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Augmented and Virtual Reality Market Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2027– IndustryARC

Augmented and Virtual Reality Market

Market Research Reports, Business Consulting Services & Analytics

AR and VR Market Was Estimated to Grow to $140.1 Billion by 2026, Growing at a CAGR of 38.4% From 2021 to 2026

HYDERABAD, TELANGANA, INDIA , September 27, 2022 / -- IndustryARC, in its latest report, predicts that the Augmented and Virtual Reality Market was estimated to grow to $140.1 billion by 2026, growing at a CAGR of 38.4% from 2021 to 2026. The market is driven by the increasing popularity of Augmented & Virtual Reality Devices due to better user engagement with a high recall rate. The commerce industry saw a huge change when e-commerce concept gained mass adoption. Prominent companies such as Walmart, Blockbuster suffered when people began purchasing products online, and players such as Amazon, eBay and Netflix gathered the majority of market share. Owing to such demand, augmented reality market and virtual reality market are gaining traction. AR and VR tools inhibits the confinement of human physical possibilities and relishes one’s quest for all sorts of endeavors. Augmented reality market and virtual reality market growth is not only fueled by entertainment content but also expands to healthcare, aviation, and defense sectors in particular. The rising dependence on Head Mounted Displays and Gesture Tracking devices for virtual reality games applications is set to drive the market growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key Takeaways:

This IndustryARC report on the Augmented and Virtual Reality Market highlights the following areas -

1. One of the major driver is the rise in adoption of smartphones. Hence, Mixed Reality devices incorporated/enabled with smartphones offering plug and play features would cause a paradigm shift to the mixed reality devices market. For instance, Lenovo has developed a new smartphone “Phab 2 Pro” enabled with Google Tango which offers mixed-reality features to an extent.

2. Both Augmented Reality and Virtual Reality technically elaborates the scope of E-Commerce and took the interaction to a whole new level altogether.

3. As per IndustryARC research, more than 60% of online shoppers prefer to purchase items that offer Augmented Reality on websites in one way or the other. It’s inarguable fact that both Augmented Reality and Virtual Reality has increased user interaction for many companies and helped them to upsurge their user base.

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Segmental Analysis:

1. In Device Type Segment, Video Walls stood as the fastest growing subset with an estimated CAGR of 35% during the forecast period. MAR (Mobile Augmented Reality) is expected to account for more than 52% of AR Application Market by 2026.

2. Engineers can use AR headsets for on job improvisation centered to the fact that the human mind processes technical information more efficiently presented in a 3D format faster than having to translate it from a 2D perspective.

3. Being one of the most advanced settlement in terms of cutting-edge technology being implied in all its industrial operations, North America is reckoned to be dominating the global augmented reality market and virtual reality market demand.

Competitive Landscape:

The top 5 players in the Augmented and Virtual Reality industry are -

1. Amazon

2. Ikea

3. Facebook

4. Sephora

5. BMW

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Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Similar Reports:

A. Augmented & Virtual Reality Content & Application Market - Forecast(2021 - 2026)

B. Augmented Reality & Virtual Reality Market For Gaming Industry - Forecast(2021 - 2026)

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