Portland, OR -- (SBWire) -- 08/22/2017 --The report is an extensive analysis of the current market trends and the varied range of opportunities in the offing. Key impacting factors, major drivers, and restraints are included to enable the stakeholders to get an insight of the market. The report also highlights all the business verticals along with predictions of likely additions to the market.
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The global augmented and virtual reality market is estimated to reach $59,511 million by 2022. The market is expected to grow at a compound annual growth rate of 65.7%. Augmented reality is a technology that overlays the information about the environment and its objects over the existing users' environment. Virtual reality, on the other hand, is a computer-generated 3D environment. Augmented and virtual reality technology makes the surrounding of the users interactive and digitally manipulable.
Porter's Five Forces Analysis has been carried out within the scope of the study. The analysis highlights the influences of suppliers, competitors, new entrants, substitutes, and buyers on the market. The knowledge of the top investment pockets in the global markets is of immense importance to the investors. The report credits the rapid growth of the market to the expansion of the gamer community. Augmented and virtual reality has found the maximum acceptance in the gaming sector. There has been a tremendous increase in the popularity of this technology due to its cost-efficient benefits. The factors limiting the growth of the market is a lack of infrastructure and resistance to widespread adoption of the technology. A dearth of investments in the research and development sector also hinders the market's progress. The introduction to industry-specific solutions across industries such as mining, oil and gas, and transportation provides the organizations with opportunities to expand their businesses.
The market is categorized based on the platform, application, and the geographical region. The technology is used in platforms such as mobiles, consoles, and personal computers(PC). The major applications of the augmented and virtual reality are in the sectors of video games, live events, video entertainment, military, healthcare and others (retail, real estate, education, and engineering). A detailed overview of each of the geographical segments, i.e. North America, Europe, Asia-Pacific, and LAMEA, is presented in the report. The region-specific market trends, market size, and the forecast is a part of the detailed report. Asia-Pacific and Europe show promising growth in the forecast period 2014–2022.
Key players of the augmented and virtual reality market include Alphabet Inc. (Google Inc.), Facebook Inc. (Oculus VR, LLC), Intel Corporation, Magic Leap Inc., Marxent Labs LLC, Microsoft Corporation, NVIDIA Corporation, Qualcomm Incorporated, Samsung Electronics Co. Ltd., and Vuzix Corporation. The business segments in which these organizations operate and the key strategies adopted by them are included to give a critical insight to the new entrants in the market.
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Key points to be considered
- This report presents an in-depth study of the current and emerging market trends of the global augmented and virtual reality market.
- A quantitative analysis of the market through 2014–2022 is provided to bring focus on the potential of the market.
- The healthcare sector is anticipated to grow at the highest CAGR during the forecast period 2014–2022.
- Top investment pockets highlight the most rewarding opportunities in the application segments of the market.
- The key player positioning and the strategies adopted by the leading players assist in understanding the current market scenario and take well-informed measures in the future.
Augmented and Virtual Reality Market– Global Opportunity and Forecast, 2014–2022
Allied Market Research recently published a report titled “Augmented and Virtual Reality Market by Platform and Application- Global Opportunity and Forecast, 2014–2022”.