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Augmented and Virtual Reality Market to Witness Major Growth by 2028 : Facebook Reality Labs, Microsoft, Google

Stay up to date with Augmented and Virtual Reality Market research offered by HTF MI. Check how key trends and emerging drivers are shaping this industry growth.


Pune, Maharashtra -- (SBWIRE) -- 08/04/2023 -- HTF Market Intelligence published a new research document of 150+pages on "Augmented and Virtual Reality Market Insights, to 2028" with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Augmented and Virtual Reality market was mainly driven by the increasing R&D spending by leading and emerging player, however latest scenario and economic slowdown have changed complete market dynamics.

Some of the key players profiled in the study are Facebook Reality Labs (United States), Microsoft (United States), Google (United States), HTC Corporation (Taiwan), Sony Interactive Entertainment (Japan), Magic Leap (United States), Samsung Electronics (South Korea), Lenovo (China), PTC (Vuforia) (United States), Unity Technologies (United States).

According to HTF Market Intelligence, the Global Augmented and Virtual Reality market to witness a CAGR of 24.8% during forecast period of 2023-2028. Global Augmented and Virtual Reality Market Breakdown by Application (Consumer, Enterprise) by Type (AR technology, VR technology) by Organization Size (Large Enterprises, SMEs) by Industry Vertical (Gaming, Healthcare, Education, Entertainment and Media, Aerospace and Defense, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Augmented and Virtual Reality market size is estimated to increase by USD 332.2 Billion at a CAGR of 24.8% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 38.2 Billion.

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The Augmented Reality (AR) and Virtual Reality (VR) market refer to the collective industry involving technologies that enhance or alter the user's perception of the real world or immerse them in a simulated environment. Both AR and VR technologies are part of the extended reality (XR) spectrum, but they serve different purposes and offer distinct user experiences.

Market Trends:
- Increasing adoption of AR and VR technologies in various industries, such as gaming, education, healthcare, retail, and architecture.
- Convergence of AR and VR with other emerging technologies, such as artificial intelligence, 5G, and IoT, to create more immersive and interactive experiences.
- Growing demand for AR-based marketing and advertising campaigns for enhanced customer engagement.
- Integration of AR and VR in remote collaboration and teleconferencing tools, facilitating virtual meetings and events.

Market Drivers:
- Technological advancements and improved hardware capabilities, making AR and VR experiences more realistic and accessible.
- Increasing investment from tech giants and startups, driving innovation and content creation in the AR and VR space.
- Rising demand for virtual training and simulation solutions in industries like healthcare, aviation, and defense for cost-effective and safe skill development.

Market Opportunities:
- Healthcare applications, such as AR-assisted surgeries, VR pain management, and medical training simulations.
- Education and training, offering interactive and immersive learning experiences through AR and VR platforms.
- E-commerce and retail, providing virtual try-on solutions and virtual showrooms to enhance the shopping experience.

Market Challenges:
- Hardware limitations, such as bulky headsets and restricted field of view, hindering widespread consumer adoption.
- Interoperability issues and the need for standardized AR and VR platforms for seamless experiences across devices.
Market Restraints:
- High development costs and the need for skilled developers and content creators.
- Limited consumer awareness and perceived complexity of AR and VR technologies.
- Concerns over motion sickness and discomfort associated with extended VR use.

The titled segments and sub-section of the market are illuminated below:
The Study Explore the Product Types of Augmented and Virtual Reality Market: AR technology, VR technology

Key Applications/end-users of Augmented and Virtual Reality Market: Consumer, Enterprise

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With this report you will learn:
- Who the leading players are in Augmented and Virtual Reality Market?
- What you should look for in a Augmented and Virtual Reality
- What trends are driving the Market
- About the changing market behaviour over time with strategic view point to examine competition

Also included in the study are profiles of 15 Augmented and Virtual Reality vendors, pricing charts, financial outlook, swot analysis, products specification &comparisons matrix with recommended steps for evaluating and determining latest product/service offering.

List of players profiled in this report: Facebook Reality Labs (United States), Microsoft (United States), Google (United States), HTC Corporation (Taiwan), Sony Interactive Entertainment (Japan), Magic Leap (United States), Samsung Electronics (South Korea), Lenovo (China), PTC (Vuforia) (United States), Unity Technologies (United States)

Who should get most benefit from this report insights?
- Anyone who are directly or indirectly involved in value chain cycle of this industry and needs to be up to speed on the key players and major trends in the market for Augmented and Virtual Reality
- Marketers and agencies doing their due diligence in selecting a Augmented and Virtual Reality for large and enterprise level organizations
- Analysts and vendors looking for current intelligence about this dynamic marketplace.
- Competition who would like to benchmark and correlate themselves with market position and standings in current scenario.

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Quick Snapshot and Extracts from TOC of Latest Edition
Overview of Augmented and Virtual Reality Market
Augmented and Virtual Reality Size (Sales Volume) Comparison by Type (2023-2028)
Augmented and Virtual Reality Size (Consumption) and Market Share Comparison by Application (2023-2028)
Augmented and Virtual Reality Size (Value) Comparison by Region (2023-2028)
Augmented and Virtual Reality Sales, Revenue and Growth Rate (2023-2028)
Augmented and Virtual Reality Competitive Situation and Current Scenario Analysis
Strategic proposal for estimating sizing of core business segments
Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
Analyse competitors, including all important parameters of Augmented and Virtual Reality
Augmented and Virtual Reality Manufacturing Cost Analysis
Latest innovative headway and supply chain pattern mapping of leading and merging industry players

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