Dallas, TX -- (SBWIRE) -- 05/15/2014 -- According to a new report of "Augmented Reality & Virtual Reality Market by Technology Types, Sensors (Accelerometer, Gyroscope, Haptics), Components (Camera, Controller, Gloves, HMD), Applications (Automotive, Education, Medical, Gaming, Military) & by Geography - Global Forecast and Analysis to 2013 - 2018", published by MarketsandMarkets, is expected to grow at a CAGR of 15.18% from 2013 to 2018 and reach 1.06 Billion in 2018. The data mentioned is for dedicated augmented reality and immersive virtual reality systems only. Separate analysis for mobile based AR and non immersive VR is done.
Augmented reality is one of the major and most innovative technologies of the decade. It provides information and entertainment which overlays on the physical world. The potential of augmented reality technology is wide and endless but still it’s under development stage and most of the potential are unexploited. This technology proved to be very comfortable and user friendly. For the last decade, augmented reality has been focussed on gaming which will send the users quickly to another immersive world. The augmented reality is believed to be a promising technology which will augment the user gaming skills by new ways to control actions and 3D movements.
Browse 86 market data tables and 39 figures spread through 254 pages and in-depth TOC on "Augmented Reality & Virtual Reality Market"
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In these times augmented reality technology is used in a wide range of application like e-commerce, marketing, automotive, medical, education and so on. The tremendous growth in the sales of Smartphones has made many companies to come up with the idea of marketing personalized for the mobile space. Augmented Reality Market is used as a marketing tool and for branding in e-commerce industry. E-commerce is one of the developing industries because of the increase in the use of internet progressively. The biggest challenges face by e-commerce is that the user cannot use or get to know much about the product before buying it. Now augmented reality technology is used to provide a solution for this kind of conditions faced by e-commerce industry. It provides web solutions like virtual trial room where users can try various products before buying it through an internet connection and a webcam. Augmented reality can be reaching out to more customers and can increase the sales by providing the customers with online shopping experiences. Augmented reality technology is also used in magazines and newspapers by enhancing the advertisements with interactive functions thereby giving the companies an opportunity to promote their products.
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Augmented reality is a thriving technology where digital data merge with real world. This technology imposes the real world with computer generated data which completely changes the user experience. It changes what we hear, feel and see. The augmented reality technology uses virtual reality to amend with the real world. Augmented reality and virtual reality have and can offer a wide range of emerging application.
The Augmented reality technology has shown ubiquitous growth in mobile phone technology featured with a camera and a GPS (Global Positioning System) which allow the users to experience the technology beyond their anticipation. By 2015, the augmented reality technology will be widely used in the education field for advanced learning and for teaching technologies. The augmented reality and virtual reality technology will be used to contribute to the projects with smart innovations in future due to its great fascination and potential.
The overall Augmented Reality and Virtual Reality Market is segmented into four major segments namely: AR & VR components and sensors, AR & VR technology, AR & VR application, and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately described in the report.
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Global dedicated devices Augmented Reality Market is expected to reach $659.98 million by 2018, whereas the immersive Virtual Reality Market is expected to reach $407.51 million by 2018. The mobile based augmented reality and non-immersive virtual reality market analysis is done separately to maintain the mutual exclusiveness of data sets.
The major driving forces of augmented reality technology and virtual reality are the advancement and in computer technology and internet connectivity. The increased demand in virtual reality and augmented reality application in healthcare industry is a direct cause for a tremendous growth in AR & VR market. The other driving force for virtual reality and augmented reality technology is the consumer demand in m-commerce industry. The technology used in augmented reality applications, i.e. marker-less is at the apex and is expected to grow rapidly. Major driving factor in this marker-less is use of GPS and compass which are used commonly in smartphones. The technology used in virtual reality application, are in the emerging trends like goggles, contact lens, and further opportunities are described in detail in the report.
Geographical split for every application is included in the report as the market share of different applications of Augmented Reality And Virtual Reality Market varies from one region to another. This report describes the overall market into four major geographical segments, namely, North America, Europe, APAC, and ROW. North America and Europe is the market leader in the overall Augmented And Virtual Reality Market, followed by APAC. In ROW, the Middle East, and Africa are coming up with this technology because of its benefits in wide range of applications.
The major companies included which offer AR & VR technology in various applications are Total immersion (France), Qualcomm Inc (U.S.), Metaio GmBH (Germany), Vuzix Corporation (U.S.), Layar B.V (The Netherlands), Wikitude GmBH
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