Dallas, TX -- (SBWIRE) -- 10/06/2014 -- Augmented reality is still under progressive stage and focuses on wearable technology like goggles, contact lens, and so on which will be commonly used in future. Many research and developments are taking place in application areas such as healthcare, education, military, enterprise, and so on. The increase of demand in the virtual reality application in the healthcare industry shows a tremendous growth and it acts as a major driver for the market. The market growth has resulted in an exponential increase in the number of companies operating in the AR/VR domain. The companies which provide virtual reality and augmented reality tools to the developers are reinforcing their position due to the increase in the competition.

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The total market is also segmented according to various technologies, components, application and, geography. The report includes quantitative data analysis for various technologies used in virtual reality and augmented reality. The types of virtual reality used are immersive VR, non immersive VR, projected VR, and CAVE (Chicago automatic virtual environment). The technologies used in augmented reality are marker based AR and mark-less based AR. The components used in virtual reality system are tracker, sensor, auditory interface, haptic interface, and 2D and 3D simulation software. Tracking system, sensor, and a display are the components used in augmented reality system. The virtual reality and augmented reality offers good opportunities in application areas such as healthcare, education, military, enterprise, and so on. The report includes segmentation and analysis of the market by types, components, and application which gives an in-depth understanding of the emerging AR and VR market.

The entire report is broadly divided into augmented reality and virtual reality market segments. The market data point for each of the segment is categorized under the following verticals: technology, sensors and components, applications, and geography.

By technology:

The technology segment is divided by AR and VR technologies. For augmented reality, it is classified into three types: mobile device based, wearable type, and video spatial display type of technology. On the other hand, for the virtual reality, the segmentation is done based on the level of immersion. The virtual reality technology is classified into three types: non immersive, semi immersive, and fully immersive micro segments.

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.

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.

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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 AR application in healthcare industry is a direct cause for a tremendous growth in AR & VR market. The other driving force for virtual reality and AR 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 AR 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.

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