Augmented Reality and Virtual Reality Market to grow at a CAGR of 52.37% from 2022 to 2027|APAC estimated to contribute 35% to the market growth – Technavio

NEW YORK, July 6, 2023 /PRNewswire/ — The augmented reality and virtual reality market is set to grow by USD 364,557.67 million from 2022 to 2027 progressing at a CAGR of 52.37% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The increasing demand for AR and VR technology is a key factor driving the market growth. The adoption of VR and AR technology is majorly due to VR and AR technology. The increase in technological advancements is helping users to use the technology in a more user-friendly manner. For example, Google’s Project Glass offers access to a variety of AR applications. Online and offline shopping with various AR applications is also getting popular. Virtual fitting rooms are helping users in choosing the right size of clothing and reduce the frequency of returns. Hence, growing application areas for AR and VR technology in different fields are expected to drive market growth during the forecast period. – Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The augmented reality and virtual reality market report provide a holistic update, market size and forecast, trends, growth drivers, challenges, and vendor analysis. 

The augmented reality and virtual reality market covers the following areas:

Augmented Reality and Virtual Reality Market SizingAugmented Reality and Virtual Reality Market ForecastAugmented Reality and Virtual Reality Market Analysis

Augmented Reality and Virtual Reality Market 2023-2027 – Market Dynamics

Major Trends

Growing funding in AR and VR startups by investors is a major trend shaping the market. AR is becoming popular and is being used in various fields such as enterprises, healthcare, and marketing. Display medium manufacturers and AR application developers are the focus of funding in the market. Funding for small startups from venture capitalists is promoting technological advancements in the AR and VR market. For example, Magic Leap Inc. received $461 million in Series D funding from investors. Hence, the increase in funding is expected to drive market growth during the forecast period.

Significant Challenges

The risks associated with AR and VR applications may restrict market growth. A new and different intellectual property containing sensitive information, which requires controls for security and privacy, is rising due to the utilization of AR and VR. Protecting the information that is being generated in an AR and VR world and ensuring its integrity also becomes significantly important for the vendors. Furthermore, it can collect a lot of information from the users’ social networking accounts and pose a threat to the consumers’ personal data. AR smart glasses are also associated with privacy-related concerns as these glasses automatically screen and process the users’ environment, which violates the privacy of users. Hence, these factors are expected to restrict the market growth during the forecast period.

Augmented Reality and Virtual Reality Market 2023-2027: Market Segmentation

The augmented reality and virtual reality market by application (consumer and enterprise), technology (AR and VR), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

The market share growth in the AR segment will be significant during the forecast period. The demand for AR is rising due to its applications in various fields. As a result, the manufacturing of hardware, such as headsets, smart glasses, and lenses for AR technology, is increasing significantly. Furthermore, companies are using AR for streamlining their processes, training and troubleshooting, advertising, marketing, and entertainment purposes in various industries. For example, Google announced AR in Search. Hence, these factors are expected to drive the segment growth during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

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Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recessionGlobal competitiveness and key competitor positionsMarket presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Companies Mentioned

Alphabet Inc.Apple Inc.Augmented Pixels Inc.Blippar Ltd.CyberGlove Systems Inc.Eon Reality Inc.HP Inc.HTC Corp.Innovega Inc.Lenovo Group Ltd.Magic Leap Inc.Microsoft Corp.PTC Inc.Samsung Electronics Co. Ltd.Seiko Epson Corp.Toshiba Corp.Vuzix Corp.Wikitude GmbHZugara Inc.Maxst Co. Ltd.

Vendor Offering

Apple Inc. – The company offers solutions for augmented reality and virtual reality experience, which enhances the real-world environment with playful, immersive effects using LiDAR to sense depth. HP Inc. – The company offers solutions for augmented reality and virtual reality experiences for gaming and business activities with hyper-real visuals, comfort, and compatibility.Microsoft Corp. – The company offers solutions for augmented reality and virtual reality, which stay engaged heads-up, hands-free longer, and more comfortable to safely complete tasks error-free.

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Table of Contents

1 Executive Summary

1.1 Market overviewExhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by TechnologyExhibit 06: Executive Summary – Chart on Market Segmentation by ApplicationExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystemExhibit 10: Parent marketExhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definitionExhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 20223.4 Market outlook: Forecast for 2022-2027 Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global augmented reality and virtual reality market 2017 – 2021 Exhibit 18: Historic Market Size – Data Table on Global augmented reality and virtual reality market 2017 – 2021 ($ million)4.2 By technology Segment Analysis 2017 – 2021 Exhibit 19: Historic Market Size – By technology Segment 2017 – 2021 ($ million)4.3 By application Segment Analysis 2017 – 2021 Exhibit 20: Historic Market Size – By application Segment 2017 – 2021 ($ million)4.4 By geography Segment Analysis 2017 – 2021 Exhibit 21: Historic Market Size – By geography Segment 2017 – 2021 ($ million)4.5 Country Segment Analysis 2017 – 2021 Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summaryExhibit 23: Five forces analysis – Comparison between2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalryExhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market conditionExhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Technology

6.1 Market segmentsExhibit 30: Chart on Technology – Market share 2022-2027 (%)Exhibit 31: Data Table on Technology – Market share 2022-2027 (%)6.2 Comparison by Technology Exhibit 32: Chart on Comparison by TechnologyExhibit 33: Data Table on Comparison by Technology6.3 AR – Market size and forecast 2022-2027 Exhibit 34: Chart on AR – Market size and forecast 2022-2027 ($ million)Exhibit 35: Data Table on AR – Market size and forecast 2022-2027 ($ million)Exhibit 36: Chart on AR – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on AR – Year-over-year growth 2022-2027 (%)6.4 VR – Market size and forecast 2022-2027 Exhibit 38: Chart on VR – Market size and forecast 2022-2027 ($ million)Exhibit 39: Data Table on VR – Market size and forecast 2022-2027 ($ million)Exhibit 40: Chart on VR – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on VR – Year-over-year growth 2022-2027 (%)6.5 Market opportunity by Technology Exhibit 42: Market opportunity by Technology ($ million)

7 Market Segmentation by Application

7.1 Market segmentsExhibit 43: Chart on Application – Market share 2022-2027 (%)Exhibit 44: Data Table on Application – Market share 2022-2027 (%)7.2 Comparison by Application Exhibit 45: Chart on Comparison by ApplicationExhibit 46: Data Table on Comparison by Application7.3 Consumer – Market size and forecast 2022-2027 Exhibit 47: Chart on Consumer – Market size and forecast 2022-2027 ($ million)Exhibit 48: Data Table on Consumer – Market size and forecast 2022-2027 ($ million)Exhibit 49: Chart on Consumer – Year-over-year growth 2022-2027 (%)Exhibit 50: Data Table on Consumer – Year-over-year growth 2022-2027 (%)7.4 Enterprise – Market size and forecast 2022-2027 Exhibit 51: Chart on Enterprise – Market size and forecast 2022-2027 ($ million)Exhibit 52: Data Table on Enterprise – Market size and forecast 2022-2027 ($ million)Exhibit 53: Chart on Enterprise – Year-over-year growth 2022-2027 (%)Exhibit 54: Data Table on Enterprise – Year-over-year growth 2022-2027 (%)7.5 Market opportunity by Application Exhibit 55: Market opportunity by Application ($ million)

8 Customer Landscape

8.1 Customer landscape overview Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation Exhibit 57: Chart on Market share by geography 2022-2027 (%)Exhibit 58: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 59: Chart on Geographic comparisonExhibit 60: Data Table on Geographic comparison9.3 North America – Market size and forecast 2022-2027 Exhibit 61: Chart on North America – Market size and forecast 2022-2027 ($ million)Exhibit 62: Data Table on North America – Market size and forecast 2022-2027 ($ million)Exhibit 63: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 64: Data Table on North America – Year-over-year growth 2022-2027 (%)9.4 APAC – Market size and forecast 2022-2027 Exhibit 65: Chart on APAC – Market size and forecast 2022-2027 ($ million)Exhibit 66: Data Table on APAC – Market size and forecast 2022-2027 ($ million)Exhibit 67: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 68: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.5 Europe – Market size and forecast 2022-2027 Exhibit 69: Chart on Europe – Market size and forecast 2022-2027 ($ million)Exhibit 70: Data Table on Europe – Market size and forecast 2022-2027 ($ million)Exhibit 71: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 72: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.6 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 73: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)Exhibit 74: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)Exhibit 75: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 76: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.7 South America – Market size and forecast 2022-2027 Exhibit 77: Chart on South America – Market size and forecast 2022-2027 ($ million)Exhibit 78: Data Table on South America – Market size and forecast 2022-2027 ($ million)Exhibit 79: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 80: Data Table on South America – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027 Exhibit 81: Chart on US – Market size and forecast 2022-2027 ($ million)Exhibit 82: Data Table on US – Market size and forecast 2022-2027 ($ million)Exhibit 83: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 84: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 China – Market size and forecast 2022-2027 Exhibit 85: Chart on China – Market size and forecast 2022-2027 ($ million)Exhibit 86: Data Table on China – Market size and forecast 2022-2027 ($ million)Exhibit 87: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 88: Data Table on China – Year-over-year growth 2022-2027 (%)9.10 Germany – Market size and forecast 2022-2027 Exhibit 89: Chart on Germany – Market size and forecast 2022-2027 ($ million)Exhibit 90: Data Table on Germany – Market size and forecast 2022-2027 ($ million)Exhibit 91: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 92: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.11 UK – Market size and forecast 2022-2027 Exhibit 93: Chart on UK – Market size and forecast 2022-2027 ($ million)Exhibit 94: Data Table on UK – Market size and forecast 2022-2027 ($ million)Exhibit 95: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 96: Data Table on UK – Year-over-year growth 2022-2027 (%)9.12 Japan – Market size and forecast 2022-2027 Exhibit 97: Chart on Japan – Market size and forecast 2022-2027 ($ million)Exhibit 98: Data Table on Japan – Market size and forecast 2022-2027 ($ million)Exhibit 99: Chart on Japan – Year-over-year growth 2022-2027 (%)Exhibit 100: Data Table on Japan – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers10.2 Market challenges10.3 Impact of drivers and challenges Exhibit 102: Impact of drivers and challenges in 2022 and 202710.4 Market trends

11 Vendor Landscape

11.1 Overview11.2 Vendor landscapeExhibit 103: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruptionExhibit 104: Overview on factors of disruption11.4 Industry risksExhibit 105: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors coveredExhibit 106: Vendors covered12.2 Market positioning of vendors Exhibit 107: Matrix on vendor position and classification12.3 Alphabet Inc.Exhibit 108: Alphabet Inc. – OverviewExhibit 109: Alphabet Inc. – Business segmentsExhibit 110: Alphabet Inc. – Key newsExhibit 111: Alphabet Inc. – Key offeringsExhibit 112: Alphabet Inc. – Segment focus12.4 Apple Inc.Exhibit 113: Apple Inc. – OverviewExhibit 114: Apple Inc. – Business segmentsExhibit 115: Apple Inc. – Key newsExhibit 116: Apple Inc. – Key offeringsExhibit 117: Apple Inc. – Segment focus12.5 Augmented Pixels Inc. Exhibit 118: Augmented Pixels Inc. – OverviewExhibit 119: Augmented Pixels Inc. – Product / ServiceExhibit 120: Augmented Pixels Inc. – Key offerings12.6 Blippar Ltd.Exhibit 121: Blippar Ltd. – OverviewExhibit 122: Blippar Ltd. – Product / ServiceExhibit 123: Blippar Ltd. – Key offerings12.7 CyberGlove Systems Inc. Exhibit 124: CyberGlove Systems Inc. – OverviewExhibit 125: CyberGlove Systems Inc. – Product / ServiceExhibit 126: CyberGlove Systems Inc. – Key offerings12.8 HP Inc.Exhibit 127: HP Inc. – OverviewExhibit 128: HP Inc. – Business segmentsExhibit 129: HP Inc. – Key newsExhibit 130: HP Inc. – Key offeringsExhibit 131: HP Inc. – Segment focus12.9 HTC Corp.Exhibit 132: HTC Corp. – OverviewExhibit 133: HTC Corp. – Product / ServiceExhibit 134: HTC Corp. – Key offerings12.10 Lenovo Group Ltd.Exhibit 135: Lenovo Group Ltd. – OverviewExhibit 136: Lenovo Group Ltd. – Business segmentsExhibit 137: Lenovo Group Ltd. – Key offeringsExhibit 138: Lenovo Group Ltd. – Segment focus12.11 Magic Leap Inc.Exhibit 139: Magic Leap Inc. – OverviewExhibit 140: Magic Leap Inc. – Product / ServiceExhibit 141: Magic Leap Inc. – Key offerings12.12 Microsoft Corp.Exhibit 142: Microsoft Corp. – OverviewExhibit 143: Microsoft Corp. – Business segmentsExhibit 144: Microsoft Corp. – Key newsExhibit 145: Microsoft Corp. – Key offeringsExhibit 146: Microsoft Corp. – Segment focus12.13 PTC Inc.Exhibit 147: PTC Inc. – OverviewExhibit 148: PTC Inc. – Business segmentsExhibit 149: PTC Inc. – Key offeringsExhibit 150: PTC Inc. – Segment focus12.14 Samsung Electronics Co. Ltd. Exhibit 151: Samsung Electronics Co. Ltd. – OverviewExhibit 152: Samsung Electronics Co. Ltd. – Business segmentsExhibit 153: Samsung Electronics Co. Ltd. – Key newsExhibit 154: Samsung Electronics Co. Ltd. – Key offeringsExhibit 155: Samsung Electronics Co. Ltd. – Segment focus12.15 Seiko Epson Corp.Exhibit 156: Seiko Epson Corp. – OverviewExhibit 157: Seiko Epson Corp. – Business segmentsExhibit 158: Seiko Epson Corp. – Key newsExhibit 159: Seiko Epson Corp. – Key offeringsExhibit 160: Seiko Epson Corp. – Segment focus12.16 Toshiba Corp.Exhibit 161: Toshiba Corp. – OverviewExhibit 162: Toshiba Corp. – Business segmentsExhibit 163: Toshiba Corp. – Key newsExhibit 164: Toshiba Corp. – Key offeringsExhibit 165: Toshiba Corp. – Segment focus12.17 Zugara Inc.Exhibit 166: Zugara Inc. – OverviewExhibit 167: Zugara Inc. – Product / ServiceExhibit 168: Zugara Inc. – Key offerings

13 Appendix

13.1 Scope of the report13.2 Inclusions and exclusions checklist Exhibit 169: Inclusions checklistExhibit 170: Exclusions checklist13.3 Currency conversion rates for US$ Exhibit 171: Currency conversion rates for US$13.4 Research methodologyExhibit 172: Research methodologyExhibit 173: Validation techniques employed for market sizingExhibit 174: Information sources13.5 List of abbreviationsExhibit 175: List of abbreviations

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