Augmented Reality and Virtual Reality Market to Mount a Whopping Valuation of $767.67 Bn by 2025: MRFR

Pune, India, December 2018/MRFR Press Release/- Market Research Future has published a half-cooked research report on the global Augmented Reality and Virtual Reality Market. The market is expected to exhibit an over 73.3% CAGR from 2018 to 2023.Overview:The augmented reality and virtual reality market is catching the trends by surprise all around which ensures a giant leap in terms of valuation in the forthcoming years. Its percolation into industries such as healthcare & life sciences, education, and gaming is based on the demand for experiential enhancement. Many market giants are taking advantage of it to promote their products by installing augmented reality and virtual reality modes in their system. This pervasiveness of the augmented reality and virtual reality market projects a feasible market valuation of USD 767.67 billion by 2025. The report published on the same market by Market Research Future (MRFR) predicts a 73.3% CAGR for the market during the forecast period (2018-2025). The augmented reality and virtual reality market report further encompasses factors such as probable integration of 5G technology which can surely boost the market, widespread use of head-mounted displays, intrigued marketing strategists, and interested e-commerce companies & retailers. Head-mounted sets are gaining much prominence in the gaming sector that spans from arcade to smartphones. Marketing strategists now find this technology very alluring due to its ability to merge reality with virtual space. This can impact the consumer behavior which is a boon for the market giants. E-companies such as Amazon, eBay, and others are using this technology to reach a wider audience and increase their market base. With the latest 360° VR video technology in the pipeline, sectors such as pilot & driver training, space study, underwater exploration, and surgery are going to be revolutionized. Segmentation:The global augmented reality and virtual reality market can be segmented by product type and application.By product type, the augmented reality and virtual reality market can be segmented into non-immersive systems, semi-immersive projection system, and fully-immersive head mounted systems. Among these, non-immersive systems segment is spearheading the market with a market valuation of USD 3.41 billion in 2018 which can rise with the highest CAGR of 82.4% during the forecast period and reach USD 228.42 billion valuation mark.Based on application, the augmented reality and virtual reality market comprises education & training, video games, media, tourism, and social media. Video games segment is at present in the charge, and it is going to retain its position with around USD 217.26 billion market worth by 2025. However, it is the education and training sector that is touted to rise by 76.4% CAGR during the forecast period.

Regional Analysis

:Geographic consideration of the augmented reality and virtual reality market includes the U.S., Europe, China, Japan, South East Asia, and Central & South America.The U.S. is the current frontrunner, and its projected market valuation can reach up to USD 307.91 billion by 2025 with the fastest CAGR of 78.3% during the forecast period. The region has several market titans who compete well to stay ahead and, in the process, ensures market growth. Furthermore, regional supremacy in terms of technology and its proliferation in connected sectors have allowed the market to expand more than the rest.China assumes the second spot at present. However, it can lose its ground to Europe by 2025 by reaching a valuation of USD 168.58 billion compared to USD 170.04 billion valuation of Europe. China is benefitting from the infrastructure and developing industrial sector. It can expect to rise by 65% CAGR during the forecast period. Europe is fast catching up with the trend and can surpass China’s market valuation with 77.6% CAGR during the forecast period.

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Competitive Insights:Prominent players making a mark in the augmented reality and virtual reality market are Sony Corporation (Japan), Microsoft Corporation (U.S.), Zapper Limited (U.S.), awe.org Pty Ltd. (Australia), Wikitude GmbH (Austria), Virtalis Limited (U.K.), Blippar.com (U.K.), EON Reality Inc. (U.S.), DAQRI LLC (U.S.), Facebook Inc. (U.S.), Google LLC (U.S.), HTC Corporation (Taiwan), Augmented Pixels Inc. (U.S.), Terminal Eleven (SkyView), Samsung Group (South Korea), and HP Inc. (U.S.). Strategies employed often involve mergers, acquisitions, product launches, and other methods. These tactical moves ensure individual company’s growth and market’s expansion. In November 2018, Google’s acquisition of Workbench, a company with expertise in the online library of lessons and projects, marks Google’s expansion plans in the education and training sector. In February 2018, Walmart bought Spatialand, a virtual reality startup, to improve the existing tech platform and enhance the shopping experience. About Market Research FutureAt Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.The MRFR team has the supreme objective to provide optimum quality market research and intelligence services to our clients. Our market research studies by component type, vessel type, application, and market players for the global, regional, and country-level market segments enable our clients to see more, know more, and do more, which helps answer their most pertinent questions.To stay updated with technology and work process in the industry, MRFR often plans and conducts meetings with industry experts and industrial visits by its research analysts.Contact:Market Research Future+1 646 845 9312Email: sales@marketresearchfuture.com