Augmented Reality and Virtual Reality Market Evolving Industry Trends and key Insights by 2025

According to Future Market Insights’ analysis, the North America augmented reality and virtual reality market is anticipated to witness high growth rate over the forecast period. However, the Middle East and Africa region is also likely to grow at a relatively high CAGR during the assessment period. Revenue from the augmented reality and virtual reality market in North America and Europe is collectively estimated to grab the maximum portion of the global augmented reality and virtual reality market revenue in 2017. Markets in Asia Pacific and Latin America are expected to witness high growth rates between 2017 and 2025. Contributing to this upsurge will be continued growth in demand for Augmented Reality and Virtual Reality (AR and VR) technology in gaming, media and entertainment, leading to a higher adoption of AR and VR devices and applications in the consumer and commercial sector. The analysts of Future Market Insights have observed that the global AR and VR market is projected to witness significant revenue growth during the forecast period and have presented the findings in a new report titled “Augmented Reality and Virtual Reality Market: Global Industry Analysis and Opportunity Assessment, 2017–2025.” After examining the market in detail, the analysts have observed that the gaming segment is likely to dominate the global AR and VR market with a higher share in terms of revenue by 2017 end. The overall market is segmented on the basis of technology, hardware, end user, devices, application and region.

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The global augmented reality and virtual reality market is anticipated to witness remarkable CAGR during 2017 – 2025

The global augmented reality and virtual reality (AR and VR) market was valued at more than US$ 5,000 Mn in 2016 and is expected to reach a market valuation close to US$ 120 Bn by 2025 end. In terms of value, the global AR and VR market is expected to expand at a CAGR of 42.2% over the forecast period. The global AR and VR market is expected to represent incremental dollar opportunity close to US$ 115 Bn between 2017 and 2025. Among the various device segments, revenue contribution from the head mounted display segment is anticipated to expand at the highest CAGR of 44% during the forecast period. Currently, North America accounts for a relatively high revenue share in the global AR and VR market; however, the MEA AR and VR market is anticipated to register the highest CAGR of 55.2% among all the other regions during the forecast period. In terms of revenue, the North America AR and VR market is projected to be the most attractive regional market in the global AR and VR market during the forecast period.

High investments by big technology companies and increasing demand for AR and VR technology in gaming are factors boosting the global AR and VR market

Adoption of advanced technology in the gaming sector has been rising significantly due to factors such as increasing young population, increasing spending by consumers on entertainment, high penetration of smartphones, and improving network connectivity in developing countries. Games based on augmented reality such as Pokemon Go and Ingress have been witnessing increasing popularity among consumers as these games offer a unique gaming experience, thereby leading to higher user engagement. Thus a growing demand for AR and VR technology in gaming is likely to fuel the growth of the global AR and VR market.

Report Link: https://www.futuremarketinsights.com/reports/augmented-reality-and-virtual-reality-market

Some of the major technology companies such as Google Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., and Apple Inc. are investing significantly in the development of new AR & VR products as a result of increasingly high demand from various industries and sectors including gaming and healthcare. Some of these companies are also funding several start-ups and providing necessary infrastructure as well to promote this technology among consumers. Therefore, with increasing investments by tech companies, the global market for augmented reality and virtual reality is expected to witness significant growth over the next five years.

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