Global Augmented Reality Market is Expected to Grow Over $161 Billion and Virtual Reality Market to Grow to Over $17 billion by 2022
This growth in the AR and VR market is attributed to increase in the awareness about these technologies among the consumers, mass scale adoption of AR and VR in various industry verticals, and integration of AR and VR to create mixed reality for future applications. However, health concerns, privacy issues, and the Chinese economic slowdown are restraining the overall growth of the global AR and VR market.
AR and VR technologies utilize different hardware platforms for their applications. These technologies are compatible with devices such as smart glasses, head-up displays, head mounted displays and hand held devices among others. Among the device type of AR, Head Mounted Display (HMD) holds the highest share of the market in 2016. Modern day head mounted displays utilize technologies such as optical wave guides, liquid crystal displays, digital micro mirrors, and organic light emitting diodes for micro displays.
These devices are equipped with GPS tracking systems, activity tracking systems, connectivity solutions such as Bluetooth, WI-Fi, and mobile operating systems. Some of the advanced smart glasses have the ability to communicate by voice commands, while others support touch buttons, external controllers and gesture controls, as well as are capable enough to run dedicated mobile apps.
Among the device type of VR, Head Mounted Display (HMD) holds the highest share of the market in 2016. Head mounted display in virtual reality is somewhat different from HMDs used in augmented reality as these devices completely blocks the interaction from the real world while allowing users to interact with the virtual environment or computer simulated reality. It is used in fully immersive virtual reality purposes.
The commercial application of AR generated the highest revenue among all the applications of AR. The commercial sector is utilizing AR technology on a wider level especially when it comes to hand held devices platform. AR applications are being used by retail companies to provide detailed information of the product on its packaging using smart-phones or tablet computers. Mobile advertising is also being used by AR companies to increase brand recognition among consumers. Among the major applications of VR, the consumer application generated the highest revenue in 2015.
The consumer segment of VR technology comprises of gaming and entertainment applications. Gaming market has always been one of the keen targets for VR companies. The integration of audio and video graphics into an immersive virtual world for gaming purposes has gained significant popularity among the gaming community.
Key Topics Covered:
1 Research Scope and Methodology
2 Market Dynamics
3 Competitive Insights
4 Augmented Reality and Virtual Reality Market Breakdown, by Device Type
5 Augmented Reality and Virtual Reality Market Breakdown by Component
6 Technologies Used in Augmented Reality and Virtual Reality
7 Augmented Reality and Virtual Reality Market Breakdown, by Application
8 Augmented Reality and Virtual Reality Market Breakdown, by Geography
9 Company Profiles
- Daqri LLC
- EON Reality
- Google Inc.
- HTC Corporation
- Himax Technologies
- Intel Corporation
- Magic Leap, Inc.
- Meta Company
- Microsoft Corporation
- Oculus VR, LLC
- Osterhout Design Group (ODG)
- Qualcomm Inc.
- Samsung Electronics Co, Ltd.
- Seiko Epson Corporation
- Vuzix Corporation
- Wikitude GMBH
For more information about this report visit http://www.researchandmarkets.com/research/9bdfqw/global_augmented
Related Topics: Virtual and Augmented Reality
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SOURCE Research and Markets