Global Augmented Reality (AR) & Virtual Reality (VR) Market Outlook to 2023 by Devices, Component, Application and Geography - ResearchAndMarkets.com
Jul. 30, 2018
DUBLIN--(BUSINESS WIRE)--Jul 30, 2018--The "Augmented Reality and Virtual Reality Market by Devices, by Component, by Application by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013 - 2023" report has been added to ResearchAndMarkets.com's offering.
Global augmented reality and virtual reality market is expected to reach $94.4 billion by 2023. Increase in smartphone penetration, and advancement in internet connectivity and computer technology are the major factors driving the growth of the market.
On the basis of device type, the augmented reality and virtual reality market is categorized into AR devices and VR devices. Of the two, VR devices recorded larger share in the market, with a contribution of more than 60% in 2017. However, during the forecast period, the market for AR devices is expected to grow faster, witnessing a CAGR of 73.8%. The higher growth of this market is mainly attributed to the growing demand of the technologies from the tourism industry; for instance, the National Museum of Singapore uses AR devices to provide reality-enhanced tour of the museum, which has redefined the conventional museum experience for travelers.
On the basis component, the augmented reality and virtual reality market is categorized into hardware and software; between the two, the hardware category accounted for larger revenue in the market, valued at nearly 67% in 2017. However, the software component category is projected to witness higher growth during the forecast period.
On the basis of application, the augmented reality and virtual reality market is categorized into AR and VR applications. Consumer applications such as gaming, media, and entertainment, contributed over 30% of revenue in the market in 2017.
Key FindingsMarket is expected to witness the fastest growth in Asia-Pacific (APAC) Rising smartphone penetration is the key growth driver Widespread potential for development of mixed reality offers immense growth opportunities in the augmented reality and virtual reality market
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
Chapter 5. Global Market Size & Forecast
Chapter 6. North America Market Size & Forecast
Chapter 7. Europe Market Size & Forecast
Chapter 8. APAC Market Size & Forecast
Chapter 9. RoW Market Size & Forecast
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/8q39tk/global_augmented?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180730005663/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Virtual and Augmented Reality
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 07/30/2018 02:11 PM/DISC: 07/30/2018 02:11 PM