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Global Augmented Reality and Virtual Reality Market Research Report 2016

  • Id : RNR-53908
  • Category : Semiconductor Electronics
  • Publish Date : 2016
  • Pages : 0
  • Publisher : BIS Research
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Description
The competitive landscape for the Augmented Reality (AR) and Virtual Reality (VR) devices is shifting towards more aesthetically pleasing form factor which can be incorporated in the day to day lives of consumers. These technologies are compatible with devices such as smart glasses, head-up displays, head mounted displays and hand held devices among others. A definite presence of smart phones and tablet computers, high mobility and versatility, an increasing interest of large tech corporations, and technological advancement can be deemed as the primary reasons for the enhancing growth rate of the global AR and VR market. The AR market is estimated to reach $161.1 billion by 2022 at a CAGR of 85.4% through the forecast period. The VR market is estimated to reach $17.8 billion by 2022 at a CAGR of 44.5% through the forecast period. 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.
The market is dominated by North American region and APAC is expected to grow at the highest rate in the coming years. The US has always been on the forefront of the world map when it comes to technological advancement. Therefore, like other disruptive technologies, virtual reality and augmented reality has also extended its roots onto the US market. In terms of hardware segment, most of the prominent companies are US based, giving significant impetus to the growth of this market in the US as well as whole North America. Even the companies which are not US based has significance presence in the US, either because of their manufacturing facilities or R&D bases. However, the presence of big players in APAC market such as Samsung Electronics, Sony Corporation, and HTC Corporation is expected to push the growth of AR and VR market in the APAC region. In terms of demand, China is expected to play an important role due its well-established manufacturing and engineering sector. 

Some of the key players in the industry are Samsung Electronics Co, Ltd., Microsoft Corporation, Google Inc., Seiko Epson Corporation, HTC Corporation, Intel Corporation, Qualcomm Inc., Himax Technologies, Vuzix Corporation, Oculus VR, LLC, Osterhout Design Group (ODG), Wikitude GMBH, and EON Reality.
Augmented Reality (AR) and Virtual Reality (VR) technologies continue to gain immense popularity with increasing revenue at a global level. A definite presence of smart phones and tablet computers, high mobility and versatility, an increasing interest of large tech corporations, and technological advancement has led to the widespread emergence of the global AR and VR market. The global AR and VR market is estimated to witness growth at a CAGR of 85.4% and 44.5% respectively over the period of 2016 to 2022. This growth rate is expected due 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.

The U.S. generated the maximum amount of revenue in the year 2015 in the global AR and VR industry as compared to other countries, whereas India has the maximum potential to grow in the forecast period. The US has always been on the forefront of the world map when it comes to technological advancement. Like other disruptive technologies, virtual reality and augmented reality has also extended its roots onto the US market. In terms of hardware segment most of the prominent companies are US based, giving significant impetus to the growth of this market in the US as well as the whole of North America. 

The most often used strategy for developing a better hold on to the market has been through product launches, followed by partnerships and collaborations. Moreover, the company profiles section includes highlights of significant information about the key companies involved along with their financial positions. Some of the key players involved in this market are Samsung Electronics Co, Ltd., Microsoft Corporation, Google Inc., Seiko Epson Corporation, HTC Corporation, Intel Corporation, Qualcomm Inc., Himax Technologies, Vuzix Corporation, Oculus VR, LLC, Osterhout Design Group (ODG), Wikitude GMBH, and EON Reality.

The report is a compilation of different segments of global AR and VR market including a market breakdown by device type, component, and application. The report also discusses in detail about the key participants involved in the industry.
The report answers the following questions about the global AR and VR market:
•    What are the prevailing components, and device types in AR and VR?
•    What are the different application areas of AR and VR technologies?
•    What are the different factors driving the market forward in the forecast period?
•    What are the factors restraining the growth of global AR and VR market?
•    Who are the major participants in the global AR and VR market?
•    What kind of new strategies are being adopted by the existing market players to make a stronger mark in the industry?
•    Which region will lead the global AR and VR market by the end of forecast period?
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