LONDON--(BUSINESS WIRE)--The global augmented reality (AR) and virtual reality (VR) market size is expected to grow by USD 125.19 billion during 2020-2024, progressing at a CAGR of over 35% during the forecast period.
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The increasing demand for AR and VR technology is one of the major factors propelling the market growth. However, factors such as the high development costs associated with AR and VR apps might hamper growth.
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Global Augmented Reality (AR) And Virtual Reality (VR) Market: Technology
Based on the technology, the market saw maximum growth in the augmented reality segment in 2019. Factors such as new product (hardware and software) launches, growing adoption of AR in different application areas, and rising funding and investments in AR technology are fueling the growth of the segment. Market growth in this segment will be significant over the forecast period.
Global Augmented Reality (AR) And Virtual Reality (VR) Market: Geographic Landscape
APAC dominated the market with a 37% share in 2019. Factors such as the presence of key vendors, the growing gaming industry in Asia, especially in Japan, China, and India, and rising investments in AR and VR technologies in different fields are driving the growth of the AR and VR market in APAC. China and Japan are the key markets for the augmented reality and virtual reality market in APAC.
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Companies Covered
- Alphabet Inc.
- DAQRI LLC
- Facebook Inc.
- HP Inc.
- HTC Corp.
- Magic Leap Inc.
- Microsoft Corp.
- Samsung Electronics Co. Ltd.
- Sony Corp.
- Toshiba Corp.
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2020, 2021, till 2025
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Augmented Reality (AR) And Virtual Reality (VR) Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in augmented reality (AR) and virtual reality (VR) market growth during the next five years
- Estimation of the augmented reality (AR) and virtual reality (VR) market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the augmented reality (AR) and virtual reality (VR) market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of augmented reality (AR) and virtual reality (VR) market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Technology
- Market segments
- Comparison by Technology
- AR - Market size and forecast 2019-2024
- VR - Market size and forecast 2019-2024
- Market opportunity by Technology
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor Landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Alphabet Inc.
- DAQRI LLC
- Facebook Inc.
- HP Inc.
- HTC Corp.
- Magic Leap Inc.
- Microsoft Corp.
- Samsung Electronics Co. Ltd.
- Sony Corp.
- Toshiba Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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