TOKYO, December 27, 2022 (GLOBE NEWSWIRE) — The Global Augmented Reality and Virtual Reality Market The size represented USD 22.6 billion in 2021 and is estimated to reach a market size of USD 451.5 billion by 2030, growing at a CAGR of 38.5% between 2022 and 2030.

Statistics of the Augmented Reality and Virtual Reality market

• Global augmented reality and virtual reality market revenue was worth $22.6 billion in 2021, with a CAGR of 38.5% from 2022 to 2030
• Asia-Pacific AR and VR market share reached over 35.4% in 2021
• According to a study, the rise of AR/VR technology in the United States alone will generate 2.3 million jobs in the coming years.
• By component, the hardware category captures more than 61.2% of the total market share in 2021
• Growing acceptance in the military and defense industries drives the market value of augmented reality and virtual reality

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Augmented Reality and Virtual Reality Market Report Coverage:

Augmented Reality and Virtual Reality Market Overview

The market for augmented reality and virtual reality significantly expands the spectrum of daily tasks that connected devices can assist with, including information search, commerce and other activities, while virtual reality allows users to travel the world world from the comfort of their homes. VR technology generates a simulated environment for its consumers, allowing them to perceive the real presence of the games.

Augmented reality and virtual reality market trends

The key drivers of the market are the increasing use of the Internet and the booming video game industry. The AR and VR market will rise rapidly during the forecast period due to the increasing uses of virtual reality and augmented reality in sectors such as retail, entertainment, healthcare, media, aerospace, manufacturing and the defense. Also, governments around the world are encouraging the use of different technologies and new technologies to help the automotive industry and manufacturing sectors prosper. Also, for on-site digitization and enhancements, business and business solutions rely heavily on AR technology. As a result, such aspects are responsible for a larger market share.

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Segmentation of the Augmented Reality and Virtual Reality market

The global market for augmented reality and virtual reality has been segmented by Acumen Research and Consulting based on device type, device component, technology, platform, and application. By device type, the segment is divided into augmented reality devices (head-up displays (HUDs), head-mounted displays (HMDs), and wearables) and virtual reality devices (head-mounted displays (HMDs), projects, and wall displays and gesture control devices (GCD)).

In terms of components, the market is classified into hardware and software. According to the Augmented Reality and Virtual Reality market forecast, the hardware category is anticipated to develop significantly in the coming years.

On the basis of technology, the market is categorized into marker-based augmented reality, markerless augmented reality, and virtual reality technology. In terms of platform, the market is categorized into mobile, PC, console, and others. In addition, the market is divided into augmented reality applications (business, tourism, e-learning, e-commerce and marketing, medical, consumer, aerospace and defense applications, and others) and virtual reality applications (commercial, aerospace and defense, industrial). , consumer, medical, and others), depending on the device application.

Regional overview of the augmented reality and virtual reality market

Based on the region, the segmentation of the global augmented reality and virtual reality market is into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. According to a review of the virtual and augmented reality industry, the Asia-Pacific area is the fastest growing market. The expanding consumer segment in countries like Japan, South Korea, and China is responsible for ARVR growth. The growing need for ARVR in sectors such as medicine, entertainment, real estate, aerospace and military, and education is also driving the global market for augmented reality and virtual reality. Furthermore, as the demand for mobile phones and handheld devices grows, augmented reality and virtual reality innovation is becoming more and more popular among producers of computer games and handheld devices. ARVR technology is used in the aerospace and defense industries to display information such as aircraft speed, horizon line, and altitude. ARVR technology is used in clinical teaching, various medical devices, and wellness monitoring systems in the healthcare industry.

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Augmented Reality and Virtual Reality Market Players

Some of the prominent companies in the augmented reality and virtual reality market are Qualcomm Technologies Inc., Vuzix Corporation, Oculus VR, Samsung Electronics Co. Ltd., Laster Technologies, CyberGlove Systems LLC, Google Inc., Innovega Inc., Facebook Inc. , Microsoft Corporation, NIVIDIA Corporation, EON Reality, Inc., Magic Leap, Inc., Augmented Pixels Co., and Advanced Micro Devices, Inc.

Questions answered by this report

• What was the market size of the Augmented Reality and Virtual Reality Market in 2021?
• What will be the CAGR of the Augmented Reality and Virtual Reality market during the forecast period of 2022 to 2030?
• Who are the leading vendors in the global Augmented Reality and Virtual Reality market?
• Which region had the largest share of the Augmented Reality and Virtual Reality market in 2021?
• What are the key drivers of the Augmented Reality and Virtual Reality market?
• Who is the largest end-user of the Augmented Reality and Virtual Reality Market?
• What will be the market value of Augmented Reality and Virtual Reality in 2030?

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