Acumen Research and Consulting, a global provider of market research reports, in a recently released report titled “Augmented Reality and Virtual Reality Market Size: Global Industry, Share, Analysis, Trends, and Forecast 2022 – 2030,” estimates that the Global VR and VR market is expected to reach market value of over $451.5 billion by 2030 and is expected to grow at over 38.5% CAGR during the period 2022 – 2030. The report comprises the actual historical market size for the period 2022 – 2030 and the forecast for the period 2022 – 2030. Some of the factors driving the growth of the global augmented reality and virtual reality market include increasing investments in R&D, the rapid growth in demand for mobile and tampered devices. The growing demand for ARVR technology in the healthcare sector for training through 3D modeling is also driving the growth of the ARVR market globally.

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Market segment information

The augmented reality and virtual reality market is segmented based on device type, component, technology, platform, device application, and geography. Based on the device type, the global ARVR market is segmented into Augmented Reality Devices and Virtual Reality Devices. Augmented reality devices are further segmented into Head-Mounted Displays (HMDs), Heads-Up Displays (HUDs), and Handhelds, while VR headsets are further segmented into Head-Mounted Displays (HMDs). , Gesture Control Devices (GCDs), and projects. and shows the wall. Also, Gesture Control Devices (GCDs) are sub-classified into Data Gloves and Others. By technology, the market is bifurcated into marker-based augmented reality, markerless augmented reality, and virtual reality technology. Also, marker-based augmented reality is segmented into active marker and passive marker. Also, markerless augmented reality forks into model-based tracking and image processing. Furthermore, virtual reality technology is segmented into non-immersive technology and semi-immersive and fully immersive technologies. On the basis of component, the global Augmented Reality and Virtual Reality market is categorized into Hardware and Software. Hardware is sub-segmented into 3D cameras and semiconductor components, displays, and sensors.

Furthermore, semiconductor components further branch into integrated circuits (ICs), controller/processor, and others. Sensors are divided into accelerometer, gyroscope, magnetometer, proximity sensors, and global positioning systems. Also, the software is divided into cloud-based services and software development kits (SDKs). According to the platforms, the market is segmented into mobiles, consoles, PCs and others. Based on the device application, it is classified into augmented reality application, virtual reality application. Augmented Reality Application is sub-segmented into Business, E-Learning, Tourism, E-Commerce & Marketing, and Consumer Applications. Other e-commerce and marketing applications branch into real estate, footwear, beauty (cosmetics), jewelry toning, garment fitting, furniture and lighting design, grocery shopping, and business vertical overview. Additionally, consumer apps are categorized into Gaming, Sports & Entertainment, Aerospace & Defense, Medical, and Other. Entertainment applications include theme parks, art galleries and exhibits, museums (archaeology), and vertical consumer overview. The Medical Applications segment is categorized into Surgery, Pharmacy Management, Medical Training, Fitness Management, and General Medical Segment Review. The other applications of augmented reality technology include automotive, geospatial mining, business solutions, and architecture and building design.

Virtual reality applications are segmented into commercial, consumer, aerospace and defense, medical, industrial, and other. In addition, the commercial is divided into fashion and advertising and the consumer is segmented into games. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Additionally, North America is segmented into the US, Canada, and the rest of North America. Also, Europe is bifurcated into major countries like Germany, France, Italy, and the rest of Europe. Asia-Pacific is subclassified into China, India, Japan, South Korea, and Rest of Asia-Pacific. Rest of the world is further segmented into the Middle East and Africa and Latin America.

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Regional information

The APAC region is the fastest growing market for ARVR due to the growing consumer market in countries such as South Korea, Japan, and China. The increasing demand for ARVR in various industries, such as real estate, medical, entertainment, aerospace and defense, and education, is also driving the growth of the global augmented reality and virtual reality market. In addition, the increasing demand for smartphones and handheld devices is making augmented reality and virtual reality technology more popular among manufacturers of video games and handheld devices. In the aerospace and defense sector, ARVR technology is used to implement display information such as horizon line, aircraft speed, and altitude. In the healthcare sector, ARVR technology is used in nursing training through 3D modeling, various medical equipment, and health monitoring devices.

Some of the key players operating in the Augmented Reality and Virtual Reality market and included in the report are Magic Leap, Inc., Oculus VR, EON Reality, Inc., Qualcomm Technologies Inc., Samsung Electronics Co. Ltd., CyberGlove Systems LLC, Vuzix Corporation, Microsoft Corporation, Google Inc., Augmented Pixels Co., Catchoom, Virtalis Ltd., Innovega Inc., Laster Technologies, Facebook Inc., NIVIDIA Corporation, and Advanced Micro Devices, Inc., among others.

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