The "Augmented and Virtual Reality Market By Organization Size, By Application, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

According to this report the augmented and virtual reality market size was valued at $27.6 billion in 2021, and is estimated to reach $856.2 billion by 2031, growing at a CAGR of 41.1% from 2022 to 2031.

Augmented and virtual reality solutions are used to offer digital immersive user experience that can be used for entertainment and business applications among various industry verticals. Virtual reality is an extensive term for a multi-sensory computer-generated experience, which enables users to experience and interact with a simulated environment.

On the contrary, augmented reality enhances the real world using digitally produced perceptual overlays. The global augmented and virtual reality market is anticipated to witness significant growth during the forecast period, owing to increase in penetration of smart devices and connected solutions.

Growth of the mobile gaming industry and increase in internet connectivity act as the key drivers of the global augmented and virtual reality market. In addition, increase in use of consumer electronic devices is expected to fuel the growth of the global market.

However, lack of effective user experience design and slow adoption of augmented and virtual reality solutions among underdeveloped economies are the major factors that impede the market growth. Conversely, technological advancements and rise in application areas among various industry verticals are expected to provide lucrative opportunities for the market growth.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the augmented and virtual reality market analysis from 2021 to 2031 to identify the prevailing augmented and virtual reality market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the augmented and virtual reality market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global augmented and virtual reality market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Organization Size

• Large Enterprises
• SMEs

By Application

• Consumer
• Enterprise

By Industry Vertical

• Gaming
• Entertainment and Media
• Aerospace and Defense
• Healthcare
• Education
• Manufacturing
• Retail
• Others

By Region

• North America
• U.S.
• Canada
• Europe
• Netherlands
• Rest Of Europe
• UK
• Germany
• France
• Italy
• Spain
• Asia-Pacific
• China
• Japan
• South Korea
• Australia
• India
• Rest Of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Market Players

• Alphabet
• DAQRI
• Facebook
• HTC
• Magic Leap, Inc.
• Microsoft Corporation
• OSTERHOUT DESIGN GROUP
• Samsung Electronics Co., Ltd
• SONY CORPORATION
• Wikitude GmbH

For more information about this report visit https://www.researchandmarkets.com/r/8of1a7-and?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20230127005304/en/

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