Augmented and virtual reality market will reach $856.2

PORTLAND, Oregon, September 15, 2022 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, Augmented and Virtual Reality Market Generated $27.6 billion in 2021, expected to reach $856.2 billion by 2031, and sees a 41.1% compound annual growth rate (CAGR) from 2022 to 2031. The report provides a comprehensive study of changing market trends, top segments, key investment pockets, and value chain , competitive scenario, and regional landscape. The report is an essential and useful source of information for prominent market players, investors, new entrants and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.

Report coverage and details:

Report coverage details
prediction period 2022-2031
base year 2021
Market size in 2021 $27.6 billion
Market size in 2031 $856.2 billion
compound annual growth rate 41.1%
Number of pages in the report 254
covered slices Enterprise size, application, vertical industry and area
drivers The spread of smart phones
Increasing the popularity of games
Cost-effective advantages of augmented and virtual reality based solutions
chances Increase affordability for the masses
limitations Lack of good user experience design

Covid-19 scenario:

  • The Covid-19 pandemic has favored the market growth due to the rise in the shift towards adoption of AR and VR technologies as most of the companies implemented work from home.
  • Digital transformation and Industry 4.0 has boosted the demand for augmented reality and virtual reality market. Moreover, players are collectively forced to deploy several new and agile methods to improve the consumer experience.

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The report provides a detailed segmentation of the global Augmented and Virtual Reality market based on organization size, application, industry sector, and region. The report provides an analysis of each segment and sub-sector with the help of tables and figures. This analysis helps investors, market players, and new entrants to identify the sub-sectors that will be tapped for growth in the coming years.

Depending on the size of the organization, the large corporate segment captured the highest share in 2021, contributing about two-thirds of the total share, and is expected to maintain its leadership position during the forecast period. However, the SME sector is expected to show the highest compound annual growth rate of 43.3% from 2022 to 2030.

Depending on the application, the consumer segment captured the largest share in 2021, accounting for more than half of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the enterprise segment is estimated to experience the largest compound annual growth rate in 42.4% during the forecast period.

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On the basis of industry segment, the gaming segment dominated the market in 2021, accounting for nearly a quarter of the global augmented and virtual reality market, and is expected to maintain its leading position throughout the forecast period. However, the retail segment is expected to display the highest compound annual growth rate of 44.4% during the forecast period.

Based on region, North America captured the highest share in 2021, contributing nearly two-fifths of the total market share, and is expected to continue its leadership position by 2031. However, the market across Asia Pacific is expected to portray the fastest rate Compound annual growth of 43.9% during the forecast period. The research also analyzes regions including Europe and LAMEA.

The world’s leading players Augmented and virtual reality industry The search analyzed in the search includes Google Inc. and Sony, Magic Leap, Inc. HTC, Microsoft Corporation, Osterhout Design Group, Facebook, DAQRI, Samsung Electronics Co., Ltd. and Wikitude.

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The report analyzes these major players in the global Augmented and Virtual Reality market. These players have adopted various strategies such as new product launches, expansion, partnerships, etc. to increase their market penetration and enhance their position in the industry. The report is useful in identifying business performance, operating segments, product portfolio, and developments specific to each market player.

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information about us

Allied Market Research (AMR) is a full-service market research and business consultancy of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research provides global institutions as well as medium and small businesses with unparalleled quality.”Market Research Reportsand “Business Intelligence Solutions.” AMR has a targeted vision to provide business insights and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their market space.

pawan kumar CEO, Allied Market Research, drives the organization towards providing high-quality data and insights. We are in professional corporate relationships with many companies and this helps us extract market data that helps us create accurate research spreadsheets and assures the utmost accuracy in our market forecasts. All the data presented in the reports published by us are extracted through preliminary interviews with senior officials from the leading companies in the respective field. Our methodology for acquiring secondary data includes in-depth online and offline research and discussions with knowledgeable professionals and analysts in the industry.


        

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