Massachusetts, USA, April 07, 2022 (GLOBE NEWSWIRE) — The consumer application dominates the AR & VR industry. The most prominent industry in which mobile AR has been utilised has been gaming. Pokémon Go has dominated the market and has greatly contributed to market growth. Because of its use in gaming, sports and entertainment, VR HMDs are in high demand in consumer applications. The usage of head-mounted displays (HMDs) as smart glasses in sports (such as skiing and combat games) is growing.
The compatibility of smartphones with AR is critical to the broad adoption of mobile AR. Only approximately 10% of smartphones are now compatible with AR technology, but with the increasing compatibility features supplied by mobile developers, AR use in smartphones is likely to expand.
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The COVID-19 pandemic is projected to have a favorable influence on the growth of the AR and VR market for healthcare applications, since AR VR HMDs are expected to be widely utilised as protective gear by medical personnel in the near future. COVID-19 has had a detrimental influence on the market’s supply chain owing to lockdowns and limited cross-border trading. Because of the COVID-19 epidemic, the worldwide consumer market for AR and VR is anticipated to expand slowly in the future years. The widespread shutdown of consumer markets has impacted the selling of devices such as HMDs and projectors. However, the VR market is likely to restore full velocity by 2023.
Read market research report, “Global AR/VR/MR Market segmented By Offering (Software, Hardware) By Industry Vertical (Gaming, Entertainment & Media, Aerospace & Defense, Healthcare, Education, Manufacturing, Retail, and Others) & By Region – Forecast and Analysis 2020-2027” by SkyQuest
Increasing app-store income from in-app and premium app sales will be a crucial aspect in the AR & VR market’s growth. AR-as-a-Feature might be the next big money generator. The content production necessary for gaming and entertainment would be the primary driver of the consumer VR market’s growth.
APAC is likely to be the fastest to adopt augmented reality and virtual reality technologies. China, Japan, and India have a strong potential for market expansion in the future.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
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SkyQuest has segmented the global AR/VR/MR market based on frequency type, node type, deployment, vertical outlook, and region:
AR/VR/MR market by offer
AR/VR/MR market by Industry vertical
- Entertainment & Media
- Aerospace & Defense
AR/VR/MR market by region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central & South America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
List of Key Players of AR/VR/MR Market
- Google Inc. (US)
- Microsoft Corp. (US)
- Sony Corp. (Japan)
- Oculus VR (US)
- Samsung Electronics Co. Ltd. (South Korea)
- Seiko Epson
- Lenovo (US)
- Magic Leap Inc. (US)
- Vuzix (US)
- Apple Inc. (US)
- PTC Inc. (US)
- Leap Motion (US)
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