Global AR and VR Market 2018 – 2024: Focus on Component Type, Device Type and Application Areas

The AR and VR market is driven by the factors such as increasing responsiveness about this technology, rapid acceptance of AR and VR technology among various industry domains and the amalgamation of AR and VR to develop the mixed reality that can be implemented for prospective applications.

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The tablet-based and mobile-based AR and VR technology is observing rapid application form the key players operating in education, interior designing, e-commerce, architecture, and furnishing.

On the basis of component, the AR and VR market is segmented into hardware and software. The hardware segment accounts for the larger revenue in this segment of AR and VR market globally.

The growth of this market is attributed towards increasing investment in defense and commercial domain in this region. The existence of a large number of display board industrialists along with technological enhancements are the key factors bolstering the growth of AR and VR market.

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The market structure for global augmented reality and virtual reality market is fragmented and some of the key players operating in the AR and VR market across the globe include Alphabet Inc., Oculus VR, LLC, Microsoft Corporation, Qualcomm Technologies Inc., Intel Corporation, Himax Technologies Inc., Samsung Electronics Co. Ltd., PTC Inc., and Sony Corporation.

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