Augmented Reality-Virtual Reality Market GrowsJuly 23, 2013
A recent MarketsandMarkets report predicts that augmented reality and virtual reality sales will grow at a CAGR of 15.18%, from 2013 to 2018, and reach 1.06 billion in 2018.
DALLAS /PRNewswire/ -- According to a new market research report titled "Augmented Re ality & Virtual Reality Market - By Technology (Mobile & Spatial AR, Semi & Fully Immersive VR); By Sensors & Components (Accelerometer, Data Glove, HMD, ICs); By Applications (Medical, Military, Gaming), By Geography (2013–2018)," published by MarketsandMarkets, the augmented reality (AR) and virtual reality (VR) market is expected to grow at a CAGR of 15.18%, from 2013 to 2018, and reach 1.06 billion in 2018. The data mentioned is for dedicated AR and immersive VR systems only. Separate analysis for mobile-based AR and nonimmersive VR is done. Early buyers will receive 10% customization on this report.
AR is a thriving technology, where digital data merge with the real world. This technology superimposes the real world with computer-generated data, which completely changes the user experience. It changes what we hear, feel, and see. The AR technology uses VR to amend the real world. AR and VR can offer a wide range of emerging applications.
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AR technology has shown ubiquitous growth in mobile phone technology, featured with a camera and a GPS, which allow the users to experience the technology beyond their anticipation. By 2015, the AR technology will be widely used in the education field for advanced learning and for teaching technologies. AR and VR technologies will be used to contribute to projects with smart innovations in the future due to its great fascination and potential.
The overall augmented reality and virtual reality market is divided into four major segments:
- AR and VR components and sensors
- AR and VR technology
- AR and VR application
All the major segments are further segmented into subsegments. All the segments and subsegments are separately described in the report.
The global dedicated-devices AR market is expected to reach $659.98 million by 2018, and the immersive VR market is expected to reach $407.51 million by 2018. The mobile-based AR and nonimmersive VR market analysis is done separately to maintain the mutual exclusiveness of data sets.
The major driving forces of AR technology and VR are the advancement in computer technology and Internet connectivity. The increased demand for VR and AR applications in the healthcare industry is a direct cause of the tremendous growth in AR and VR market. The other driving force for VR and AR technology is the consumer demand in m-commerce industry. The technology used in AR applications (i.e., marker-less is at the apex and is expected to grow rapidly. The major driving factor in this marker-less is use of GPS and compass in smartphones. The technology used in VR applications, sensors, emerging trends like goggles, contact lens, and further opportunities are described in detail in the report.
The geographical split for every application is included in the report as the market share of different applications of the AR and VR market varies from one region to another. This report describes the overall market into four major geographical segments: North America, Europe, APAC, and ROW. North America and Europe are the market leaders in the overall AR and VR market, followed by APAC. ROW, the Middle East, and Africa are coming up with this technology because of its benefits in wide range of applications.
The major companies offering AR and VR technology in various applications are:
- Total Immersion (France)
- Qualcomm Inc (U.S.)
- Metaio GmBH (Germany)
- Vuzix Corp. (U.S.)
- Layar B.V (The Netherlands)
- Wikitude GmBH (Austria)
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