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MRFR Report: Virtual Reality and Augmented Reality Market projected to have a stellar growth

MRFR Report: Virtual Reality and Augmented Reality Market projected to have a stellar growth

patrickrisa April 10, 2019

A report published by Market Research Future (MRFR) has revealed that the market for Augmented Reality and Virtual Reality has shown the likelihood of registering an increase during the assessment period. This growth is likely to be witnessed due to the booming of the gaming industry and the increase in the demand for head-mounted displays. This period when the market is said to register a CAGR of 73.3% is supposed to be witnessed in the period between 2018 and 2015. The Virtual Reality and the Augmented Reality market is supposed to increase due to massive demand from various sectors ranging from Healthcare, Education, Gaming, and Entertainment. The significant players according to the report who are expected to increase the AR and VR market are the Retail and E-commerce.  Some of the E-commerce platforms, for example, Amazon and Flipkart are implementing Virtual Reality to transform the online shopping experience.

Virtual Reality and Augmented Reality Market Segmentation

Market Research Future (MRFR) has subdivided the AR and VR market according to the application and product type. By product type, the market is subdivided into fully-immersive, semi-immersive and non-immersive systems. According to MRFR, the non-immersive systems market will lead the VR and AR market growth. Non-immersive systems market is projected to grow to reach a revenue of $228.42 Billion in the year 2025, and its current valuation is at $3.41 billion. Based on application, the AR and VR market is divided into Social Media, Education, and Training Video Games, Tourism and Media. Based on Application, the video games segment is projected to lead the market with a valuation expected to reach $217.26 billion in the year 2025. At the end of the same period, the U.S. is expected to lead the market growth, and it’s expected to gain a revenue of 307.91 billion approximately. The MRFR report also outlined some of the key players in the growth of the AR and VR market, and this includes Google LLC, Microsoft Corporation, Zapper Limited, Facebook Inc, HTC Corporation and Sony Corporation.

Image Credit: cbinsights


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