Global Augmented and Virtual Reality Market Is Anticipated To Reach Around USD 96.92 Billion by 2032

Zion Market Research has published a new report titled “Augmented and Virtual Reality Market by Device (Head-Mounted Display (HMD), Handheld Device, Head-Up Display (HUD), Projector and Display Wall, Gesture-Tracking Device, and Others), by Offering (Hardware and Software), by Application (Consumer, Commercial, Enterprise, and Others), and by Vertical (Entertainment & Media, Gaming, Healthcare, Aerospace & Defense, Manufacturing, Retail, Education, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global augmented and virtual reality market was valued at around USD 12.82 billion in 2023 and is expected to reach approximately USD 96.92 Billion by 2032 , at a CAGR of 25.2% between 2024 and 20232.

Augmented reality uses a user’s existing environment and adds a digital element in it. Its prime function is to provide 3D digital experiences in a live environment. Virtual reality, on the other hand, completely lets the consumers in into an artificial environment, which can also be termed as computer-generated 3D environments.

Browse the full “Augmented and Virtual Reality Market by Device (Head-Mounted Display (HMD), Handheld Device, Head-Up Display (HUD), Projector and Display Wall, Gesture-Tracking Device, and Others), by Offering (Hardware and Software), by Application (Consumer, Commercial, Enterprise, and Others), and by Vertical (Entertainment & Media, Gaming, Healthcare, Aerospace & Defense, Manufacturing, Retail, Education, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024–2032” Report at https://www.zionmarketresearch.com/report/augmented-and-virtual-reality-market

AR and VR hold high importance in the media and entertainment industry as it is utilized for numerous applications and has created a revolution. Over the last several years, AR and VR have become a necessity for the film making industry. Many players of the media and entertainment industry, be it Hollywood or any other film industry, are rapidly adopting AR and VR. In the last three to five years, the evolution of VR and AR production has been rapid globally. The entertainment and media industry is anticipated to account for more than USD 2,201 billion by 2020. The growing demand for AR and VR is anticipated to fuel the augmented and virtual reality market over the forecast time period. With rising technological advancements and increasing demand for AR and VR in the film sector, the media and entertainment industry is facing the threat of shortage in the availability of skilled artists. Another factor that may hamper this market’s growth is the requirement of huge capital investment for the development of AR and VR devices. Moreover, the growing demand for new technology across the smart manufacturing industry is estimated to create new opportunities for the global augmented and virtual reality market over the forecast timeframe.

The global augmented and virtual reality market is segmented based on device, offering, application, and vertical. The device segment includes a head-mounted display (HMD), handheld device, head-up display (HUD), projector, and display wall, gesture-tracking device, and others. The offering segment is classified into hardware and software. The hardware segment is further classified into semiconductor offerings, position trackers, displays and projectors, cameras, sensors, and others. The software segment further includes cloud-based software, software development kits, VR content creation, and AR software functions. By application, the market is classified into consumer, commercial, enterprise, and others. The consumer application segment is projected to hold a substantial market share over the estimated timeline. By vertical, the market includes entertainment and media, gaming, healthcare, aerospace and defense, manufacturing, retail, education, and others.

By region, Asia Pacific is projected to hold a substantial share of the global augmented and virtual reality market over the estimated timeframe. This can be attributed to the growing demand for augmented and virtual reality technology in the gaming sector. 

Some key participants operating in the global augmented and virtual reality market are Sony, HTC, Microsoft, PTC, Google, Samsung Electronics, Zugara, DAQRI, Wikitude, Upskill, Osterhout Design Group, Magic Leap, Blippar, EON Reality, Visteon, Zugara, MAXST, Vuzix, and Continental, among others.

This report segments the global augmented and virtual reality market into:

Augmented and Virtual Reality Market: Device Analysis

• Head-Mounted Display (HMD)
• Handheld Device
• Head-Up Display (HUD)
• Projector and Display Wall
• Gesture-Tracking Device
• Others

Augmented and Virtual Reality Market: Offering Analysis

• Hardware
  • Semiconductor Components
  • Position Trackers
  • Displays and Projectors
  • Cameras
  • Sensors
  • Others
• Software
  • Cloud-Based Services
  • Software Development Kits
  • VR Content Creation
  • AR Software Functions

Augmented and Virtual Reality Market: Application Analysis

• Consumer
• Commercial
• Enterprise
• Others

Augmented and Virtual Reality Market: Vertical Analysis

• Entertainment and Media
• Gaming
• Healthcare
• Aerospace and Defense
• Manufacturing
• Retail
• Education
• Others

Augmented and Virtual Reality Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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