Virtual and Augmented Reality Market .pdf
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High Bandwidth is Expected to Play a Crucial Role in
the Growth of Virtual and Augmented Reality Market
Augmented reality is the integration of digital and real environment in real time, whereas
virtual reality creates a digital environment to provide real lifelike experience to the user.
From providing a virtual tour of the house to prospect buyers, watching a football game
in immersive augmented reality or interacting with doctors remotely are some of the
examples which shows the potential of the virtual and augmented reality market.
Moreover, increasing technical advancement such as development of head mounted
displays and smart glasses, declining product price or creating new application space
either business or consumer increase the market globally. Moreover, expected
deployment of next-generation 5G networks, characterized by high stability and high
bandwidth is expected to play a crucial role in the growth of virtual and augmented
reality market. The live streaming, social video viewing and tourism segments will
accelerate growth of the augmented and virtual reality market globally.
The adoption of technology in digital entertainment and media segment
accelerates the virtual and augmented reality market.
The digital entertainment segment plays a major role for the growth of the global virtual
and augmented reality market. The film producers, professional sports leagues and
associations have showed significant interest in adopting the technology. For example:
In 2015, the NBA golden state warriors experimented with NextVR technology to stream
their regular-session for individuals using Samsung Gear headsets. With this, the music
and adult segment have also adopted the augmented and virtual technology to produce
a 3D content which accelerates their viewers globally. The adoption of virtual reality and
augmented reality technology by news industry is a new space which uplift the market.
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For example: In 2015, the New York Times have officially announced that they have a
virtual reality project collaboration with google which provides a subscription to millions
of VR cardboard viewers. The New York Times news magazines released a virtual
reality film which shows children’s eradicated due to war. Hence this showed the new
path to the other news providers to increase and retain their viewers which fuels the
augmented and virtual reality market in this segment. Moreover, the On-demand series
providers have also adopted the virtual reality technology. For example: In 2016, the
HBO adopted the virtual reality 360 degree content for famous series game of thrones.
Figure. Global Augmented reality and Virtual Reality Market, By Application
SOURCE: COHERENT MARKET INSIGHTS ANALYSIS
Asia Pacific augmented and virtual reality market is projected to grow with the
highest CAGR in the forecast period.
On the basis of geography, the augmented and virtual reality market is segmented into
North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The Asia
pacific region market is projected to grow with highest CAGR in the forecast Period.
India, China, Japan are some of the major countries which drives the augmented reality
and virtual reality market in this region. The increasing startup in this region would help
in accelerating the virtual and augmented reality market. According to economic survey
2015-2016 released by Government of India, the country has over 19,000 technology
enabled startups driven by consumer internet and financial services startups. Moreover,
according to survey report in 2015, the India startup raised US$ 3.5 billion. Hence, this
increasing startup and investments helps to fuels the virtual reality and augmented
reality market in this region.
Key Companies- Global Augmented and Virtual Reality Market.
Some of the major companies in the global augmented and virtual reality market are
Blippar Inc., Cyberglove Systems LLC., Daqri LLC, EON Reality, Inc., Google Inc.,
Infinity Augmented Reality Inc., Magic Leap, Inc., Meta Company, Metaio GmbH,
Microsoft Corporation, Oculus VR, LLC, Osterhout Design Group (ODG), Qualcomm
Inc., Samsung Electronics Co., Ltd., Vuzix Corporation.
For More Information
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering
action-ready syndicated research reports, custom market analysis, consulting services,
and competitive analysis through various recommendations related to emerging market
trends, technologies, and potential absolute dollar opportunity.
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