Virtual and Augmented Reality Market to Witness Swift Growth Due to Increasing Usage in Defense and Commercial Applications: Radiant Insights, Inc.
SAN FRANCISCO, April 9, 2019 /PRNewswire/ -- Global Virtual and Augmented Reality Market is expected to witness a massive growth in the forecast period. The growth of science and technology has been tremendously striking in all countries globally. With these emerging technological advancements, virtual and augmented reality come into the picture, which has been a substantial reason for the development of technologies. Augmented Reality adds all the digital elements that are vastly used for cameras on smartphones, whereas Virtual Reality closes the connection with the physical world by implying a complete immersion experience. Considering the growth of virtual reality, this technology is used in medical studies to enable the students to study more about the human body structure. It is also widely used in the research laboratories so that scientist can effortlessly research on the desired topics.
Virtual reality is also vastly engaged in entertainment such as movies and games to make the experience more thrilling and real. Most importantly, virtual reality is a major part of defense and aerospace so that the soldiers can get familiar with the different areas on the battlefield. Thus, all these factors make a strong base for the market and helps to grow magnificently. But, virtual and augmented reality market have foreseen a decline as the types of equipment that are used in virtual reality are very expensive and comprises a complex technology. Yet, consumers are heavily demanding for this technology because it enables them to explore places and it creates a realistic world. Looking at this mammoth hype, existing, as well as new investors, have started investing tremendously in the R&D activities of this market that will also encourage the manufacturers to come up with some intense innovations.
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Thus, the virtual and augmented reality market will foresee an enormous development in the near future. The virtual and augmented reality market is segmented based on component (hardware, software, service); by end user (education, healthcare, retail, gaming, construction, media and entertainment, automotive, defense and aerospace, manufacturing energy) and by region (North America, Europe, Asia Pacific, Middle East & Africa, South America). The hardware component is further sub-divided on the basis of head mounted display, head up display, glasses, console, sensor/input, camera and projector. Among all the mentioned regions the Asia Pacific has been experiencing some significant changes in the adoption of new advancements and technologies. Also, due to the extended number of panel manufacturers, this region has been witnessing an upsurge in the adoption of the latest technologies.
The investments in defense and commercial application have been escalating, which would boost the growth of the market. In the near future, virtual and augmented reality market will continue to come up with some extraordinary product innovations to attract new consumers and investors, for them to continue the domination. Some of the significant key players outlined in the virtual and augmented reality market report are DAQRI, Vuzix Corporation, Starbreeze, Sony, Samsung Electronics, Razer, Oculus VR, LLC, Microsoft Corporation, Meta Company, HTC, Google Inc., FOVE, BAE Systems, Atheer and Qualcomm Inc. All the leading companies are including mergers and acquisitions, partnerships and joint ventures to enhance the growth of the virtual and augmented reality market efficiently.
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- Geographically, this report is segmented into several key Regions, with production, consumption, revenue (M USD), market share and growth rate of Virtual and Augmented Reality in these regions, from 2012 to 2023 (forecast), covering
o North America (United States, Canada and Mexico)
o Europe (Germany, France, UK, Russia and Italy)
o Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
o South America (Brazil, Argentina, Columbia)
o Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
- Global Virtual and Augmented Reality market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
o Google
o Samsung Electronics
o Microsoft Corporation
o Sony Interactive Entertainment
o Oculus VR LLC
o HTC Corporation
o ZeroLigh
o EON Reality
o Nokia Corporation
o Barco
o Blippar.com Ltd
o Aurasma Ltd. (Hewlett-Packard Development Company. L.P)
o MindMaze SA
o Virtalis
o Manus Machinae
- On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
o Hardware (Head Mounted Display, Head Up Display, Glasses, Console, Sensor/Input, Camera, and Projector)
o Software
o Service
- On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Virtual and Augmented Reality for each application, including
o Healthcare
o Education
o Retail
o Gaming
o Construction
o Media and Entertainment
o Automotive
o Defense and Aerospace
o Manufacturing
o Energy
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