COVID-19 Impacts: Augmented Reality (AR) and Virtual Reality (VR) Market Will Accelerate at a CAGR of Over 35% Through 2020-2024 | The Increasing Demand for AR and VR Technology to Boost Growth | Technavio
Technavio has been monitoring the augmented reality (AR) and virtual reality (VR) market and it is poised to grow by $ 125.19 billion during 2020-2024, progressing at a CAGR of over 35% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Augmented Reality (AR) and Virtual Reality (VR) Market 2020-2024 (Graphic: Business Wire)
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alphabet Inc., DAQRI LLC, Facebook Inc., HP Inc., HTC Corp., Magic Leap Inc., Microsoft (News - Alert) Corp., Samsung Electronics Co. Ltd., Sony Corp., and Toshiba Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The increasing demand for AR and VR technology has been instrumental in driving the growth of the market. However, high development costs associated with AR and VR apps might hamper the market growth.
Augmented reality (AR) and Virtual reality (VR) market 2020-2024 : Segmentation
Augmented reality (AR) and virtual reality (VR) market is segmented as below:
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Augmented reality (AR) and Virtual reality (VR) market 2020-2024 : Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our augmented reality (AR) and virtual reality (VR) market report covers the following areas:
This study identifies the increasing number of M&A activities as one of the prime reasons driving the augmented reality (AR) and virtual reality (VR) market growth during the next few years.
Augmented reality (AR) and virtual reality (VR) market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the augmented reality (AR) and virtual reality (VR) market, including some of the vendors such as Alphabet Inc., DAQRI LLC, Facebook (News - Alert) Inc., HP Inc., HTC Corp., Magic Leap Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sony Corp., and Toshiba Corp. Backed with competitive intelligence and benchmarking, our research reports on the Augmented reality (AR) and Virtual reality (VR) market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Augmented reality (AR) and Virtual reality (VR) market 2020-2024 : Key Highlights
Table Of Contents :
Five Forces Analysis
Market Segmentation by Technology
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