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Augmented Reality and Virtual Reality Market Size to Grow by USD 162.71 billion | Increasing demand for VR and AR technology to boost the growth | Technavio
[June 28, 2022]

Augmented Reality and Virtual Reality Market Size to Grow by USD 162.71 billion | Increasing demand for VR and AR technology to boost the growth | Technavio


NEW YORK, June 28, 2022 /PRNewswire/ -- The Augmented Reality (AR) and Virtual Reality (VR) Market size is expected to increase by USD 162.71 billion. Moreover, the growth momentum of the market will accelerate at a CAGR of 46% during the forecast period. The report extensively covers augmented reality (AR) and virtual reality (VR) market segmentation by technology (AR and VR) and geography (North America, APAC, Europe, MEA, and South America).

To understand more about Market Dynamics. Download sample report

Key Augmented Reality and Virtual Reality Market Report Highlights:

  1. YoY growth (%): 25.13%
  2. Performing market contribution: APAC at 34%
  3. Key consumer countries: US, China, and Japan

Regional Market Analysis

APAC will account for 34% of market growth. The main markets for virtual reality and augmented reality in APAC are China and Japan. This region's market will expand more quickly than those in other areas.

Over the course of the forecast period, factors including the presence of key vendors, the expansion of the gaming industry in Asia, particularly in Japan, China, and India, and rising investments in AR and VR technologies to broaden their applications in various industries will support the growth of the augmented reality (AR) and virtual reality (VR) markets in APAC.

For additional information about the regional market, Request a sample report.

Key Vendors and their Offerings

Alphabet Inc., Facebook Inc., HP Inc., HTC Corp., Magic Leap Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Snap Inc., Sony Corp., and Toshiba Corp., among others., are some of the key vendors in the augmented reality and virtual reality market. The offerings of a few of these vendors are listed below:

  • Alphabet Inc. - The company offers AR and VR under the brand name Google AR & VR.
  • Facebook Inc. - The company offers AR and VR under the brand name Oculus virtual reality products.
  • HP Inc. - The company offers AR and VR under the brand names Workstation Class VR: HP Z840 Workstation, Production Class VR: HP Elite 800 VR Ready PCs, Mainstream VR: HP Z440 Workstation, HTC Vive Head-Mounted Displays and HP Sprout PRO.
  • HTC Corp. - The company offers AR and VR under the brand name VIVE Enterprise Solutions.
  • Magic Leap Inc. - The company offers AR and VR for applications including Health, Defense and Public Sector, Manufacturing, Oil and Gas, Automotive, Transport and Architecture, Engineering and Construction.

Buy sample report to get a brief understanding about various other vendors and their offerings.

Key Market Driver

  • Increasing demand for VR and AR technology:
    • A rising number of customers are actively looking for information related to VR. AR and VR applications enable users to use the technology in a more user-friendly manner. Wearable technology platforms will likely enhance the utility of AR. The growing application area of AR and VR technology in different fields, such as education, medical, retail, and training, will further boost the growth of the global AR and VR market.

Key Market Trend

  • Adoption of various business strategies by vendors:
    • The increasing number of partnerships and collaborations among vendors will drive the growth of the global AR and VR market during the forecast period. Vendors are opting for diverse business strategies, such as partnerships and collaborations, with end-users and other vendors. This will help them improve and upgrade their product portfolios and explore new application areas for their AR and VR software platforms. Such strategies are expected to drive the growth of the global AR and VR market during the forecast period.

To know about a few other market drivers, trends, and challenges. Get sample report

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Augmented Reality (AR) and Virtual Reality (VR) Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 46%

Market growth 2021-2025

$ 162.71 billion

Market structure

Fragmented

YoY growth (%)

25.13

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

APAC at 34%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alphabet Inc., Facebook Inc., HP Inc., HTC Corp., Magic Leap Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Snap Inc., Sony Corp., and Toshiba Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.


Table of Contents

1. Executive Summary                           

2. Market Landscape                             

                2.1 Market ecosystem             

                                Exhibit 01:  Parent market

                2.2 Market Characteristics      

                                Exhibit 02:  Market Characteristics

                2.3 Value chain analysis           

                                Exhibit 10:  Value chain analysis: Application software

                                2.3.1 Inputs 

                                2.3.2    Software development process

                                2.3.3    Marketing and distribution

                                2.3.4    Post-selling services

                                2.3.5    Innovation

3. Market Sizing                       

                3.1 Market definition

                                Exhibit 11:  Offerings of vendors included in the market definition

                3.2 Market segment analysis 

                                Exhibit 12:  Market segments

                3.3 Market size 2020 

                3.4 Market outlook: Forecast for 2020 - 2025 

                                Exhibit 13:  Global - Market size and forecast 2020 - 2025 ($ billion)

                                Exhibit 14:  Global market: Year-over-year growth 2020 - 2025 (%)

4. Five Forces Analysis                          

                4.1 Five Forces Summary        

                                Exhibit 15: Five forces analysis 2020 & 2025

                4.2 Bargaining power of buyers           

                4.3 Bargaining power of suppliers       

                4.4 Threat of new entrants    

                4.5 Threat of substitutes         

                4.6 Threat of rivalry   

                4.7 Market condition

                                Market condition - Five forces 2020

5.    Market Segmentation by Technology                    

                The segments covered in this chapter are:

  • AR
  • VR

The two segments have been ranked based on their market size in 2020. The AR segment constituted the largest segment in 2020, while the smallest segment was VR.

                5.1 Market segments

                                Exhibit 22:  Technology - Market share 2020-2025 (%)

                5.2 Comparison by Product    

                                Exhibit 23:  Comparison by Technology

                5.3     AR - Market size and forecast 2020-2025               

                                Exhibit 24:  AR - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 25:  AR - Year-over-year growth 2020-2025 (%)

                5.4     VR - Market size and forecast 2020-2025               

                                Exhibit 26:  VR - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 27:  VR - Year-over-year growth 2020-2025 (%)

                5.5     Market opportunity by Technology        

                                Exhibit 28:   Market opportunity by Technology

6. Customer landscape                         

Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                                Exhibit 29:  Customer landscape

7. Geographic Landscape                     

                The regions covered in the report are:

  • North America
  • APAC
  • Europe
  • MEA
  • South America

North America was the largest region of the market in 2020 and would improve its relative position in the overall market to become the second largest segment of the market in 2025. It would grow at a compounded annual growth rate of 42.99% between 2020 and 2025, which is slower than the overall market. North America would be the third-fastest growing region within the overall market and would grow from $10.32 billion in 2020 to $61.69 billion in 2025. North America would contribute 31.57% of the incremental growth in the overall market between 2020 and 2025.

                7.1 Geographic segmentation

                                Exhibit 30:  Market share by geography 2020-2025 (%)

                7.2 Geographic comparison   

                                Exhibit 31: Geographic comparison

                7.3 North America - Market size and forecast 2020-2025          

                                Exhibit 32:  North America - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 33: North America - Year-over-year growth 2020-2025 (%)

                7.4     APAC - Market size and forecast 2020-2025          

                                Exhibit 34:  APAC - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 35:  APAC - Year-over-year growth 2020-2025 (%)

                7.5     Europe - Market size and forecast 2020-2025       

                                Exhibit 36:  Europe - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 37:  Europe - Year-over-year growth 2020-2025 (%)

                7.6     MEA - Market size and forecast 2020-2025           

                                Exhibit 38:  MEA - Market size and forecast 2020-2025 ($ billion

                                Exhibit 39:  MEA - Year-over-year growth 2020-2025 (%)

                7.7     South America - Market size and forecast 2020-2025        

                                Exhibit 40:  South America - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 41:  South America - Year-over-year growth 2020-2025 (%)

                7.8 Key leading countries        

                                Exhibit 42: Key leading countries

                7.9     Market opportunity by geography           

                                Exhibit 43:  Market opportunity by geography ($ billion)

8. Drivers, Challenges, and Trends                   

                8.1 Market drivers     

                                8.1.1    Increasing demand for AR and VR technology

                                8.1.2    Product launches

                                8.1.3    Increasing number of M&A activities

                8.2 Market challenges              

                                8.2.1    High development costs associated with AR and VR apps

                                8.2.2    Risks associated with AR and VR applications

                                8.2.3    Limitations of AR and VR technology

                                Exhibit 46:  Impact of drivers and challenges

                8.3 Market trends      

                                8.3.1    Increasing popularity of coffee among millennials

                                8.3.2    Growing demand for premium and specialty coffee

                                8.3.3    Promotion strategies by vendors to increase coffee consumption

9. Vendor Landscape                             

                9.2 Vendor landscape               

                                Exhibit 48:  Vendor landscape

                9.3 Landscape disruption        

The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

                                Exhibit 49: Landscape disruption

                9.4 Industry risks        

                                Exhibit 50: Industry risks

10. Vendor Analysis               

                10.1 Vendors covered              

                                Exhibit 51: Vendors covered

                10.2 Market positioning of vendors    

                                Exhibit 52: Market positioning of vendors

                10.3  Alphabet Inc.    

                                Exhibit 53:  Alphabet Inc. - Overview

                                Exhibit 54:  Alphabet Inc. - Business segments

                                Exhibit 55:  Alphabet Inc. - Key offerings

                                Exhibit 56:  Alphabet Inc. - Segment focus

                10.4  Facebook Inc.   

                                Exhibit 57:  Facebook Inc. - Overview

                                Exhibit 58:  Facebook Inc. - Business segments

                                Exhibit 59: Facebook Inc. - Key news

                                Exhibit 60:  Facebook Inc. - Key offerings

                10.5  HP Inc.

                                Exhibit 61:  HP Inc. - Overview

                                Exhibit 62:  HP Inc. - Business segments

                                Exhibit 63:  HP Inc. - Key news

                                Exhibit 64:  HP Inc. - Key offerings

                                Exhibit 65:  HP Inc. - Segment focus

                10.6 HTC Corp.

                                Exhibit 66:  HTC Corp. - Overview

                                Exhibit 67:  HTC Corp. - Business segments

                                Exhibit 68:  HTC Corp. - Key offerings

                10.7  Magic Leap Inc.

                                Exhibit 69:  Magic Leap Inc. - Overview

                                Exhibit 70:  Magic Leap Inc. - Product and service

                                Exhibit 71:  Magic Leap Inc. - Key news

                                Exhibit 72:  Magic Leap Inc. - Key offerings

                10.8  Microsoft Corp.

                                Exhibit 73:  Microsoft Corp. - Overview

                                Exhibit 74:  Microsoft Corp. - Business segments

                                Exhibit 75:  Microsoft Corp. - Key news

                                Exhibit 76:  Microsoft Corp. - Key offerings

                                Exhibit 77:  Microsoft Corp. - Segment focus

                10.9  Samsung Electronics Co. Ltd.      

                                Exhibit 78:  Samsung Electronics Co. Ltd. - Overview

                                Exhibit 79:  Samsung Electronics Co. Ltd. - Business segments

                                Exhibit 80:  Samsung Electronics Co. Ltd. - Key news

                                Exhibit 81:  Samsung Electronics Co. Ltd. - Key offerings

                                Exhibit 82:  Samsung Electronics Co. Ltd. - Segment focus

                10.10 Snap Inc.

                                Exhibit 83:  Snap Inc. - Overview

                                Exhibit 84:  Snap Inc. - Business segments

                                Exhibit 85: Snap Inc. - Key news

                                Exhibit 86:  Snap Inc. - Key offerings

                10.11 Sony Corp.        

                                Exhibit 87:  Sony Corp. - Overview

                                Exhibit 88:  Sony Corp. - Business segments

                                Exhibit 89:  Sony Corp. - Key news         

                                Exhibit 90:  Sony Corp. - Key offerings

                                Exhibit 91:  Sony Corp. - Segment focus

                10.12 Toshiba Corp.  

                                Exhibit 92:  Toshiba Corp. - Overview

                                Exhibit 93:  Toshiba Corp. - Business segments

                                Exhibit 94:  Toshiba Corp. - Key news

                                Exhibit 95:  Toshiba Corp. - Key offerings

                                Exhibit 96:  Toshiba Corp. - Segment focus

11. Appendix 

                11.1 Scope of the report         

                                11.1.1 Market definition

                                11.1.2 Objectives

                                11.1.3 Notes and caveats

                11.2 Currency conversion rates for US$            

                                Exhibit 97:  Currency conversion rates for US$

                11.3 Research Methodology 

                                Exhibit 98:  Research Methodology

                                Exhibit 99: Validation techniques employed for market sizing

                                Exhibit 100: Information sources

                11.4 List of abbreviations        

                                Exhibit 101: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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