Allied Market Research adds “Augmented and Virtual Reality Market” new report to its research database. The report provides a comprehensive analysis of current & future trends and emerging avenues for the growth of this market globally.
The report features a competitive scenario of the augmented and virtual reality industry and provides the comprehensive analysis of key growth strategies adopted by major players. Some of the key players operating in the augmented and virtual reality industry include Google Inc., Intel Corporation, Magic Leap, Inc., Marxent Labs LLC, Microsoft Corporation, NVIDIA Corporation, Oculus VR, LLC, Qualcomm Inc., Samsung Electronics Co., Ltd., and Vuzix Corporation
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Augmented reality is a technology that uses the existing users environment and overlays the digital or virtual content or information over it. Augmented reality applications are developed on special 3D programs that enable developers to integrate contextual or digital content with the real world. While virtual reality is a computer-generated 3D environment which completely immerses end users in an artificial world without seeing the real world.
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Expansion in gamer community; rise in popularity of augmented and virtual reality solutions and services; increased awareness among end users about benefits of augmented and virtual reality solutions are projected to drive the augmented and virtual reality market growth during the forecast period. However, lack of infrastructural development and high prices are projected to limit the market growth to some extent during the forecast period.
By platform, the console segment dominated the market in 2015 with around 41% market revenue share and is projected to expand at the highest CAGR of around 69% during the forecast period. This is primarily attributed to the availability of advanced gaming consoles at an affordable price and rise in demand for enhanced customer experience.
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