Augmented and Virtual Reality Market

BANGALORE, India - July 15, 2022 - PRLog -- The augmented and virtual reality market size was valued at $14.84 billion in 2020 and is projected to reach $454.73 billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 40.7%.

Augmented and Virtual Reality Market Segment Review

The global augmented and virtual reality market is segmented on the basis of organization size, application, industry vertical, and region. On the basis of organization size, the market is fragmented into large enterprises and small & medium sized enterprises. In terms of application, the market is bifurcated into consumer and enterprise. Depending on industry vertical, it is segregated into gaming, entertainment & media, aerospace & defense, healthcare, education, manufacturing, retail, and others. Region wise, augmented and virtual reality industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

COVID-19 Impact Analysis

The augmented and virtual reality market was valued at $14.84 billion in 2020, and is projected to reach $454.73 billion by 2030, registering a CAGR of 40.7%. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. The COVID-19 pandemic has significantly fostered the augmented and virtual reality market growth rate owing to the increased shift toward the adoption of virtual and augmented reality technologies as more number of businesses have turned to remote work. For instance, HTC announced to hold 2021 developer conference online, and it is projected to still be conducted through VR. On the other hand, The 2020 China Spring Cloud Auto Show combined AR technology, big data, Web 3D, panoramic content, and other technologies to present cutting-edge technologies and products from multiple perspectives.

Moreover, augmented and virtual reality is finding emerging healthcare applications such as the patient management, tele-health, point of care, and home-based care. This is opportunistic for the growth of the market during the post pandemic period.

Key Benefits For Stakeholders

• This study includes the Global Augmented and Virtual Reality market analysis, trends, and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and Global Augmented and Virtual Reality market opportunity.
• The Global Augmented and Virtual Reality market size is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the industry.
• Porter's five forces analysis illustrates the potency of buyers & suppliers in Global Augmented and Virtual Reality industry.

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