Augmented Reality (AR) is the augmentation of a real or physical world environment in a direct or indirect way using computer generated sensory input. Virtual Reality (VR) is the complete simulation of the physical environment virtually with immersion of the individual in a scenario varying – non, semi and fully immersive. While high costs of components, size of products limited the scope of the VR and AR devices a few years back, both the markets are seeing resurgence due to two primary reasons – Reduction of component costs and improvement of gesture recognition systems. This has led to a wave of consumer and industrial applications with many start-ups and traditional companies trying to combine VR-AR into their product portfolios.
Augmented reality apps are being used in the healthcare industry:
These applications and use cases are well documented and commercialized. Similarly virtual reality is also being used in the healthcare industry for applications like fully immersive 3D simulation experience for doctors, nurses, as a diagnostics tool, in surgery, phobia treatments, PTSD, autism treatments and dentistry etc. The global market for augmented reality and virtual reality in the healthcare market is expected to grow from $1.2 bn in 2014 to around $2.54 bn in 2020 according to IndustryARC.
This report gives an in-depth segmentation of the market by product types like spatial AR, Vision AR, semi-immersive VR, and fully-immersive VR. It is also segmented by end use verticals and key geographic regions like Americas, Europe and Asia-pacific. Cost analysis, pricing analysis and the overall competitive landscape of key players are also analyzed in great detail in the report.
The report contains the most detailed and in-depth segmentation of the virtual and augmented reality market specifically in the healthcare industry.
North America is the largest market for Augmented Reality and Virtual Reality followed by Europe. Major factors influencing the growth of this market in America are the accessibility to technologies and well-established distribution channels. Technological advancements further drive the market for simulation in the U.S. Asian countries are slated to register the highest growth during the forecast period, primarily due to increasing investments by major players in the region.
Competitive landscape for each of the product types is highlighted and market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. Market shares of the key players for 2014 are provided.
The prominent players profiled in this report are:
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