Virtual Reality Market to Grow at 57.84% CAGR and Reach $33.90B by 2022

Press Release   •   May 26, 2016 09:23 EDT

Augmented reality and virtual reality market to grow at a CAGR of 75.72% and 57.84% respectively between 2016 and 2022. Companies such as Oculus VR, Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), and Microsoft Corporation (U.S.) are developing HMD devices that are technologically advanced and cost effective. Apart from HMDs, gesture tracking devices, projectors, and display walls are also used in various VR applications for simulation and training purposes. Complete report on augmented reality and virtual reality market spread across 256 pages, profiling 15 companies and supported with 156 tables and 74 figures is now available at http://www.rnrmarketresearch.com/augmented-reality-and-virtual-reality-market-by-device-type-hmd-hud-handheld-device-gesture-tracking-projector-and-display-wall-component-sensor-display-camera-and-software-vertical-and-geography-glo-st-to-2022-market-report.html .

The global augmented reality market was valued at $2.35 billion in 2015 and the market for virtual reality technology was valued at $1.37 billion in 2015. Increased adoption of HMDs for gaming, entertainment, and medical among other applications would contribute to the growth of the AR and VR market. The increased use of HMDs in the AR and VR market is due to growing gaming and entertainment sectors. The market for HMDs is growing gradually with their increasing use in the gaming application.

Augmented reality-based HMDs are used for various purposes in automotive, tourism, military, gaming and education among others. The huge adoption of mobile augmented reality would help in the dynamic growth of this market. Also, the growing investments by the large tech companies would be a driving factor. Driven by huge adoption of mobile augmented reality, augmented reality and virtual reality market growth is supported by the growing investments by the large tech companies according to this new research report. The global augmented reality market will reach $117.40 billion by 2022, at a CAGR of 75.72% and the market for virtual reality technology will reach $33.90 billion by 2022, at a CAGR of 57.84% between 2016 and 2022. Request a Sample Report at http://www.rnrmarketresearch.com/contacts/request-sample?rname=582829 .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (45%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (35%), Directors (25%) and others (40%) from various key organizations operating in the global augmented reality and virtual reality market. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (30%), APAC (20%), and RoW (5%).

The major key players offering various products in the augmented reality and virtual reality market include Google, Inc. (U.S.), Oculus VR LLC (U.S.), Microsoft Corporation (U.S.), Samsung Electronics Co. Ltd. (South Korea), Qualcomm Inc. (U.S.), Infinity Augmented Reality Inc. (Israel), Blippar.Com Limited (U.K.), DAQRI LLC (U.K.), Osterhaut Design Group (U.S.), Magic Leap Inc. (U.S.), Metaio GmbH (U.S.), Meta Company (U.S.), Vuzix Corporation (U.S.), CyberGlove Systems Inc. (U.S.), and Eon Reality Inc. (U.S.). Order a copy of “Augmented Reality and Virtual Reality Market by Device Type (HMD, HUD, Handheld Device, Gesture Tracking, Projector and Display Wall), Component (Sensor, Display, Camera, and Software), Vertical, and Geography - Global Forecast to 2022” research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=582829 .

The virtual reality technology comprises 3D artificial environment, in which user can interact with the virtual world. This technology is used in various applications such as gaming, entertainment, and for simulation and training purposes in aerospace & defense, medical, industrial, commercial, and consumer verticals. The estimated growth rate of AR technology is higher than VR technology due to the interest shown by many established players.

On a related note, another research titled Mobile Augmented Reality Market Global Forecast to 2022 says, the mobile augmented reality market is expected to reach USD 79.77 billion by 2022, at a CAGR of 69.85% between 2016 and 2022. This report covers the said market in North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market in APAC is expected to grow at the highest CAGR between 2016 and 2022. Companies like Google Inc. (U.S.), Qualcomm Inc. (U.S.), Samsung Electronics Co. Ltd. (South Korea), Microsoft Corporation (U.S.), Infinity Augmented Reality Inc. (Israel), Blippar.com Limited (U.K.), DAQRI LLC (U.S.), Wikitude GmbH (Austria), Metaio GmbH (Germany), Catchoom Technologies (Spain), Aurasma (U.K.), and Atheer Inc. (U.S.) have been profiled in this 166 pages research report available at http://www.rnrmarketresearch.com/mobile-augmented-reality-market-by-component-3d-cameras-displays-sensors-and-software-application-smartphones-tablets-personal-digital-assistants-pda-game-consoles-smart-glasses-and-wearables-vertical-st-to-2022-market-report.html .

Explore more reports on Electronics market at http://www.rnrmarketresearch.com/reports/information-technology-telecommunication/electronics .

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