According to a new market research report of “Augmented Reality & Virtual Reality Market by Sensors (Accelerometer, Gyroscope, Haptics), Components (Camera, Controller, Gloves, HMD), Applications (Automotive, Education, Medical, Gaming, Military), Technology Types & by Geography - Global Forecast and Analysis to 2013 - 2018”, published by MarketsandMarkets, is expected to grow at a CAGR of 15.18% from 2013 to 2018 and reach 1.06 Billion in 2018. The data mentioned is for dedicated augmented reality and immersive virtual reality systems only. Separate analysis for mobile based AR and non immersive VR is done.
Browse 86 market data tables and 39 figures spread through 254 pages and in-depth TOC on “Augmented Reality & Virtual Reality Market - Global Forecast and Analysis to 2013 - 2018”
Augmented reality is still under progressive stage and focuses on wearable technology like goggles, contact lens, and so on which will be commonly used in future. Many research and developments are taking place in application areas such as healthcare, education, military, enterprise, and so on. The increase of demand in the virtual reality application in the healthcare industry shows a tremendous growth and it acts as a major driver for the market. The market growth has resulted in an exponential increase in the number of companies operating in the AR/VR domain. The companies which provide virtual reality and augmented reality tools to the developers are reinforcing their position due to the increase in the competition.
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New technologies are evolving to make an effectual contribution to thriving segments like mobile computing, gaming, military, healthcare, and so on. Virtual reality technology was already in existence since decades and AR technology emerged as a variant of VR. AR technology overlaps the computed generated data and images on to the real world view and it offers a new experience to users. The use of AR technology completely changes the concept and drives AR technology far beyond the abilities and opportunities of different applications.
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The AR technology has shown ubiquitous growth in mobile phone technology featured with a camera and a GPS (Global Positioning System) which allow the users to experience the technology beyond their anticipation. By 2015, the AR technology will be widely used in the education field for advanced learning and for teaching technologies. The augmented reality and virtual reality technology will be used to contribute to the projects with smart innovations in future due to its great fascination and potential.
The overall augmented reality and virtual reality market is segmented into four major segments namely: AR & VR components and sensors, AR & VR technology, AR & VR application, and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately described in the report.
Global dedicated devices augmented reality market is expected to reach $659.98 million by 2018, whereas the immersive virtual reality market is expected to reach $407.51 million by 2018. The mobile based augmented reality and non-immersive virtual reality market analysis is done separately to maintain the mutual exclusiveness of data sets.
The major driving forces of augmented reality technology and virtual reality are the advancement and in computer technology and internet connectivity. The increased demand in virtual reality and AR application in healthcare industry is a direct cause for a tremendous growth in AR & VR market. The other driving force for virtual reality and AR technology is the consumer demand in m-commerce industry. The technology used in augmented reality applications, i.e. marker-less is at the apex and is expected to grow rapidly. Major driving factor in this marker-less is use of GPS and compass which are used commonly in smartphones. The technology used in virtual reality application, are in the emerging trends like goggles, contact lens, and further opportunities are described in detail in the report.
Geographical split for every application is included in the report as the market share of different applications of AR and virtual reality market varies from one region to another. This report describes the overall market into four major geographical segments, namely, North America, Europe, APAC, and ROW. North America and Europe is the market leader in the overall augmented and virtual reality market, followed by APAC. In ROW, the Middle East, and Africa are coming up with this technology because of its benefits in wide range of applications.
The major companies included which offer AR & VR technology in various applications are Total immersion (France), Qualcomm Inc (U.S.), Metaio GmBH (Germany), Vuzix Corporation (U.S.), Layar B.V (The Netherlands), Wikitude GmBH (Austria) and so on.
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