Massachusetts, USA, April 07, 2022 (GLOBE NEWSWIRE) — Consumer app dominates the AR & VR industry. The most prominent industry in which mobile AR has been used is gaming. Pokémon Go dominated the market and contributed greatly to the growth of the market. Due to their use in games, sports, and entertainment, VR headsets are in high demand in consumer applications. The use of head-mounted displays (HMDs) as smart glasses in sports (such as skiing and fighting games) is growing.
Smartphone AR compatibility is critical to the widespread adoption of mobile AR. Only about 10% of smartphones are now compatible with AR technology, but with the increasing compatibility features provided by mobile developers, the use of AR in smartphones is likely to grow.
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The COVID-19 pandemic is expected to have a favorable influence on the growth of the AR and VR for healthcare applications market, as AR VR HMDs are expected to be widely used as protective equipment by medical personnel in the near future. COVID-19 has had an adverse influence on the market supply chain due to lockdowns and limited cross-border trade. Due to the COVID-19 outbreak, the global consumer market for augmented reality and virtual reality is expected to grow slowly in the coming years. The widespread shutdown of consumer markets has impacted the sale of devices such as HMDs and projectors. However, the VR market is expected to regain full speed by 2023.
Read Market Research Report, “Global AR/VR/MR Market Segmented by Offering (Software, Hardware) by Verticals (Gaming, Entertainment & Media, Aerospace & Defense, Healthcare, Education, Manufacturing, Retail and Others) and by Region – Forecast and Analysis 2020-2027 » by SkyQuest
Increasing app store revenue through in-app and premium app sales will be a crucial aspect of AR & VR market growth. AR-as-a-Feature could be the next big moneymaker. The production of content necessary for gaming and entertainment is said to be the main driver for the growth of the consumer VR market.
APAC is likely to be the fastest to adopt augmented reality and virtual reality technologies. China, Japan and India have strong potential for market expansion in the future.
The report published by SkyQuest Technology Consulting provides in-depth qualitative information, historical data and verifiable projections on the size of the market. The projections presented in the report have been derived using proven research methodologies and assumptions.
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SkyQuest has segmented the global AR/VR/MR market on the basis of frequency type, node type, deployment, vertical outlook, and region:
AR/VR/MR Market by offer
AR/VR/MR Market by vertical sector
- Entertainment and media
- Aeronautics & Defense
- Health care
AR/VR/MR Market by Region
- North America
- The rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central and South America
- Middle East and Africa
- GCC countries
- South Africa
- Rest of MEA
List of Major AR/VR/MR Market Players
- Google Inc. (USA)
- Microsoft Corp. (United States)
- Sony Corp. (Japan)
- Oculus VR (US)
- Samsung Electronics Co.Ltd. (South Korea)
- Seiko Epson
- Lenovo (US)
- Magic Leap Inc. (USA)
- Vuzix (USA)
- Apple Inc. (USA)
- HTC (US)
- PTC Inc. (USA)
- Leap Motion (USA)
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