According to a new market report by Lucintel, the future of the augmented reality and virtual reality market looks promising with opportunities in the consumer electronics, commercial, enterprise, healthcare, aerospace & defense, and automotive industries. The augmented reality and virtual reality market is expected to grow with a CAGR of 33% from 2019 to 2024. The major drivers for this market are increasing demand for AR devices in patient care management and medical training and education, growth in retail and e-commerce, and increasing interest of tech giants in the AR market.
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In this market, marker-based and marker less technologies are used in the augmented reality market and non-immersive and semi and fully immersive technologies are used in the virtual reality market.
Within this market, consumer electronics will remain the largest end use industry due to the increasing demand for head mounted display in gaming and entertainment industry.
APAC will remain the largest region over the forecast period due to growing acceptance of newer technologies.
Google , Microsoft, Oculus VR (Facebook), Sony, Samsung Electronics, HTC, PTC, Wikitude GmbH, Magic Leap, Osterhout Design Group are among the major players in the augmented reality and virtual reality market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the augmented reality and virtual reality market by technology, device type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Augmented Reality and Virtual Reality Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the augmented reality and virtual reality market by technology, device type, end use industry, and region as follows:
Augmented Reality by Technology [$M shipment analysis for 2013 - 2024]:
·Marker-Based Augmented Reality
o Passive Marker
o Active Marker
· Markerless Augmented Reality
o Model-Based Tracking
o Image-Based Processing
Virtual Reality by Technology [$M shipment analysis for 2013 - 2024]:
· Non-immersive
· Semi- and Fully Immersive
By Device Type [$M shipment analysis for 2013 - 2024]:
· Head-Mounted Display (HMD)
· Head-Up Display (HUD)
· Handheld Device
· Others
By End Use Industry [$M shipment analysis for 2013 - 2024]:
· Consumer Electronics
oGaming
oSports and Entertainment
· Commercial
· Enterprise
· Healthcare
· Aerospace and Defense
· Energy
· Automotive
· Others
By Region [$M shipment analysis for 2013 – 2024]:
·North America
– United States
– Canada
– Mexico
·Europe
– Germany
– UK
– Italy
·Asia Pacific
– China
– Japan
– India
– Rest of the World
A more than 150 pages and in-depth TOC on “Augmented Reality and Virtual Reality in Education Market"
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global augmented reality and virtual reality market by augmented reality technology (marker-based augmented reality and marker less augmented reality, virtual reality technology (non immersive and semi- and fully immersive), device type (head-mounted display (HMD), head-up display (HUD), handheld device), end use industry (consumer, commercial, enterprise, healthcare, aerospace and defense, and automotive), region (North America, Europe, Asia Pacific (APAC), and Rest of the World )?
Q.2 which segments will grow at a faster pace and why?
Q.3 which regions will grow at a faster pace and why?
Q.4 what are the key factors affecting market dynamics? What are the drivers and challenges of the augmented reality and virtual reality market?
Q.5 What are the business risks and threats to the augmented reality and virtual reality market?
Q.6 what are emerging trends in this augmented reality and virtual reality market and the reasons behind them?
Q.7 what are some changing demands of customers in the augmented reality and virtual reality market?
Q.8 what are the new developments in the augmented reality and virtual reality market? Which companies are leading these developments?
Q.9 who are the major players in this augmented reality and virtual reality market? What strategic initiatives are being implemented by key players for business growth?
Q.10 what are some of the competitive products and processes in this augmented reality and virtual reality area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this augmented reality and virtual reality market?