According to the report published by IndustryARC titled “Augmented Reality & Virtual Reality Market For Gaming Industry: By Type (AR, VR, Hybrid), By Technology (Motion Tracking, Camera Tracking, RFID, GPS, Others), By Platform (Portable/Handheld Gaming System, Tablets, Mobile Phones, Head Mounted Displays), By Payment ( Freeware, Freemium, One-time license, Subscription, Downloadable Content), Geographic Analysis -Forecast (2018-2023),” the market to reach $73.42m by 2025.
Browse 87 Market Tables, and 35 Figures spread through 188 Pages and go through an in-depth TOC on “Augmented Reality & Virtual Reality Market For Gaming Industry"
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According to a recent study from IndustryARC, the Augmented Reality and Virtual Reality Market is forecast to reach $73.42 billion by 2025 and is estimated to grow at a CAGR of 37%. Augmented reality is an enhanced version of reality created using various technology, and virtual reality is a form of simulated environment created with computer technology.
Augmented reality holds importance in the entertainment industry and can be used in numerous applications such as smartphones and gaming consoles. Many players operating in the software industry are adopting augmented reality to be used in different app especially in the gaming apps. The growing demand for augmented devices that can be used in laptops and smart phones is anticipated to fuel the market growth in the near future. Augmented reality Head-up displays are used for the augmentation of images in aerospace and defense. Apart from that AR is also used for navigation. Augmented and virtual reality gives shoppers an ease to try the products at home in real size which can be purchased later through the ecommerce apps. Moreover the growing demand for advance technologies across the manufacturing sectors such as smartphones, and automotive could provide new growth opportunities for the market.
North America held a major share of the augmented and virtual reality market closely followed by APAC region in 2018. Many open source developers are incorporating augmented reality into their respective software and this phenomenon has increased the adoption of augmented reality in smartphones. 3D interface design required for augmented & virtual reality is a complex and expensive procedure which is a challenge for the growth of this market.
The Major Players in this market include
- CAE Health care
- Intuitive Surgical
- Hologic inc.
- Philips Health Care
- Siemens Health Care
AR & VR manufacturers are utilizing mergers and acquisitions as well as product launches as a strategy and enhanced core competencies through additions to product portfolio to gain a foothold in the emerging markets.
The Augmented and Virtual Reality Market study across various industries platform is incorporated in the report
The overall market is also presented from the perspective of different geographic regions and key countries. The competitive landscape for each of the application types is highlighted and market players are profiled.
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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.