(PRWEB) January 23, 2014
According to a new market research report titled "Augmented Reality & Virtual Reality Market", the market is expected to grow at a CAGR of 15.18% from 2013 to 2018 and reach 1.06 billion in 2018.
Browse 86 market data tables and 39 figures spread through 254 pages and in-depth TOC on the “Virtual Reality & Augmented Reality Market"
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Augmented reality is a thriving technology where digital data merge with real world. This technology superimposes the real world with computer generated data which completely changes the user experience. It changes what we hear, feel and see. The augmented reality technology uses virtual reality to amend with the real world. Augmented reality and virtual reality can offer a wide range of emerging applications.
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.
The 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 in computer technology and internet connectivity. The increased demand in virtual reality and augmented reality application in healthcare industry is a direct cause for a tremendous growth in AR & VR market. The other driving force for virtual reality and augmented reality 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. The major driving factors in this marker-less include the use of GPS and compasses, which are used commonly in smartphones. The technology used in virtual reality application, sensors used, the emerging trends like goggles, contact lens, and further opportunities are described in detail in the report.
A geographical split for every application is included in the report as the market share of different applications of augmented reality 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 are the market leaders in the overall augmented and virtual reality market, followed by APAC. In the ROW, the Middle East, and Africa are coming up with this technology because of its benefits in wide range of applications.
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