Augmented & Virtual Reality Content & Application Market is forecast to reach $864.2 million by 2025, growing at a CAGR 17.4% from 2020 to 2025. Augmented Reality is an enhanced version of reality that has been created using technology to add images, information, or both. Virtual Reality is a form of computer engineered simulated environment. Although conceptually similar, Augmented Reality has been in use for some time, particularly in the sports industry. Augmented & Virtual Reality Applications are used in many different applications. If we look at mobile apps alone, the majority would be for gaming, navigation, learning and information about nearby locations. If we were to consider AR / VR for more powerful devices that require more energy to handle tasks like computers and laptops.
- For several different uses, Augmented & Virtual Reality technologies are used. If we look at mobile devices alone, gaming, navigation, learning languages and knowledge about nearby locations will be the majority.
- One of the key factors driving this demand is the rising interest of major technology companies in augmented reality technology.
- North America is a rapidly growing area for the Augmented & Virtual Reality Content & Application Market due to technical advancements and rising consumer lifestyle.
- Digital images project HMDs, allowing for a 3D view that improves user experience. Rise in gaming industry will drive market growth for HMDs and, in effect, the content & application market for augmented & virtual reality will increase.
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By Geography – Segment Analysis
North America is expected to dominate the global Augmented & Virtual Reality Content & Application Market with a share of more than 35.8%. Due to technological advancements and increasing customer lifestyle, the North America region is rapidly growing region. Head-mounted displays (HMD), in North America, are experiencing a high growth. In the defense sector, the increasing demand for this technology encourages manufacturers in the region to provide HMDs which will serve the purpose of simulation-based training.
Drivers – Augmented & Virtual Reality Content & Application Market
- Increasing demand for AR devices in patient-care management, and medical training and education
- Penetration of HMDs in the gaming sector
Augmented & Virtual Reality Content & Application Market is expected to be dominated by major companies such as Alphabet, Samsung, Microsoft, Apple, BMW, Worldviz LLC, Qualcomm, Atheer, Daqri, Echopixel.
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