The AR and VR market is driven by the factors such as increasing responsiveness about this technology, rapid acceptance of AR and VR technology among various industry domains and the amalgamation of AR and VR to develop the mixed reality that can be implemented for prospective applications.

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The market for AR and VR market is primarily driven by technological development, rapid growth in the adoption of tablet computers and smartphones, excessive concentration of major tech players in the AR and VR system worldwide. The increasing penetration of smartphones and tablet computers is extensively contributing towards the growth of AR and VR market across the globe.

On the basis of device type, the AR and VR market is segmented into AR devices and VR devices. Among these two segments, AR devices are expected to witness faster growth during the forecast period owing to extensive demand for AR and VR technology from healthcare and retail domain in a developed economy that enables doctors and nurses to identify vein locations in patients.

The existence of a large number of display board industrialists along with technological enhancements are the key factors bolstering the growth of AR and VR market.

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The market structure for global AR and VR market is fragmented and some of the key players operating in the AR and VR market across the globe include Alphabet Inc., Oculus VR, LLC, Microsoft Corporation, Qualcomm Technologies Inc., Intel Corporation, Himax Technologies Inc., Samsung Electronics Co. Ltd., PTC Inc., and Sony Corporation.

Source: VynZ Research