Augmented Reality and Virtual Reality Market by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography – Global Forecast to 2027

Price :
Published : Jun-2022
No. of Pages : 376

AR dynamics

“Increasing demand for AR devices and applications in healthcare”

Augmented reality’s widening demands in healthcare sector is paving a way for its growth in the market. The augmented reality can be put to use for surgeries, patient care, fitness and pharmacy management. Alog with its use in all of these aspects, augmented reality can also be used for medical training for students/budding surgeons.  The augmented reality provides  an immersive, 3D AR modelled visualization of the patient’s internal organs to the surgeon so that the surgery can be performed with minimalistic invasion and with precsision. The AR modelled 3D visualization also helps medical teaching staff to provide an immersive learning experience to the students/budding surgeons.

Augmented reality facilitates  surgeons to visualize joints, muscles, and internal organs without making incisions into the pateint’s body and make further decision about incsisions post diagnosing the body through  augmented reality technologies. This leads to increase in the accuracy of diagnosis as well as surgeries. The real-time data availability of  patients facilitate the growth and use of augmented reality technology even more, creating its remarkable importance in the healthcare sector. AR, due to its accuracy, precision and convenience to the surgeons, also proves to be a  time saving technology.

AR could be used to enhance the workflow of the surgeons in the operating room. Also, the doctors can dial in an expert for telephonic support. For example, in 2016, David Nott, a British doctor, remotely directed life-saving operations in Aleppo (Syria) using Skype. Case Western Reserve University (US) and Cleveland Clinic (US) have entered a joint venture to bring 3D content into the real world for medical education via AR using Microsoft HoloLens. Touch Surgery (UK) has created more than 200 training programs for surgical procedures to be completed on a mobile phone or tablet. This will help the surgeons plan the patient’s virtual surgery and cure patients in a better way.

“Rising investments in AR market”

Investments in the AR market have witnessed huge growth over the past few years. Companies such as Facebook Corporation, Intel Corporation, Qualcomm, Inc., Alphabet, Inc., Comcast Ventures, and Samsung Group are investing heavily in the AR market. Also, several research institutes are carrying out research in the AR application market for various products and applications. Some research institutes are being funded by private firms and venture capitalists, while governments are funding some. Industries such as consumer, aerospace & defense, healthcare, enterprise, retail, and marketing embrace the benefits of AR.

For instance, Boeing Company has announced a new setup named HorizonX. The company would be investing in some companies to start with, including Upskill, a major company in enterprise software for industrial AR devices, and Zunum Aero.


“Penetration of Virtual reality techno login architecture and construction”

Virtual reality has come into picture for architecture and construction field. . The architecture and construction field has had a technological evolution with the emergence of Virtula Reality and 3D technologies. The use of VRhas helps to analyse and study the alternatives of the designs more conveniently by achieving a fully immersive experience for users and has taken the workexperience for the architects as well as for the clients to the next level. This smooth transition of  conventional design approovals by the clients to a complete immersive virtual 3D experience by a walk in experience into the design helps the client to make changes and approve the designs only after a complete satisfaction regarding the design. VR can also be used in order to identify the location of raw materials and equipments during the construction stage. VR can also be used for supervision of work from far away places. So, with the growing demand for infrastructure, the increasing use f VR in it will lead to the growth in the virtual reality market.

“High investments in VR market”

VR technology has been fetching huge investments from investors and tech giants. The VR game start-up Decentral and raised funding to create a virtual world using blockchain technology. The sum was raised through initial coin offerings (ICO). Similarly, Varjo, a Finnish company, raised funding in A round.

In July 2017, Leap Motion received a funding as Series C funding led by clients advised by J.P. Morgan Asset Management. This will help the company to expand its presence, especially in Asia.

In December 2016, High Fidelity raised funding, led by IDG Capital and Brayer Capital. High Fidelity allows users to host, build, and join interconnected virtual worlds for a persistent Metaverse.

In October 2016, Baobab Studios raised B funding led by Horizons Ventures and Evolution Media Partners, Twentieth Century Fox, Youku Global Media Fund, China’s Shanghai Media Group, and LDV Partners. The company looks forward to adding richer content in storytelling using VR. The increased investments in the VR market will drive the market.

“Asia Pacific region to grow at a fastest rate in the forecast period”

With the increasing number of start-ups and the boom for technological advancements in Asia Pacific region, the growth rate will be fastest in this region. The increasing population as well as the maximum population contribution of the world population in this region makes it possible and viable to reach out these AR technologies for a wider range of people. The increasing technology companies in the region, focusing on training, virtual trials of apparels, jewellery, make-up, virtual furniture shopping, HUDs in low end vehicles, virtual map assistance, gesture tracking devices and smart glasses will lead to the growth of this market in the given forecast period of 2022 to 2027.

Breakdown of profiles of primary participants:

  • By Company: Tier 1 =15%, Tier 2 =50%, and Tier 3 =35%
  • By Designation: C-level Executives = 45%, Directors= 25%, and Others (sales, marketing, and product managers, as well as members of various organizations) =30%
  • By Region: North America = 45%, Asia Pacific=12%, Europe=35%, and South America=3% and Middle East and Africe = 5%.

Major players profiled in this report:

The AR and VR market is dominated by a few established players such as Google (US), Microsoft (US), Sony Corporation (Japan), Samsung Electronics (South Korea), HTC (Taiwan), Apple Inc., (US), PTC Inc., (US), Seiko Epson (Japan), Oculus VR (by Facebook (US)), Lenovo (China).

Research coverage

This report offers detailed insights into the AR and VR market based on offering (hardware and software),technology (markerless and marker-based for AR technologies and non-immersive, semi- immersive ndfully immersive technologies for VR), device type (head-mounted displays (smart glasses, smart helmets), head-up display, projectors and displays, gesture tracking devices), enterprise (small enterprise, medium enterprise, large enterprise), application (consumer, commercial, enterprise, aerospace and defence, healthcare, automotive, others)and region (North America, Europe, Asia Pacific), and Rest of the World (RoW) which includes the Middle East, Africa, and South America.

The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the AR and VR market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Key Benefits of Buying the Report

The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the AR and VR market and provides them information on key market drivers, restraints, challenges, and opportunities.

Filed in: Semiconductor & Electronics
Publisher : marketsandmarkets
More Reports
Title Price Buy Now

Thermoelectric Modules Market by Model (Single Stage, Multi Stage), Type (Bulk, Micro, Thin Film), Functionality (General Purpose, Deep Cooling), End-Use Application (Consumer Electronics, Automotive), Offering and Region – Global Forecast to 2027

“The thermoelectric modules market is projected to grow at a CAGR of 8.8% during 2022–2027” The thermoelectric modules market is expected to grow from USD 693 million in 2022 and is projected to reach USD 1,054 million by 2027; it is expected to grow at a CAGR of 8.8% during the forecast period. Advantages such as compact design of TEMs compared to vapor-compression cooling systems, drives the adoption of TEMs across several end-use application. Additionally, ability of TEMs to produce hot and cold water for different functions adds to its rising adoption in different applications. Furthermore, the rapidly growing market for electric and luxury vehicles is also expected to drive thermoelectric modules market. TEMs are used in electric vehicles to stabilize the temperature of a car......

European Smart Home Market by Product (Lighting Controls, Security & Access Controls, HVAC Controls, Smart Speakers, Smart Kitchens, Home Appliances, Home Healthcare), Software & Service (Proactive, Behavioral) and Geography – Global Forecast to 2027

European smart home market dynamics The European smart home market is projected to grow from USD 26.7 billion in 2022 to USD 41.2 billion by 2027; it is expected to grow at a CAGR of 9.0% from 2022 to 2027. “Surging importance of home monitoring” Smart homes can perform intricate tasks such as automatically lighting up evacuation routes in the case of a fire alarm in addition to basic operations such as turning off lights, dimming lights, and shutting curtains. Connectivity has become a high-end novelty in a variety of household equipment, including security cameras and utility or smart meters, which record the consumption of electric energy and communicate information to the user and thermostats. In the coming years, connectivity is anticipated to become a more prevalent tren......

Network Monitoring Market by Offering (Equipment, Software & Services), Bandwidth (1&10 Gbps, 40 Gbps, 100 Gbps), Technology (Ethernet, Fiber Optic, InfiniBand), End User and Geography – Global Forecast to 2027

“The network monitoring market is projected to grow at a CAGR of 6.9% during 2022–2027” The network monitoring market is projected to grow from  USD 2.2 billion in 2022 and is projected to reach USD 3.0 billion by 2027; it is expected to grow at a CAGR of 6.9 % from 2022 to 2027. The rise in demand for cloud services, surging demand for resilient network monitoring systems to quickly resolve downtime issues along with need for continuous monitoring due to rise in network complexities and security concerns is expected to fuel the growth of the network monitoring market. However, availability of free network monitoring tools is a prominent factor limiting the growth of the network monitoring market. “Network monitoring equipment with 1 & 10 Gbps bandwidth to hold large......

Network Devices Market by Connectivity (WiFi, Cellular, LoRa, ZigBee, Bluetooth), Device Type (Router, Gateway, Access Point), Application (Residential, Commercial, Enterprise, Industrial, Transportation) and Geography – Global Forecast to 2027

“The network devices market is projected to grow at a CAGR of 6.6% during 2022–2027” The network devices market is expected to grow from USD 26.4 billion in 2022 and is projected to reach USD 36.4 billion by 2027; it is expected to grow at a CAGR of 6.6% during the forecast period. WiFi network deployment helps enterprises rapidly build and connect business applications. The WiFi network also provides greater flexibility, scalability, reliability, and cost-effective benefits in connecting mission-critical business applications. Core industry sectors are keen on automating and digitalizing their business processes to streamline business operations and drive new business revenue opportunities. As the number of Internet users is expected to continue to grow significantly in coming ye......

RF Tunable Filter Market by Type (Bandpass, Band Reject), Tuning Mechanism, Tuning Component, System (Handheld and Pocket Radio, Radar System), Application (Aerospace and Defense, Transportation, Smart Cities) and Geography – Global Forecast to 2027

“RF tunable filter market is expected to grow at CAGR of 10.8% from 2022 to 2027.” The global RF tunable filter market is projected to reach USD 168 million by 2027 from an estimated USD 100 million in 2022, at a CAGR of 10.8% from 2022 to 2027. The growth of the market can be attributed to the rising demand for RF tunable filters in aerospace & defense industry and the increasing demand for 5G smartphones, smartphones, and mobile phones. “Bandpass filter segment is projected to capture a larger share of the overall market during the forecast period” The RF tunable filter market for the band pass filter segment is projected to capture a larger share of the overall market during the forecast period attributed to the increased use of bandpass filters in the aerospace &am......

Security Robots Market by Type (UAV (Fixed Wing, Rotary Wing), UGV (Wheeled, Tracked, Legged, Hybrid), UUV (Autonomous Underwater Vehicles, Remotely Operated Underwater Vehicles)), Application, Component, End User and Geography – Global Forecast to 2027

“Security robots market to grow at a CAGR of 17.7% from 2022 to 2027 to reach USD 89.6 billion by 2027” The security robots market was valued at USD 33.7 billion in 2021 and is projected to reach USD 89.6 billion by 2027; it is expected to grow at a CAGR of 17.7% from 2022 to 2027. The major drivers of the market include the growing adoption of security robots for commercial and residential applications, rising emphasis on security at national or regional levels, increasing investments and spending on defense by countries globally, and surging demand for autonomous systems that make real-time monitoring smarter. “UAV held the largest share of the security robots market in 2021” UAVs are either remotely controlled, semi-autonomous, or autonomous unmanned aircraft that can b......

LED Lighting Market by Installation (New, Retrofit), Product Type (A-type, T-type, Decorative, Directional), Sales Channel (Retail, Direct, E-commerce), Application (Residential, Commercial, Industrial) and Geography – Global Forecast to 2027

The LED lighting market size is estimated to be USD 75.3 billion in 2022 and is projected to reach USD 124.7 billion by 2027, at a CAGR of 10.6% during the forecast period. The booming lighting industry contributes most to the rising demand for energy-efficient products and modifications in the existing lighting products using LED technology. Moreover, technological innovations and rising environmental concerns have further accelerated the market growth in the region. Competitive manufacturing costs, high economic growth rate, and large-scale industrial constructions in residential and commercial segments are some of the other major factors driving the growth of the LED lighting market “Decorative luminaire to register highest growth between 2022 to 2027.” Decorative luminaires a......

Inverter Market by Type (Solar Inverters, Vehicle Inverter, others), Output Power Rating (Upto 10 kW, 10-50 kW, 51-100 kW, above 100 kW), End User (PV Plants, Residential, Automotive), Connection, Voltage, Sales Channel & Region – Global Forecast to 2027

“The inverter market is projected to grow at a CAGR of 15.7% from 2022 to 2027” The inverter market is anticipated to grow from an estimated USD 16.3 billion in 2022 to USD 33.8 billion in 2027, at a CAGR of 15.7% during the forecast period. The market has a promising growth potential due to increased deployment of solar inverters, especially in Asia Pacific. The increasing investments in the renewable energy sector and supportive government initiatives and schemes is propelling demand for inverters. Countries targets on climate change to achieve net-zero goals are shifting them towards sustainability development which increased the demand for electric vehicles and also technological advancements in developing high-power density inverters for various end user applications are expect......

Smoke Detectors Market by Power Source (Battery-Powered, Hardwired with battery backup, Hardwired without battery backup), Type (Photoelectric Smoke Detectors, Ionization Smoke Detectors), Service, Distribution Channel – Global Forecast to 2027

“Smoke Detectors market to grow at a CAGR of 9.6% from 2022 to 2027” The smoke detectors market size is expected to grow from USD 2.3 billion in 2022 to USD 3.4 billion by 2027; it is expected to grow at a CAGR of 8.2% from 2022 to 2027. The key factors driving the growth of the smoke detectors market are rising initiatives and support for smoke detectors from government bodies and rising technological innovations in smoke detectors which provides various advantages to the end-use industries. “Hardwired with battery backup is expected to grow at higher rate from 2022 to 2027” Hardwired with battery backup smoke detectors operate as a substitute for battery-powered smoke detectors. They are efficient and have battery backups for continuous operation. Hardwired photoelectric......

Monolithic Microwave IC Market by Component (Power Amplifiers, LNA, Switches), Material Type (GaAs, InP, GaN), Frequency Band (Ka, S, X), Technology (MESFET, HEMT), Application (Automotive, A&D) and Geography – Global Forecast to 2027

“Increasing demand for MMICs in smartphones to drive market for monolithic microwave ICs” The global MMIC market was valued at USD 9.7 billion in 2022 and is projected to reach USD 17.0 billion by 2027, growing at a CAGR of 11.9% during the forecast period from 2022 to 2027. The key factors driving the growth of the MMIC market include increased demand for MMICs from the smartphone industry, the adoption of E band to meet the growing bandwidth requirements of cellular and wireless networks, increased defense spending of countries for the upgrade of their defense inventories, and the growing adoption of next-generation warfare techniques. The impact of COVID-19 on the overall MMIC market has been varied up until now. COVID-19 has severely impacted the supply chain of consumer elec......
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy