The global augmented reality and virtual reality market size is set to increase by USD 162.71 billion in 2025 at a growth rate of 46%, reports Technavio.
About 34% of the market’s growth will come from the Asia-Pacific. China and Japan are the key markets for AR and VR in the region. The growth will be faster than in other regions.
Many factors will help make this come into fruition. The presence of key vendors, Asia’s growing gaming industry in Japan, China, and India, and rising investments in AR and VR technologies are among those factors. These will expand the application in different fields to push AR and VR market growth in APAC over the period.
The AR and VR market has seen an increased demand for AR and VR technology. And the increasing number of M&A activities is set to boost the growth of the AR and VR Market. Still, high development costs for AR and VR apps may delay market growth.
The augmented reality and virtual reality market is split. Each vendor has deployed organic and inorganic growth strategies to keep up with the market.
The report analyzes the market’s competitive landscape and offers information on major market vendors, including:
- Alphabet Inc. – The company offers AR and VR under the brand name Google AR & VR.
- Facebook Inc – The company offers AR and VR under the brand name Oculus virtual reality products.
- HP Inc – The company offers AR and VR under the brand names Workstation Class VR: HP Z840 Workstation, Production Class VR: HP,
- Microsoft Corp – The company offers AR and VR under the brand names HoloLens 2 devices, HP Reverb G2 VR Headset, and Ultimate VR immersion.
- Samsung Electronics Co. Ltd – The company offers AR and VR under the brand name Gear VR.
Check out the full report here.