Product Overview

Augmented reality is defined as an advanced version of reality that makes use of technology to provide digital information with an image of something. Most commonly known as AR, it is used in applications for smartphones and tablets. On the other hand, virtual reality is a technology that creates a simulated environment with the aid of computer technology that offers a realistic user interface. It is also referred to as VR and can be artificial, such as being captured or animated and used as a real location in virtual reality. Special 3D programs that allow developers to integrate contextual or digital content with the real world are based on augmented reality apps. Virtual reality deals with the real user experience of the artificial world in an interactive simulated environment.

Augmented reality and virtual reality are interactive technologies that visualize a virtual world using either a device or a surface/platform. Virtual reality can be skillfully used for educational purposes when it becomes difficult to train an amateur in real-life scenarios. Virtual reality technologies can be used in military, manufacturing, medical, entertainment and gaming, visualization, education, robotics, marketing, navigation and route planning, geospatial, tourism, and urban planning, and civil engineering. Augmented reality in vertical areas is predominantly used in e-commerce, retail, engineering, education and training, automotive, travel, and tourism.

Market Highlights

Augmented Reality and Virtual Reality Market is expected to project a notable CAGR of 42.5% in 2030.

Augmented Reality and Virtual Reality Market to surpass USD 1,247.2 Billion by 2030 from USD 36.7 Billion in 2019 in terms of value growing at a CAGR of 42.5% throughout the forecast period, i.e., 2021-30. The market for global augmented reality and virtual reality is being fueled by the rising demand for AR applications in inpatient care management and medical education and training. AR plays a vital role in this business. AR can be used to assist doctors in understanding the virtual state of the patient's body parts and is likely to help surgeons perform minimally invasive surgery. Using AR modeling and 3D visualization can be of great benefit to the healthcare industry. The growth of the AR market is motivated by the use of AR for improving fitness, teaching complex subjects to healthcare students, training physicians, pharmacy management, and caring for and treating patients after they are discharged from the hospital. The growing penetration of smartphones and tablet computers provides a significant medium for AR and VR innovations to reach the masses through different platforms. Moreover, the company industry is considered one of the most important target markets for AR and VR. Besides, many Fortune 500 companies have begun experimenting with AR and VR technologies and implementing them, and several of them have even started pilot projects. In promoting the growth of the global market for augmented reality and virtual reality, these factors have been positively expected.

Augmented Reality and Virtual Reality Market: Segments

Software segment to grow with the highest CAGR of XX.X% during 2021-30

Augmented Reality and Virtual Reality Market is segmented by Offering as Hardware and Software. The hardware segment is estimated to lead the market with a share of over XX.X% in 2019 whereas the software segment has the highest CAGR over the forecast period owing to a substantial fall in AR and VR device prices, coupled with the rising popularity of AR and VR in gaming and easy availability of headsets. The increasing penetration of AR software solutions globally and its compatibility with earlier hardware devices is expected to drive the AR market during the forecast period in order to support the growth of the software industry. The demand for software is expected to increase due to the high acceptance boost provided by apps and platforms in the AR space. The decline in the software augmented reality industry's growth rate is due to the high market availability of software that will accelerate the AR hardware application market over the forecast period.

Consumer application Segment to grow with the highest CAGR during 2021-30

Augmented Reality and Virtual Reality Market is segmented by Application into Consumer, Commercial, Healthcare, Aerospace and Defense, and Others. The commercial application segment accounted for the largest revenue share of 51.6% in 2019 which is attributed to the rapid adoption of virtual reality systems in the gaming and entertainment industry. The rapid adoption of smartphones has led to the implementation of VR technology in commercial applications. The consumer application is estimated to witness the highest CAGR for the forecast period. In the virtual reality market, due to the high penetration of this sector in the gaming industry, the consumer sector, which includes gaming and entertainment applications, held the greatest share. The immersive technology offered in gaming and entertainment with the use of VR brings a user into a completely new virtual environment. During the forecast period, user applications will lead the growth in the virtual reality industry. Moreover, the adoption of virtual reality in the gaming industry has been fueled by advanced immersive experience and the availability of numerous gaming content.

Augmented Reality and Virtual Reality Market: Market Dynamics

Drivers

High Demand for Mobile-based Augmented Reality

A significant forum for AR and VR technologies to reach the masses across various platforms is given by the growing penetration of smartphones and tablet computers. Besides, for AR and VR, the business sector is considered one of the most important target markets. With all major smartphone manufacturers, software developers, and solution providers targeting the market, the application potential of these technologies in enterprises is immense. Besides, several Fortune 500 corporations have begun experimenting with and implementing AR and VR technologies, and some of them have already begun pilot projects. Hence, these variables have been positively predicted in driving the global market. Also, the video game is one of the major applications of augmented and virtual reality technology. The number of gamers worldwide has risen at a rapid rate in the past. This is due to the higher demand for augmented and virtual reality-based games, thereby driving the growth of the industry. For collaborative workshops, gatherings, public lectures, flight school, military training, training for nurses & medical professionals, and self-learning methods, augmented and virtual reality technology may be used. Besides, key players are expected to focus product innovation through continuous investment in product development to launch enhanced products or solutions, which will further contribute to the advancement of AR/VR technology.

Restrain

Technical and Security and privacy issues

The major challenges faced by the AR industry are security and privacy problems. Owing to the discrepancies in AR programming and the incompetence and monitoring of both developers and end-users of AR apps and devices, these problems have arisen. Few AR applications do not have the ability to protect privacy and user identity. The key problem is that there are no rules that specify the dos which do not apply to the climate of AR. This means that malicious intent can be integrated into AR technology and contribute to the abuse of personal information by users. It is possible to exploit an unsafe try-before-you-buy app, which is a major factor restricting the growth of such applications in the retail clothing market.

Augmented Reality and Virtual Reality Market: Key Players

Alphabet (Google Inc.)

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.

DAQRI

Facebook

HTC

Magic Leap, Inc.

Microsoft Corporation

Osterhout Design Group

Samsung Electronics Co., Ltd.

Sony

Wikitude

Augmented Reality and Virtual Reality Market: Regions

Augmented Reality and Virtual Reality Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.

Augmented Reality and Virtual Reality Market in North America led the market with a lion share of more than XX.X% in 2019 and is projected to maintain its lead over the forecast period followed by APAC in terms of revenue. Owing to the involvement of a large number of players providing AR and VR solutions, the U.S. is the largest market globally. Besides, it is expected that the growing use of AR and VR in the e-commerce and healthcare sectors will play an important role in driving the regional industry of North America in the future. APAC is experiencing a growing adoption of the latest technologies due to the presence of a number of display panel manufacturers in the area. In sectors such as healthcare, industry, and consumers, the AR & VR market in APAC is expected to grow at a high pace. The growing number of players in the region is projected to boost the AR & VR market's growth. The high growth in commercial and consumer markets is the major factor driving the growth of the AR & VR market in APAC. Moreover, growing consumer and commercial markets with increasing investments in countries such as Japan, India, and China are expected to boost the growth of the AR & VR market in APAC.

Competitive Landscape:

The Augmented Reality and Virtual Reality market, which is highly competitive, consists of several major players such as Google, PTC, Apple (US), Sony (Japan) hold a substantial market share in the Augmented Reality and Virtual Reality market. Other players analyzed in this report are Samsung Electronics (South Korea), Microsoft (US), HTC (Taiwan), Oculus (US), Seiko Epson (Japan), Lenovo (China), Wikitude (Austria), Magic Leap (US), Blippar (UK), Upskill (US), MAXST (South Korea), EON Reality (US), Vuzix (US), CyberGlove Systems (US), Leap Motion (US), and Sixense Enterprises (US) among others.

Augmented Reality and Virtual Reality Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Augmented Reality and Virtual Reality Market report also contains analysis on:

Augmented Reality and Virtual Reality Market Segments:

By Offering:

Hardware

Sensors

Cameras

Position trackers

Displays and projectors

Semiconductor components

Software

Software development kits (SDKs)

Cloud-based services

AR software functions

VR content creation

By Device Type:

AR Devices

Head-mounted displays (HMDs)

Head-up displays (HUDs)

Handheld devices

VR Devices

Head-mounted displays (HMDs)

Gesture-tracking devices

Projector and display walls

By Application:

Consumer

Commercial

Healthcare

Aerospace and Defense

Others

Augmented Reality and Virtual Reality Market Dynamics

Augmented Reality and Virtual Reality Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

FAQs on Augmented Reality and Virtual Reality Market

Which segment is anticipated to hold the largest market share

At what CAGR is the market anticipated to grow between 2020 and 2030

Who are the key players in the Augmented Reality and Virtual Reality Market

What could be the challenging factors in the growth of Augmented Reality and Virtual Reality Market

What are the growth drivers for the Augmented Reality and Virtual Reality Market

Contents

1. Executive Summary

2. Augmented Reality and Virtual Reality Market

1. Product Overview

2. Market Definition

3. Segmentation

4. Assumptions and Acronyms

3. Research Methodology

1. Research Objectives

2. Primary Research

3. Secondary Research

4. Forecast Model

5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

1. Growth Drivers

2. Restraints

3. Opportunity

4. Trends

7. Correlation & Regression Analysis

1. Correlation Matrix

2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

1. Demand Risk Analysis

2. Supply Risk Analysis

10. Augmented Reality and Virtual Reality Systems Analysis

1. Porters Five Forces

1. Threat of New Entrants

2. Bargaining Power of Suppliers

3. Threat of Substitutes

4. Rivalry

2. PEST Analysis

1. Political

2. Economic

3. Social

4. Technological

11. Augmented Reality and Virtual Reality Market

1. Market Size & forecast, 2020A-2030F

1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

2. By Volume 2020-2030F; Y-o-Y Growth (%) 2020-2030F

12. Augmented Reality and Virtual Reality: Market Segmentation

1. By Regions

1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

2. By Offering: Market Share (2020-2030F)

1. Hardware, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

2. Software, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

3. By Device Type: Market Share (2020-2030F)

1. AR Devices, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

2. VR Devices, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

4. By Application: Market Share (2020-2030F)

1. Consumer, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

2. Commercial, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

3. Healthcare, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

4. Aerospace and Defense, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

5. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2020-2030F

Company Profile

1. Alphabet (Google Inc.)

1. Company Overview

2. Company Total Revenue (Financials)

3. Market Potential

4. Global Presence

5. Key Performance Indicators

6. SWOT Analysis

7. Product Launch

2. DAQRI

3. Facebook

4. HTC

5. Magic Leap, Inc.

6. Microsoft Corporation

7. Osterhout Design Group

8. Samsung Electronics Co., Ltd.

9. Sony

10. Wikitude

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)