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Pulished Date April, 2021
ID: 9197
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Global Augmented Reality and Virtual Reality Market segmented by Application (Commercial, Consumer, Aerospace and Defence, Healthcare, Enterprise), By Device type (Head Mounted Display, Head-Up Display, Gesture Control Devices, Projection Based Device), By Component (Hardware, Software and Services) and By Region (North America, Asia Pacific, Latin America, Europe, Middle East & Africa) - Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026

Pulished: April, 2021
ID: 9197
Pages: 210

Augmented Reality (AR) and Virtual Reality (VR) Market Size & Growth (2020 – 2025)

The global augmented reality market was esteemed at USD 4.21 billion in 2017 and is likely to reach USD 118.5 billion by 2025, developing at a CAGR of 40.29% during the forecast period. The virtual reality market was esteemed at USD 5.12 billion in 2017 and is required to reach USD 60.2 billion by 2025, developing at a CAGR of 33.95% during the estimated time. 

Hardware and software are the two driving segments adding to 64.95% and 23.91% of the general market, individually. The hardware systems market is mainly determined by expanding the surgeon's interest in an upgraded impression of depth during surgeries. The market segment involves an expansive scope of items, for example, video systems, head-mounted displays, motion sensors, 360° cameras, and surgical displays, among others.

Recent Developments:

  • The museum in NYC utilizes VR to give guests an understanding of others' thoughts. The individual in this generation prefers to spend money on experiences than on material things. Askaryan's solution was to make a museum experience that accompanies with the cute nickname MoFE utilizing VR in areas for a brief time. He depicts it as "a curated cerebral experience mixing vivid theater, psychology, and VR for an in-depth exploration of individual and collective consciousness." 
  • WASHINGTON [USA]: It turns out, augmented reality is fit for influencing individual's behavior, in both the physical world and a digitally improved one. As part of the examination, analysts found that after an individual had involvement in augmented reality (AR), reenacted by wearing goggles that layer computer-generated content onto real-world situations, their communications in their physical world changed. Considerably after their AR device was evacuated. As per the discoveries, while VR endeavors to reenact a real-life environment and take the client from the contemporary setting, AR technology layers' digital data on the user's physical environment.

Drivers and Restraints of Augmented Reality and Virtual Reality Market:


The developing focus of organizations on the feel of AR and VR devices is a crucial pattern in the global AR and VR market. AR and VR devices, for example, smart glasses, heads-up displays (HUD), and head-mounted displays (HMD) offer a high level of flexibility and versatility to clients. The application territories of AR and VR are various, and organizations are investigating approaches to incorporate these technologies into multiple fields. Moreover, the associations working in the market are progressively concentrating on the feel of these devices, so as to make them voguish, to bring their appropriation up in various applications.

The rising interest for the gesture and haptic control is supporting the development of the AR and VR market, around the world. The haptic innovation is utilized to make the feeling of touch that clients feel as applied forces, motion, or vibrations. At the same time, gesture recognition algorithms let clients control the devices and applications by utilizing their gestures, typically hand movements. With these advancements, the client can contact a virtual object, as though in reality. The rising prominence of these innovations has, in this manner added a new dimension to such devices, consequently driving their adoption.


The limited user interface (UI) influencing the navigation performance of AR applications, limited processing power, less storage, and the limited size of the memory card in mobile phones, and differed infrastructure quality of the digital network will restrain the development of AR market. The health concerns identifying with low resolution and lack of movement and display latency and energy consumption influencing the general execution of VR devices are the significant limitations in the VR market.

Market Segmentation:

By Application:

    • Commercial
    • Consumer
    • Aerospace and Defense
    • Healthcare
    • Enterprise

The enterprise classification is expected to observe the quickest development in the global AR and VR market during the conjecture time frame, based on application. Enterprises are as of benefiting from AR and VR in various manners, for example, optimized productivity, enhanced learning outcomes, real-time data and analytics visualization, efficient warehousing and logistics, and better collaboration with remote workers.

By Device Type:

    • Head Mounted Display (HMD)
    • Head-Up Display (HUD)
    • Gesture Control Devices
    • Projection Based Device

The HMD and HUD classifications are foreseen to hold the more significant share in the global AR and VR market by 2025, based on device type. In particular, HMDs are progressively gaining prominence in applications, for example, tourism, automotive, military, gaming, and education. The gigantic appropriation of mobile AR and VR is additionally presumed to help the dynamic development of this market category.

By Component:

  • Hardware
  • Software
  • Services

The hardware category created a higher income in the global AR and VR market in 2019, in view of the component. This is because of the expanding interest for high-performance AR and VR devices, expanding application areas, and diminishing item costs.

Augmented Reality and Virtual Reality Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada

North America AR and VR Market held the biggest share in this global business in 2019, fundamentally because of technological advancements, strong penetration of smartphones and internet, and early appropriation of rising technologies in the locale.

  1. Europe
    1. Norway
    2. Germany
    3. Sweden

Europe AR and VR market is second most prominent industry after North America, with increasing applications in end-user verticals.

  1. Asia Pacific (APAC)
    1. China
    2. India
    3. Japan

APAC augmented reality and virtual reality market is anticipated to witness the quickest development during the foreseen period, attributing to the increased investments in the adoption of latest technologies.

  1. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  2. Middle East and Africa

a. Middle East

b. Africa

Key Players of Market:

Some of the major players operating in the global augmented reality and virtual reality market are Blippar, Catchoom, Innovega Inc., Laster Technologies, Metaio Gmbh, Total Immersion, Vertalis Ltd, Augmented Pixels Co., Kooaba AG, Kishino Limited, Qualcomm Incorporated, Wikitude Gmbh and others. Earlier this market was operated by players with relatively low brand image. Thus, after the entrance of new huge players in the business, the interest for augmented reality & virtual reality has increased amongst the clients. 

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Augmented Reality and Virtual Reality Market, By Component                            

                                6.1.1 Hardware

                                6.1.2 Software 

                                6.1.3 Services   

                                6.1.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.5 Y-o-Y Growth Rate Analysis              

                                6.1.6 Market Attractiveness Index           

                6.2 Augmented Reality and Virtual Reality Market, By Device Type                            

                                6.2.1 Head Mounted Display      

                                6.2.2 Head-Up Display   

                                6.2.3 Gesture Control Devices   

                                6.2.4 Projection Based Device    

                                6.2.5 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.6 Y-o-Y Growth Rate Analysis              

                                6.2.7 Market Attractiveness Index           

                6.3 Augmented Reality and Virtual Reality Market, By Application                             

                                6.3.1 Commercial            

                                6.3.2 Consumer

                                6.3.3 Enterprise

                                6.3.4 Healthcare              

                                6.3.5 Aerospace and Defence    

                                6.3.6 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.7 Y-o-Y Growth Rate Analysis              

                                6.3.8 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              



                                7.2.2 By Component      

                                7.2.3 By Device Type      

                                7.2.4 By Application       

                7.3 Europe                         

                                7.3.1 By Country              






                                       Rest of Europe

                                7.3.2 By Component      

                                7.3.3 By Device Type      

                                7.3.4 By Application       

                7.4 Asia Pacific                  

                                7.4.1 By Country              




                                       South Korea

                                       South East Asia

                                       Australia & NZ

                                       Rest of Asia-Pacific

                                7.4.2 By Component      

                                7.4.3 By Device Type      

                                7.4.4 By Application       

                7.5 Latin America                            

                                7.5.1 By Country              




                                       Rest of Latin America

                                7.5.2 By Component      

                                7.5.3 By Device Type      

                                7.5.4 By Application       

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                       Middle East


                                7.6.2 By Component      

                                7.6.3 By Device Type      

                                7.6.4 By Application       

8. Key Player Analysis                                    

                8.1 Blippar                          

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Catchoom                   

                8.3 Laster Technologies                

                8.4 Innovega Inc.                             

                8.5 Metaio Gmbh                            

                8.6 Total Immersion                      

                8.7 Vertalis Ltd                 

                8.8 Augmented Pixels Co.                            

                8.9 Kooaba AG                 

                8.10 Qualcomm Incorporated                    

                8.11 Kishino Limited                       

9. Market Outlook & Investment Opportunities                                 


                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of Type and Technology along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Augmented Reality and Virtual Reality Market By Region, From 2020-2025 ( USD Billion )
  2. Global Augmented Reality and Virtual Reality Market By Component, From 2020-2025 ( USD Billion )
  3. Global Hardware Market By Region, From 2020-2025 ( USD Billion )
  4. Global Software Market By Region, From 2020-2025 ( USD Billion )
  5. Global Services Market By Region, From 2020-2025 ( USD Billion )
  6. Global Augmented Reality and Virtual Reality Market By Device Type, From 2020-2025 ( USD Billion )
  7. Global Head Mounted Display Market By Region, From 2020-2025 ( USD Billion )
  8. Global Head-Up Display Market By Region, From 2020-2025 ( USD Billion )
  9. Global Gesture Control Devices Market By Region, From 2020-2025 ( USD Billion )
  10. Global Projection Based Device Market By Region, From 2020-2025 ( USD Billion )
  11. Global Augmented Reality and Virtual Reality Market By Application, From 2020-2025 ( USD Billion )
  12. Global Commercial Market By Region, From 2020-2025 ( USD Billion )
  13. Global Consumer Market By Region, From 2020-2025 ( USD Billion )
  14. Global Enterprise Market By Region, From 2020-2025 ( USD Billion )
  15. Global Healthcare Market By Region, From 2020-2025 ( USD Billion )
  16. Global Aerospace and Defence Market By Region, From 2020-2025 ( USD Billion )

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