Global Augmented Reality and Virtual Reality Market: Analytical Market Overview by 2024

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AR and VR Market Size of USD 112.8 billion by 2024
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Augmented Reality And Virtual Reality Market

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Augmented Reality And Virtual Reality Market
Industry Overview
The global augmented reality (AR) and virtual
reality (VR) market is expected to witness
immense growth at a CAGR of 56.8 during the
forecast period with its market size reaching USD
112.8 billion by 2024. The 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 mixed
reality that can be implemented for prospective
applications. The market for AR and VR market is
primarily driven by technological development,
rapid growth in the adoption of tablet computers
and smart phones, excessive concentration of
major tech players in the AR and VR system
worldwide.
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Augmented Reality And Virtual Reality Market
Growth Drivers
The major factors that are driving the growth the
AR and VR market includes excessive dissemination
of tablets and smartphones among the population
of various emerging as well as emerged economy is
enabling a steady stage for AR and VR products.
It has been observed that the AR and VR systems
are becoming accessible to the consumers through
various mediums such as platforms and devices.
Furthermore, smartphones are extensively being
utilized as input expedients for monitoring the
VR situation, especially for the virtual reality
gaming applications. Moreover, the increasing
penetration of smartphones and tablet computers
is extensively contributing towards the growth of
AR and VR market across the globe. The
tablet-based and mobile based AR and VR
technology is observing rapid application form
the key players operating in education, interior
designing, e-commerce, architecture and
furnishing. These factors are thereby attributing
towards the rapid growth of AR and VR market
globally.
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Augmented Reality And Virtual Reality Market
Geographic Overview
North America accounted for the major share in
the AR and VR industry in 2017, globally as the
players in the region are continuously investing
capital for the advancement of technology.
Geographically, Asia-Pacific is expected to
witness the fastest growth during the forecast
period. The growth of this market is attributed
towards increasing investment in defense and
commercial domain in this region. Existence of
large number of display board industrialists
along with technological enhancements are the key
factors bolstering the growth of AR and VR
market. Explore Full Report Description At
https//www.vynzresearch.com/ict-media/augmented-r
eality-and-virtual-reality-market
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Augmented Reality And Virtual Reality Market
Competitive Insight
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.
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Augmented Reality And Virtual Reality Market
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