Augmented Reality and Virtual Reality Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology, Component and End-User Industry

According to the latest market research study on 'Augmented Reality and Virtual Reality Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology, Component, and End-User Industry,' the market is expected to grow from US$ 27.96 billion in 2021 to US$ 252.16 billion by 2028; it is estimated to grow at a CAGR of 36.9% during 2021-2028.

Immersive Learning Experience with VR, AR, and Gamification Boosts Augmented Reality and Virtual Reality Market Growth
In the last few decades, the learning analytics landscape has dramatically expanded, especially for higher education. Students learn faster when they engage in the gamified version of lessons. Gaming features help create a fun and productive learning experience for learners. Gamification is common in e-learning platforms meant for K-12 level students. According to an article published by EducationWorld in December 2019, STEPapp launched India's first-of-its-kind gamified learning edtech app to revolutionize K-12 education in the country.

Further, since the introduction of virtual reality and augmented reality into education, the sector has experienced tremendous transformation in learning. VR provides a built reality, and AR provides an image with an improved view. Thus, a surge in the integration of virtual reality, augmented reality, and gamification technologies into educational techniques would offer better academic results and create demand for AR and VR solutions contributing in augmented reality and virtual reality market growth.

Despite the negative impact of the COVID-19 pandemic-associated lockdowns and low cross-border trade, the augmented reality and virtual reality market has continued to grow with the increasing shift toward adopting AR and VR technologies, and businesses switching to remote working or hybrid working. According to an article published by the INEWS, in 2020, the China Spring Cloud Auto Show was organized by combining AR technology, big data, Web 3D, panoramic content, and other technologies to present cutting-edge technologies and products from multiple perspectives.

Key Findings of Study:

Based on technology, the augmented reality and virtual reality market is bifurcated into augmented reality and virtual reality. In 2021, the augmented reality segment led the market with a larger share. The increasing demand for remote assistance and cooperation from businesses to help with workflow management and optimization is projected to drive the market for the augmented reality segment.

Based on component, the augmented reality and virtual reality market is segmented into semiconductor components, sensors, and others. The growing popularity of AR and VR-enabled gadgets has driven sensor makers to invest heavily in research and development for the introduction of newer sensors, which helps them stay ahead of the competition. For example, TDK Corporation announced the development of a complete portfolio of VR sensors in January 2019, paving the way for a new class of economical and accurate all-in-one VR solutions.

Based on end-user industry, the augmented reality and virtual reality market is segmented into entertainment, educational, industrial, medical, real estate & architecture, retail, aerospace & defense, and others. In 2021, the entertainment segment accounted for the largest share in augmented reality and virtual reality market. Since the introduction of AR and VR technology, the entertainment sector has been their area of application. In this sector, these technologies are used in the production of gaming, movies, sports, travel, and other platforms. A person can get a real-world experience 3D world and interact with it via virtual reality.

The augmented reality and virtual reality market, based on geography, is segmented primarily into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the largest share in the global augmented reality and virtual reality market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global augmented reality and virtual reality market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the global augmented reality and virtual reality market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

1. Introduction

1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Augmented Reality and Virtual Reality Market - By Technology
1.3.2 Global Augmented Reality and Virtual Reality Market - By Component
1.3.3 Global Augmented Reality and Virtual Reality Market - By End-user Industry
1.3.4 Global Augmented Reality and Virtual Reality Market - By Geography

2. Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Augmented Reality and Virtual Reality Market Landscape

4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Augmented Reality and Virtual Reality Market - Key Market Dynamics

5.1 Market Drivers
5.1.1 Growing Use of Virtual Reality to Offer Better Customer Experience in Online Retail
5.1.2 Immersive Learning Experience with VR, AR, and Gamification
5.2 Market Restraints
5.2.1 Security and Privacy Issues
5.3 Market Opportunities
5.3.1 Investments in AR and VR Technologies
5.4 Future Trends
5.4.1 Transformation of Travel Sector with AR & VR
5.5 Impact Analysis of Drivers and Restraints

6. Augmented Reality and Virtual Reality Market - Global Market Analysis

6.1 Global Augmented Reality and Virtual Reality Market Overview
6.2 Global Augmented Reality and Virtual Reality Market Forecast and Analysis
6.3 Market Positioning- Top Five Players

7. Augmented Reality and Virtual Reality Market Analysis - By Technology

7.1 Overview
7.2 Augmented Reality and Virtual Reality, by Technology (2020 and 2028)
7.3 Augmented Reality
7.3.1 Overview
7.3.2 Augmented Reality: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Virtual Reality
7.4.1 Overview
7.4.2 Virtual Reality: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)

8. Augmented Reality and Virtual Reality Market - By Component

8.1 Overview
8.2 Augmented Reality and Virtual Reality, by Component (2020 and 2028)
8.3 Semiconductor Components
8.3.1 Overview
8.3.2 Semiconductor Components: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Sensors
8.4.1 Overview
8.4.2 Sensors: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)

9. Augmented Reality and Virtual Reality Market - By End-user Industry

9.1 Overview
9.2 Augmented Reality and Virtual Reality, by End-user Industry (2020 and 2028)
9.3 Entertainment
9.3.1 Overview
9.3.2 Entertainment: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Educational
9.4.1 Overview
9.4.2 Educational: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
9.6 Medical
9.6.1 Overview
9.6.2 Medical: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
9.7 Real Estate and Architecture
9.7.1 Overview
9.7.2 Real Estate and Architecture: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
9.8 Retail
9.8.1 Overview
9.8.2 Retail: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
9.9 Aerospace and Defense
9.9.1 Overview
9.9.2 Aerospace and Defense: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
9.10 Others
9.10.1 Overview
9.10.2 Others: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)

10. Augmented Reality and Virtual Reality Market - Geographic Analysis

10.1 Overview
10.2 North America: Augmented Reality and Virtual Reality Market
10.2.1 Overview
10.2.2 North America Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.2.3 North America Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.2.4 North America Augmented Reality and Virtual Reality Market Breakdown, By Components
10.2.5 North America Augmented Reality and Virtual Reality Market Breakdown, by Country
10.2.5.1 US Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.2.5.1.1 US Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.2.5.1.2 US Augmented Reality and Virtual Reality Market Breakdown, By Components
10.2.5.1.3 US Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.2.5.2 Canada Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.2.5.2.1 Canada Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.2.5.2.2 Canada Augmented Reality and Virtual Reality Market Breakdown, By Components
10.2.5.2.3 Canada Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.2.5.3 Mexico Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.2.5.3.1 Mexico Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.2.5.3.2 Mexico Augmented Reality and Virtual Reality Market Breakdown, By Components
10.2.5.3.3 Mexico Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3 Europe: Augmented Reality and Virtual Reality Market
10.3.1 Overview
10.3.2 Europe Augmented Reality and Virtual Reality Market Revenue and Forecast to 2028 (US$ million)
10.3.3 Europe Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.4 Europe Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.5 Europe Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6 Europe Augmented Reality and Virtual Reality Market Breakdown, by Country
10.3.6.1 Germany Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.3.6.1.1 Germany Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.1.2 Germany Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.1.3 Germany Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6.2 France Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.3.6.2.1 France Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.2.2 France Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.2.3 France Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6.3 Italy Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.3.6.3.1 Italy Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.3.2 Italy Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.3.3 Italy Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6.4 UK Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.3.6.4.1 UK Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.4.2 UK Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.4.3 UK Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6.5 Russia Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.3.6.5.1 Russia Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.5.2 Russia Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.5.3 Russia Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6.6 Rest of Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.3.6.6.1 Rest of Europe Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.6.2 Rest of Europe Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.6.3 Rest of Europe Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4 APAC: Augmented Reality and Virtual Reality Market
10.4.1 Overview
10.4.2 APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.3 APAC Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.4 APAC Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.5 APAC Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6 APAC Augmented Reality and Virtual Reality Market Breakdown, by Country
10.4.6.1 Australia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.1.1 Australia Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.1.2 Australia Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.1.3 Australia Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6.2 China Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.2.1 China Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.2.2 China Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.2.3 China Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6.3 India Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.3.1 India Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.3.2 India Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.3.3 India Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6.4 Japan Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.4.1 Japan Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.4.2 Japan Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.4.3 Japan Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6.5 South Korea Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.5.1 South Korea Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.5.2 South Korea Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.5.3 South Korea Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6.6 Rest of APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.6.1 Rest of APAC Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.6.2 Rest of APAC Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.6.3 Rest of APAC Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.5 MEA: Augmented Reality and Virtual Reality Market
10.5.1 Overview
10.5.2 MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.5.3 MEA Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.5.4 MEA Augmented Reality and Virtual Reality Market Breakdown, By Components
10.5.5 MEA Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.5.6 MEA Augmented Reality and Virtual Reality Market Breakdown, By Country
10.5.6.1 Saudi Arabia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.1.1 Saudi Arabia Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.5.6.1.2 Saudi Arabia Augmented Reality and Virtual Reality Market Breakdown, By Components
10.5.6.1.3 Saudi Arabia Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.5.6.2 UAE Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.2.1 UAE Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.5.6.2.2 UAE Augmented Reality and Virtual Reality Market Breakdown, By Components
10.5.6.2.3 UAE Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.5.6.3 South Africa Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.3.1 South Africa Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.5.6.3.2 South Africa Augmented Reality and Virtual Reality Market Breakdown, By Components
10.5.6.3.3 South Africa Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.5.6.4 Rest of MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.4.1 Rest of MEA Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.5.6.4.2 Rest of MEA Augmented Reality and Virtual Reality Market Breakdown, By Components
10.5.6.4.3 Rest of MEA Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.6 SAM: Augmented Reality and Virtual Reality Market
10.6.1 Overview
10.6.2 SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.6.3 SAM Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.6.4 SAM Augmented Reality and Virtual Reality Market Breakdown, By Components
10.6.5 SAM Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.6.6 SAM Augmented Reality and Virtual Reality Market Breakdown, by Country
10.6.6.1 Brazil Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.6.6.1.1 Brazil Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.6.6.1.2 Brazil Augmented Reality and Virtual Reality Market Breakdown, By Components
10.6.6.1.3 Brazil Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.6.6.2 Argentina Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.6.6.2.1 Argentina Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.6.6.2.2 Argentina Augmented Reality and Virtual Reality Market Breakdown, By Components
10.6.6.2.3 Argentina Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.6.6.3 Rest of SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to
10.6.6.3.1 Rest of SAM Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.6.6.3.2 Rest of SAM Augmented Reality and Virtual Reality Market Breakdown, By Components
10.6.6.3.3 Rest of SAM Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry

11. Augmented Reality and Virtual Reality Market - COVID-19 Impact Analysis

11.1 Overview
11.2 North America
11.3 Europe
11.4 APAC
11.5 MEA
11.6 SAM

12. Augmented Reality and Virtual Reality Market - End-user Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 New Development

13. Company Profiles

13.1 Immersive Gaze
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Google LLC
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 EON Reality.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Vuzix Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Blippar Group Limited (Layar B V)
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Innovega Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Simulanis Solutions Private Limited
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Kanda ApS
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 YeppAR
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Zugara, Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments

14. Appendix

14.1 About the Publisher
14.2 Glossary

List of Tables

Table 1. Global Augmented Reality and Virtual Reality Market, Revenue and Forecast, 2019-2028 (US$ Mn)
Table 2. North America Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Technology (US$ million)
Table 3. North America Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Components (US$ million)
Table 4. North America Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
Table 5. North America Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By End-user Industry (US$ million)
Table 6. North America Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Country (US$ million)
Table 7. US Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 8. US Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 9. US Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 10. Canada Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 11. Canada Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 12. Canada Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 13. Mexico Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 14. Mexico Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 15. Mexico Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 16. Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Technology (US$ million)
Table 17. Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Components (US$ million)
Table 18. Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By End-user Industry (US$ million)
Table 19. Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Country (US$ million)
Table 20. Germany Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 21. Germany Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 22. Germany Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 23. France Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 24. France Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 25. France Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 26. Italy Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 27. Italy Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 28. Italy Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 29. UK Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 30. UK Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 31. UK Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 32. Russia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 33. Russia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 34. Russia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 35. Rest of Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 36. Rest of Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 37. Rest of Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 38. APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Technology (US$ million)
Table 39. APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Components (US$ million)
Table 40. APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By End-user Industry (US$ million)
Table 41. APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Country (US$ million)
Table 42. Australia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 43. Australia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 44. Australia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 45. China Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 46. China Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 47. China Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 48. India Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 49. India Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 50. India Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 51. Japan Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 52. Japan Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 53. Japan Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 54. South Korea Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 55. South Korea Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 56. South Korea Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 57. Rest of APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 58. Rest of APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 59. Rest of APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 60. MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Technology (US$ million)
Table 61. MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Components (US$ million)
Table 62. MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By End-user Industry (US$ million)
Table 63. MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Country (US$ million)
Table 64. Saudi Arabia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 65. Saudi Arabia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 66. Saudi Arabia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 67. UAE Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 68. UAE Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 69. UAE Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 70. South Africa Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 71. South Africa Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 72. South Africa Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 73. Rest of MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 74. Rest of MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 75. Rest of MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 76. SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Technology (US$ million)
Table 77. SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Components (US$ million)
Table 78. SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By End-user Industry (US$ million)
Table 79. SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 - By Country (US$ million)
Table 80. Brazil Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 81. Brazil Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 82. Brazil Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 83. Argentina Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 84. Argentina Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 85. Argentina Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 86. Rest of SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Technology (US$ million)
Table 87. Rest of SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By Components (US$ million)
Table 88. Rest of SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 - By End-user Industry (US$ million)
Table 89. Glossary of Terms, Augmented Reality and Virtual Reality Market

List of Figures

Figure 1. Augmented Reality and Virtual Reality Market Segmentation
Figure 2. Augmented Reality and Virtual Reality Market Segmentation - Geography
Figure 3. Augmented Reality and Virtual Reality Market Overview
Figure 4. Augmented Reality and Virtual Reality Market, By Technology
Figure 5. Augmented Reality and Virtual Reality Market, By Component
Figure 6. Augmented Reality and Virtual Reality Market, By End-user Industry
Figure 7. Augmented Reality and Virtual Reality Market, By Region
Figure 8. North America PEST Analysis
Figure 9. Europe - PEST Analysis
Figure 10. Asia Pacific PEST Analysis
Figure 11. Middle East & Africa PEST Analysis
Figure 12. South America PEST Analysis
Figure 13. Augmented Reality and Virtual Reality Market Ecosystem Analysis
Figure 14. Expert Opinion
Figure 15. Augmented Reality and Virtual Reality Market: Impact Analysis of Drivers and Restraints
Figure 16. Global Augmented Reality and Virtual Reality Market
Figure 17. Global Augmented Reality and Virtual Reality Market, Forecast and Analysis (US$ Mn)
Figure 18. Market Positioning- Top Five Players
Figure 19. Augmented Reality and Virtual Reality Market Revenue Share, by Technology (2020 and 2028)
Figure 20. Augmented Reality: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Virtual Reality: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. Augmented Reality and Virtual Reality Market Revenue Share, by Component (2020 and 2028)
Figure 23. Semiconductor Components: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Sensors: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. Others: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Augmented Reality and Virtual Reality Market Revenue Share, by End-user Industry (2020 and 2028)
Figure 27. Entertainment: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. Educational: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. Industrial: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 30. Medical: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 31. Real Estate and Architecture: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 32. Retail: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 33. Aerospace and Defense: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 34. Others: Augmented Reality and Virtual Reality Market - Revenue and Forecast to 2028 (US$ Million)
Figure 35. Global Augmented Reality and Virtual Reality Market Breakdown, by Region, 2020 & 2028 (%)
Figure 36. North America Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 37. North America Augmented Reality and Virtual Reality Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 38. North America Augmented Reality and Virtual Reality Market Breakdown, By Components, 2020 & 2028 (%)
Figure 39. North America Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry, 2020 & 2028 (%)
Figure 40. North America Augmented Reality and Virtual Reality Market Breakdown, by Country, 2020 & 2028 (%)
Figure 41. US Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 42. Canada Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 43. Mexico Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 44. Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 45. Europe Augmented Reality and Virtual Reality Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 46. Europe Augmented Reality and Virtual Reality Market Breakdown, By Components, 2020 & 2028 (%)
Figure 47. Europe Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry, 2020 & 2028 (%)
Figure 48. Europe Augmented Reality and Virtual Reality Market Breakdown, by Country, 2020 & 2028(%)
Figure 49. Germany Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 50. France Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 51. Italy Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 52. UK Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 53. Russia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 54. Rest of Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 55. APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 56. APAC Augmented Reality and Virtual Reality Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 57. APAC Augmented Reality and Virtual Reality Market Breakdown, By Components, 2020 & 2028 (%)
Figure 58. APAC Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry, 2020 & 2028 (%)
Figure 59. APAC Augmented Reality and Virtual Reality Market Breakdown, by Country, 2020 & 2028 (%)
Figure 60. Australia Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 61. China Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 62. India Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 63. Japan Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 64. South Korea Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 65. Rest of APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 66. MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 67. MEA Augmented Reality and Virtual Reality Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 68. MEA Augmented Reality and Virtual Reality Market Breakdown, By Components, 2020 & 2028 (%)
Figure 69. MEA Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry, 2020 & 2028 (%)
Figure 70. MEA Augmented Reality and Virtual Reality Market Breakdown, By Country, 2020 & 2028 (%)
Figure 71. Saudi Arabia Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 72. UAE Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 73. South Africa Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 74. Rest of MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 75. SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 76. SAM Augmented Reality and Virtual Reality Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 77. SAM Augmented Reality and Virtual Reality Market Breakdown, By Components, 2020 & 2028 (%)
Figure 78. SAM Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry, 2020 & 2028 (%)
Figure 79. SAM Augmented Reality and Virtual Reality Market Breakdown, by Country, 2020 & 2028 (%)
Figure 80. Brazil Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 81. Argentina Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 82. Rest of SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 83. Impact of COVID-19 Pandemic in North American Country Markets
Figure 84. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 85. Impact of COVID-19 Pandemic in APAC Country Markets
Figure 86. Impact of COVID-19 Pandemic in MEA Country Markets
Figure 87. Impact of COVID-19 Pandemic in SAM Country Markets

Executive Summary

The augmented reality and virtual reality market is expected to grow from US$ 27.96 billion in 2021 to US$ 252.16 billion by 2028; it is estimated to grow at a CAGR of 36.9% during 2021-2028.

Customer support departments of various enterprises have improved considerably due to advancements in AI-powered chatbots and virtual assistants. However, chatbots struggle with remote troubleshooting, which is a major challenge faced by customer care teams. The incorporation of virtual reality in customer service has been a game-changer for retailers, enhancing consumer engagements and satisfaction. Moreover, after the end of communication between customers and the customer care departments, this technology can resolve fundamental and challenging issues in less time. For businesses, implementing excellent customer service initiatives is better than any other way to demonstrate how much they respect their customers. Virtual reality is the most advanced technology assisting the retail sector. It creates an immersive experience with a powerful sensory effect and a solid emotional connection. Businesses use this connection to engage with customers in new and relevant ways. When emotionally connected with a brand, customers are likely to repeat purchases and become brand loyalists. Furthermore, virtual reality provides consumers with a highly realistic experience. Marketers can create exciting, exhilarating, scary, and even emotional VR ads to display products in new ways. For example, The North Face, an outdoor recreation products company, created an immersive virtual reality experience using the landscape from Nepal to help customers connect with the brand's identity. Thus, the growing use of virtual reality solutions across retail stores is propelling the augmented reality and virtual reality market growth.

The adoption of AR is increasing across the world due to rising investments in the AR business, growing demand for AR devices and solutions in the healthcare industry, and surging demand for AR in the e-commerce and retail industries. In the healthcare sector, AR can offer a surgeon a virtual view of a patient’s body parts, allowing them to assess their condition, which helps surgeons perform invasive procedures accurately. The AR is also being used for teaching medical students, educating doctors, improving physical fitness, and managing pharmacies; the AR-enabled solutions also help hospitals in providing patient care and support after they leave the hospital. The availability of affordable VR devices, increasing adoption of HMDs in various industries, technological advancements and growing digitization, penetration of HMDs in gaming and entertainment sectors following the COVID-19 pandemic, and high investments in the VR industry are the primary factors driving the growth of the market for VR. However, the augmented reality and virtual reality market growth is hindered by the lack of user interface, processing power, and AR device storage.

Impact of COVID-19 Pandemic on Augmented Reality and Virtual Reality Market
As augmented reality (AR) and virtual reality (VR) technologies are used in head-mounted displays (HMDs), they are expected to be majorly adopted by medical professionals as protective gear in the coming years. Despite the negative impact of the COVID-19 pandemic-associated lockdowns and low cross-border trade, the augmented reality and virtual reality market has continued to grow with the increasing shift toward adopting AR and VR technologies, and businesses switching to remote working or hybrid working. According to an article published by the INEWS, in 2020, the China Spring Cloud Auto Show was organized by combining AR technology, big data, Web 3D, panoramic content, and other technologies to present cutting-edge technologies and products from multiple perspectives. Therefore, the overall impact of the COVID-19 pandemic on the global augmented reality and virtual reality market in 2020 was positive. In 2021, HTC Corporation conducted an online conference for developers using VR technology. Also, the digital transformation of several businesses in sectors such as retail (e-commerce), education (e-learning), and healthcare (advanced equipment) would support the growth of the augmented reality and virtual reality market in the coming years.

Based on technology, the augmented reality and virtual reality market is bifurcated into augmented reality and virtual reality. In 2021, the augmented reality segment led the augmented reality and virtual reality market. Based on component, the augmented reality and virtual reality market is segmented into semiconductor components, sensors, and others. In 2021, the semiconductor components segment accounted for the largest market share. Based on the end-user industry, the augmented reality and virtual reality market is segmented into entertainment, educational, industrial, medical, real estate & architecture, retail, aerospace & defense, and others. In 2021, the entertainment segment accounted for the largest market share. By geography, the augmented reality and virtual reality market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the largest share in the augmented reality and virtual reality market.

The size of the augmented reality and virtual reality market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the augmented reality and virtual reality market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants to validate data and gain more analytical insights. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants—including valuation experts, research analysts, and key opinion leaders—specializing in the augmented reality and virtual reality market.

The key companies operating in the augmented reality and virtual reality market include Immersive Gaze; Google LLC; EON Reality; Vuzix Corporation; Blippar Group Limited (Layar B V); Innovega Inc.; Simulanis Solutions Private Limited; Kanda ApS; YeppAR; and Zugara, Inc.

Companies Mentioned

Immersive Gaze
Google LLC
Eon Reality
Vuzix Corporation
Blippar Group Limited (Layar B V)
Innovega Inc.
Imulanis Solutions Private Limited
Kanda Aps
Yeppar
Zugara, Inc.

Table Information

Report Attribute	Details
No. of Pages	171
Published	March 2022
Forecast Period	2021 - 2028
Estimated Market Value ( USD ) in 2021	$ 27962.53 Million
Forecasted Market Value ( USD ) by 2028	$ 252164.93 Million
Compound Annual Growth Rate	36.9%
Regions Covered	Global
No. of Companies Mentioned	10

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Key Findings of Study:

Table of Contents

Executive Summary

Companies Mentioned

Table Information

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