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Augmented Reality & Virtual Reality Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028

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  • 182 Pages
  • September 2023
  • Region: Global
  • TechSci Research
  • ID: 5877685
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The Global Augmented Reality & Virtual Reality Market is anticipated to grow at a robust pace in the forecast period, 2023-2028. The global augmented reality & virtual reality market is primarily driven by the expansion of the mobile gaming sector and rising internet connectivity. Additionally, it is anticipated that rising consumer electronics devices usage will support market expansion on a global scale.

The augmented and virtual reality solutions are designed to provide a digitally immersive user experience that can be used for commercial and entertainment purposes across a variety of industrial verticals. A multi-sensory computer-generated experience that allows individuals to engage and interact with a simulated environment is referred to as virtual reality. Contrarily, augmented reality uses digitally created perceptual overlays to improve the real environment. When compared to alternative solutions, training and simulation solutions have greater initial expenditures and development costs among diverse end-user sectors. In contrast to conventional tools and approaches, augmented and virtual technology-based solutions offer improved training possibilities. The developers of the solutions concentrate on the tiniest aspects of actual situations when creating them, allowing users to receive practical training with the least amount of financial, human, and physical waste.

Moreover, increase in the number of gamers and a better understanding of the advantages of augmented and virtual reality technology-based solutions among end users in many industries are leading to market growth. Leading companies in the augmented and virtual reality space are drawn to creating augmented and virtual content that can run on a range of devices, including mobile phones, game consoles, tablets, and personal computers.

Expansion of the Gaming Community

One of the most primary applications of augmented and virtual reality technologies is in video games. The number of gamers in the world has previously been growing quickly. Applications for augmented reality and virtual reality are evolving quickly and penetrating many industries. Instead of smartphone manufacturers, startups and game businesses have been mostly responsible for the latest trends in AR and VR. In order to give players who are continually seeking for the optimal gaming experience what they want, video games continue to expand and evolve alongside the advent of new technological developments. Additionally, AR and VR are expanding the field of video gaming by providing gamers with captivating experiences, which is fueling the market's expansion.

Growth in the Use of Smartphones

Users can now view virtual graphics embedded in real situations because of growing smartphone penetration and technological improvements. Customers may also interact with these images and objects by just utilizing the camera on their smartphone devices, which is another important reason driving the AR and VR market's expansion. Moreover, mobile devices are anticipated to increase demand for these technologies as augmented reality (AR) and virtual reality (VR) are becoming important components of contemporary smartphones. Additionally, smartphone manufacturers are currently working to create the new generation of ground-breaking computing devices, which is anticipated to create new market expansion chances. Additionally, owing to location-based AR apps, AR can now be delivered solely through smartphones. Even though AR adoption is still in its early stages, there are many prospects for its widespread use because smartphone use is expanding quickly in developing nations like India. For instance, it is anticipated that by 2020, there will be over 400 million users, up from the current 300 million users, which would present an opportunity for the AR and VR business to flourish. Additionally, Samsung has already filed for patents on the display technologies that should allow holograms or holographic icons to be shown in three dimensions on smartphones and TVs.

Market Segmentation

Global Augmented Reality & Virtual Reality market is segmented by product type, by organization size, by offering, by application, by end user, by region and competitional landscape. Based on product type, the market is segmented into head-mounted display, head-up display, smart glass, handheld device applications. Based on organization size, the market is segmented into SMEs, large enterprises. Based on offering, the market is segmented into hardware & software. Based on application, the market is segmented into consumer, enterprise. Based on end user, the market is segmented into entertainment, manufacturing, healthcare, defense, consumer electronics, automotive, & others.

Market players

Major market players in the global augmented reality & virtual reality market are Alphabet Inc., DAQRI LLC, Facebook Inc., HP Inc., HTC Corporation, Magic Leap Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Toshiba Corporation.

Report Scope

In this report, the Global Augmented Reality & Virtual Reality market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Augmented Reality & Virtual Reality Market, by Product Type:

  • Head-Mounted Display
  • Head-Up Display
  • Smart Glass
  • Handheld Device Applications

Augmented Reality & Virtual Reality Market, by Organization Size:

  • SMEs
  • Large Enterprises

Augmented Reality & Virtual Reality Market, by Offering:

  • Hardware
  • Software

Augmented Reality & Virtual Reality Market, by Application:

  • Consumer
  • Enterprise

Augmented Reality & Virtual Reality Market, by End User:

  • Entertainment
  • Manufacturing
  • Healthcare
  • Defense
  • Consumer Electronics
  • Automotive
  • Others

Augmented Reality & Virtual Reality Market, by Region:

  • North America
  • Asia-Pacific
  • Europe
  • South America
  • Middle East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Augmented Reality & Virtual Reality market.

Available Customizations

The following customization options are available for the report:
  • Detailed analysis and profiling of additional market players (up to five).


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Table of Contents

1. Product Overview2. Research Methodology3. Impact of COVID-19 on Global Augmented Reality & Virtual Reality Market4. Executive Summary5. Voice of Customers
6. Global Augmented Reality & Virtual Reality Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Product Type (Head-Mounted Display, Head-Up Display, Smart Glass, Handheld Device Applications)
6.2.2. By Organization Size (SMEs, Large Enterprises)
6.2.3. By Offering (Hardware & Software)
6.2.4. By Application (Consumer, Enterprise)
6.2.5. By End User (Entertainment, Manufacturing, Healthcare, Defense, Consumer Electronics, Automotive, & Others)
6.2.6. By Region
6.3. By Company (2022)
6.4. Market Map
7. North America Augmented Reality & Virtual Reality Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Product Type
7.2.2. By Organization Size
7.2.3. By Offering
7.2.4. By Application
7.2.5. By End User
7.2.6. By Country
7.3. North America: Country Analysis
7.3.1. United States Augmented Reality & Virtual Reality Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Product Type
7.3.1.2.2. By Organization Size
7.3.1.2.3. By Offering
7.3.1.2.4. By Application
7.3.1.2.5. By End User
7.3.2. Canada Augmented Reality & Virtual Reality Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Product Type
7.3.2.2.2. By Organization Size
7.3.2.2.3. By Offering
7.3.2.2.4. By Application
7.3.2.2.5. By End User
7.3.3. Mexico Augmented Reality & Virtual Reality Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Product Type
7.3.3.2.2. By Organization Size
7.3.3.2.3. By Offering
7.3.3.2.4. By Application
7.3.3.2.5. By End User
8. Asia-Pacific Augmented Reality & Virtual Reality Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Product Type
8.2.2. By Organization Size
8.2.3. By Offering
8.2.4. By Application
8.2.5. By End User
8.2.6. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Augmented Reality & Virtual Reality Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Product Type
8.3.1.2.2. By Organization Size
8.3.1.2.3. By Offering
8.3.1.2.4. By Application
8.3.1.2.5. By End User
8.3.2. India Augmented Reality & Virtual Reality Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Product Type
8.3.2.2.2. By Organization Size
8.3.2.2.3. By Offering
8.3.2.2.4. By Application
8.3.2.2.5. By End User
8.3.3. Japan Augmented Reality & Virtual Reality Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Product Type
8.3.3.2.2. By Organization Size
8.3.3.2.3. By Offering
8.3.3.2.4. By Application
8.3.3.2.5. By End User
8.3.4. South Korea Augmented Reality & Virtual Reality Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Product Type
8.3.4.2.2. By Organization Size
8.3.4.2.3. By Offering
8.3.4.2.4. By Application
8.3.4.2.5. By End User
8.3.5. Australia Augmented Reality & Virtual Reality Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Product Type
8.3.5.2.2. By Organization Size
8.3.5.2.3. By Offering
8.3.5.2.4. By Application
8.3.5.2.5. By End User
8.3.6. Singapore Augmented Reality & Virtual Reality Market Outlook
8.3.6.1. Market Size & Forecast
8.3.6.1.1. By Value
8.3.6.2. Market Share & Forecast
8.3.6.2.1. By Product Type
8.3.6.2.2. By Organization Size
8.3.6.2.3. By Offering
8.3.6.2.4. By Application
8.3.6.2.5. By End User
8.3.7. Malaysia Augmented Reality & Virtual Reality Market Outlook
8.3.7.1. Market Size & Forecast
8.3.7.1.1. By Value
8.3.7.2. Market Share & Forecast
8.3.7.2.1. By Product Type
8.3.7.2.2. By Organization Size
8.3.7.2.3. By Offering
8.3.7.2.4. By Application
8.3.7.2.5. By End User
9. Europe Augmented Reality & Virtual Reality Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Product Type
9.2.2. By Organization Size
9.2.3. By Offering
9.2.4. By Application
9.2.5. By End User
9.2.6. By Country
9.3. Europe: Country Analysis
9.3.1. Germany Augmented Reality & Virtual Reality Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Product Type
9.3.1.2.2. By Organization Size
9.3.1.2.3. By Offering
9.3.1.2.4. By Application
9.3.1.2.5. By End User
9.3.2. United Kingdom Augmented Reality & Virtual Reality Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Product Type
9.3.2.2.2. By Organization Size
9.3.2.2.3. By Offering
9.3.2.2.4. By Application
9.3.2.2.5. By End User
9.3.3. France Augmented Reality & Virtual Reality Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Product Type
9.3.3.2.2. By Organization Size
9.3.3.2.3. By Offering
9.3.3.2.4. By Application
9.3.3.2.5. By End User
9.3.4. Russia Augmented Reality & Virtual Reality Market Outlook
9.3.4.1. Market Size & Forecast
9.3.4.1.1. By Value
9.3.4.2. Market Share & Forecast
9.3.4.2.1. By Product Type
9.3.4.2.2. By Organization Size
9.3.4.2.3. By Offering
9.3.4.2.4. By Application
9.3.4.2.5. By End User
9.3.5. Spain Augmented Reality & Virtual Reality Market Outlook
9.3.5.1. Market Size & Forecast
9.3.5.1.1. By Value
9.3.5.2. Market Share & Forecast
9.3.5.2.1. By Product Type
9.3.5.2.2. By Organization Size
9.3.5.2.3. By Offering
9.3.5.2.4. By Application
9.3.5.2.5. By End User
9.3.6. Belgium Augmented Reality & Virtual Reality Market Outlook
9.3.6.1. Market Size & Forecast
9.3.6.1.1. By Value
9.3.6.2. Market Share & Forecast
9.3.6.2.1. By Product Type
9.3.6.2.2. By Organization Size
9.3.6.2.3. By Offering
9.3.6.2.4. By Application
9.3.6.2.5. By End User
9.3.7. Italy Augmented Reality & Virtual Reality Market Outlook
9.3.7.1. Market Size & Forecast
9.3.7.1.1. By Value
9.3.7.2. Market Share & Forecast
9.3.7.2.1. By Product Type
9.3.7.2.2. By Organization Size
9.3.7.2.3. By Offering
9.3.7.2.4. By Application
9.3.7.2.5. By End User
10. South America Augmented Reality & Virtual Reality Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Product Type
10.2.2. By Organization Size
10.2.3. By Offering
10.2.4. By Application
10.2.5. By End User
10.2.6. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Augmented Reality & Virtual Reality Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Product Type
10.3.1.2.2. By Organization Size
10.3.1.2.3. By Offering
10.3.1.2.4. By Application
10.3.1.2.5. By End User
10.3.2. Argentina Augmented Reality & Virtual Reality Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Product Type
10.3.2.2.2. By Organization Size
10.3.2.2.3. By Offering
10.3.2.2.4. By Application
10.3.2.2.5. By End User
10.3.3. Colombia Augmented Reality & Virtual Reality Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Product Type
10.3.3.2.2. By Organization Size
10.3.3.2.3. By Offering
10.3.3.2.4. By Application
10.3.3.2.5. By End User
10.3.4. Peru Augmented Reality & Virtual Reality Market Outlook
10.3.4.1. Market Size & Forecast
10.3.4.1.1. By Value
10.3.4.2. Market Share & Forecast
10.3.4.2.1. By Product Type
10.3.4.2.2. By Organization Size
10.3.4.2.3. By Offering
10.3.4.2.4. By Application
10.3.4.2.5. By End User
10.3.5. Chile Augmented Reality & Virtual Reality Market Outlook
10.3.5.1. Market Size & Forecast
10.3.5.1.1. By Value
10.3.5.2. Market Share & Forecast
10.3.5.2.1. By Product Type
10.3.5.2.2. By Organization Size
10.3.5.2.3. By Offering
10.3.5.2.4. By Application
10.3.5.2.5. By End User
11. Middle East & Africa Augmented Reality & Virtual Reality Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Product Type
11.2.2. By Organization Size
11.2.3. By Offering
11.2.4. By Application
11.2.5. By End User
11.2.6. By Country
11.3. Middle East & Africa: Country Analysis
11.3.1. Saudi Arabia Augmented Reality & Virtual Reality Market Outlook
11.3.1.1. Market Size & Forecast
11.3.1.1.1. By Value
11.3.1.2. Market Share & Forecast
11.3.1.2.1. By Product Type
11.3.1.2.2. By Organization Size
11.3.1.2.3. By Offering
11.3.1.2.4. By Application
11.3.1.2.5. By End User
11.3.2. South Africa Augmented Reality & Virtual Reality Market Outlook
11.3.2.1. Market Size & Forecast
11.3.2.1.1. By Value
11.3.2.2. Market Share & Forecast
11.3.2.2.1. By Product Type
11.3.2.2.2. By Organization Size
11.3.2.2.3. By Offering
11.3.2.2.4. By Application
11.3.2.2.5. By End User
11.3.3. UAE Augmented Reality & Virtual Reality Market Outlook
11.3.3.1. Market Size & Forecast
11.3.3.1.1. By Value
11.3.3.2. Market Share & Forecast
11.3.3.2.1. By Product Type
11.3.3.2.2. By Organization Size
11.3.3.2.3. By Offering
11.3.3.2.4. By Application
11.3.3.2.5. By End User
11.3.4. Israel Augmented Reality & Virtual Reality Market Outlook
11.3.4.1. Market Size & Forecast
11.3.4.1.1. By Value
11.3.4.2. Market Share & Forecast
11.3.4.2.1. By Product Type
11.3.4.2.2. By Organization Size
11.3.4.2.3. By Offering
11.3.4.2.4. By Application
11.3.4.2.5. By End User
11.3.5. Turkey Augmented Reality & Virtual Reality Market Outlook
11.3.5.1. Market Size & Forecast
11.3.5.1.1. By Value
11.3.5.2. Market Share & Forecast
11.3.5.2.1. By Product Type
11.3.5.2.2. By Organization Size
11.3.5.2.3. By Offering
11.3.5.2.4. By Application
11.3.5.2.5. By End User
12. Market Dynamics
12.1. Drivers
12.1.1. Expansion of the Gaming Community
12.1.2. Growth in Use of Smart Phones
12.1.3. Rise in Internet Penetration
12.2. Challenges
12.2.1. Challenge to adopt the augmented and virtual reality technology in underdeveloped areas
12.2.2. Lack of good user experience design
13. Market Trends & Developments
13.1. Progressing adoption of AR VR by enterprises
13.2. Rise in Technological Development
13.3. Government Initiatives
13.4. Increased Adoption in SMEs
13.5. Cost-effective advantages of augmented and virtual reality-based solutions
14. Company Profiles
14.1. Alphabet Inc.
14.1.1. Business Overview
14.1.2. Key Revenue and Financials
14.1.3. Recent Developments
14.1.4. Key Personnel
14.1.5. Key Product/Services
14.2. DAQRI LLC
14.2.1. Business Overview
14.2.2. Key Revenue and Financials
14.2.3. Recent Developments
14.2.4. Key Personnel
14.2.5. Key Product/Services
14.3. Facebook Inc
14.3.1. Business Overview
14.3.2. Key Revenue and Financials
14.3.3. Recent Developments
14.3.4. Key Personnel
14.3.5. Key Product/Services
14.4. HP Inc.
14.4.1. Business Overview
14.4.2. Key Revenue and Financials
14.4.3. Recent Developments
14.4.4. Key Personnel
14.4.5. Key Product/Services
14.5. HTC Corporation
14.5.1. Business Overview
14.5.2. Key Revenue and Financials
14.5.3. Recent Developments
14.5.4. Key Personnel
14.5.5. Key Product/Services
14.6. Microsoft Corporation
14.6.1. Business Overview
14.6.2. Key Revenue and Financials
14.6.3. Recent Developments
14.6.4. Key Personnel
14.6.5. Key Product/Services
14.7. Samsung Electronics Co. Ltd.
14.7.1. Business Overview
14.7.2. Key Revenue and Financials
14.7.3. Recent Developments
14.7.4. Key Personnel
14.7.5. Key Product/Services
14.8. Sony Corporation
14.8.1. Business Overview
14.8.2. Key Revenue and Financials
14.8.3. Recent Developments
14.8.4. Key Personnel
14.8.5. Key Product/Services
14.9. Magic Leap Inc.
14.9.1. Business Overview
14.9.2. Key Revenue and Financials
14.9.3. Recent Developments
14.9.4. Key Personnel
14.9.5. Key Product/Services
14.10. Toshiba Corporation
14.10.1. Business Overview
14.10.2. Key Revenue and Financials
14.10.3. Recent Developments
14.10.4. Key Personnel
14.10.5. Key Product/Services
15. Strategic Recommendations16. About the Analyst & Disclaimer

Companies Mentioned

  • Alphabet Inc.
  • DAQRI LLC
  • Facebook Inc.
  • HP Inc.
  • HTC Corporation
  • Microsoft Corporation
  • Samsung Electronics Co. Ltd.
  • Sony Corporation
  • Magic Leap Inc.
  • Toshiba Corporation

Table Information

Report AttributeDetails
No. of Pages182
PublishedSeptember 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 32.56 Billion
Forecasted Market Value ( USD ) by 2028 $ 68.8 Billion
Compound Annual Growth Rate13.2%
Regions CoveredGlobal
No. of Companies Mentioned10

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