The virtual reality and augmented reality market is estimated to represent a global market of USD 9.3 billion by 2017 with growth rate of 41.9%.
Market Dynamics Virtual reality is artificial surrounding technique, created with software program. It is supplied to the end-user in a manner that the person accepts it as real surroundings. Unlike virtual reality that creates a complete virtual environment around, augmented reality put together virtual objects into existing real surroundings. Whereas combination of virtual and augmented reality is termed as mixed reality. The VR and AR industry is on a growth trajectory owing to the technology breakthroughs. This technology has been around for decades but has hit the market just a few years back. There has been a several research activities undergoing in this area and a number of prototypes were made for the development of novel applications and products. This technology was a very niche some years back, however, the companies have realized the need for a new content technology and are now leveraging the same to the end-consumers.
Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-53412 As of now, several products are commercially available and the industry is witnessing an immense growth in the demand for products and applications. Until now, VR/AR has largely been used in entertainment purposes. However, the application of this technology is applied in a wide variety of industries, such as tourism, medicine, retail, and manufacturing. Such factors, would in turn, boost the industry growth to great extent. However, in contrast to the profound benefits of AR/VR technologies, some serious threats to the physical and emotional wellbeing of the users are also noticed after product usage. A certain percentage of users have experienced stress and anxiety after using VR headsets. Other negative health issues such as retinal radiation, motion sickness, and severe eyestrain are also noticed. Such health concerns will pull back the market growth over the study period. Furthermore, as per the various research studies, there is an insufficient virtual reality game content available commercially, which can be the major obstacle for the industry development. Component Takeaway In terms of components, the market is categorized as software and hardware. Software platforms and toolkits used in virtual reality are an essential part of the industry. As the technology advances, there will be an increasing demand for better software and toolkits for ease of access and development of various applications. Further, advancement will reduce the cost of the development and increase sophistication of the device to carry out multiple actions, driving the segment growth.
Application Takeaway
Application wise, the market is divided as healthcare, gaming, energy, automotive, enterprise and others. Additionally, AR and VR have already begun making inroads into medical training, surgical suites, physician’s offices, and home care situations. Among the different applications, healthcare and automotive sectors captured significant revenue share in 2017, anticipated to grow with promising CAGR over the study period. Regional Takeaway Regionally, the market is dominated by North America and European countries. However, Asia Pacific region exhibits great potential for this market. With subsidy schemes being introduced and trade associations being set up, a strong business environment is taking shape in developing regions that can contribute to the growth of VR/AR businesses. For instance, in Japan, the Ministry of Economy, Trade and Industry (METI) provides subsidies (Maximum of 10M yen per project) for the costs involved in creating advanced content creation technologies. In Asian countries, South Korea also exhibits strong potential in AR/VR market. As per the Korea VR-AR Industry Association, the South Korean VR market was estimated at US$ 1.1 billion in 2016 and is projected to grow with strong growth rate.
Key Vendor Takeaway
Some of the prominent players are Microsoft, Google, Sony, Samsung Electronics, Infinity Augmented Reality Inc., Blippar.Com Ltd., and Daqri. As per the report statistics, Sony grabbed first place in terms of device shipment, followed by Oculus and HTC. In 2017, Sony shipped around 1.7 million units, Oculus shipped 700,000 and HTC shipped 500,000 units worldwide. The market size and forecast for each segment and sub-segments has been considered as below: Historical Year – 2014 & 2016 Base Year – 2017 Estimated Year – 2018 Projected Year – 2025 TARGET AUDIENCE Traders, Distributors, and Suppliers Manufacturers Government and Regional Agencies and Research Organizations Consultants Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows: MARKET, BY COMPONENT Software Hardware MARKET, BY APPLICATION Healthcare Gaming Energy Automotive Enterprise Others MARKET, BY REGION North America U.S. Canada Europe Germany France Rest of Europe Asia Pacific India China Rest of APAC Rest of the World Middle East and Africa Latin America
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