Credit by : Allied Market Research
Surge in the rate of smartphone & mobile game users, increase in adoption of augmented & virtual reality solutions in education, and expansion of gamer community drive the growth of the market. Based on applications, the consumer segment held the lion’s share. Based on industrial verticals, the gaming segment accounted for the largest revenue.
Portland, OR, Oct. 14, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Augmented and Virtual Reality Market was pegged at $11.32 billion in 2017 and is expected to garner $571.42 billion by 2025, witnessing a CAGR of 63.3% from 2018 to 2025. The report offers a detailed analysis of the key segments including top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Surge in the rate of smartphone & mobile game users, increase in adoption of augmented & virtual reality solutions in education, and expansion of the gamer community drive the growth of the market. However, absence of good user experience design and lack of good user experience design impede the market growth to certain extent. On the other hand, the advancement of technology and rise in adoption of AR VR by enterprises in the market would create new opportunities in the industry in upcoming period.
Based on applications, the consumer segment held more than three-fifths of the total market share in 2017 and is expected to continue its dominance throughout the forecast period. However, the enterprise segment would grow at the fastest CAGR of 70% by 2025.
Based on industrial vertical, the gaming segment accounted for more than one-fourth of the total market share in 2017 and is expected to continue its lead throughout the forecast period. Moreover, the segment would grow at the fastest CAGR 68.10% during the forecast period.
Based on region, North America held the major market share in 2017, contributing nearly two-fifths of the total market and will continue its dominant position throughout the forecast period. However, Asia Pacific is estimated to manifest the fastest CAGR of 66.70% from 2018 to 2025.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.