Virtual Reality and Augmented Reality in Markets

Posted by Riya John on January 18th, 2018

Virtual reality (VR) creates an artificial environment in the world. It can create realistic images, sounds and other sensations that create a user's physical presence in a virtual or imaginary environment. Nowadays, the global virtual reality (VR) market was valued at approximately USD 2.02 billion in 2016 and is expected to reach approximately USD 26.89 billion by 2022. Virtual reality (VR) market segmented on the basis of technology, offering, device type, application, and regions. APAC region is anticipated to lead the virtual reality (VR) market in terms of revenue and is to witness the highest growth rate in the market by 2022. This is due to the increase in research and development centers in APAC and the growing acceptance of newer technologies in the some countries. China, India, and Japan are some of them. The key players in the VR include Oculus VR, LLC, Sony Corporation, HTC Corporation, Samsung Electronics Co., Ltd., EON Reality Inc., Google Inc., Microsoft Corporation, Vuzix Corporation, CyberGlove Systems Inc, Sensics, Inc., Leap Motion Inc., Marxent Labs LLC, WorldViz, Jaunt, Inc., Nokia, Cyberith GmbH, Virtalis Limited,  Sixense Entertainment etc. VR will be big, AR will be bigger and take longer

  According to the reports, the augmented reality market was valued at USD 2.39 Billion in 2016 and is expected to reach USD 61.39 Billion by 2023. Nowadays the augmented reality plays an important role not only in the field of 3D technology, but also in medicine, education, technical field etc. Technical reports include that augmented reality smart glasses will go towards 1 billion shipments near the end of the decade. Augmented Reality shipments will achieve 1 million by fall 2015 - for the most part for undertakings, trailed by an expansion to 10 million by 2016, 50-100 million shipments by 2018, and inevitably catch the standard customer space and cross 1 billion shipments at the turn of the decade. After 10 years, VR and AR  should change the outlook of the world according to these reports. For more