Technological Advancement has Led to the Widespread Emergence of AR and VR

Posted by BIS RSRCH on March 12th, 2020

AR and VR technologies utilize different hardware platforms for their applications. These technologies are compatible with devices such as smart glasses, head-up displays, head mounted displays and hand held devices among others.

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Modern day head mounted displays utilize technologies such as optical wave guides, liquid crystal displays, digital micro mirrors, and organic light emitting diodes for micro displays. These devices are equipped with GPS tracking systems, activity tracking systems, connectivity solutions such as Bluetooth, WI-Fi, and mobile operating systems. Some of the advanced smart glasses have the ability to communicate by voice commands, while others support touch buttons, external controllers and gesture controls, as well as are capable enough to run dedicated mobile apps.

Among the device type of VR, Head Mounted Display (HMD) holds the highest share of the market in 2016. Head mounted display in virtual reality is somewhat different from HMDs used in augmented reality as these devices completely blocks the interaction from  the real world while allowing users to interact with the virtual environment or computer simulated reality. It is used in fully immersive virtual reality purposes.

The commercial sector is utilizing AR technology on a wider level especially when it comes to hand held devices platform. AR applications are being used by retail companies to provide detailed information of the product on its packaging using smart-phones or tablet computers. Mobile advertising is also being used by AR companies to increase brand recognition among consumers. Among the major applications of VR, the consumer application generated the highest revenue in 2015. The consumer segment of VR technology comprises of gaming and entertainment applications. Gaming market has always been one of the keen targets for VR companies. The integration of audio and video graphics into an immersive virtual world for gaming purposes has gained significant popularity among the gaming community.

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The US has always been on the forefront of the world map when it comes to technological advancement. Therefore, like other disruptive technologies, virtual reality and augmented reality has also extended its roots onto the US market. In terms of hardware segment, most of the prominent companies are US based, giving significant impetus to the growth of this market in the US as well as whole North America. Even the companies which are not US based has significance presence in the US, either because of their manufacturing facilities or R&D bases. However, the presence of big players in APAC market such as Samsung Electronics, Sony Corporation, and HTC Corporation is expected to push the growth of AR and VR market in the APAC region. In terms of demand, China is expected to play an important role due its well-established manufacturing and engineering sector.

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Joined: March 5th, 2020
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