Augmented Reality and Virtual Reality Market Report
An article on Med Gadget makes use of an extensive research report released in May 2016 by DecisionDatabases.com covering market size, overview, growth trends and future prospects of the Augmented and Virtual Reality market. The analysis is based on type, technology, component and verticals, and includes information about driving forces, restrictions and opportunity in the ARVR industry.
Driving forces include:
• Increasing interest in head-mounted displays (HDMs) in the entertainment and gaming industries
• Affordable displays and other components in HDMs
Restrictions include:
• Poor resolution
• Related health concerns
• Energy consumption reduces performance quality of VR devices
Naturally, the market demand for ARVR products is likely to increase as advertising and marketing grow. Awareness of the public about this type of technology, integration of the technology, and industry adoption is also set to aid ARVR market growth. The software component of Augmented and Virtual Reality is expected to have the highest compound annual growth rate from 2016 to 2022.
In addition, due to the increasing consumer market in Eastern countries such as Japan, China, and South Korea, it is anticipated that the ARVR market in Asia Pacific will have a double-digit growth by 2022. The great amount of startups will also support this growth by expanding strategic partnerships and increasing foreign investment. The report included a number of key players in the industry, including:
• Vuzix Corporation
• Samsung Electronics Co.
• Oculus VR
• Magic Leap
• Microsoft Corporation
• Blippar Inc.
• Daqri LLC
• Meta Company
• Google Inc.