About Augmented Reality and Virtual Reality Gear
AR is a technology that diminishes the line between reality and computer-generated graphics. It enhances a user's experience, in terms of what the user sees, hears, feels, and smells. VR creates an immersive computer-generated environment that is like the real word. VR technology uses computers to develop a simulated artificial environment. With VR, a user can be a part of the experience rather than just view the content on a screen.
Technavio’s analysts forecast the global augmented reality and virtual reality gear market to grow at a CAGR of 37.45% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global augmented reality and virtual reality gear market for 2017-2021. To calculate the market size, the report considers the unit shipment of each device is multiplied by the average selling price (ASP)..
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Augmented Reality and Virtual Reality Gear Market 2017-2021
Technavio recognizes the following companies as the key players in the global augmented reality and virtual reality gear market: DAQRI, Microsoft, Atheer, Meta, BAE Systems, Samsung Electronics, Oculus, HTC, Google, Sony, Razer, VisusVR, FOVE, and Starbreeze.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing developer interest in AR and VR apps. The growth of the AR and VR market crucially depends on individual developers. The recent launch of the highly popular game Pokémon Go has increased interest and awareness about AR technology among users”
According to the report, one of the major drivers for this market is use of AR technology for effective advertising. With the use of AR, marketers can combine the physical world with the digital world. It creates opportunities for users as well as brands to connect with the product on a real-time basis, thereby driving purchases. AR advertisements are highly immersive and give customers the opportunity to find the best fit by responding to the requirements and matching one's interests.
Further, the report states that one of the major factors hindering the growth of this market is lack of content. There are numerous AR apps available in the market. These apps are developed mostly by individuals and companies. However, the majority of these apps fail to meet users' expectations, thereby reducing the growth potential and acceptance of AR among consumers.
DAQRI, Microsoft, Atheer, Meta, BAE Systems, Samsung Electronics, Oculus, HTC, Google, Sony, Razer, VisusVR, FOVE, Starbreeze.