Status : Published | Published On : Aug, 2022 | Report Code : VRICT5010 | Industry : ICT & Media | Available Format : | Page : 192 |
The global Augmented Reality (AR) and Virtual Reality (VR) Market generated revenue of USD 28.2 billion in 2023 and is expected to reach USD 165.3 billion by 2030, witnessing a 50.6% CAGR during the forecast period 2025 to 2030. Increasing responsiveness about this technology among the consumers in both developed as well as developing economy, rapid acceptance of AR and VR technology among various industry domains along with an amalgamation of AR and VR to develop the mixed reality that can be implemented for prospective applications, propelling the growth of the market. Factors contributing to market growth include increasing investments in AR and VR technologies, the rising demand for immersive experiences, advancements in hardware and software capabilities, and the expanding range of applications across industries.
VR enables the utilization of computer technology in order to develop a simulated environment. On the contrary, AR coats computer-generated developments over an existing reality that enhances the interaction ability of this system.
Based on components, the global augmented reality and virtual reality market is divided into data hardware and software, wherein the hardware category accounted for the largest share in 2022. However, the software category is expected to witness faster growth during the forecast period owing to the increasing demand from the media and entertainment industry to meet the evolving needs of the consumers such as that simulation games that are based on AR technology.
On the basis of device type, the global augmented reality and virtual reality market are categorized into AR devices and VR devices. Among the two categories, the AR devices category is expected to witness faster growth during the forecast period owing to the high demand for AR and VR technology from the healthcare and retail domain in a developed economy that enables doctors and nurses to identify vein locations in patients.
The global augmented reality and virtual reality market are segregated into AR applications and VR applications based on application. AR application is further categorized into consumer, commercial, aerospace and defense, enterprise, healthcare, and others. Among these categories, the consumer application accounted for the largest share of the market. Further, VR application is also categorized into consumer, commercial, aerospace and defense, enterprise, healthcare, and others. Among these categories, the commercial application accounted for the largest share of the market.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 28.2 Billion |
Revenue Forecast in 2030 |
U.S.D. 165.3 Billion |
Growth Rate |
50.6% |
Segments Covered in the Report |
By Component, By Device Type and By Application |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Introduction of gaming consoles by major players such as Sony Corporation and Google, mobile applications, and the development of novice virtual and augmented reality-based devices are some of the major trends observed in the AR and VR market across the globe. Moreover, easy and versatile utilization of these devices along with a high degree of mobility and flexibility are the key factors that are pertaining to the growth of the AR and VR market across the globe.
Mixed Reality (MR): The convergence of AR and VR, enabling seamless interactions between virtual and real-world objects.
5G Connectivity: The deployment of 5G networks will facilitate faster data transmission, reduced latency, and improved AR and VR experiences.
Enterprise Applications: Increased adoption of AR and VR in various enterprise sectors, such as training, remote collaboration, and product visualization.
Social AR/VR: The integration of social media platforms with AR and VR technologies, enabling users to interact and share experiences in virtual environments.
Healthcare and Medical Applications: The use of AR and VR for medical training, surgical planning, therapy, and rehabilitation.
The Global augmented reality and virtual reality market has been driven by several key factors, predominantly rapid growth in the adoption of tablet computers and smartphones, technological development, excessive concentration of major tech players in the AR and VR system along with extensive mobility and versatility. It has been observed that AR and VR systems are becoming accessible to consumers through various mediums such as platforms and devices. Furthermore, smartphones are extensively being utilized as input expedients for monitoring the VR situation, especially for virtual reality gaming applications.
Moreover, the increasing penetration of smartphones and tablet computers is extensively contributing to the growth of the augmented reality and virtual reality market across the globe. The tablet-based and mobile-based AR and VR technology is observing rapid application from the key players operating in education, interior designing, e-commerce, architecture, and furnishing. These factors are thereby attributing to the rapid growth of the AR and VR market globally.
Key factors hindering the growth of the augmented reality and virtual reality market are the progression of user-friendly VR systems along with alarming health concerns due to the use of AR and VR technology. Certain health concerns that are observed from the use of this system include motion sickness, eyestrain, and nausea which are usually drastic for health for a longer lifespan due to the prolonged effect on the eyes. Moreover, due to these health impacts, the demand for AR and VR technology is impacting in a negative manner.
Globally industry players in the global AR and VR market are leveraging market growth through mergers and acquisitions, technological developments, and strategic developments. The rapid development of new products is thereby fueling the demand for AR and VR market globally. For instance, Samsung along with Oculus VR has recently developed virtual reality devices for extensive utilization of huge mass along with key smartphone players. These accomplishments are thereby exaggerating the growth of the AR and VR market across the globe.
Asia-Pacific is observed to witness significant growth in the global augmented reality and virtual reality market during the forecast period. The growth of this market is attributed to increasing investment in defense and commercial domains in this region. The existence of a large number of display board industrialists along with technological enhancements is the key factor bolstering the growth of the AR and VR market. Furthermore, accentuating growth in the automotive and healthcare domain in a country such as Japan is expected to further drive the growth of the AR and VR market in the near future.
Global Augmented Reality and Virtual Reality Market, By Region
Market players in the global augmented reality and virtual reality industry are leveraging market growth through mergers and acquisitions, technological developments, and strategic developments. These players are also launching new products to cater to the demand of different organizations. For instance, Samsung along with Oculus VR has recently developed virtual reality devices for extensive utilization of huge mass along with key smartphone players.
Some of the key players operating in the global augmented reality and virtual reality market are Alphabet Inc., Oculus VR, LLC, Microsoft Corporation, Qualcomm Technologies Inc., Intel Corporation, Himax Technologies Inc., Samsung Electronics Co. Ltd., PTC Inc., and Sony Corporation.
Qualcomm has announced a new chip design for virtual reality (VR) and augmented reality (AR) which is been used by Google and Samsung to create VR and AR experiences. The new chip shall allow these companies to better compete with Apple Inc.and Meta Platforms Inc. This version of the chip is equipped with artificial intelligence, higher graphics processing and camera capabilities, with other enhancements.
The global Augmented Reality (AR) and Virtual Reality (VR) Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
Source: VynZ Research
Source: VynZ Research
1. Research Overview
1.1. The Report Offers
1.2. Market Coverage
1.2.1. By Component
1.2.2. By Device Type
1.2.3. By Application
1.2.4. By Region
1.3. Research Phases
1.4. Limitations
1.5. Market Methodology
1.5.1. Data Sources
1.5.1.1. Primary Research
1.5.1.2. Secondary Research
1.5.2. Methodology
1.5.2.1. Data Exploration
1.5.2.2. Forecast Parameters
1.5.2.3. Data Validation
1.5.2.4. Assumptions
1.5.3. Study Period & Data Reporting Unit
2. Executive Summary
3. Industry Overview
3.1. Industry Dynamics
3.1.1. Market Growth Drivers
3.1.2. Market Restraints
3.1.3. Key Market Trends
3.1.4. Major Opportunities
3.2. Industry Ecosystem
3.2.1. Porter’s Five Forces Analysis
3.2.2. Recent Development Analysis
3.2.3. Value Chain Analysis
3.3. Competitive Insight
3.3.1. Competitive Position of Industry Players
3.3.2. Market Attractive Analysis
3.3.3. Market Share Analysis
4. Global Market Estimate and Forecast
4.1. Global Market Overview
4.2. Global Market Estimate and Forecast to 2030
5. Market Segmentation Estimate and Forecast
5.1. By Component
5.1.1. Hardware
5.1.1.1. Market Definition
5.1.1.2. Market Estimation and Forecast to 2030
5.1.2. Software
5.1.2.1. Market Definition
5.1.2.2. Market Estimation and Forecast to 2030
5.2. By Device Type
5.2.1. AR Devices
5.2.1.1. Market Definition
5.2.1.2. Market Estimation and Forecast to 2030
5.2.2. VR Devices
5.2.2.1. Market Definition
5.2.2.2. Market Estimation and Forecast to 2030
5.3. By Application
5.3.1. AR Applications
5.3.1.1. Market Definition
5.3.1.2. Market Estimation and Forecast to 2030
6. North America Market Estimate and Forecast
6.1. By Component
6.2. By Device
6.3. By Application
6.4. By Country
6.4.1. U.S. Market Estimate and Forecast
6.4.2. Canada Market Estimate and Forecast
6.4.3. Mexico Market Estimate and Forecast
7. Europe Market Estimate and Forecast
7.1. By Component
7.2. By Device
7.3. By Application
7.4. By Country
7.4.1. Germany Market Estimate and Forecast
7.4.2. France Market Estimate and Forecast
7.4.3. U.K. Market Estimate and Forecast
7.4.4. Italy Market Estimate and Forecast
7.4.5. Spain Market Estimate and Forecast
7.4.6. Rest of Europe Market Estimate and Forecast
8. Asia-Pacific Market Estimate and Forecast
8.1. By Component
8.2. By Device
8.3. By Application
8.4. By Country
8.4.1. China Market Estimate and Forecast
8.4.2. Japan Market Estimate and Forecast
8.4.3. India Market Estimate and Forecast
8.4.4. South Korea Market Estimate and Forecast
8.4.5. Singapore Market Estimate and Forecast
8.4.6. Rest of Asia-Pacific Market Estimate and Forecast
9. Rest of the World (RoW) Market Estimate and Forecast
9.1. By Component
9.2. By Device
9.3. By Application
9.4. By Country
9.4.1. Brazil Market Estimate and Forecast
9.4.2. Saudi Arabia Market Estimate and Forecast
9.4.3. South Africa Market Estimate and Forecast
9.4.4. Other Countries Market Estimate and Forecast
10. Company Profiles
10.1. Alphabet Inc.
10.1.1. Snapshot
10.1.2. Overview
10.1.3. Offerings
10.1.4. Financial Insight
10.1.5. Recent Developments
10.2. Microsoft Corporation
10.2.1. Snapshot
10.2.2. Overview
10.2.3. Offerings
10.2.4. Financial Insight
10.2.5. Recent Developments
10.3. Oculus VR, LLC
10.3.1. Snapshot
10.3.2. Overview
10.3.3. Offerings
10.3.4. Financial Insight
10.3.5. Recent Developments
10.4. Qualcomm Technologies Inc.
10.4.1. Snapshot
10.4.2. Overview
10.4.3. Offerings
10.4.4. Financial Insight
10.4.5. Recent Developments
10.5. Intel Corporation
10.5.1. Snapshot
10.5.2. Overview
10.5.3. Offerings
10.5.4. Financial Insight
10.5.5. Recent Developments
10.6. Himax Technologies Inc.
10.6.1. Snapshot
10.6.2. Overview
10.6.3. Offerings
10.6.4. Financial Insight
10.6.5. Recent Developments
10.7. Samsung Electronics Co. Ltd.
10.7.1. Snapshot
10.7.2. Overview
10.7.3. Offerings
10.7.4. Financial Insight
10.7.5. Recent Developments
10.8. Seiko Epson Corporation
10.8.1. Snapshot
10.8.2. Overview
10.8.3. Offerings
10.8.4. Financial Insight
10.8.5. Recent Developments
10.9. PTC Inc.
10.9.1. Snapshot
10.9.2. Overview
10.9.3. Offerings
10.9.4. Financial Insight
10.9.5. Recent Developments
10.10. Vuzix Corporation
10.10.1. Snapshot
10.10.2. Overview
10.10.3. Offerings
10.10.4. Financial Insight
10.10.5. Recent Developments
10.11. Sony Corporation
10.11.1. Snapshot
10.11.2. Overview
10.11.3. Offerings
10.11.4. Financial Insight
10.11.5. Recent Developments
10.12. Osterhout Design Group (ODG) Inc.
10.12.1. Snapshot
10.12.2. Overview
10.12.3. Offerings
10.12.4. Financial Insight
10.12.5. Recent Developments
10.13. Wikitude GmbH
10.13.1. Snapshot
10.13.2. Overview
10.13.3. Offerings
10.13.4. Financial Insight
10.13.5. Recent Developments
10.14. Marxent Labs LLC
10.14.1. Snapshot
10.14.2. Overview
10.14.3. Offerings
10.14.4. Financial Insight
10.14.5. Recent Developments
10.15. Blippar
10.15.1. Snapshot
10.15.2. Overview
10.15.3. Offerings
10.15.4. Financial Insight
10.15.5. Recent Developments
10.16. Meta Company
10.16.1. Snapshot
10.16.2. Overview
10.16.3. Offerings
10.16.4. Financial Insight
10.16.5. Recent Developments
10.17. Daqri LLC
10.17.1. Snapshot
10.17.2. Overview
10.17.3. Offerings
10.17.4. Financial Insight
10.17.5. Recent Developments
10.18. Leap Motion, Inc.
10.18.1. Snapshot
10.18.2. Overview
10.18.3. Offerings
10.18.4. Financial Insight
10.18.5. Recent Developments
10.19. EON Reality
10.19.1. Snapshot
10.19.2. Overview
10.19.3. Offerings
10.19.4. Financial Insight
10.19.5. Recent Developments
10.20. Visteon Corporation
10.20.1. Snapshot
10.20.2. Overview
10.20.3. Offerings
10.20.4. Financial Insight
10.20.5. Recent Developments
10.21. Zugara
10.21.1. Snapshot
10.21.2. Overview
10.21.3. Offerings
10.21.4. Financial Insight
10.21.5. Recent Developments
11. Appendix
11.1. Exchange Rates
11.2. Abbreviations
Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.
List of Tables
Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Augmented Reality and Virtual Reality Market Size, By Component, 2018 - 2023 (USD Billion)
Table 5 Global Augmented Reality and Virtual Reality Market Size, By Component, 2025 - 2030 (USD Billion)
Table 6 Global Augmented Reality and Virtual Reality Market Size, By Device Type, 2018 - 2023 (USD Billion)
Table 7 Global Augmented Reality and Virtual Reality Market Size, By Device Type, 2025 - 2030 (USD Billion)
Table 8 Global Augmented Reality and Virtual Reality Market Size, By Application, 2018 - 2023 (USD Billion)
Table 9 Global Augmented Reality and Virtual Reality Market Size, By Application, 2025 - 2030 (USD Billion)
Table 10 Global Augmented Reality and Virtual Reality Market Size, by Region, 2018 - 2023 (USD Billion)
Table 11 Global Augmented Reality and Virtual Reality Market Size, by Region, 2025 - 2030 (USD Billion)
Table 12 North America Augmented Reality and Virtual Reality Market Size, By Component, 2018 - 2023 (USD Billion)
Table 13 North America Augmented Reality and Virtual Reality Market Size, By Component, 2025 - 2030 (USD Billion)
Table 14 North America Augmented Reality and Virtual Reality Market Size, By Device Type, 2018 - 2023 (USD Billion)
Table 15 North America Augmented Reality and Virtual Reality Market Size, By Device Type, 2025 - 2030 (USD Billion)
Table 16 North America Augmented Reality and Virtual Reality Market Size, By Application, 2018 - 2023 (USD Billion)
Table 17 North America Augmented Reality and Virtual Reality Market Size, By Application, 2025 - 2030 (USD Billion)
Table 18 North America Augmented Reality and Virtual Reality Market Size, by Region, 2018 - 2023 (USD Billion)
Table 19 North America Augmented Reality and Virtual Reality Market Size, by Region, 2025 - 2030 (USD Billion)
Table 20 Europe Augmented Reality and Virtual Reality Market Size, By Component, 2018 - 2023 (USD Billion)
Table 21 Europe Augmented Reality and Virtual Reality Market Size, By Component, 2025 - 2030 (USD Billion)
Table 22 Europe Augmented Reality and Virtual Reality Market Size, By Device Type, 2018 - 2023 (USD Billion)
Table 23 Europe Augmented Reality and Virtual Reality Market Size, By Device Type, 2025 - 2030 (USD Billion)
Table 24 Europe Augmented Reality and Virtual Reality Market Size, By Application, 2018 - 2023 (USD Billion)
Table 25 Europe Augmented Reality and Virtual Reality Market Size, By Application, 2025 - 2030 (USD Billion)
Table 26 Europe Augmented Reality and Virtual Reality Market Size, by Region, 2018 - 2023 (USD Billion)
Table 27 Europe Augmented Reality and Virtual Reality Market Size, by Region, 2025 - 2030 (USD Billion)
Table 28 Asia-Pacific Augmented Reality and Virtual Reality Market Size, By Component, 2018 - 2023 (USD Billion)
Table 29 Asia-Pacific Augmented Reality and Virtual Reality Market Size, By Component, 2025 - 2030 (USD Billion)
Table 30 Asia-Pacific Augmented Reality and Virtual Reality Market Size, By Device Type, 2018 - 2023 (USD Billion)
Table 31 Asia-Pacific Augmented Reality and Virtual Reality Market Size, By Device Type, 2025 - 2030 (USD Billion)
Table 32 Asia-Pacific Augmented Reality and Virtual Reality Market Size, By Application, 2018 - 2023 (USD Billion)
Table 33 Asia-Pacific Augmented Reality and Virtual Reality Market Size, By Application, 2025 - 2030 (USD Billion)
Table 34 Asia-Pacific Augmented Reality and Virtual Reality Market Size, by Region, 2018 - 2023 (USD Billion)
Table 35 Asia-Pacific Augmented Reality and Virtual Reality Market Size, by Region, 2025 - 2030 (USD Billion)
Table 36 RoW Augmented Reality and Virtual Reality Market Size, By Component, 2018 - 2023 (USD Billion)
Table 37 RoW Augmented Reality and Virtual Reality Market Size, By Component, 2025 - 2030 (USD Billion)
Table 38 RoW Augmented Reality and Virtual Reality Market Size, By Device Type, 2018 - 2023 (USD Billion)
Table 39 RoW Augmented Reality and Virtual Reality Market Size, By Device Type, 2025 - 2030 (USD Billion)
Table 40 RoW Augmented Reality and Virtual Reality Market Size, By Application, 2018 - 2023 (USD Billion)
Table 41 RoW Augmented Reality and Virtual Reality Market Size, By Application, 2025 - 2030 (USD Billion)
Table 42 RoW Augmented Reality and Virtual Reality Market Size, by Region, 2018 - 2023 (USD Billion)
Table 43 RoW Augmented Reality and Virtual Reality Market Size, by Region, 2025 - 2030 (USD Billion)
Table 44 Snapshot – Boehringer Ingelheim International GmbH
Table 45 Snapshot – Alphabet Inc.
Table 46 Snapshot – Microsoft Corporation
Table 47 Snapshot – Oculus VR, LLC
Table 48 Snapshot – Qualcomm Technologies Inc.
Table 49 Snapshot – Intel Corporation
Table 50 Snapshot – Himax Technologies Inc.
Table 51 Snapshot – Samsung Electronics Co. Ltd.
Table 52 Snapshot – Seiko Epson Corporation
Table 53 Snapshot – PTC Inc.
Table 54 Snapshot – Vuzix Corporation
Table 55 Snapshot – Sony Corporation
Table 56 Snapshot – Osterhout Design Group (ODG) Inc.
Table 57 Snapshot – Wikitude GmbH
Table 58 Snapshot – Marxent Labs LLC
Table 59 Snapshot – Blippar
Table 60 Snapshot – Meta Company
Table 61 Snapshot – Daqri LLC
Table 62 Snapshot – Leap Motion, Inc.
Table 63 Snapshot – EON Reality
Table 64 Snapshot – Visteon Corporation
Table 65 Snapshot – Zugara
List of Figures
Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Augmented Reality and Virtual Reality Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Augmented Reality and Virtual Reality Market Highlight
Figure 12 Global Augmented Reality and Virtual Reality Market Size, By Service, 2018 - 2030 (USD Billion)
Figure 13 Global Augmented Reality and Virtual Reality Market Size, By Device Type, 2018 - 2030 (USD Billion)
Figure 14 Global Augmented Reality and Virtual Reality Market Size, By Application, 2018 - 2030 (USD Billion)
Figure 15 Global Augmented Reality and Virtual Reality Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 16 North America Augmented Reality and Virtual Reality Market Highlight
Figure 17 North America Augmented Reality and Virtual Reality Market Size, By Service, 2018 - 2030 (USD Billion)
Figure 18 North America Augmented Reality and Virtual Reality Market Size, By Device Type, 2018 - 2030 (USD Billion)
Figure 19 North America Augmented Reality and Virtual Reality Market Size, By Application, 2018 - 2030 (USD Billion)
Figure 20 North America Augmented Reality and Virtual Reality Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 21 Europe Augmented Reality and Virtual Reality Market Highlight
Figure 22 Europe Augmented Reality and Virtual Reality Market Size, By Service, 2018 - 2030 (USD Billion)
Figure 23 Europe Augmented Reality and Virtual Reality Market Size, By Device Type, 2018 - 2030 (USD Billion)
Figure 24 Europe Augmented Reality and Virtual Reality Market Size, By Application, 2018 - 2030 (USD Billion)
Figure 25 Europe Augmented Reality and Virtual Reality Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 26 Asia-Pacific Augmented Reality and Virtual Reality Market Highlight
Figure 27 Asia-Pacific Augmented Reality and Virtual Reality Market Size, By Service, 2018 - 2030 (USD Billion)
Figure 28 Asia-Pacific Augmented Reality and Virtual Reality Market Size, By Device Type, 2018 - 2030 (USD Billion)
Figure 29 Asia-Pacific Augmented Reality and Virtual Reality Market Size, By Application, 2018 - 2030 (USD Billion)
Figure 30 Asia-Pacific Augmented Reality and Virtual Reality Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 31 RoW Augmented Reality and Virtual Reality Market Highlight
Figure 32 RoW Augmented Reality and Virtual Reality Market Size, By Service, 2018 - 2030 (USD Billion)
Figure 33 RoW Augmented Reality and Virtual Reality Market Size, By Device Type, 2018 - 2030 (USD Billion)
Figure 34 RoW Augmented Reality and Virtual Reality Market Size, By Application, 2018 - 2030 (USD Billion)
Figure 35 RoW Augmented Reality and Virtual Reality Market Size, by Region, 2018 - 2030 (USD Billion)
Global AR and VR Market Coverage
Component Insight and Forecast 2025-2030
Device Insight and Forecast 2025-2030
Application Insight and Forecast 2025-2030
Geographical Segmentation
AR and VR Market by Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa (MEA)
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