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Below are some of the key findings from our analysis of the AR and VR gear market
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The global augmented reality (AR) and virtual reality (VR) gear market research predicts the market to grow rapidly and post a CAGR of more than 37% during the forecast period. The use of AR technology for effective advertising will be a major AR and VR gear market driver in the next four years. One of the major factors responsible for the increasing adoption of AR is its ability to create opportunities for users and brands to connect with the product on a real-time basis, which, in turn, drives the purchase rate. The AR allows the customers to find the best fit by providing necessary information about any product. Furthermore, the trend for mobile advertising is increasing with the growing dependence of consumers on smartphones and tablets to carry out numerous PC functions and reach a wider and larger audience.
In terms of geography, the Americas accounted for the maximum AR and VR gear market share during 2016 and will continue to dominate the market until the end of 2021. One of the major factors responsible for the market’s growth in the region is the increased spending by the US on the defense sector and in AR and VR to have a strong base of advanced warfare gadgets. Also, it has been observed that since consumers in the US are willing to try multiple products, the rate of technology adoption is increasing.
The global augmented reality (AR) and virtual reality (VR) gear market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors are increasingly focusing on gaining the confidence of their customers. Also, they are emphasizing on the development of innovative products to expand their product portfolio and customer base.
The report offers a detailed analysis of several leading companies, including:
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The consumer's segment accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. One of the major factors responsible for the market segment’s growth is the large share of VR cardboards and an increased adoption of VR cardboards since they are easily available and inexpensive.
The VR cardboards segment accounted for the maximum market share during 2016 because these gadgets do not require any separate material and can be made from sturdy cardboard. However, the revenue generated by VR cardboards is expected to decline significantly by the end of the forecast period.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Technology life cycle
PART 07: Market landscape
PART 08: Market segmentation by technology
PART 09: Market segmentation by product
PART 10: Market segmentation by end-user
PART 11: Geographical segmentation
PART 12: Market drivers
PART 13: Impact of drivers
PART 14: Market challenges
PART 15: Impact of drivers and challenges
PART 16: Market trends
PART 17: Vendor landscape
PART 18: Appendix
PART 19: Explore Technavio
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