Augmented Reality and Virtual Reality Market

Augmented Reality and Virtual Reality Market with COVID-19 Impact Analysis by Offering (Hardware & Software), Device Type (HMD, HUD, Gesture Tracking), Application (Enterprise, Consumer, Commercial, Healthcare), and Geography - Global Forecast to 2025

Report Code: SE 2288 Nov, 2020, by marketsandmarkets.com

[337 Pages Report] According to MarketsandMarkets, the augmented reality (AR) market is projected to grow from USD 15.3 billion in 2020 to USD 77.0 billion by 2025; it is expected to grow at a CAGR of 38.1% from 2020 to 2025. The virtual reality (VR) market is projected to grow from USD 6.1 billion in 2020 to USD 20.9 billion by 2025; it is expected to grow at a CAGR of 27.9% from 2020 to 2025. The increasing demand for AR devices and applications in healthcare, rising investments in AR market, and growing demand for AR in retail and e-commerce sectors due to COVID-19 are the key factors driving the AR market growth. The availability of affordable VR devices, growing adoption of HMDs in different industries, advancement of technologies and growing digitization, penetration of HMDs in gaming and entertainment sectors after COVID-19, and high investments in VR market are the key factors driving the VR market growth.

The objective of the report is to define, describe, and forecast the augmented reality and virtual reality market based on technology, offering, device type, application, and region.

Augmented Reality and Virtual Reality Market

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Impact of COVID-19 on current augmented reality and virtual reality market size and forecast

The COVID-19 pandemic is expected to positively impact the growth of the AR and VR market for the healthcare application, as AR VR HMDs are expected to be majorly adopted by medical professionals as protective gear in the near future. COVID-19 has negatively impacted the supply chain of the market due to lockdowns and low cross-border trade. Due to the COVID-19 pandemic, the global consumer market for AR & VR is expected to witness sluggish growth in the coming years. The shutdown of consumer markets worldwide has affected the sale of products such as HMDs and projectors. However, the market for VR is expected to regain its complete momentum by 2023.

Augmented Reality and Virtual Reality Market Dynamics

Driver : Increasing demand for AR devices and applications in healthcare

AR plays an important role in the healthcare sector. AR can be used to provide a virtual view of a patient, in which a surgeon can see the condition of the patient’s body parts. This can help the surgeon to conduct minimally invasive surgeries. The use of AR modeling and 3D visualization is expected to help the healthcare sector. The use of AR for improving fitness, teaching complex subjects to medical students, training doctors, managing pharmacy, and caring and supporting patients after they leave the hospital is driving the growth of the AR market in this sector.

Restraint: Limited user interface affecting navigation performance of AR apps
Security and privacy issues associated with AR

Security and privacy issues are the major challenges faced by the AR industry. These issues have emerged due to the inconsistencies in AR programming and negligence and oversight of both the developers and end users of AR apps and devices. Few AR applications do not have capabilities to secure user identity and privacy. The primary issue is that there are no regulations that define the dos and don’ts associated with the AR environment. This implies that AR technology can incorporate malicious intent and lead to users’ misuse of personal information. For instance, the try-before-you-buy concept for clothing retailers can be misused. If the concept is not secured well, it can be hijacked. The hacker can overlay a nude body image instead of clothes, which can harm the user’s reputation. An unsafe try-before-you-buy app can be manipulated, which is a major factor restraining such apps’ growth in the retail clothing sector.

Opportunity : Rise in demand for AR in architecture

The increasing demand for AR in architecture would be a major opportunity for the AR market’s growth. AR can be used to project digital information on architectural models. It can also be used to experience a building’s interior even when the design of the building is in its initial stages. This will help the architects get an image of the project from the screen to the physical space. Streamlining of the construction process is another application in the construction industry using AR. In architecture, AR systems are used for interior design applications, through which a user can transform 2D drawings into 3D physical models and digital simulations. The AR-based architecture applications help users to choose accurate models and designs before construction by looking at their 3D representation. Using these applications, users can rearrange designs and floorings in a building. They can create and analyze a detailed model to evaluate their designs based on sun exposure, cast shadows, wind pattern, and traffic congestion. Head-mounted displays can be used for site surveying and determining the location of underground cables. They can also be used as a visualization tool to track how the building would respond to the surroundings.

Challenge : Display latency and limited field of view

The major challenge faced by these AR manufacturers is to provide a wide field of view (FOV). The field of view is defined as the extent of the observable world at any given moment. Ideally, a human eye has a visual field of ~200° horizontally and 135° vertically; though, currently, AR and VR are capable of providing a FOV of up to 90°. For AR devices to create immersive experiences, they must capture as much of the FOV as possible. Another major challenge for the AR device and application manufacturers is to offer low latency displays. The errors caused by latency often lead to image lagging, thus posing a major challenge for the AR device and application manufacturers. While playing a game, high input lag makes the gameplay feel sluggish and unresponsive. A lower input lag level allows gamers to enjoy a seamless control experience, as movements on the screen respond instantly to the commands. This has been one of the biggest technical challenges faced by AR manufacturers. All possible systems are bound to have some threshold latency, which comes from the content frame rate, the display’s refresh rate, and input lag. Furthermore, these devices are largely being adopted by healthcare and aerospace & defense applications, where any late response would have catastrophic results.

AR & VR Ecosystem

Augmented Reality and Virtual Reality Market

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Semi- and fully immersive technology to play a significant role in the growth of augmented reality and virtual reality market

Most companies are focused on developing immersive video games for users. VR headsets allow users to interact with the virtual world. The increasing demand for semi- and fully immersive VR devices results from enhancements in computing and electronic networking systems. Also, innovations—such as fully immersive VR technology-enabled HMDs that provide a 360° field of view and high resolution to a user—are expected to drive the growth of this market.

Software to play a significant role in the growth of augmented reality and virtual reality market

The AR & VR market for software has witnessed high growth in recent years and is set to lead the AR & VR market for the next 5 years owing to the trend of VR content creation and AR gaming. The mass consumerization would help achieve widespread adoption of AR and VR. Delays in the launching of new AR & VR hardware, coupled with a decline in the sale of AR & VR hardware, has negatively impacted the revenue growth of the AR & VR software market. However, the increasing need for maintaining social distancing to curb the spread of the virus is expected to increase the adoption of AR & VR technologies and create growth opportunities for AR & VR software providers in the retail, consumer, education, and enterprise sectors.

Commercial application expected to grow at a high CAGR in the augmented reality and virtual reality market

There has been a constant evolution over the decades in the way goods and services are promoted and marketed. Technological advancements have changed the traditional methods of marketing and promotion. The advent of the Internet and smartphones, combined with content-based technologies, e.g., AR, has helped enhance marketing activities. Using AR, a buyer can compare the products by superimposing virtual images in the real world. This not only helps the buyers in the decision-making process but is also convenient for sellers. The enhanced buying experience is beneficial for the entire retail industry segment.AR tags can be scanned using AR-enabled smartphones, which not only display the advertisement but also create an interactive environment for the users. By clicking the image or I con, the users can examine and purchase the products through their smartphones or tablets. Such advantages are the major reason for the heavy penetration of AR technology in the marketing and promotion segment.

APAC is expected to lead the augmented reality and virtual reality market and is projected to grow at the highest CAGR from 2020 to 2025

Being an emerging economy, APAC is witnessing major changes in the adoption of new technologies and advancements. Due to the presence of a number of display panel manufacturers in the region, APAC witnesses an increasing adoption of the latest technologies. The AR & VR market in APAC is expected to grow at a high rate in sectors such as healthcare, commercial, and consumer. The increasing number of players in the region is projected to boost the growth of the AR & VR market. The high growth in commercial and consumer markets is the major factor driving the growth of the AR & VR market in APAC. Growing consumer and commercial markets with increasing investments in countries such as Japan, India, and China are expected to boost the growth of the AR & VR market in APAC.

Augmented Reality and Virtual Reality Market  by Region

Key Market Players

Major vendors in the augmented reality and virtual reality market include Google (US), PTC (US), Apple (US), Sony (Japan), Samsung Electronics (South Korea), Microsoft (US), HTC (Taiwan), Oculus (US), Seiko Epson (Japan), Lenovo (China), Wikitude (Austria), Magic Leap (US), Blippar (UK), Upskill (US), MAXST (South Korea), EON Reality (US), Vuzix (US), CyberGlove Systems (US), Leap Motion (US), and Sixense Enterprises (US)

Scope of the Report:

Report Metric

Detail

Market size available for years

2016—2025

Base year

2019

Forecast period

2020—2025

Units

Value (USD Million/Thousand)

Segments covered

Technology, Offering, Device Type, Application, and Geography

Geographic regions covered

North America, Europe, APAC, and RoW

Companies covered

Google (US), Sony (Japan), Apple (US), Samsung Electronics (South Korea), Microsoft (US), HTC (Taiwan), Oculus (US), PTC (US), Seiko Epson (Japan), Lenovo (China), Wikitude (Austria), Magic Leap (US), Blippar (UK), Upskill (US), MAXST (South Korea), EON Reality (US), Vuzix (US), CyberGlove Systems (US), Leap Motion (US), Atheer (US), Sixense Enterprises (US), Nintendo (Japan), Psious (Spain), Marxent Labs (US), Inglobe Technologies (Italy), Meta Company (US), Niantic (US), Augment (France), Mindmaze (Switzerland), Firsthand Technology (US), Worldviz (US), Virtuix (US), Survios (US), Intel (US), RealWear (US), Merge Labs (US), SpaceVR (US), Virtually Live (Switzerland), Xiaomi (China), Panasonic (Japan), Dynabook Americas (US), Optinvent (France), WayRay (Switzerland), Scope AR (US), Continental (Germany), Visteon (US), Talespin (US), Craftars (Romania), Scanta (US), Appentus Technologies (India), and BIDON Games Studio (Ukraine).

This report categorizes the augmented reality and virtual reality market based on type, offering, device type, application, and geography.

Augmented Reality and Virtual Reality Market, by Technology:

  • Augmented Reality
    • Marker-based (Passive Marker, Active Marker)
    • Markerless (Model-based, Image Processing-based)
    • Anchor-based
  • Virtual Reality
    • Nonimmersive
    • Semi- and Fully Immersive

Augmented Reality and Virtual Reality Market, by Offering:

  • Hardware
    • Sensors
    • Semiconductor Components
    • Displays and Projectors
    • Position Trackers
    • Cameras
    • Others (Computer/video generator and combiner)
  • Software
    • Software Development Kits
    • Cloud-Based Services
    • AR Software Functions
    • VR Content Creation

Augmented Reality and Virtual Reality Market, by Device Type:

  • Augmented Reality
  • Head-mounted Displays
  • Head-up Displays
  • Virtual Reality
  • Head-mounted Displays
  • Gesture-tracking Devices
  • Projectors and Display Walls

Augmented Reality and Virtual Reality Market, by Application:

  • Augmented Reality
    • Consumer (Gaming, Sports & Entertainment)
    • Aerospace & Defense
    • Healthcare (Surgery, Patient Care Management, Fitness Management, Pharmacy Management, Medical Training and Education)
    • Commercial (Tourism & Sight-seeing, E-learning, E-commerce & Marketing)
    • Enterprise (Manufacturing)
    • Energy
    • Automotive
    • Others (Agriculture, Construction, Transportation & Logistics, Public Safety)
  • Virtual Reality
    • Consumer (Gaming and Entertainment, Sports)
    • Commercial (Retail and Ecommerce, Education and Training, Travel and Tourism, Advertising)
    • Enterprise (Manufacturing)
    • Healthcare (Surgery, Patient Care Management, Fitness Management, Pharmacy Management, Medical Training and Education)
    • Aerospace & Defense
    • Others (Automotive, Real Estate, Geospatial Mining)

Augmented Reality and Virtual Reality Market, by Geography:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Rest of Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Rest of APAC
  • RoW
    • Middle East & Africa
    • South America

Recent Developments

  • In March 2020, Epson America, Inc., a division of Seiko Epson Corporation of Japan, partnered with 3D HoloGroup (US), a company which specializes in AR software architecture and systems integration, to sell Epson’s AR glasses.
  • In June 2019, PTC acquired TWNKLS (Netherlands), a supplier of practical AR solutions for Industry 4.0, to accelerate the development of AR enterprise apps.
  • In May 2019, Microsoft launched the second-gen HoloLens, the HoloLens 2. The HoloLens 2 complete set includes free trials of Unity Pro, Azure credits, and the Unity PiXYZ Plugin for CAD data. The company also announced the Unreal Engine 4 support for HoloLens 2, which will leverage customers with a more realistic experience.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 41)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
    1.3 INCLUSIONS AND EXCLUSIONS
    1.4 STUDY SCOPE
           1.4.1 MARKETS COVERED
                    FIGURE 1 MARKET SEGMENTATION
                    FIGURE 2 MARKET SEGMENTATION
           1.4.2 YEARS CONSIDERED
    1.5 CURRENCY
    1.6 PACKAGE SIZE
    1.7 STAKEHOLDERS
    1.8 SUMMARY OF CHANGES DONE

2 RESEARCH METHODOLOGY (Page No. - 46)
    2.1 RESEARCH DATA
                    FIGURE 3 AR AND VR MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
                    FIGURE 4 AR MARKET: RESEARCH DESIGN
                    FIGURE 5 VR MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primaries
                    2.1.2.2 Key industry insights
    2.2 MARKET SIZE ESTIMATION
           FIGURE 6 AR & VR MARKET: RESEARCH METHODOLOGY
           FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for capturing market share by bottom-up analysis (demand side)
                               FIGURE 8 AR & VR MARKET: BOTTOM-UP APPROACH
                               FIGURE 9 MARKET SIZE CALCULATION BY BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for capturing market share by top-down analysis (supply side)
                               FIGURE 10 AR & VR MARKET: TOP-DOWN APPROACH
                               FIGURE 11 MARKET SIZE CALCULATION BY TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 12 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
           FIGURE 13 ASSUMPTIONS OF THE RESEARCH STUDY

3 EXECUTIVE SUMMARY (Page No. - 59)
    FIGURE 14 AUGMENTED REALITY MARKET, 2016–2025 (USD MILLION)
    FIGURE 15 VIRTUAL REALITY MARKET, 2016–2025 (USD MILLION)
    FIGURE 16 HEAD-MOUNTED DISPLAYS TO HOLD LARGEST SHARE OF VIRTUAL REALITY MARKET IN 2020
    FIGURE 17 CONSUMER APPLICATION TO LEAD VIRTUAL REALITY MARKET FROM 2020 TO 2025
    FIGURE 18 NORTH AMERICA TO LEAD THE AUGMENTED REALITY MARKET IN 2020
    3.1 COVID-19 IMPACT ON AUGMENTED REALITY AND VIRTUAL REALITY MARKET
           FIGURE 19 COVID-19 IMPACT ON AUGMENTED REALITY MARKET
           FIGURE 20 COVID-19 IMPACT ON VIRTUAL REALITY MARKET
           3.1.1 REALISTIC SCENARIO (POST-COVID-19)
           3.1.2 OPTIMISTIC SCENARIO (POST-COVID-19)
           3.1.3 PESSIMISTIC SCENARIO (POST-COVID-19)

4 PREMIUM INSIGHTS (Page No. - 66)
    4.1 ATTRACTIVE OPPORTUNITIES IN AUGMENTED REALITY MARKET
           FIGURE 21 GROWING DEMAND FOR AR IN HEALTHCARE AND ENTERPRISE APPLICATIONS TO DRIVE MARKET GROWTH DURING FORECAST PERIOD
    4.2 ATTRACTIVE MARKET OPPORTUNITIES IN VIRTUAL REALITY MARKET
           FIGURE 22 GROWING USE IN CONSUMER APPLICATIONS OF VIRTUAL REALITY TO DRIVE MARKET GROWTH DURING FORECAST PERIOD
    4.3 VIRTUAL REALITY MARKET IN APAC, BY APPLICATION AND COUNTRY
           FIGURE 23 CONSUMER APPLICATION AND CHINA TO HOLD LARGEST SHARE OF VIRTUAL REALITY MARKET IN APAC BY 2025
    4.4 VIRTUAL REALITY MARKET: DEVELOPED VS. DEVELOPING MARKETS, 2020 AND 2025 (USD MILLION)
           FIGURE 24 US TO LEAD VR MARKET BY 2025
    4.5 VIRTUAL REALITY MARKET, BY COUNTRY
           FIGURE 25 VIRTUAL REALITY MARKET TO GROW AT HIGHEST CAGR IN CHINA DURING FORECAST PERIOD
    4.6 AUGMENTED REALITY MARKET, BY REGION
           FIGURE 26 MARKET IN APAC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 69)
    5.1 INTRODUCTION
    5.2 HISTORY AND EVOLUTION OF AR & VR TECHNOLOGY
           FIGURE 27 EVOLUTION OF AR AND VR TECHNOLOGIES
    5.3 MARKET DYNAMICS: AR MARKET
           FIGURE 28 DEMAND FOR AR APPLICATIONS IN HEALTHCARE AND RETAIL SECTORS TO DRIVE MARKET GROWTH
           5.3.1 DRIVERS
                    5.3.1.1 Increasing demand for AR devices and applications in healthcare
                    5.3.1.2 Growing demand for AR in retail and e-commerce sectors due to COVID-19
                               FIGURE 29 ADOPTION OF AR IN RETAIL BY ESTABLISHMENTS
                    5.3.1.3 Rising investments in AR market
           5.3.2 RESTRAINTS
                    5.3.2.1 Security and privacy issues associated with AR
                    5.3.2.2 Health issues associated with excessive usage of AR
           5.3.3 OPPORTUNITIES
                    5.3.3.1 Partnerships between telecom players and AR manufacturers to reduce latency to imperceptible levels
                    5.3.3.2 Rise in demand for AR in architecture
                    5.3.3.3 Opportunities in enterprise applications
                    5.3.3.4 High growth of travel & tourism industry
           5.3.4 CHALLENGES
                    5.3.4.1 Display latency and limited field of view
                    5.3.4.2 Overcoming social challenges to increase adoption rate
                    5.3.4.3 Reconfiguration of applications for different platforms
    5.4 MARKET DYNAMICS: VR MARKET
           FIGURE 30 HIGH DEMAND FOR VR APPLICATIONS IN GAMING AND ENTERTAINMENT SECTORS TO DRIVE MARKET GROWTH
           5.4.1 DRIVERS
                    5.4.1.1 Penetration of HMDs in gaming and entertainment sectors after COVID-19
                    5.4.1.2 High investments in VR market
                    5.4.1.3 Advancement of technologies and growing digitization
                    5.4.1.4 Availability of affordable VR devices
                    5.4.1.5 Growing adoption of HMDs in different industries
           5.4.2 RESTRAINTS
                    5.4.2.1 Display latency and energy consumption affect overall performance of VR devices
                    5.4.2.2 Health concerns relating to low resolution and lack of movement
                    5.4.2.3 Trade restrictions between US and China
           5.4.3 OPPORTUNITIES
                    5.4.3.1 Penetration of HMDs in healthcare and architectural applications
                    5.4.3.2 Use of VR in aerospace & defense for training and simulation
                    5.4.3.3 Increasing demand for VR HMDs in healthcare due to COVID-19
           5.4.4 CHALLENGES
                    5.4.4.1 Developing user-friendly VR systems
                    5.4.4.2 Adverse impact of lockdowns due to COVID-19 on commercial trade
    5.5 PRICING ANALYSIS
           TABLE 1 HOURLY RATES OF DEVELOPERS IN DIFFERENT REGIONS
           TABLE 2 AVERAGE PRICING FOR AR & VR HMD
           TABLE 3 COMPARISON OF SDK PRICING
    5.6 AR & VR MARKET: CASE STUDIES
           5.6.1 L&T PARTNERED WITH INGAGE TECHNOLOGY TO TRAIN WORKERS
           5.6.2 MOBIDEV CREATED AR APP TO INCREASE CUSTOMER ENGAGEMENT
           5.6.3 RUFFLES COULD INCREASE SALES WITH AR GAME—AMIGO
    5.7 REGULATORY LANDSCAPE
    5.8 PATENT ANALYSIS
           FIGURE 31 AR AND VR PATENT FILINGS
    5.9 IMPACT OF COVID-19 ON AR & VR MARKET

6 INDUSTRY TRENDS (Page No. - 87)
    6.1 INTRODUCTION
    6.2 SUPPLY CHAIN ANALYSIS
           FIGURE 32 AR & VR SUPPLY CHAIN ANALYSIS (2019): MAJOR VALUE ADDED DURING RESEARCH & PRODUCT DEVELOPMENT AND MANUFACTURING STAGES
           6.2.1 AR-VR ECOSYSTEM
           FIGURE 33 ELEMENTS OF AR ECOSYSTEM
           FIGURE 34 AR & VR SOFTWARE MARKET SUPPLY CHAIN ANALYSIS (2019): MAJOR VALUE ADDED THROUGH PRIMARY ACTIVITIES
    6.3 INDUSTRY TRENDS
           6.3.1 HIGH ADOPTION OF AR SMART GLASSES TO IMPROVE WORK EFFICIENCY
           6.3.2 INCREASED DEMAND FOR AR FOR RUGGED DISPLAY APPLICATIONS
           6.3.3 MICRODISPLAYS FOR VR
                    6.3.3.1 LOMID project
                    6.3.3.2 Kopin’s microdisplay for VR HMD
    6.4 AR TECHNOLOGIES
           6.4.1 MOBILE AUGMENTED REALITY (MAR)
           6.4.2 MONITOR-BASED TECHNOLOGY
           6.4.3 NEAR-EYE-BASED TECHNOLOGY
    6.5 WEB AR
           TABLE 4 USE CASE FOR WEB AR

7 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY TECHNOLOGY (Page No. - 94)
    7.1 INTRODUCTION
    7.2 AUGMENTED REALITY TECHNOLOGY
           TABLE 5 COMPARISON BETWEEN MARKER-BASED AND MARKERLESS AR
           7.2.1 MARKER-BASED AUGMENTED REALITY
                    7.2.1.1 Passive market
                               7.2.1.1.1 Passive markers are more widely used type of marker-based AR
                    7.2.1.2 Active marker
                               7.2.1.2.1 Active markers use LED to track objects
           7.2.2 MARKERLESS AUGMENTED REALITY
                    7.2.2.1 Model-based tracking
                               7.2.2.1.1 Model-based tracking depends on camera movements
                    7.2.2.2 Image processing-based tracking
                               7.2.2.2.1 Image processing-based tracking requires optical scanners or cameras for processing images
           7.2.3 ANCHOR-BASED AUGMENTED REALITY
                    7.2.3.1 Anchor-based AR is used to overlay virtual images in real space
    7.3 VIRTUAL REALITY TECHNOLOGY
           FIGURE 35 SEMI- AND FULLY IMMERSIVE TECHNOLOGIES TO DOMINATE VIRTUAL REALITY MARKET DURING FORECAST PERIOD
           TABLE 6 VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2016–2019 (USD MILLION)
           TABLE 7 VIRTUAL REALITY MARKET, BY TECHNOLOGY, 2020–2025 (USD MILLION)
           7.3.1 NON-IMMERSIVE TECHNOLOGY
                    7.3.1.1 Use of non-immersive technology in VR software development set to drive the market
                               TABLE 8 VIRTUAL REALITY MARKET FOR NON-IMMERSIVE TECHNOLOGY,  BY OFFERING, 2016–2019 (USD MILLION)
                               TABLE 9 VIRTUAL REALITY MARKET FOR NON-IMMERSIVE TECHNOLOGY, BY OFFERING, 2020–2025 (USD MILLION)
           7.3.2 SEMI-IMMERSIVE AND FULLY IMMERSIVE TECHNOLOGY
                    7.3.2.1 Fully immersive technology would be driven by demand for VR HMDs
                               TABLE 10 VIRTUAL REALITY MARKET FOR SEMI- AND FULLY IMMERSIVE TECHNOLOGIES, BY OFFERING, 2016–2019 (USD MILLION)
                               TABLE 11 VIRTUAL REALITY MARKET FOR SEMI- AND FULLY IMMERSIVE TECHNOLOGIES, BY OFFERING, 2020–2025 (USD MILLION)

8 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY OFFERING (Page No. - 101)
    8.1 INTRODUCTION
           FIGURE 36 AUGMENTED REALITY MARKET FOR HARDWARE EXPECTED TO GROW AT A HIGHER CAGR THAN SOFTWARE DURING FORECAST PERIOD
           TABLE 12 AUGMENTED REALITY MARKET, BY OFFERING, 2016–2019 (USD MILLION)
           TABLE 13 AUGMENTED REALITY MARKET, BY OFFERING, 2020–2025 (USD MILLION)
    8.2 HARDWARE
           FIGURE 37 DISPLAYS & PROJECTORS TO HOLD LARGEST SIZE OF AUGMENTED REALITY MARKET DURING FORECAST PERIOD
           TABLE 14 AUGMENTED REALITY MARKET, BY HARDWARE COMPONENT, 2016–2019 (USD MILLION)
           TABLE 15 AUGMENTED REALITY MARKET, BY HARDWARE COMPONENT, 2020–2025 (USD MILLION)
           FIGURE 38 VIRTUAL REALITY MARKET FOR HARDWARE TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
           TABLE 16 VIRTUAL REALITY MARKET, BY OFFERING, 2016–2019 (USD MILLION)
           TABLE 17 VIRTUAL REALITY MARKET, BY OFFERING, 2020–2025 (USD MILLION)
           FIGURE 39 VIRTUAL REALITY MARKET FOR DISPLAYS AND PROJECTORS TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 18 VIRTUAL REALITY MARKET, BY HARDWARE, 2016–2019 (USD MILLION)
           TABLE 19 VIRTUAL REALITY MARKET, HARDWARE, 2020–2025 (USD MILLION)
           8.2.1 SENSORS
                    8.2.1.1 Sensors are widely used in AR & VR devices for detecting motion, velocity, magnetic field, and object presence
                               8.2.1.1.1 Accelerometers
                               8.2.1.1.2 Gyroscopes
                               8.2.1.1.3 Magnetometers
                               8.2.1.1.4 Proximity sensors
           8.2.2 SEMICONDUCTOR COMPONENTS
                    8.2.2.1 Controller is the most important component of AR and VR devices
                               8.2.2.1.1 Controllers and processors
                               8.2.2.1.2 Integrated circuits
           8.2.3 DISPLAYS AND PROJECTORS
                    8.2.3.1 Displays & projectors hold the major share of AR and VR market
           8.2.4 POSITION TRACKERS
                    8.2.4.1 Position trackers are used to maintain accuracy in AR and VR devices
           8.2.5 CAMERAS
                    8.2.5.1 Cameras are crucial components to measure depth and amplitude of objects
           8.2.6 OTHERS
                    8.2.6.1 Other components include computers/video generators and combiners
           8.2.7 IMPACT OF COVID-19 ON HARDWARE MARKET
    8.3 SOFTWARE
           8.3.1 SDK’S WILL PLAY CRUCIAL ROLE IN AR & VR SOFTWARE MARKET
                    8.3.1.1 Software development kits
                    8.3.1.2 Cloud-based services
                               FIGURE 40 CONSUMER APPLICATION EXPECTED TO HOLD LARGEST SIZE OF AUGMENTED REALITY MARKET FOR SOFTWARE DURING FORECAST PERIOD
                               TABLE 20 AUGMENTED REALITY MARKET FOR SOFTWARE, BY APPLICATION, 2016–2019 (USD MILLION)
                               TABLE 21 AUGMENTED REALITY MARKET FOR SOFTWARE, BY APPLICATION, 2020–2025 (USD MILLION)
                               FIGURE 41 VIRTUAL REALITY SOFTWARE MARKET FOR COMMERCIAL APPLICATION TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
                               TABLE 22 VIRTUAL REALITY MARKET FOR SOFTWARE, BY APPLICATION, 2016–2019 (USD MILLION)
                               TABLE 23 VIRTUAL REALITY MARKET FOR SOFTWARE, BY APPLICATION, 2020–2025 (USD MILLION)
           8.3.2 IMPACT OF COVID-19 ON SOFTWARE MARKET
           8.3.3 AUGMENTED REALITY SOFTWARE FUNCTIONS
                    8.3.3.1 Workflow optimization and remote collaboration are the most trending AR solutions
                               8.3.3.1.1 Remote collaboration
                               8.3.3.1.2 Workflow optimization
                               8.3.3.1.3 Documentation
                               8.3.3.1.4 Visualization
                               8.3.3.1.5 3D modeling
                               8.3.3.1.6 Navigation
    8.4 VIRTUAL REALITY CONTENT CREATION
           8.4.1 VR CONTENT CREATION IS THE KEY TO STRENGTHEN VR TECHNOLOGY AND GROWTH OF VR HARDWARE DEVICES

9 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY DEVICE TYPE (Page No. - 116)
    9.1 INTRODUCTION
    9.2 AUGMENTED REALITY DEVICES
           FIGURE 42 AUGMENTED REALITY MARKET FOR HEAD-MOUNTED DISPLAYS TO GROW AT A HIGHER CAGR DURING FORECAST PERIOD
           TABLE 24 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2016–2019 (USD MILLION)
           TABLE 25 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2020–2025 (USD MILLION)
           FIGURE 43 HEAD-MOUNTED DISPLAYS EXPECTED TO LEAD AUGMENTED REALITY MARKET IN TERMS OF SHIPMENT DURING FORECAST PERIOD
           TABLE 26 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2016–2019 (THOUSAND UNITS)
           TABLE 27 AUGMENTED REALITY MARKET, BY DEVICE TYPE, 2020–2025 (THOUSAND UNITS)
           9.2.1 HEAD-MOUNTED DISPLAYS
                    TABLE 28 AUGMENTED REALITY MARKET FOR HMDS, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 29 AUGMENTED REALITY MARKET FOR HMDS, BY APPLICATION, 2020–2025 (USD MILLION)
                    9.2.1.1 Augmented Reality smart glasses
                               9.2.1.1.1 AR smart glasses are widely adopted across companies to improve work efficiency
                    9.2.1.2 Smart helmets
                               9.2.1.2.1 Smart helmets are widely adopted in construction sector to optimize workflow
           9.2.2 HEAD-UP DISPLAYS
                    9.2.2.1 Head-up display devices are anticipated to commercialize in 2020
                               TABLE 30 AUGMENTED REALITY HUDS MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                               TABLE 31 AUGMENTED REALITY HUDS MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
           9.2.3 COVID-19 IMPACT ON AR DEVICE TYPES
                    FIGURE 44 PRE-COVID-19 VS. POST-COVID-19 COMPARISON FOR AR HMD MARKET
                    FIGURE 45 PRE-COVID-19 VS. POST-COVID-19 COMPARISON FOR AR HUD MARKET
    9.3 VIRTUAL REALITY DEVICES
           FIGURE 46 VIRTUAL REALITY MARKET FOR GESTURE-TRACKING DEVICES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 32 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2016–2019 (USD MILLION)
           TABLE 33 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2025 (USD MILLION)
           FIGURE 47 VIRTUAL REALITY MARKET FOR GESTURE-TRACKING DEVICES TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD IN TERMS OF SHIPMENT
           TABLE 34 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2016–2019 (THOUSAND UNITS)
           TABLE 35 VIRTUAL REALITY MARKET, BY DEVICE TYPE, 2020–2025 (THOUSAND UNITS)
           9.3.1 HEAD-MOUNTED DISPLAYS
                    9.3.1.1 Use of HMDs in gaming and entertainment is the major driver for growth of VR hardware devices
    9.4 IMPACT OF COVID-19 ON DEVICE TYPES
           TABLE 36 VIRTUAL REALITY HMDS MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
           TABLE 37 VIRTUAL REALITY HMDS MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
           9.4.1 COVID-19 IMPACT ON VIRTUAL REALITY HMDS MARKET
           9.4.2 GESTURE-TRACKING DEVICES
                    9.4.2.1 Gesture-tracking devices to play a crucial role in healthcare and gaming applications
                               9.4.2.1.1 Data gloves
                               9.4.2.1.2 Others
                                             TABLE 38 VIRTUAL REALITY MARKET FOR GESTURE-TRACKING DEVICES, BY APPLICATION, 2016–2019 (USD MILLION)
                                             TABLE 39 VIRTUAL REALITY MARKET FOR GESTURE-TRACKING DEVICES, BY APPLICATION, 2020–2025 (USD MILLION)
                    9.4.2.2 Impact of COVID-19 on gesture-tracking devices market
           9.4.3 PROJECTORS & DISPLAY WALLS
                    9.4.3.1 Projectors and display walls are new growth avenues in VR hardware market
                               TABLE 40 VIRTUAL REALITY MARKET FOR PROJECTORS & DISPLAY WALLS, BY APPLICATION, 2016–2019 (USD MILLION)
                               TABLE 41 VIRTUAL REALITY MARKET FOR PROJECTORS & DISPLAY WALLS, BY APPLICATION, 2020–2025 (USD MILLION)

10 AUGMENTED REALITY AND VIRTUAL REALITY MARKET, BY APPLICATION (Page No. - 132)
     10.1 INTRODUCTION
               FIGURE 48 AUGMENTED REALITY MARKET, BY APPLICATION
               FIGURE 49 CONSUMER APPLICATION TO HOLD LARGEST SHARE OF AUGMENTED REALITY MARKET DURING FORECAST PERIOD
               TABLE 42 AUGMENTED REALITY MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 43 AUGMENTED REALITY MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
     10.2 APPLICATIONS OF AUGMENTED REALITY
             10.2.1 CONSUMER
                       TABLE 44 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                       TABLE 45 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                       TABLE 46 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 47 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                       TABLE 48 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 49 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 50 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 51 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 52 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 53 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 54 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 55 AUGMENTED REALITY MARKET FOR CONSUMER APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                       10.2.1.1 Gaming
                                   10.2.1.1.1 Augmented reality enhances interactivity in gaming and provides a more immersive experience to gamers
                       10.2.1.2 Sports & entertainment
                                   10.2.1.2.1 Entertainment applications
                                                    10.2.1.2.1.1 Museums (archaeology)
                                                    10.2.1.2.1.2 Augmented reality enhances the viewing experience of visitors in archeological monuments and museums
                                                    10.2.1.2.1.3 Theme parks
                                                    10.2.1.2.1.4 Augmented reality enhances interactivity of theme parks
                                                    10.2.1.2.1.5 Art galleries and exhibitions
                                                    10.2.1.2.1.6 Augmented reality enhances artistic visualization and provides an immersive experience to visitors
FALSE
             10.2.2 COMMERCIAL
                       TABLE 57 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                       TABLE 58 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                       TABLE 59 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 60 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                       TABLE 61 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 62 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 63 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 64 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 65 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 66 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 67 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 68 AUGMENTED REALITY MARKET FOR COMMERCIAL APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                       10.2.2.1 Retail & e-commerce
                                   10.2.2.1.1 Jewelry
                                                    10.2.2.1.1.1 Augmented reality enables consumers to try before they buy and improves consumer buying experience
                                   10.2.2.1.2 Beauty and cosmetics
                                                    10.2.2.1.2.1 Virtual testing of cosmetic products is the key driver for augmented reality market in beauty and cosmetics
                                   10.2.2.1.3 Apparel fitting
                                                    10.2.2.1.3.1 Virtual trial rooms are gaining consumer attention
                                   10.2.2.1.4 Grocery shopping
                                                    10.2.2.1.4.1 Augmented reality provides personalized product tips in grocery application
                                   10.2.2.1.5 Footwear
                                                    10.2.2.1.5.1 Virtual try before you buy feature drives growth of augmented reality market in footwear
                                   10.2.2.1.6 Furniture & lighting design
                                                    10.2.2.1.6.1 Reduced product exchange rate through augmented reality drives the growth of augmented reality market in furniture & lighting design
                       10.2.2.2 Travel & Tourism
                                   10.2.2.2.1 Augmented reality plays a crucial role in enhancing traveling experience
                       10.2.2.3 E-learning
                                   10.2.2.3.1 Augmented reality increases student’s interaction and enhances learning experience
                                                    TABLE 69 USE CASES OF AUGMENTED REALITY IN COMMERCIAL APPLICATION
             10.2.3 ENTERPRISE (MANUFACTURING)
                       10.2.3.1 Augmented reality aids enterprises in providing better training by visualizing content
                                   TABLE 70 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                                   TABLE 71 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                                   TABLE 72 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 73 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 74 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 75 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 76 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 77 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 78 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 79 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 80 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 81 AUGMENTED REALITY MARKET FOR ENTERPRISE APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 82 USE CASES OF AUGMENTED REALITY IN ENTERPRISE APPLICATION
             10.2.4 HEALTHCARE
                       TABLE 83 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                       TABLE 84 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                       TABLE 85 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 86 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                       TABLE 87 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 88 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 89 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 90 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 91 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 92 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 93 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 94 AUGMENTED REALITY MARKET FOR HEALTHCARE APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                       10.2.4.1 Surgery
                                   10.2.4.1.1 Augmented healthcare apps can help save lives and treat patients seamlessly irrespective of severity of issues
                       10.2.4.2 Fitness management
                                   10.2.4.2.1 Augmented reality adds interactivity and fun to workouts
                       10.2.4.3 Patient care management
                                   10.2.4.3.1 Remote consulting feature drives growth of augmented reality for patient care management
                       10.2.4.4 Pharmacy management
                                   10.2.4.4.1 Requirement of better scheduling flow of medicines drives growth of augmented reality in pharmacy management
                       10.2.4.5 Medical training and education
                                   10.2.4.5.1 Augmented reality enriches learning experience and amplifies interactivity
                       10.2.4.6 Others
                                   10.2.4.6.1 AR helps radiologists to perceive 3D image data more precisely for interventional and diagnostic radiology
                                                    TABLE 95 USE CASES OF AUGMENTED REALITY IN HEALTHCARE APPLICATION
             10.2.5 AEROSPACE & DEFENSE
                       10.2.5.1 AR is being used to gain competitive advantage over enemies
                                   TABLE 96 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                                   TABLE 97 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                                   TABLE 98 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 99 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 100 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 101 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 102 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 103 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 104 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 105 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 106 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 107 AUGMENTED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 108 USE CASES OF AUGMENTED REALITY IN AEROSPACE & DEFENSE APPLICATION
             10.2.6 ENERGY
                       10.2.6.1 Growing need to improve safety in oil & gas sector drives augmented reality market in energy
                                   TABLE 109 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                                   TABLE 110 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                                   TABLE 111 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 112 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 113 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 114 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 115 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 116 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 117 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION IN APAC, BY COUNTRY 2016–2019 (USD MILLION)
                                   TABLE 118 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION IN APAC, BY COUNTRY 2020–2025 (USD MILLION)
                                   TABLE 119 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 120 AUGMENTED REALITY MARKET FOR ENERGY APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 121 USE CASES OF AUGMENTED REALITY IN ENERGY APPLICATION
             10.2.7 AUTOMOTIVE
                       10.2.7.1 Emergence of ADAS drives demand for AR-based HUD technology
                                   TABLE 122 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                                   TABLE 123 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                                   TABLE 124 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 125 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 126 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 127 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 128 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 129 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 130 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 131 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 132 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 133 AUGMENTED REALITY MARKET FOR AUTOMOTIVE APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 134 USE CASES OF AUGMENTED REALITY IN AUTOMOTIVE APPLICATION
             10.2.8 OTHERS
                       TABLE 135 AUGMENTED REALITY MARKET FOR OTHER APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                       TABLE 136 AUGMENTED REALITY MARKET FOR OTHER APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                       TABLE 137 AUGMENTED REALITY MARKET FOR OTHER APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 138 AUGMENTED REALITY MARKET FOR OTHER APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                       TABLE 139 AUGMENTED REALITY MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 140 AUGMENTED REALITY MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 141 AUGMENTED REALITY MARKET FOR OTHER APPLICATIONS IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 142 AUGMENTED REALITY MARKET FOR OTHER APPLICATIONS IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 143 AUGMENTED REALITY MARKET FOR OTHER APPLICATIONS IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 144 AUGMENTED REALITY MARKET FOR OTHER APPLICATIONS IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 145 AUGMENTED REALITY MARKET FOR OTHER APPLICATIONS IN ROW, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 146 AUGMENTED REALITY MARKET FOR OTHER APPLICATIONS IN ROW, BY REGION, 2020–2025 (USD MILLION)
                       10.2.8.1 Agriculture
                                   10.2.8.1.1 Augmented reality assists farmers in implementing new techniques with a better learning experience
                       10.2.8.2 Construction
                                   10.2.8.2.1 3D models required for construction projects can be better illustrated with augmented reality
                       10.2.8.3 Transportation & logistics
                                   10.2.8.3.1 AR technology is widely adopted in transportation & logistics sector to document trading activities
                       10.2.8.4 Public safety
                                   10.2.8.4.1 Augmented reality-based 3D maps aid police personnel to enhance public safety
                       10.2.8.5 Telecom/IT data centers
                                   10.2.8.5.1 Requirement of advanced network infrastructure in telecom/IT data centers would help drive AR software market for this vertical
                                                    TABLE 147 USE CASES OF AUGMENTED REALITY IN OTHER APPLICATIONS
     10.3 VIRTUAL REALITY APPLICATIONS
               FIGURE 50 VR MARKET FOR HEALTHCARE TO REGISTER HIGHEST CAGR BETWEEN 2020 AND 2025
               TABLE 148 VIRTUAL REALITY MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 149 VIRTUAL REALITY MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
             10.3.1 CONSUMER
                       10.3.1.1 Gaming and entertainment applications are major drivers for VR market growth
                                   TABLE 150 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                                   TABLE 151 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                                   TABLE 152 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 153 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 154 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 155 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 156 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 157 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 158 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 159 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 160 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 161 VIRTUAL REALITY MARKET FOR CONSUMER APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                                   10.3.1.1.1 Gaming and entertainment
                                   10.3.1.1.2 Sports
                       10.3.1.2 Use cases of virtual reality in consumer application
             10.3.2 COMMERCIAL
                       10.3.2.1 Retail and e-commerce to drive commercial application in VR market
                                   TABLE 162 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                                   TABLE 163 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                                   TABLE 164 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 165 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 166 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 167 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 168 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 169 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 170 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 171 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 172 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 173 VIRTUAL REALITY MARKET FOR COMMERCIAL APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                                   10.3.2.1.1 Retail & e-commerce
                                   10.3.2.1.2 Education and training
                                   10.3.2.1.3 Travel and tourism
                                   10.3.2.1.4 Advertising
                       10.3.2.2 Use cases of virtual reality in commercial application
             10.3.3 ENTERPRISE (MANUFACTURING)
                       10.3.3.1 Increased use of VR technology and devices in industrial facilities to drive enterprise application in VR market
                                   TABLE 174 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                                   TABLE 175 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                                   TABLE 176 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 177 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 178 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 179 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 180 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 181 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 182 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 183 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 184 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 185 VIRTUAL REALITY MARKET FOR ENTERPRISE APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                       10.3.3.2 Use cases of virtual reality in enterprise (manufacturing)
             10.3.4 HEALTHCARE
                       10.3.4.1 Patient care management and medical training & education are major applications driving growth of VR in healthcare
                                   TABLE 186 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                                   TABLE 187 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                                   TABLE 188 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 189 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 190 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 191 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 192 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 193 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 194 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 195 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 196 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 197 VIRTUAL REALITY MARKET FOR HEALTHCARE APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                                   10.3.4.1.1 Surgery
                                   10.3.4.1.2 Patient care management
                                   10.3.4.1.3 Fitness management
                                   10.3.4.1.4 Pharmacy management
                                   10.3.4.1.5 Medical training and education
                       10.3.4.2 Use cases of virtual reality in healthcare
             10.3.5 AEROSPACE & DEFENSE
                       10.3.5.1 Simulation training to be a major growth factor of VR in aerospace & defense
                                   TABLE 198 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                                   TABLE 199 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                                   TABLE 200 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 201 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION, BY REGION, 2020–2025 (USD MILLION)
                                   TABLE 202 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 203 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 204 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 205 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 206 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                                   TABLE 207 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                                   TABLE 208 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN ROW, BY REGION, 2016–2019 (USD MILLION)
                                   TABLE 209 VIRTUAL REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION IN ROW, BY REGION, 2020–2025 (USD MILLION)
                       10.3.5.2 Use cases of virtual reality in aerospace & defense
             10.3.6 OTHERS
                       TABLE 210 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS, BY DEVICE TYPE, 2016–2019 (USD MILLION)
                       TABLE 211 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS, BY DEVICE TYPE, 2020–2025 (USD MILLION)
                       TABLE 212 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 213 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
                       TABLE 214 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 215 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 216 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 217 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 218 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 219 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
                       TABLE 220 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS IN ROW, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 221 VIRTUAL REALITY MARKET FOR OTHER APPLICATIONS IN ROW, BY REGION, 2020–2025 (USD MILLION)
                       10.3.6.1 Automotive
                       10.3.6.2 Real estate (architecture and building design)
                       10.3.6.3 Geospatial mining
                       10.3.6.4 Use cases of virtual reality in other applications
             10.3.7 COVID-19 IMPACT ON MAJOR APPLICATIONS
                       FIGURE 51 COVID-19 IMPACT ON AR MARKET FOR CONSUMER APPLICATION
                       FIGURE 52 COVID-19 IMPACT ON AR MARKET FOR ENTERPRISE APPLICATION
                       FIGURE 53 COVID-19 IMPACT ON VR MARKET FOR CONSUMER APPLICATION
                       FIGURE 54 COVID-19 IMPACT ON VR MARKET FOR HEALTHCARE APPLICATION
11 GEOGRAPHICAL ANALYSIS (Page No. - 213)
     11.1 INTRODUCTION
               FIGURE 55 GEOGRAPHIC SNAPSHOT: AUGMENTED REALITY MARKET IN APAC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
               FIGURE 56 GEOGRAPHIC SNAPSHOT: VIRTUAL REALITY MARKET IN APAC TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
               FIGURE 57 US TO HOLD LARGEST SIZE OF AUGMENTED REALITY MARKET FROM 2020 TO 2025
               TABLE 222 AUGMENTED REALITY MARKET, BY REGION, 2016–2019 (USD MILLION)
               TABLE 223 AUGMENTED REALITY MARKET, BY REGION, 2020–2025 (USD MILLION)
               FIGURE 58 US TO HOLD LARGEST SIZE OF VIRTUAL REALITY MARKET FROM 2020 TO 2025
               TABLE 224 VIRTUAL REALITY MARKET, BY REGION, 2016–2019 (USD MILLION)
               TABLE 225 VIRTUAL REALITY MARKET, BY REGION, 2020–2025 (USD MILLION)
     11.2 NORTH AMERICA
               FIGURE 59 NORTH AMERICA: SNAPSHOT OF AUGMENTED REALITY MARKET
               TABLE 226 AUGMENTED REALITY MARKET IN NORTH AMERICA, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 227 AUGMENTED REALITY MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2025 (USD MILLION)
               TABLE 228 AUGMENTED REALITY MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
               TABLE 229 AUGMENTED REALITY MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
               FIGURE 60 NORTH AMERICA: SNAPSHOT OF VIRTUAL REALITY MARKET
               TABLE 230 VIRTUAL REALITY MARKET IN NORTH AMERICA, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 231 VIRTUAL REALITY MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2025 (USD MILLION)
               TABLE 232 VIRTUAL REALITY MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
               TABLE 233 VIRTUAL REALITY MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
             11.2.1 US
                       11.2.1.1 Strong presence of AR & VR companies to drive market
             11.2.2 CANADA
                       11.2.2.1 Increasing investments in cutting-edge technologies to fuel growth
             11.2.3 MEXICO
                       11.2.3.1 Evolving industries to drive market growth
     11.3 EUROPE
               FIGURE 61 EUROPE: SNAPSHOT OF AUGMENTED REALITY MARKET
               TABLE 234 AUGMENTED REALITY MARKET IN EUROPE, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 235 AUGMENTED REALITY MARKET IN EUROPE, BY APPLICATION, 2020–2025 (USD MILLION)
               TABLE 236 AUGMENTED REALITY MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
               TABLE 237 AUGMENTED REALITY MARKET IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
               FIGURE 62 EUROPE: SNAPSHOT OF VIRTUAL REALITY MARKET
               TABLE 238 VIRTUAL REALITY MARKET IN EUROPE, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 239 VIRTUAL REALITY MARKET IN EUROPE, BY APPLICATION, 2020–2025 (USD MILLION)
               TABLE 240 VIRTUAL REALITY MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
               TABLE 241 VR MARKET IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)
             11.3.1 GERMANY
                       11.3.1.1 High adoption of new technologies in manufacturing to drive market
             11.3.2 FRANCE
                       11.3.2.1 High adoption in retail to enhance market growth
             11.3.3 UK
                       11.3.3.1 Continuous focus on digitalization likely to drive market growth
             11.3.4 REST OF EUROPE
                       11.3.4.1 Inflow of products and technology from UK, Germany, and France to propel market growth
     11.4 APAC
               FIGURE 63 APAC: SNAPSHOT OF AUGMENTED REALITY MARKET
               TABLE 242 AUGMENTED REALITY MARKET IN APAC, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 243 AUGMENTED REALITY MARKET IN APAC, BY APPLICATION, 2020–2025 (USD MILLION)
               TABLE 244 AUGMENTED REALITY MARKET IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
               TABLE 245 AUGMENTED REALITY MARKET IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
               FIGURE 64 APAC: SNAPSHOT OF VIRTUAL REALITY MARKET
               TABLE 246 VIRTUAL REALITY MARKET IN APAC, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 247 VIRTUAL REALITY MARKET IN APAC, BY APPLICATION, 2020–2025 (USD MILLION)
               TABLE 248 VIRTUAL REALITY MARKET IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
               TABLE 249 VIRTUAL REALITY MARKET IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)
             11.4.1 CHINA
                       11.4.1.1 High number of local players producing AR & VR devices to drive market growth
             11.4.2 INDIA
                       11.4.2.1 Increasing awareness of advanced technology to play crucial role in market growth
             11.4.3 JAPAN
                       11.4.3.1 High growth of healthcare sector to fuel market growth
             11.4.4 SOUTH KOREA
                       11.4.4.1 Digital revolution in industrial sector to drive market growth
             11.4.5 REST OF APAC
                       11.4.5.1 High consumer spending to boost market
     11.5 ROW
               TABLE 250 AUGMENTED REALITY MARKET IN ROW, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 251 AUGMENTED REALITY MARKET IN ROW, BY APPLICATION, 2020–2025 (USD MILLION)
               TABLE 252 AUGMENTED REALITY MARKET IN ROW, BY REGION, 2016–2019 (USD MILLION)
               TABLE 253 AUGMENTED REALITY MARKET IN ROW, BY REGION, 2020–2025 (USD MILLION)
               TABLE 254 VIRTUAL REALITY MARKET IN ROW, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 255 VIRTUAL REALITY MARKET IN ROW, BY APPLICATION, 2020–2025 (USD MILLION)
               TABLE 256 VIRTUAL REALITY MARKET IN ROW, BY REGION, 2016–2019 (USD MILLION)
               TABLE 257 VIRTUAL REALITY MARKET IN ROW, BY REGION, 2020–2025 (USD MILLION)
             11.5.1 MIDDLE EAST & AFRICA
                       11.5.1.1 Oil & gas and mining to fuel growth of AR and VR devices
             11.5.2 SOUTH AMERICA
                       11.5.2.1 Growing consumer market to drive market growth
     11.6 COVID-19 IMPACT ON MAJOR REGIONS
               FIGURE 65 PRE-COVID-19 VS. POST-COVID-19 COMPARISON FOR NORTH AMERICAN AR MARKET
               FIGURE 66 PRE-COVID-19 VS. POST-COVID-19 COMPARISON FOR APAC AR MARKET
               FIGURE 67 PRE-COVID-19 VS. POST-COVID-19 COMPARISON FOR NORTH AMERICAN VR MARKET
               FIGURE 68 PRE-COVID-19 VS. POST-COVID-19 COMPARISON FOR APAC VR MARKET

12 COMPETITIVE LANDSCAPE (Page No. - 245)
     12.1 INTRODUCTION
               FIGURE 69 COMPANIES ADOPTED PRODUCT LAUNCHES & DEVELOPMENTS AS KEY GROWTH STRATEGY FROM 2017 TO 2020
               FIGURE 70 COMPANIES ADOPTED PRODUCT LAUNCHES & DEVELOPMENTS AS KEY GROWTH STRATEGIES FROM 2017 TO 2020
     12.2 MARKET SHARE: AR MARKET
               FIGURE 71 MARKET SHARE FOR MOBILE AUGMENTED REALITY MARKET
     12.3 MARKET SHARE: VR MARKET
               FIGURE 72 MARKET SHARE FOR VR MARKET
     12.4 RANKING FOR AR MARKET PLAYERS
               FIGURE 73 RANKING OF THE TOP 5 PLAYERS IN AUGMENTED REALITY MARKET
     12.5 RANKING FOR VR MARKET PLAYERS
               FIGURE 74 RANKING OF TOP 5 PLAYERS IN VR MARKET
     12.6 COMPETITIVE SCENARIO: AR MARKET
             12.6.1 PRODUCT LAUNCHES & DEVELOPMENTS
                       TABLE 258 PRODUCT LAUNCHES & DEVELOPMENTS, 2018–2019
             12.6.2 PARTNERSHIPS
                       TABLE 259 PARTNERSHIPS, 2018–2019
             12.6.3 AGREEMENTS & COLLABORATIONS
                       TABLE 260 AGREEMENTS & COLLABORATIONS, 2018–2019
             12.6.4 ACQUISITIONS AND EXPANSIONS
                       TABLE 261 ACQUISITIONS & EXPANSIONS, 2017–2019
     12.7 COMPETITIVE SCENARIO: VR MARKET
             12.7.1 PRODUCT LAUNCHES & DEVELOPMENTS
                       TABLE 262 PRODUCT LAUNCHES & DEVELOPMENTS: VR MARKET, 2017 TO 2020
             12.7.2 PARTNERSHIPS
                       TABLE 263 PARTNERSHIPS: VR MARKET, 2017–2020
             12.7.3 AGREEMENTS, COLLABORATIONS, AND CAPITAL FUNDING
                       TABLE 264 AGREEMENTS, COLLABORATIONS, AND CAPITAL FUNDING: VR MARKET, 2017–2020
             12.7.4 ACQUISITIONS AND EXPANSIONS
                       TABLE 265 ACQUISITIONS AND EXPANSIONS: VR MARKET, 2017–2020
     12.8 COMPANY EVALUATION QUADRANT: AR MARKET
             12.8.1 STAR
             12.8.2 EMERGING LEADER
             12.8.3 PERVASIVE
             12.8.4 PARTICIPANT
                       FIGURE 75 AR MARKET (GLOBAL) COMPANY EVALUATION QUADRANT
     12.9 COMPANY EVALUATION QUADRANT: VR MARKET
             12.9.1 STAR
             12.9.2 EMERGING LEADER
             12.9.3 PERVASIVE
             12.9.4 PARTICIPANT
                       FIGURE 76 VR MARKET (GLOBAL) COMPANY EVALUATION QUADRANT, 2019
     12.10 STARTUP EVALUATION MATRIX: AR & VR MARKET
             12.10.1 PROGRESSIVE COMPANIES
             12.10.2 RESPONSIVE COMPANIES
             12.10.3 DYNAMIC COMPANIES
             12.10.4 STARTING BLOCKS
                          FIGURE 77 AR & VR MARKET (GLOBAL): SME EVALUATION MATRIX

13 COMPANY PROFILES (Page No. - 260)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     13.1 KEY PLAYERS
             13.1.1 GOOGLE, INC.
                       FIGURE 78 GOOGLE, INC.: COMPANY SNAPSHOT
             13.1.2 MICROSOFT
                       FIGURE 79 MICROSOFT: COMPANY SNAPSHOT
             13.1.3 SONY
                       FIGURE 80 SONY: COMPANY SNAPSHOT
             13.1.4 OCULUS VR (FACEBOOK)
             13.1.5 SAMSUNG ELECTRONICS
                       FIGURE 81 SAMSUNG ELECTRONICS: COMPANY SNAPSHOT
             13.1.6 HTC
                       FIGURE 82 HTC: COMPANY SNAPSHOT
             13.1.7 APPLE
                       FIGURE 83 APPLE: COMPANY SNAPSHOT
             13.1.8 PTC INC.
                       FIGURE 84 PTC INC.: COMPANY SNAPSHOT
             13.1.9 SEIKO EPSON
                       FIGURE 85 SEIKO EPSON: COMPANY SNAPSHOT
             13.1.10 LENOVO
                       FIGURE 86 LENOVO GROUP: COMPANY SNAPSHOT
             13.1.11 WIKITUDE GMBH
             13.1.12 EON REALITY
             13.1.13 MAXST
             13.1.14 MAGIC LEAP, INC.
             13.1.15 BLIPPAR
             13.1.16 UPSKILL
             13.1.17 ATHEER INC.
             13.1.18 VUZIX
                       FIGURE 87 VUZIX: COMPANY SNAPSHOT
             13.1.19 CYBERGLOVE SYSTEMS
             13.1.20 LEAP MOTION (ULTRALEAP)
             13.1.21 SIXENSE ENTERPRISES
     13.2 RIGHT TO WIN: AR MARKET
     13.3 RIGHT TO WIN: VR MARKET
     13.4 OTHER PLAYERS
             13.4.1 NINTENDO
             13.4.2 PSIOUS
             13.4.3 MARXENT LABS, LLC
             13.4.4 INGLOBE TECHNOLOGIES
             13.4.5 META COMPANY
             13.4.6 NIANTIC
             13.4.7 AUGMENT
             13.4.8 MINDMAZE
             13.4.9 FIRSTHAND TECHNOLOGY
             13.4.10 WORLDVIZ
             13.4.11 VIRTUIX
             13.4.12 SURVIOS
             13.4.13 INTEL CORPORATION
             13.4.14 REALWEAR
             13.4.15 MERGE LABS
             13.4.16 SPACEVR
             13.4.17 VIRTUALLY LIVE
             13.4.18 XIAOMI CORPORATION
             13.4.19 PANASONIC CORPORATION
             13.4.20 DYNABOOK AMERICAS, INC.
             13.4.21 OPTINVENT
             13.4.22 WAYRAY
             13.4.23 SCOPE AR
             13.4.24 CONTINENTAL
             13.4.25 VISTEON CORPORATION
     13.5 START-UP PLAYERS
             13.5.1 TALEPSPIN
             13.5.2 SCANTA
             13.5.3 CRAFTARS
             13.5.4 APPENTUS TECHNOLOGIES
             13.5.5 BIDON GAMES STUDIO

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

14 APPENDIX (Page No. - 330)
     14.1 INSIGHTS OF INDUSTRY EXPERTS
     14.2 DISCUSSION GUIDE
     14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     14.4 AVAILABLE CUSTOMIZATIONS
     14.5 RELATED REPORTS
     14.6 AUTHOR DETAILS

The study involved four major activities in estimating the size for augmented reality & virtual reality market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources were referred to for identifying and collecting information pertinent to this study on the augmented reality & virtual reality market. Secondary sources included annual reports; press releases; investor presentations; white papers; journals and certified publications; and articles by recognized authors, directories, and databases. The secondary sources referred to for this research study include organizations such as the Consumer Technology Association (CTA), Integrated Systems Europe, Camera & Imaging Products Association (CIPA), the Society for Information Display (SID), and Touch Taiwan. Secondary research was conducted to obtain key information about the supply chain of the industry, value chain of the market, the total pool of key players, market segmentation according to the industry trends (to the bottommost level), geographic markets, and key developments from both market- and technology-oriented perspectives.

After the complete market engineering (which included calculations for the market statistics, market breakdown, data triangulation, market size estimations, and market forecasting), extensive primary research was carried out to gather information, as well as to verify and validate the critical numbers obtained.

Primary Research

Extensive primary research was conducted after gaining knowledge about the current scenario of the augmented reality & virtual reality market through secondary research. Several primary interviews were conducted with the market experts from both demand and supply sides across 4 major regions: North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). Approximately 20% and 80% of primary interviews were conducted with parties from the demand side and supply side, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews.

Augmented Reality and Virtual Reality Market  Size, and Share

Market Size Estimation

In the complete engineering process, both top-down and bottom-up approaches, along with several data triangulation methods, were used to estimate and validate the size of the AR & VR market and other dependent submarkets. Key players in the market were determined through primary and secondary research. This entire research methodology involved the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as chief executive officers (CEOs), vice presidents (VPs), directors, and marketing executives for key insights (both qualitative and quantitative) about the AR & VR market. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market segments covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data was consolidated and supplemented with detailed inputs and analyses from MarketsandMarkets and presented in the report.

Augmented Reality and Virtual Reality Market: Bottom-Up Approach

Augmented Reality and Virtual Reality Market  Size, and Share

Data Triangulation

After arriving at the overall market size using the estimation processes explained above, the market was split into several segments and subsegments. Data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both demand and supply sides.

Report Objectives

  • To define, describe, and forecast the augmented reality (AR) and virtual reality (VR) market, in terms of value, based on offering, device type, application, and region
  • To define, describe, and forecast the AR and VR market, in terms of volume, based on device type
  • To define and describe the AR and VR market based on type
  • To forecast the market size for various segments with regard to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micromarkets1 with regard to individual growth trends, prospects, and contributions to the total market
  • To analyze the opportunities in the market for stakeholders by identifying high-growth segments in the AR and VR market
  • To study the evolution and timeline of the AR and VR market using the value chain analysis and market roadmaps
  • To analyze competitive developments such as funding, acquisitions, new product developments, and research and development (R&D) in the AR and VR market
  • To strategically profile key players, comprehensively analyze their core competencies2, and describe the competitive landscape of the market

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Product matrix that gives a detailed comparison of the product portfolio of each company
  • Profiling of additional market players (up to 5)
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