Augmented and Virtual Reality Market

Augmented & Virtual Reality Companies - Sony Group Corporation (Japan) and META (US) are the Key Players

The augmented reality market is expected to reach USD 71.2 billion by 2028 from 25.1 billion in 2023, at a CAGR of 23.2% during the 2023- 2028 period. Whereas virtual reality market is expected to reach USD 29.6 billion by 2028 from 12.9 billion in 2023, at a CAGR of 18.0% during the 2023- 2028 period.

Augmented & Virtual Reality companies include:

  • Google (US),
  • Microsoft (US),
  • Sony Group Corporation (Japan),
  • META (US),
  • SAMSUNG (South Korea),
  • HTC Corporation (Taiwan),
  • Apple Inc. (US),
  • PTC Inc. (US),
  • Seiko Epson Corporation (Japan),
  • Lenovo (China),
  • Wikitude, a Qualcomm company (Austria),
  • EON Reality (US),
  • MAXST Co., Ltd. (South Korea),
  • Magic Leap, Inc. (US).

Other key players in this market are Blippar Group Limited(UK),  Atheer, Inc (US), Vuzix (US), CyberGlove Systems Inc. (US), Leap Motions (Ultraleap) (US), Penumbra, Inc. (US), Nintendo (Japan), PSICO SMART APPS, S.L. (Spain), Xiaomi (China), Panasonic Corporation (Japan), Scope AR (US), Continental AG (Germany), Virtually Live (Switzerland),  SpaceVR Inc (US), Intel Corporation (US), 3D Cloud by Marxent (US), WayRay AG (Switzerland), Craftars (Romania),  Talespin Reality Labs, Inc. (US), BidOn Games Studio (Ukraine), appentus technologies (India), ByteDance (China), and DPVR (China).

Sony Group Corporation

Sony, one of the largest conglomerates in the electronics industry, engages in the design, manufacture, development, and sale of electronic equipment. It also offers electronic instruments and devices for both consumer and industrial markets and provides global customer support services. The company's manufacturing facilities are primarily located in Asia. Sony is also involved in various financial services, including life and non-life insurance, as well as network services and advertising agency operations in Japan.

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Sony's business operations are categorized into several reportable segments, including Games and network Services, Entertainment, Technology and services, Imaging and sensing Solutions, Pictures, Music, Financial Services, and Others. The Games & Network Services segment is responsible for producing and selling home gaming products, software, and network services. The Imaging & Sensing Solutions segment offers digital imaging products and professional solutions. The Entertainment Technology & Services category encompasses television, audio, and video. Sony's Pictures segment includes motion pictures, television productions, and media networks. Additionally, the Music segment provides recorded music, music publishing, and visual media and platform services. The Financial Services segment represents life and non-life insurance businesses in the Japanese market, along with a bank business in Japan. The "Others" category encompasses various businesses, such as Internet-related services, PC operations, medical services, and disc manufacturing.

HTC Corporation

HTC Corporation is a consumer electronics company that specializes in creating, designing, and manufacturing smartphones, virtual reality (VR) devices, and other electronic products. The company is engaged in crafting personal computing devices in various forms, with smartphones being the core product supplied by upstream partners who provide essential components and operating systems. HTC reaches its customers through various channels, including telecom service providers, distributors, and retailers.

The company's notable achievement in the VR market was the introduction of the HTC VIVE, a headset VR device, developed in partnership with Valve Corporation (US). This device garnered recognition, securing over 22 awards at the 2016 Consumer Electronics Show (CES), including the prestigious Best of CES award. HTC continues to expand its VR product range alongside its presence in the Americas, Europe, and Asia. Among its subsidiary companies are Communications Global Certification (Taiwan), HTC America (US), High Tech Computer Asia Pacific (Singapore), and HTC America Innovation.


Meta, formerly known as Facebook is a social metaverse company that builds technology to help people connect, find communities, and grow businesses. Meta Platforms owns and operates a variety of social media, social networking, and messaging services, including Facebook, Instagram, WhatsApp, and Messenger. The company also owns the virtual reality (VR) company Oculus VR, and the augmented reality (AR) company Spark AR. One of its most notable products is the Oculus series, which includes Oculus Rift, Oculus Quest, and Oculus Go. These VR headsets have garnered widespread acclaim for their immersive experiences, high-quality visuals, and broad content library. In education, Meta's initiatives have introduced interactive and engaging learning tools, enabling students to explore historical sites, conduct virtual experiments, and receive personalized tutoring.

The company conducts its operations through two distinct segments: the "Family of Apps" (FOA) and "Reality Labs" (RL). Within the FOA segment, the company oversees the management and development of popular platforms such as Facebook, Instagram, Messenger, WhatsApp, and various related services. In contrast, the RL segment is dedicated to the creation and provision of consumer hardware, software, and content in the augmented and virtual reality (AR/VR) space.


ByteDance is a Chinese technology company that specializes in developing and operating popular social media platforms and apps, such as TikTok, Douyin, and Toutiao. The company was founded in 2012 and is headquartered in Beijing, China. ByteDance is also investing in virtual reality (VR) and augmented reality (AR) technology. The company acquired Pico, a Chinese VR headset maker, in 2021. ByteDance reportedly plans to expand its VR operations in the US and invest "tons of money" to develop VR-related content. The company has posted over 40 job listings for Pico Studios in California and Washington, suggesting an increased focus on VR hardware and game development.

ByteDance's investment in VR and AR technology shows the company's commitment to expanding its offerings beyond social media platforms. With its financial backing and global reach, ByteDance has the potential to become a major player in the VR and AR industry in the coming years.


Google is a global technology leader known for its primary areas of focus, which include advertising, search, operating systems, platforms, enterprise, and hardware products. One of its key offerings is the Search segment, where it provides access to a vast array of online content through its search engine. Google operates under Alphabet, Inc., which serves as its parent organization. Alphabet is a media and high-tech company that specializes in augmented reality (AR) and virtual reality (VR) technologies. The company's revenue is divided into two main operating segments: Google and Other Bets. Google is segmented as Google services and Google Cloud and all non-Google businesses collectively as other bets. Whereas Google Services is our relevant business segment. Google generates the majority of the revenue and encompasses core products like Ads, Search, Maps, Chrome, Android, YouTube, Google Play, Commerce, Hardware, and Gmail, the remaining businesses fall under the collective term "Other Bets."

Google's engagement with AR technology is notable. Beyond standalone products like AR eyeglasses called Google Glass and the AR computing platform Tango, the company is integrating AR capabilities into existing products. This includes features such as AR in Google Search, Live View Beta in Google Maps, and AR functionality in the Pixel Camera. Google's efforts also extend to the development of AR/VR products, encompassing head-mounted devices, software development kits (SDKs), software solutions, and various applications.

Related Reports:

Augmented & Virtual Reality Market by Enterprise (Small, Medium, Large), Technology ( AR and VR), Offering (Hardware, Software), Device Type (AR, VR Devices), Application (AR Application, VR Application) and Region - Global Forecast to 2028

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Augmented and Virtual Reality Market Size,  Share & Growth Report
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SE 2288
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