Global Augmented Reality and Virtual Reality Apps Market Insights 2020 in-depth study on the current state of the augmented reality and virtual reality apps
What is the difference between augmented reality and virtual reality?
AR and VR technologies were incepted in early 90`s, but the technologies are getting into mainstream in recent years. As the market is in emerging stage the number of players are limited and growing year on year, limited entry barrier at present is encouraging new ventures in AR and VR market, while many big players such as Google, Inc., Microsoft, Facebook, and many others are focusing to capitalize the market through their products and services. Though there are many other enterprises which have been working on these technologies are yet to spread their footprints across the globe.
The global AR and VR market is expected to grow at a CAGR of 41.2% during the forecast period 2016 – 2025 and accounts for US$ 130.01 Bn in the year 2025.Top augmented reality & virtual reality company are Artoolworks, Inc., Augmented Pixels Co., EON Reality, Inc., Innovega, Inc
Smart phones are the must have digital devices today, they have changed the way we communicate, travel, design, run business, and many more. In recent years smartphones revolutionized the world, and still the ongoing R&Ds to launch advanced features, improved and more customer centric and enterprise level applications holds the market for years to go. AR and VR are the technologies which immerse the user into virtual world and allows to interact with the virtual objects being in real environment. The growing trends in smartphones and tablets applications will encourage more AR and VR content going ahead, and this is estimated to grow alongside the growth of AR and VR penetration in various enterprise applications such as advertisements, mass communication, sales and marketing, and gamification which are wide area of interest.
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