Global Augmented Reality and Virtual Reality (AR and VR) Market 2020 Worldwide Industry Size, Key Vendors, Growth Drivers, Opportunity, Forecast to 2025.
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Augmented Reality and Virtual Reality Market:
The global augmented reality and virtual reality (AR and VR) market was valued at more than US$ 5,000 Mn in 2016 and is expected to reach a market valuation close to US$ 120 Bn by 2025 end. In terms of value, the global AR and VR market is expected to expand at a CAGR of 42.2% over the forecast period. The global AR and VR market is expected to represent incremental dollar opportunity close to US$ 115 Bn between 2017 and 2025.
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Some of the major technology companies such as Google Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., and Apple Inc. are investing significantly in the development of new AR & VR products as a result of increasingly high demand from various industries and sectors including gaming and healthcare. Some of these companies are also funding several start-ups and providing necessary infrastructure as well to promote this technology among consumers.