According to PRNewswire, AR and VR technologies were established as early as the 1990s, but it has not entered the mainstream technology development channel until recently. The market is currently in an emerging stage with a limited number of users, but the growth rate is increasing year by year. Compared to Google, Microsoft, Facebook, and other large players focused on how to capitalize on the industry, the biggest industry bottleneck is how to attract more new entrepreneurial teams to enter the AR and VR markets. Although there are already many companies engaged in this industry and trying to spread outlets around the world, the global AR and VR market expects a compound annual growth rate of 41.2% during 2016-2025 and brings over 1300 in 2025. Billion dollars in revenue.
The AR and VR markets are subdivided into several segments, including AR and VR technologies, components and user terminal industries. The component parts are in turn divided into sensors and other semiconductor components. The user terminal industry includes industrial content, educational content, media content, aerospace and defense content, entertainment content, retail content, and more. The entertainment industry is considered to be the largest application market for AR and VR, and is naturally expected to have a compound annual growth rate of 43.9% over the next decade. Subsequent developments in the AR and VR markets will also be integrated into geographic regions, covering North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
North America is the only one in the region with its highest AR and VR technology penetration in recent years. However, the Asia Pacific region is expected to replace North American hand in the near future. The main players on the market today are: Innovega, Inc., Augmented Pixels Co., Vuzix CorporaTIon, DAQRI LLC, Total Immersion, Blippar, Oculus VR LLC, EON Reality, Inc., Microsoft and Google.
The market income of AR and VR is obtained by analyzing the industry statistics of the above regions. The data obtained have also been initially investigated and verified. Combine the insights of industry experts and business leaders from major companies in these regions and draw conclusions. Big data visualization is a key driver in the AR and VR markets, and the application of the retail market has also played a role in fueling this boom. AR and VR technologies can be applied to multiple vertical markets such as education, entertainment, training, media, sports, and more. Regarding the main direction of future AR development, the general opinion is that it will completely change the way consumers shop in the near future. The emergence of AR will affect the mentality of consumers visiting physical stores, and instead provide consumers with an unprecedented stimulation experience.
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