Global Augmented & Virtual Reality Market Size is valued at USD 114.1 Billion in 2024 and is predicted to reach USD 2131.5 Billion by the year 2034 at a 38.4% CAGR during the forecast period for 2025-2034.
AR and VR technologies have transformative potential in healthcare, education, entertainment, and business industries, offering new ways to engage users and provide innovative solutions. Small and medium-sized enterprises (MSMEs) in today's market increasingly rely on this technology to differentiate themselves, stand out from the crowd, and win and keep customers. Industries are aggressively investigating uses for augmented reality (AR) technology in training, maintenance, support, and monitoring. Growth in the industry is expected to be spurred by the proliferation of smartphones and the popularity of apps. Furthermore, virtual reality (VR) technology allows for a completely new and unique experience by completely isolating users from their surroundings. In most cases, this is accomplished using a virtual reality (VR) headset equipped with a high-definition screen, a motion-tracking sensor, and sometimes even separate hand controllers.
However, the market growth is hampered by the strict regulatory criteria for safety and the lack of norms and protocols in the augmented & virtual reality market. The network's foundation becomes critical in determining the feasibility and quality of user experiences. Since increasingly more augmented reality apps are moving to the cloud, having a reliable and low-latency connection is more important than ever. This infrastructure is the backbone for continuous two-way communication between the digital and physical spheres. The outbreak and spread of COVID-19 have upset and damaged the stocks of companies manufacturing and supplying components for augmented and virtual reality devices because of the lockdowns imposed in several countries due to the COVID-19 outbreak, suppliers of components for augmented and virtual reality devices saw their stock levels plummet.
The augmented & virtual reality market is segmented based on enterprise, technology, offering, device, and application. As per the segment enterprise, the market is segmented into small, medium, and large. By technology, the market is segmented into AR and VR. According to the offering, the market is segmented into hardware and software. The hardware segment includes Sensors, Semiconductor Components, Displays and projectors, Position Tracker, Cameras, and Others. By device type, the market is segmented into AR devices, which include Head-Mounted Displays and head-up Displays, Whereas VR devices consist of Head-Mounted Displays, Gesture Tracking Devices, and Projectors and display Walls. The application segment comprises AR Applications and VR Applications. AR Applications include Consumer, Commercial, Enterprise, Healthcare, Aerospace and defence, Energy, Automotive, and Others. VR Application also consists of Consumer, Commercial, Enterprise, Healthcare, Aerospace and defence, Energy, Automotive, and Others.
The hardware augmented & virtual reality market is expected to hold a major global market share in 2024. Hardware is purpose-built to execute a task at lightning speed, and it can often accomplish this more swiftly than software alone. Hardware is more error- and corruption-resistant than software.
The VR application segment is projected to grow rapidly in the global augmented & virtual reality market. Virtual reality can aid in the understanding of fundamental ideas for both students and professionals. Learners can control their learning rate thanks to technological advancements. Understanding and remembering knowledge is greatly enhanced when students are able to picture it, especially in countries like the US, Germany, the UK, China, and India.
The Asia Pacific augmented & virtual reality market is expected to record the maximum market share in revenue in the near future. It can be attributed to corporations embracing innovation with open arms. It is the most lucrative market, generating a considerable share of AR's total sales. The proliferation of augmented reality devices among corporate users to boost productivity and accuracy has been a major element in the industry's growth. In addition, North America is projected to grow rapidly in the global augmented & virtual reality market because of rising demand for digital solutions in sectors including healthcare, retail, and transportation.
|
Report Attribute |
Specifications |
|
Market Size Value In 2024 |
USD 114.1 Billion |
|
Revenue Forecast In 2034 |
USD 2131.5 Billion |
|
Growth Rate CAGR |
CAGR of 38.4% from 2025 to 2034 |
|
Quantitative Units |
Representation of revenue in US$ Mn,and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Enterprise, Technology, Offering, Device Type, and Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
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), 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) |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Augmented & Virtual Reality Market Snapshot
Chapter 4. Global Augmented & Virtual Reality Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: By Enterprise Estimates & Trend Analysis
5.1. By Enterprise, & Market Share, 2024 & 2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Enterprise:
5.2.1. Small Enterprises
5.2.2. Medium Enterprises
5.2.3. Large Enterprises
Chapter 6. Market Segmentation 2: By Technology Estimates & Trend Analysis
6.1. By Technology & Market Share, 2024 & 2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Technology:
6.2.1. Augmented Reality Technology
6.2.2. Virtual Reality Technology
Chapter 7. Market Segmentation 3: By Offering Estimates & Trend Analysis
7.1. By Offering & Market Share, 2024 & 2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Offering:
7.2.1. Hardware
7.2.1.1. Sensors
7.2.1.2. Semiconductor Components
7.2.1.3. Displays & Projectors
7.2.1.4. Position Tracker
7.2.1.5. Cameras
7.2.1.6. Others
7.2.2. Software
Chapter 8. Market Segmentation 4: By Device Type Estimates & Trend Analysis
8.1. By Device Type & Market Share, 2024 & 2034
8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Device Type:
8.2.1. Augmented Reality Devices
8.2.1.1. Head-Mounted Displays
8.2.1.2. Head-Up Displays
8.2.2. Virtual Reality Devices
8.2.2.1. Head-Mounted Displays
8.2.2.2. Gesture Tracking Devices
8.2.2.3. Projectors & Display Walls
Chapter 9. Market Segmentation 5: By Application Estimates & Trend Analysis
9.1. By Application & Market Share, 2024 & 2034
9.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Application:
9.2.1. Augmented Reality Application
9.2.1.1. Consumer
9.2.1.2. Commercial
9.2.1.3. Enterprise
9.2.1.4. Healthcare
9.2.1.5. Aerospace & Defense
9.2.1.6. Energy
9.2.1.7. Automotive
9.2.1.8. Others
9.2.2. Virtual Reality Application
9.2.2.1. Consumer
9.2.2.2. Commercial
9.2.2.3. Enterprise
9.2.2.4. Healthcare
9.2.2.5. Aerospace & Defense
9.2.2.6. Others
9.2.3. Indoor Farms
9.2.4. Others
Chapter 10. Augmented & Virtual Reality Market Segmentation 6: Regional Estimates & Trend Analysis
10.1. North America
10.1.1. North America Augmented & Virtual Reality Market revenue (US$ Million) estimates and forecasts By Enterprise, 2021-2034
10.1.2. North America Augmented & Virtual Reality Market revenue (US$ Million) estimates and forecasts By Technology, 2021-2034
10.1.3. North America Augmented & Virtual Reality Market revenue (US$ Million) estimates and forecasts By Offering, 2021-2034
10.1.4. North America Augmented & Virtual Reality Market revenue (US$ Million) estimates and forecasts By Device Type, 2021-2034
10.1.5. North America Augmented & Virtual Reality Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
10.1.6. North America Augmented & Virtual Reality Market revenue (US$ Million) estimates and forecasts by country, 2021-2034
10.2. Europe
10.2.1. Europe Augmented & Virtual Reality Market revenue (US$ Million) By Enterprise, 2021-2034
10.2.2. Europe Augmented & Virtual Reality Market revenue (US$ Million) By Technology, 2021-2034
10.2.3. Europe Augmented & Virtual Reality Market revenue (US$ Million) By Offering, 2021-2034
10.2.4. Europe Augmented & Virtual Reality Market revenue (US$ Million) By Device Type, 2021-2034
10.2.5. Europe Augmented & Virtual Reality Market revenue (US$ Million) By Application, 2021-2034
10.2.6. Europe Augmented & Virtual Reality Market revenue (US$ Million) by country, 2021-2034
10.3. Asia Pacific
10.3.1. Asia Pacific Augmented & Virtual Reality Market revenue (US$ Million) By Enterprise, 2021-2034
10.3.2. Asia Pacific Augmented & Virtual Reality Market revenue (US$ Million) By Technology, 2021-2034
10.3.3. Asia Pacific Augmented & Virtual Reality Market revenue (US$ Million) By Offering, 2021-2034
10.3.4. Asia Pacific Augmented & Virtual Reality Market revenue (US$ Million) By Device Type, 2021-2034
10.3.5. Asia Pacific Augmented & Virtual Reality Market revenue (US$ Million) By Application, 2021-2034
10.3.6. Asia Pacific Augmented & Virtual Reality Market revenue (US$ Million) by country, 2021-2034
10.4. Latin America
10.4.1. Latin America Augmented & Virtual Reality Market revenue (US$ Million) By Enterprise, (US$ Million) 2021-2034
10.4.2. Latin America Augmented & Virtual Reality Market revenue (US$ Million) By Technology, (US$ Million) 2021-2034
10.4.3. Latin America Augmented & Virtual Reality Market revenue (US$ Million) By Offering, (US$ Million) 2021-2034
10.4.4. Latin America Augmented & Virtual Reality Market revenue (US$ Million) By Device Type, (US$ Million) 2021-2034
10.4.5. Latin America Augmented & Virtual Reality Market revenue (US$ Million) By Application, (US$ Million) 2021-2034
10.4.6. Latin America Augmented & Virtual Reality Market revenue (US$ Million) by country, 2021-2034
10.5. Middle East & Africa
10.5.1. Middle East & Africa Augmented & Virtual Reality Market revenue (US$ Million) By Enterprise, (US$ Million) 2021-2034
10.5.2. Middle East & Africa Augmented & Virtual Reality Market revenue (US$ Million) By Technology, (US$ Million) 2021-2034
10.5.3. Middle East & Africa Augmented & Virtual Reality Market revenue (US$ Million) By Offering, (US$ Million) 2021-2034
10.5.4. Middle East & Africa Augmented & Virtual Reality Market revenue (US$ Million) By Device Type, (US$ Million) 2021-2034
10.5.5. Middle East & Africa Augmented & Virtual Reality Market revenue (US$ Million) By Application, (US$ Million) 2021-2034
10.5.6. Middle East & Africa Augmented & Virtual Reality Market revenue (US$ Million) by country, 2021-2034
Chapter 11. Competitive Landscape
11.1. Major Mergers and Acquisitions/Strategic Alliances
11.2. Company Profiles
11.2.1. Google (US)
11.2.2. Microsoft (US)
11.2.3. Sony Group Corporation (Japan)
11.2.4. META (US)
11.2.5. SAMSUNG (South Korea)
11.2.6. HTC Corporation (Taiwan)
11.2.7. Apple Inc. (US)
11.2.8. PTC Inc. (US)
11.2.9. Seiko Epson Corporation (Japan)
11.2.10. Lenovo (China)
11.2.11. Wikitude, a Qualcomm company (Austria)
11.2.12. EON Reality (US)
11.2.13. MAXST Co., Ltd. (South Korea)
11.2.14. Magic Leap, Inc. (US)
11.2.15. Blippar Group Limited(UK)
11.2.16. Atheer, Inc (US)
11.2.17. Vuzix (US)
11.2.18. CyberGlove Systems Inc. (US)
11.2.19. Leap Motions (Ultraleap) (US)
11.2.20. Penumbra, Inc. (US)
11.2.21. Nintendo (Japan)
11.2.22. PSICO SMART APPS, S.L. (Spain)
11.2.23. Xiaomi (China)
11.2.24. Panasonic Corporation (Japan)
11.2.25. Scope AR (US)
11.2.26. Continental AG (Germany)
11.2.27. Virtually Live (Switzerland)
11.2.28. SpaceVR Inc (US)
11.2.29. Intel Corporation (US)
11.2.30. 3D Cloud by Marxent (US)
11.2.31. WayRay AG (Switzerland)
11.2.32. Craftars (Romania)
11.2.33. Talespin Reality Labs, Inc. (US)
11.2.34. BidOn Games Studio (Ukraine)
11.2.35. appentus technologies (India)
11.2.36. ByteDance (China)
11.2.37. DPVR (China)
Augmented & Virtual Reality Market By Enterprise-
Augmented & Virtual Reality Market By Technology-
Augmented & Virtual Reality Market By Offering-
Augmented & Virtual Reality Market By Device Type
Augmented & Virtual Reality Market By Application-
Augmented & Virtual Reality Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
