MRRSE announces addition of new report "Virtual and Augmented Reality Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024" to its database

1. Virtual and Augmented Reality Market Detailed Analysis and
Forecast by 2024
Report Description
The global market for virtual reality (VR) and augmented
reality (AR) encompasses some of the most exciting and
highly anticipated technological advances of present times.

2. With a vast array of applications already being exploited in a
number of industries such as healthcare, education, retail,
and consumer goods, and many more expected to be seen in
the near future, virtual and augmented reality are on the
cusp of becoming mainstream in the digital world.
Transparency Market Research estimates that the market will
exhibit a staggering 92.5% CAGR over the period between
2016 and 2024. Fast pace of technological advancements in
terms of hardware as well as software components of VR and
AR devices and the vast funds invested by technology giants
towards the research and development in this field will
continue to make this field richer and more lucrative in the
near future.

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Hardware Segment Comprises Dominant Share in Revenue
On the basis of components, the hardware segment held the
dominant share of around 72.8% in 2015. The demand for
better virtual reality and augmented reality devices such as
head mounted display, glasses, console and sensor/input is
expected to contribute to the growth of hardware segment
over the forecast period. Among VR and AR markets, AR is
expected to register fastest growth in the forecast period. The
demand for AR in media and entertainment, gaming,

4. healthcare, and manufacturing end-use segments is expected
to contribute the growth of AR market.
Media and entertainment, gaming, and healthcare segments
are expected to contribute considerable market share over the
forecast period under end-use application segment. Further,
the demand for AR based head up display would constitute to
the growth of AR in automotive segment in the coming years.
The report also provides volume estimates for hardware
components such as head mounted display, glasses and
consoles.
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5. Developed Markets to Continue to Lead in Terms of
Adoption
North America, Europe and Asia Pacific are expected to be
potentially lucrative markets for AR and VR in the coming
years. Of the key components of typical VR and AR systems,
both service and software segments are expected to register
higher growth as compared to the hardware segment in these
regions over the forecast period. In 2015, North America
dominated, accounting for a nearly 79% of the global
market.

6. In 2015, media and entertainment segment held the largest
share among all end-use applications in Europe. The Asia
Pacific market is expected to exhibit a staggering 116.8%
CAGR over the forecast period. Hardware segment, followed
by the service segment, are expected to contribute the most
significant share in the global market by 2024. China would
be the most promising market in the Asia Pacific region over
the forecast period.
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Middle East and Africa (MEA) and South America are
expected to contribute relatively lower revenue to the global

7. market but exhibit steady growth over the forecast period.
The hardware segment for both MEA and South America is
expected to emerge as the most prominent segment in terms
of VR and AR components as compared to the services and
software segments by 2024.
Google, Inc., Samsung Electronics Co., Ltd., Microsoft
Corporation, Sony Interactive Entertainment LLC, Oculus VR
LLC, HTC Corporation, ZeroLight Ltd., EON Reality, Inc.,
Nokia Corporation, Barco N.V., Blippar.com Ltd., Aurasma
Ltd. (Hewlett-Packard Development Company. L.P), MindMaze
SA, Virtalis Ltd., Manus Machinae B.V., Independiente
Communications Ltd., VirZOOM, Inc. and NuFormer

8. Projection B.V. are major players profiled in the global VR
and AR market report.
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