The global augmented and virtual reality market expected to reach $571.42 billion by 2025

Augmented and Virtual Reality Market Outlook - 2025

Augmented reality is a technology that leverages the user's actual surroundings and overlays digital or virtual content or information on top of it to provide a real-time immersive digital experience. Virtual reality is a computer-generated three-dimensional environment that totally immerses users in a virtual world without allowing them to view the actual world. Augmented reality applications are created using specific 3D tools that allow developers to seamlessly blend contextual or digital content with the actual world. Virtual reality provides users with a realistic artificial world experience in an interactive virtual environment.



The growth of the augmented and virtual reality market is boosted by the increased penetration of smartphones and linked devices in numerous application areas, as well as the development of the gaming industry. The global augmented and virtual reality market was worth $11.35 billion in 2017, and the market is expected to reach $571.42 billion by 2025, rising at a CAGR of 63.3 percent from 2018 to 2025.

Because of the rapid adoption of new technologies by the general public and the presence of multiple augmented and virtual reality companies, North America dominated the total industry in 2017. In North America, the United States is a major contributor to the expansion of the augmented and virtual reality sector. However, due to increased acceptance of technologically advanced solutions, expanded application areas among end-use industries, and increased smartphone penetration in emerging economies such as China and India, Asia-Pacific augmented and virtual reality market is predicted to grow at the fastest rate over the projection period.


Top influencing factors

The market is predicted to grow as smartphone and mobile gaming penetration rises, as well as the implementation of augmented and virtual reality solutions in education. However, during the projection period, the market is likely to be hampered by a lack of good user experience design and poor growth in underdeveloped economies. On the contrary, an increase in market investments is expected to be in augmented and virtual reality market opportunity.

Cost-efficient benefits of augmented and virtual reality-based solutions

Because it uses augmented and virtual reality enabled solutions to recreate real events, augmented and virtual reality offers a cost-effective and efficient alternative in training and skill development. For example, using an actual aircraft to train a pilot in civil aviation or military applications is more expensive.It may also be harmful to people. Surround and virtual reality solutions, on the other hand, provide a virtual environment that is identical to the real world, allowing a learner to understand and solve problems through strategic mapping. Furthermore, using humans in healthcare for the teaching of students, nurses, and other medical professionals is immoral and potentially dangerous.. Thus, augmented and virtual reality-based solutions provide valid tools to train medical professionals without compromising and harming one’s life.

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