Global Augmented Reality (AR) and Virtual Reality (VR) Market - Earlington, KY

Global Augmented Reality (AR) and Virtual Reality (VR) Market was valued US$ XX Bn in 2019 and is expected to reach US$ X4X.X Bn by 2027, at CAGR of X6.X1% during forecast period.



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Augmented Reality and Virtual Reality Market Overview:

The world is totally absorbed with the two technologies, AR and VR. An incredible combination of these two has come into existence, which is a comprehensive reality, recognized as mixed reality. It is a smooth crossing among AR & VR and associations the best of both virtual worlds. Rising awareness about this technology between the consumers in both developed as well as emerging economy, rapid adaptation of AR and VR technology between several industry domains along with a merger of AR and VR to develop the mixed reality that can be employed for prospective applications, propelling the growth of the market. VR supports application of computer technology in order to develop a virtual environment. On the contrary, AR coats computer-created developments over a present reality that increases interaction ability of this system.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Augmented Reality (AR) and Virtual Reality (VR) Market Dynamics
Growth Drivers

Global AR and VR market has been driven by several key factors, mostly rapid growth in implementation of tablet computers and smartphones, technological development, extreme concentration of key players in the AR and VR system along with broad mobility and versatility. It has been observed that the AR and VR systems are becoming accessible to consumers via several mediums like platforms and devices. Additionally, smartphones are widely being used as input expedients for observing the VR situation, particularly for the virtual reality gaming applications. Furthermore, the rising penetration of smartphones and tablet computers is widely providing towards the growth of the AR and VR market across the globe. The tablet and mobile based AR and VR technology is witnessing rapid application form the key players working in education, interior designing, e-commerce, architecture, and furnishing. These factors are thereby attributing towards the prompt growth of the AR and VR market globally.
Challenges

Key factors hampering the growth of the AR and VR market are advancement of user-friendly VR systems together with disturbing health concerns because of the use of AR and VR technology. Certain health anxieties that are detected from the use of this system comprise motion sickness, eyestrain, and nausea that are usually extreme for health due to the persistent effect on the eyes. Also, because of these health