Virtual reality is a computer-generated simulation, and is meant for the recreation of a real-world environment. The technology provides an immersive experience to the user. On the other hand, augmented reality is an enhancement on the top, wherein the users have the ability to interact with the simulated environment.
Both, augmented and virtual realities are based on the same type of technology, and has applications in media & entertainment, gaming, education, flight simulation, commercial, industrial, and medical science & technology. The Augmented and Virtual Reality technology will further grow with the development of better hardware, software and motion control. The market is gaining traction due to the high adoption rate among tech-savvy consumers. As such, several major tech vendors are launching more and more applications and products based on these technologies.
The rise in demand for head-mounted displays for entertainment, demand for smart devices with embedded VR and AR features, and rise in popularity of e-commerce are some of the major drivers for the growth of AR & VR market. The Augmented and Virtual Reality market is segmented by technology, components, verticals, regions. Some of the Augmented and Virtual Reality market vendors are Microsoft, Google, Oculus, Vuzix, Samsung, EON Reality, Blippar, Magic Leap and Infinity Augmented Reality.
The study covers and analyses the “Augmented and Virtual Reality” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiative, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.