Market Insights report
The Augmented Reality (AR) market includes hardware, which consists of glasses, software, which includes three different areas, namely gaming, social media and eCommerce. Furthermore, the market includes AR Advertising. The same applies to the Virtual Reality (VR) market, which consists of hardware, software and advertising. VR hardware can be divided into standalone and tethered head-mounted displays, while VR software consists of gaming and video. The worldwide revenue of US$25.2 billion in 2022 is expected to grow to US$52.0 billion up to 2027.
What's included?
The augmented reality (AR) and virtual reality (VR) market encompasses the development, distribution, and use of technologies and applications that enable us to augment the real world around us with digital elements or fully immerse ourselves in a virtual world. These technologies are used in various fields, such as entertainment, education, industry, retail, and medicine. The market for AR and VR is growing rapidly around the world as more and more companies and organizations recognize and embrace the possibilities of these technologies.
With this report we provide a comprehensive overview of the state of the AR&VR market as it is today as well as a prognosis with detailed information on six different market segments. Besides all relevant market figures such as total and average revenues, and user for the years from 2017 to 2027, we furthermore give detailed insights on current trends, key players, and important background knowledge of the AR&VR market.
Comparing the three major AR & VR markets – the U.S., China, and Europe – the U.S. is the biggest market in 2022 and will still be by 2027. In the U.S. market, revenues of US$7.1 billion are generated in 2022. With a CAGR of 15.1%, the market is expected to exceed revenues of US$14.2 billion by 2027. The second biggest AR&VR market is Europe with a market volume of US$6.4 billion in 2022. Growth rates of 16.3% annually will lead to revenues of US$13.6 billion in 2027. The market in China is worth US$5.4 billion in 2022. Revenues are expected to grow at a CAGR of 14.7% by 2027, resulting in revenues of US$10.8 billion.
Note: CAGR: Compound Annual Growth Rate
AR&VR overview
AR&VR overview
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