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Global Augmented and Virtual Reality Market Size, Share, Trends, Forecast: By Technology: Augmented Reality, Virtual Reality; By Device Type: Augmented Reality Devices, Virtual Reality Devices; By Enterprise Size: Small and Medium Enterprises, Large Enterprises; By Application; By End Use; Regional Analysis; Competitive Landscape; 2024-2032

Global Augmented and Virtual Reality Market Outlook

The global augmented and virtual reality market size reached approximately USD 27.79 billion in 2023. The market is further projected to grow at a CAGR of 24.6% between 2024 and 2032, reaching a value of USD 201.13 billion by 2032.

Key Trends in the Market

Augmented reality is the technology that superimposes the computer-generated information on top of the real world. Virtual reality provides believable and real experiences in a virtual or synthetic manner. In virtual reality, the users are controlled by the system, whereas, in augmented reality the users control their presence in the real world.

The augmented and virtual reality market growth is aided by the increased adoption by the healthcare sector due to the provision of enhanced patient experience, psychological treatment and relief, interactive patient information, and advanced risk assessment and diagnostics, among others.

Rising utilisation by various e-commerce and online retail platforms to allow the customers to virtually try on products including jewellery, makeup, and clothes, among others is further boosting the market expansion. The provision of these technologies boosts consumer experience by allowing the customers to make an informed decision.

The incorporation of augmented and virtual reality in manufacturing, aerospace and defence, and automotive sectors is increasing due to their ability to provide instructional training to defence personnels, mechanics, technicians, and pilots, among others by engaging them in a simulated environment.

Global Augmented and Virtual Reality Market Analysis

On the basis of technology, the market is bifurcated into augmented reality and virtual reality, with augmented reality sub-divided by type into market-based augmented reality and market-less augmented reality and virtual reality sub-divided by type into non-immersive systems and semi-immersive and fully immersive technology.

Based on device type, the market is categorised into augmented reality devices and virtual reality devices, with augmented reality devices sub-divided by type into head-mounted displays, head-up displays, and handheld devices and virtual reality devices sub-divided by type into head-mounted displays, gesture-tracking devices, and projector and display walls.

On the basis of enterprise size, the augmented and virtual reality market segmentation includes small and medium enterprises and large enterprises. Based on application, the market is classified into consumer and enterprises. On the basis of end use, the market is segregated into gaming, entertainment and sports, aerospace and defence, healthcare, education, manufacturing, retail, and automotive, among others. Based on region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global augmented and virtual reality market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

Google LLC

Microsoft Corporation

Apple Inc.

Meta Platforms, Inc.

Samsung Electronics Co., Ltd.

Lenovo Group Ltd.

Seiko Epson Corporation

HTC Corporation

Sony Corporation

Magic Leap, Inc.

Other

Market Share by Technology

Virtual reality is expected to account for a significant augmented and virtual reality market share in the coming years. This growth can be attributed to the rising demand for virtual reality HMDs for industrial applications. The technology aids in reproduction of the architecture of the actual surroundings virtually, removing complexities in tasks. Additionally, utilisation of virtual reality in educational settings and classrooms aids educators in conducting motor and reasoning activities, supporting the market expansion.

Market Share by Region

The Asia Pacific is anticipated to witness significant growth over the forecast period owing to the expansion of the manufacturing, automotive, gaming, and retail sectors in the region. The prominent presence of low-cost hardware manufacturers and increased investments by the various key market players in the Asia Pacific are offering lucrative growth opportunities to the market. The increasing utilisation of virtual and augmented reality in factories due to the rising automation is boosting the augmented and virtual reality market demand.

Competitive Landscape

Google LLC, headquartered in California, United States, is a multinational company that is involved in augmented and virtual reality, artificial intelligence, online advertising, search engine technology, and quantum computing, among others.

Microsoft Corporation, founded in 1975 is a software development company that is based in Washington, United States. The company specialises in virtual and augmented reality, educational software, and artificial intelligence, among others.

Apple Inc. is known for manufacturing, designing, and marketing personal computers, wearables and accessories, and smartphones, among others. The company develops computers that feature innovative graphical user interface and is headquartered in California, United States.

Other augmented and virtual reality market key players include Meta Platforms, Inc., Samsung Electronics Co., Ltd., Lenovo Group Ltd., Seiko Epson Corporation, HTC Corporation, Sony Corporation, and Magic Leap, Inc., among others.

Key Highlights of the Report

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Scope of the Report	Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment: Technology Device Type Enterprise Size Application End Use Region
Breakup by Technology	Augmented Reality Virtual Reality
Breakup by Device Type	Augmented Reality Devices Virtual Reality Devices
Breakup by Enterprise Size	Small and Medium Enterprises Large Enterprises
Breakup by Application	Consumer Enterprises
Breakup by End Use	Gaming Entertainment and Sports Aerospace and Defence Healthcare Education Manufacturing Retail Automotive Others
Breakup by Region	North America United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOT Analysis Porter's Five Forces Analysis Key Indicators for Demand Key Indicators for Price
Competitive Landscape	Market Structure Company Profiles Company Overview Product Portfolio Demographic Reach and Achievements Certifications
Companies Covered	Google LLC Microsoft Corporation Apple Inc. Meta Platforms, Inc. Samsung Electronics Co., Ltd. Lenovo Group Ltd. Seiko Epson Corporation HTC Corporation Sony Corporation Magic Leap, Inc. Other

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Market Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global Augmented and Virtual Reality Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Augmented and Virtual Reality Historical Market (2018-2023)
   8.3   Global Augmented and Virtual Reality Market Forecast (2024-2032)
   8.4   Global Augmented and Virtual Reality Market by Technology
       8.4.1   Augmented Reality
           8.4.1.1   Historical Trend (2018-2023)
           8.4.1.2   Forecast Trend (2024-2032)
           8.4.1.3   Breakup by Type
               8.4.1.3.1   Marker-Based Augmented Reality
               8.4.1.3.2   Marker-Less Augmented Reality
       8.4.2   Virtual Reality
           8.4.2.1   Historical Trend (2018-2023)
           8.4.2.2   Forecast Trend (2024-2032)
           8.4.2.3   Breakup by Type
               8.4.2.3.1   Non-Immersive Systems
               8.4.2.3.2   Semi-Immersive and Fully Immersive Technology
   8.5   Global Augmented and Virtual Reality Market by Device Type
       8.5.1   Augmented Reality Devices
           8.5.1.1   Historical Trend (2018-2023)
           8.5.1.2   Forecast Trend (2024-2032)
           8.5.1.3   Breakup by Type
               8.5.1.3.1   Head-Mounted Displays
               8.5.1.3.2   Head-Up Displays
               8.5.1.3.3   Handheld Devices
       8.5.2   Virtual Reality Devices
           8.5.2.1   Historical Trend (2018-2023)
           8.5.2.2   Forecast Trend (2024-2032)
           8.5.2.3   Breakup by Type
               8.5.2.3.1   Head-Mounted Displays
               8.5.2.3.2   Gesture-tracking Devices
               8.5.2.3.3   Projector and Display Walls
   8.6   Global Augmented and Virtual Reality Market by Enterprise Size
       8.6.1   Small and Medium Enterprises
           8.6.1.1   Historical Trend (2018-2023)
           8.6.1.2   Forecast Trend (2024-2032)
       8.6.2   Large Enterprises
           8.6.2.1   Historical Trend (2018-2023)
           8.6.2.2   Forecast Trend (2024-2032)
   8.7   Global Augmented and Virtual Reality Market by Application
       8.7.1   Consumer
           8.7.1.1   Historical Trend (2018-2023)
           8.7.1.2   Forecast Trend (2024-2032)
       8.7.2   Enterprises
           8.7.2.1   Historical Trend (2018-2023)
           8.7.2.2   Forecast Trend (2024-2032)
   8.8   Global Augmented and Virtual Reality Market by End Use
       8.8.1   Gaming
           8.8.1.1   Historical Trend (2018-2023)
           8.8.1.2   Forecast Trend (2024-2032)
       8.8.2   Entertainment and Sports
           8.8.2.1   Historical Trend (2018-2023)
           8.8.2.2   Forecast Trend (2024-2032)
       8.8.3   Aerospace and Defence
           8.8.3.1   Historical Trend (2018-2023)
           8.8.3.2   Forecast Trend (2024-2032)
       8.8.4   Healthcare
           8.8.4.1   Historical Trend (2018-2023)
           8.8.4.2   Forecast Trend (2024-2032)
       8.8.5   Education
           8.8.5.1   Historical Trend (2018-2023)
           8.8.5.2   Forecast Trend (2024-2032)
       8.8.6   Manufacturing
           8.8.6.1   Historical Trend (2018-2023)
           8.8.6.2   Forecast Trend (2024-2032)
       8.8.7   Retail
           8.8.7.1   Historical Trend (2018-2023)
           8.8.7.2   Forecast Trend (2024-2032)
       8.8.8   Automotive
           8.8.8.1   Historical Trend (2018-2023)
           8.8.8.2   Forecast Trend (2024-2032)
       8.8.9   Others
   8.9   Global Augmented and Virtual Reality Market by Region
       8.9.1   North America
           8.9.1.1   Historical Trend (2018-2023)
           8.9.1.2   Forecast Trend (2024-2032)
       8.9.2   Europe
           8.9.2.1   Historical Trend (2018-2023)
           8.9.2.2   Forecast Trend (2024-2032)
       8.9.3   Asia Pacific
           8.9.3.1   Historical Trend (2018-2023)
           8.9.3.2   Forecast Trend (2024-2032)
       8.9.4   Latin America
           8.9.4.1   Historical Trend (2018-2023)
           8.9.4.2   Forecast Trend (2024-2032)
       8.9.5   Middle East and Africa
           8.9.5.1   Historical Trend (2018-2023)
           8.9.5.2   Forecast Trend (2024-2032)
9   North America Augmented and Virtual Reality Market Analysis
   9.1   United States of America
       9.1.1   Historical Trend (2018-2023)
       9.1.2   Forecast Trend (2024-2032)
   9.2   Canada
       9.2.1   Historical Trend (2018-2023)
       9.2.2   Forecast Trend (2024-2032)
10   Europe Augmented and Virtual Reality Market Analysis
   10.1   United Kingdom
       10.1.1   Historical Trend (2018-2023)
       10.1.2   Forecast Trend (2024-2032)
   10.2   Germany
       10.2.1   Historical Trend (2018-2023)
       10.2.2   Forecast Trend (2024-2032)
   10.3   France
       10.3.1   Historical Trend (2018-2023)
       10.3.2   Forecast Trend (2024-2032)
   10.4   Italy
       10.4.1   Historical Trend (2018-2023)
       10.4.2   Forecast Trend (2024-2032)
   10.5   Others
11   Asia Pacific Augmented and Virtual Reality Market Analysis
   11.1   China
       11.1.1   Historical Trend (2018-2023)
       11.1.2   Forecast Trend (2024-2032)
   11.2   Japan
       11.2.1   Historical Trend (2018-2023)
       11.2.2   Forecast Trend (2024-2032)
   11.3   India
       11.3.1   Historical Trend (2018-2023)
       11.3.2   Forecast Trend (2024-2032)
   11.4   ASEAN
       11.4.1   Historical Trend (2018-2023)
       11.4.2   Forecast Trend (2024-2032)
   11.5   Australia
       11.5.1   Historical Trend (2018-2023)
       11.5.2   Forecast Trend (2024-2032)
   11.6   Others
12   Latin America Augmented and Virtual Reality Market Analysis
   12.1   Brazil
       12.1.1   Historical Trend (2018-2023)
       12.1.2   Forecast Trend (2024-2032)
   12.2   Argentina
       12.2.1   Historical Trend (2018-2023)
       12.2.2   Forecast Trend (2024-2032)
   12.3   Mexico
       12.3.1   Historical Trend (2018-2023)
       12.3.2   Forecast Trend (2024-2032)
   12.4   Others
13   Middle East and Africa Augmented and Virtual Reality Market Analysis
   13.1   Saudi Arabia
       13.1.1   Historical Trend (2018-2023)
       13.1.2   Forecast Trend (2024-2032)
   13.2   United Arab Emirates
       13.2.1   Historical Trend (2018-2023)
       13.2.2   Forecast Trend (2024-2032)
   13.3   Nigeria
       13.3.1   Historical Trend (2018-2023)
       13.3.2   Forecast Trend (2024-2032)
   13.4   South Africa
       13.4.1   Historical Trend (2018-2023)
       13.4.2   Forecast Trend (2024-2032)
   13.5   Others
14   Market Dynamics
   14.1   SWOT Analysis
       14.1.1   Strengths
       14.1.2   Weaknesses
       14.1.3   Opportunities
       14.1.4   Threats
   14.2   Porter’s Five Forces Analysis
       14.2.1   Supplier’s Power
       14.2.2   Buyer’s Power
       14.2.3   Threat of New Entrants
       14.2.4   Degree of Rivalry
       14.2.5   Threat of Substitutes
   14.3   Key Indicators for Demand
   14.4   Key Indicators for Price
15   Competitive Landscape
   15.1   Market Structure
   15.2   Company Profiles
       15.2.1   Google LLC
           15.2.1.1   Company Overview
           15.2.1.2   Product Portfolio
           15.2.1.3   Demographic Reach and Achievements
           15.2.1.4   Certifications
       15.2.2   Microsoft Corporation
           15.2.2.1   Company Overview
           15.2.2.2   Product Portfolio
           15.2.2.3   Demographic Reach and Achievements
           15.2.2.4   Certifications
       15.2.3   Apple Inc.
           15.2.3.1   Company Overview
           15.2.3.2   Product Portfolio
           15.2.3.3   Demographic Reach and Achievements
           15.2.3.4   Certifications
       15.2.4   Meta Platforms, Inc.
           15.2.4.1   Company Overview
           15.2.4.2   Product Portfolio
           15.2.4.3   Demographic Reach and Achievements
           15.2.4.4   Certifications
       15.2.5   Samsung Electronics Co., Ltd.
           15.2.5.1   Company Overview
           15.2.5.2   Product Portfolio
           15.2.5.3   Demographic Reach and Achievements
           15.2.5.4   Certifications
       15.2.6   Lenovo Group Ltd.
           15.2.6.1   Company Overview
           15.2.6.2   Product Portfolio
           15.2.6.3   Demographic Reach and Achievements
           15.2.6.4   Certifications
       15.2.7   Seiko Epson Corporation
           15.2.7.1   Company Overview
           15.2.7.2   Product Portfolio
           15.2.7.3   Demographic Reach and Achievements
           15.2.7.4   Certifications
       15.2.8   HTC Corporation
           15.2.8.1   Company Overview
           15.2.8.2   Product Portfolio
           15.2.8.3   Demographic Reach and Achievements
           15.2.8.4   Certifications
       15.2.9   Sony Corporation
           15.2.9.1   Company Overview
           15.2.9.2   Product Portfolio
           15.2.9.3   Demographic Reach and Achievements
           15.2.9.4   Certifications
       15.2.10   Magic Leap, Inc.
           15.2.10.1   Company Overview
           15.2.10.2   Product Portfolio
           15.2.10.3   Demographic Reach and Achievements
           15.2.10.4   Certifications
       15.2.11   Other
16   Key Trends and Developments in the Market

List of Key Figures and Tables

1.   Global Augmented and Virtual Reality Market: Key Industry Highlights, 2018 and 2032
2.   Global Augmented and Virtual Reality Historical Market: Breakup by Technology (USD Billion), 2018-2023
3.   Global Augmented and Virtual Reality Market Forecast: Breakup by Technology (USD Billion), 2024-2032
4.   Global Augmented and Virtual Reality Historical Market: Breakup by Device Type (USD Billion), 2018-2023
5.   Global Augmented and Virtual Reality Market Forecast: Breakup by Device Type (USD Billion), 2024-2032
6.   Global Augmented and Virtual Reality Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
7.   Global Augmented and Virtual Reality Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
8.   Global Augmented and Virtual Reality Historical Market: Breakup by Application (USD Billion), 2018-2023
9.   Global Augmented and Virtual Reality Market Forecast: Breakup by Application (USD Billion), 2024-2032
10.   Global Augmented and Virtual Reality Historical Market: Breakup by End Use (USD Billion), 2018-2023
11.   Global Augmented and Virtual Reality Market Forecast: Breakup by End Use (USD Billion), 2024-2032
12.   Global Augmented and Virtual Reality Historical Market: Breakup by Region (USD Billion), 2018-2023
13.   Global Augmented and Virtual Reality Market Forecast: Breakup by Region (USD Billion), 2024-2032
14.   North America Augmented and Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
15.   North America Augmented and Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.   Europe Augmented and Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
17.   Europe Augmented and Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.   Asia Pacific Augmented and Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
19.   Asia Pacific Augmented and Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.   Latin America Augmented and Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
21.   Latin America Augmented and Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.   Middle East and Africa Augmented and Virtual Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
23.   Middle East and Africa Augmented and Virtual Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.   Global Augmented and Virtual Reality Market Structure

Key Questions Answered in the Report

What was the augmented and virtual reality market value in 2023?

The market reached a value of approximately USD 27.79 billion in 2023.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 24.6% between 2024 and 2032.

What is the augmented and virtual reality market forecast for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 201.13 billion by 2032.

What are the major market drivers?

The major market drivers include increased incorporation by aerospace and defence sector and bolstering utilisation of augmented and virtual reality in commercial sector due to rising adoption of handheld and mobile devices.

What are the key augmented and virtual reality market trends?

The key trends fuelling the growth of the market include increased adoption by the healthcare sector due to provision of enhanced patient experience and rising utilisation of augmented and virtual reality by various e-commerce and online retail platforms to boost consumer experience.

What are the major regions in the market for augmented and virtual reality, according to the EMR report?

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

What are the significant end uses of augmented and virtual reality?

The end uses of augmented and virtual reality include gaming, entertainment and sports, aerospace and defence, healthcare, education, manufacturing, retail, and automotive, among others.

Who are the key market players, according to the augmented and virtual reality market report?

The key players in the market are Google LLC, Microsoft Corporation, Apple Inc., Meta Platforms, Inc., Samsung Electronics Co., Ltd., Lenovo Group Ltd., Seiko Epson Corporation, HTC Corporation, Sony Corporation, and Magic Leap, Inc., among others.

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