VR, AR and MR global market size
As the Virtual and Augmented Reality markets continue to grow, next generation User Interfaces (UI) will be sense of touch and responsive to non-verbal communication in which remote users will be able to enjoy haptic experiences through rea-time interactive systems. Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) enabled UI will be important to enable a significantly enriched User Experience (UX) for many various industries that pull these immersive technologies. A report from ResearchAndMarkets.com on “Market outlook for VR, AR and MR” show these technologies being used for a many of different consumer facing UX enhanced marketing, sales, and product/service usage scenarios. They also use them for a variety of enterprise purpose including internal operations, managing supply chains and supporting customers.
Image: 8ar.appearition
These technologies have long been spoken of as the future of visual technology, with a number of increasingly optimistic forecast anticipating a boom in sales and use over the coming years. The VR market burst through the $1 billion mark two years ago, thanks largely to a $300 million boom relation to video games sales in the innovative technology domain, while headset sales are predicted to approach $200 million units within the next two years.
The primary goal of AR is to enrich the user’s perception of the real world, providing information and insights that otherwise would not be obtainable. AR has grown noticeably across many industries within the last tow years as mentioned earlier, providing significant market momentum and indicating great promise to transform communications, content and business across a wide range of sectors. The goals of MR are focused on a true merging of real and virtual worlds, which the publisher believes will be a major promoter for wide spread acceptance and usage of VR in all kinds of major industry sectors.
The report also provides an in depth assessment of the VR market including analysis of VR ecosystem and role of value chain partners, evaluation of recent VR patent fillings and intellectual property, analysis of current price metrics VR devices, apps and etc.
The primary goal of AR is to enrich the user’s perception of the real world, providing information and insights that otherwise would not be obtainable. AR has grown noticeably across many industries within the last tow years as mentioned earlier, providing significant market momentum and indicating great promise to transform communications, content and business across a wide range of sectors. The goals of MR are focused on a true merging of real and virtual worlds, which the publisher believes will be a major promoter for wide spread acceptance and usage of VR in all kinds of major industry sectors.
The report also provides an in depth assessment of the VR market including analysis of VR ecosystem and role of value chain partners, evaluation of recent VR patent fillings and intellectual property, analysis of current price metrics VR devices, apps and etc.
Image: Consultancy.uk
Thanks to this growing variation in the applications of the technologies, the global market size of the VR sector will likely surpass $17 billion by 2022. The rise from its level of $2 billion in 2016 constitutes a 44.5% CAGR (compound annual growth rate) boom. AR, which previously boasted a market size of $4 billion is predicted to see an even higher growth. At a huge 85.4% CAGR, the AR market will reach a size of $161 billion in the next four years. With this in mind, demand among potential suitors looking to buy their way into the increasingly worthwhile market is also most likely to grow in a very fast pace.
