Transparency Market Research (hereafter referred to as TMR) released a market report on "Virtual Reality and Augmented Reality", which includes hardware, software and services, and terminal applications. The report contains analysis, scale, and trends and forecasts for global industries from 2016 to 2024.
According to the report, the virtual reality and augmented reality market will expand at a compound annual growth rate of 92.5%, with a total size of $54.72 billion. At the same time, as the largest hardware manufacturer in the current market, it will continue to stabilize the position of the industry leader during the forecast period. From the map sector, North America dominated 79% of the global market in 2015.
The speed of technological advancement makes the market more promising
VR/AR's technological advancement and innovation pace are significantly faster than many other technology-driven industries. With the rapid development of VR/AR hardware and software, the global market landscape of VR/AR has changed considerably in the past few years and is becoming more and more optimistic.
For example, the recent Fove company's VR head-up display, which includes infrared-based eye tracker, and Manus VR gloves, can help end users visualize their hands in VR, when they were drunk by their promo It is. TMR believes that continuous innovation will soon allow consumers to quickly embrace VR/AR.
The high cost of equipment is the key to hinder the development of the industry
Because of the many funds and resources used to develop high-cost VR/AR products, and the highest cost of hardware in these products, VR/AR is more expensive than other traditional electronic devices. For example, in 2015, the average price of VR heads was $696.4, while the average price of AR glasses was $1,514. Especially in some developing countries and backward countries, the high cost of VR/AR is one of the key factors of unpopularity.
Then, analogous to some existing electronic devices, such as televisions, smart phones, etc., the cost of VR/AR head-mounted components will drop rapidly in the next few years. Innovative products due to high attention and investment will slow down the price of hardware components.
According to the TMR report, the VR/AR global market status is composed of some of the world's leading technology companies, and some small-scale companies, and has formed a highly competitive and highly dynamic industry characteristics. These international companies such as Google, Oculus, HTC, Microsoft and Sony have achieved good results in investing in research and development worldwide.
The report predicts that with the rapid development of technology, it will attract more players to enter this market. In addition, many large IT/tech companies are also expected to enter this market, which will significantly increase the number of partnerships and strategic alliances and high investment cases in the entire market.
Global VR/AR market classification
The report also categorizes the global VR/AR market.
Composed of components: hardware, head-mounted display, head-up display, glasses, console, sensors, cameras and projectors, software, services, etc.
Classified by application area: medical, education, retail, gaming, construction, media and entertainment, automotive, defense and aerospace, and others (manufacturing and energy).
Classified by map: North America, Europe, Asia Pacific, Middle East and Africa, South America.
This report shows that the industry has begun to have a clear understanding of VR / AR, through this report can find some breakthroughs in the future VR / AR.
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