Augmented reality is a technology, which usages the current user’s environment and overlaps the digital or virtual contented or data over it to proposal immersive digital experience in real-time environment. Virtual reality is a virtual 3D environment, which totally immerses end users in an artificial world deprived of sighted the real-world. Augmented reality applications are established on special 3D programs, which allow developers to participate contextual or digital content with the real creation in real time. Virtual reality offers truthful user experience of artificial world in communicating virtual environment.
According to the analysis report,’ North America Augmented Reality and Virtual Reality Market by Technology, Component, Device Type, Industry Vertical, End-user, and Country 2019-2026: Trend Forecast and Growth Opportunity’ the market for augmented reality can be labelled as an industry where numerous opportunities are still unexploited. Market players are participating antagonistically in Research and Development (R&D) to make known to advanced AR innovations for consumers and initiatives and to participate new technologies and grow AR-compatible hardware and software with distinguishing structures as portion of the exertions to advance a winning advantage over their competitors. Several e-commerce companies are quickly adopting AR technology to proposal the best immersive experience and other progressive structures to their customers. Some key players operating in the augmented reality market include DAQR, EON. Reality Inc., Facebook, Google, HTC, Microsoft, Samsung, Seiko Epson, Sony and Vuzix Corporation. Key industry contributors are striking strategic deals with smaller technology firms and start-up companies to strengthen their market presence amid the intensifying competition.
Geographically, the key regions are divided into U.S. and Canada. North America dominated the market during the forecast amount. Based on technology, the North America market is segmented into Augmented Reality (AR), Marker-based Augmented Reality, Marker less Augmented Reality, Virtual Reality (VR) No immersive Technology and Semi-Immersive and Fully Immersive Technology. Based on component, segmented into Hardware, Sensors, Semiconductor Component, Displays and Projectors, Position Trackers, Cameras, Others, Software, Software Developer Kits and Cloud Services. Based on device type, the North America market is deliberated into Augmented Reality Devices, Head-Mounted Display (HMD), Head-Up Display (HUD), Handheld Device, Virtual Reality Devices, Head-Mounted Display (HMD), Gesture-Tracking Device and Projector & Display Wall. Based on industry vertical categorized into Gaming, Entertainment & Media, Aerospace & Defence, Healthcare, Education, Manufacturing, Retail and Others. Based on end-user, the North America market is segmented into Consumer and Enterprise.
The rising mandate for remote assistance and collaboration from initiatives that support in workflow management and optimization is anticipated to drive market development. Upsurge in penetration of Smartphone’s & connected devices in various application parts and development of the gaming industry increases the augmented and virtual reality market growth. The recent developments such as IoT, cloud computing, 3D printing, automation, advanced communication systems, artificial intelligence, Big Data, AR and VR and many others are the lashing factors prompting the change in dynamics from living to running a business. The rising partiality for using augmented reality in building and planning bodes well for the development of the industry. Therefore, it is expected that the market of North America Augmented Reality and Virtual Reality Market will boost up throughout the forecast amount.
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Ankur Gupta, Head Marketing & Communications