The global augmented and virtual reality market is projected to reach $XX billion by 2028, at a CAGR of 16% to 18% during 2023-2028. The growth of augmented and virtual reality market is driven by increased participation and engagement in learning, demand for personalized learning experiences, and increasing use of connected devices in augmented & virtual reality in education.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the augmented and virtual reality market by component (solutions, hardware, and services), deployment model (cloud and on-premises), application (classroom learning, corporate learning management, certifications, e-learnings, virtual field trips, student recruitment, and others), end use industry (academic and corporate), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the augmented and virtual reality market?
Q.4 What are some changing demands of customers in the augmented and virtual reality market?
Q.5 What are the new developments in the augmented and virtual reality market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this augmented and virtual reality area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this augmented and virtual reality market?

Emerging trends, which have a direct impact on the dynamics of the industry, include increasing adoption of advanced technology products and devices, increased demand for personalised and experiential learning methods, and trending culture of online studies.

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Market Segmentation:
Based on component, the augmented and virtual reality market is segmented into solutions, hardware, and services. The hardware segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its involvement in devices which is used to project virtual reality content such as head-mounted displays, VR headsets, and projectors.
North America will remain the largest region due to the presence of many prominent educational institutions and quality education provided by US and Canada. Additionally, presence of globally renowned higher education institutions that possess the demand and resources to adopt such advanced technology to improve quality of learning.
Key Players in the augmented and virtual reality market are Sony, Samsung Electronics, HTC, Google, Microsoft, Panasonic, LG Electronics, Oracle, Cisco, and Dell.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
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