PUBLISHER: Market Research Future | PRODUCT CODE: 1777253
PUBLISHER: Market Research Future | PRODUCT CODE: 1777253
Global AR/VR Hardware Market Research Report by Application (Head Mounted Display, Head Up Display, Handheld Display), by Hardware Type (Sensors, Processors, Controllers, Cameras, Headphones, Display Monitors, Others), by Industry Vertical (Aerospace & Defence, Gaming & Entertainment, Education & Training, Healthcare, Automotive, Others), and by Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) Industry Forecast till 2030
Industry Overview
The global augmented reality and virtual reality hardware market is projected to achieve USD 389,066.4 million by 2030, at a CAGR of 37.8% by the end of 2030. Virtual reality and augmented reality are both instances of technological experiences, which could transform the way digital technology interacts with the physical world. AR is focusing on the three main functions, such as interaction, instruction, and visualization. It changes the engagement between machine and humans by providing real-time information as well as diagrams at the same time to save time for the user. Conversely, virtual reality (VR) works differently. It uses a headset with a combination of CGI, or computer-generated images, to offer users a virtual world.
The global AR/VR hardware market is growing fast due to strong demand in gaming and entertainment, mainly for head-mounted displays (HMDs). These devices are lightweight and offer a more engaging experience. Their use is also increasing in factories, thanks to better silicon chips and real-time data.
Mobile devices still struggle with short battery life, slow image processing, and limited storage. Also, making compact VR headsets with extra sensors makes them costly.
At the same time, more people are using smartphones and 5G, making it easier to access AR/VR content without downloading apps. Web browsers now support virtual content. VR is also being used more in learning, online shopping, and live events. Improved networks and technology are pushing this trend forward.
Industry Segmentations
The global augmented reality and virtual reality hardware market is classified based on the hardware type, comprising sensors, processors, controllers, cameras, headphones, display monitors, and others.
In terms of industry verticals, the global market is segmented into aerospace & defence, gaming & entertainment, education & training, healthcare, automotive, and others.
Based on the application, the global augmented reality and virtual reality hardware market is divided into head-mounted display, head-up display, and handheld devices.
North America is ahead in the AR/VR market, with lots of tech growth in schools and electronics. Well-known companies are pushing new tools and metaverse projects.
Europe is picking up pace with AR/VR in education and healthcare. The UK and Germany are making strong progress with training tools.
Asia-Pacific is expanding fast in AR/VR thanks to rising investments and 5G. China and India are helping more people access affordable devices.
The Middle East & Africa are growing in AR/VR with strong government and business support. The UAE leads in tech use, and Africa is growing through creative storytelling.
Latin America is steadily adopting AR/VR due to better tech use and development. Brazil stands out with major industry partnerships and innovation.
Major competitors in the global augmented reality and virtual reality hardware market are Oculus VR, Samsung Electronics Co., Ltd., Worldviz, NXP Semiconductors, Bosch Sensortec GmbH (Bosch Group), Inertial Labs, Sony Corporation, Valve Corporation, HTC Corporation, TCL Technologies, DPVR, Vuzix, Qualcomm Technologies Inc., Seiko Epson Corporation, Penumbra, Inc., ARM Limited, LEKE VR, and Google LLC.