Virtual and Augmented Reality Market : Present Scenario and the Growth Prospects with Forecast 2024
The global market for virtual and augmented reality has been experiencing a noticeable rise over the recent past. The significant advancements in technology has boosted this market remarkably. Over the coming years, the market will continue to gain exceptionally from the constant introduction of innovative and highly developed devices. The worldwide market for virtual and augmented reality is estimated to report an exponential CAGR of 92.50% between 2016 and 2024, increasing its overall opportunity to US$547.20 bn by the end of 2024. Among the virtual reality and the augmented reality markets, the former one is projected to register a relatively fast-paced growth during the forecast period due to the high demand for augmented reality devices in the media and entertainment, healthcare, gaming, and the manufacturing sectors. Obtain Report Details @ http://www.transparencymarketresearch.com/virtual-augmented-reality-market.html Software, hardware, and services are the key components of the global market for virtual and augmented reality. In 2015, the hardware segment led the global market with a share of nearly 73%. With the increasing demand for technological advanced virtual and augmented reality devices, such as glasses, head-mounted display, consoles, and input/sensors, the segmented is anticipated to retain its position over the next few years. The demand for augmented reality-based head up display is significantly high and the trend is likely to remain so over the forthcoming years, thanks to rise in the automotive industry. The worldwide market for virtual and augmented reality reports its reach across Asia Pacific, Europe, North America, the Middle East and Africa, and South America. With a share of nearly 80%, North America led the global market in 2015. Researchers anticipate this regional market to remain on the top over the forecast period.