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Demand for AR and VR Technologies Expected To Shoot Up in Asia-Pacific in Near Future

For instance, The Boeing Company witnessed a 25% reduction in its wiring manufacturing time after adopting smart glass displays. Due to these factors, the worldwide demand for AR and VR technologies is skyrocketing, thereby driving the growth of the global AR and VR market. The market revenue is predicted to grow from $37.0 billion in 2019 to $1,274.4 billion by 2030. Furthermore, the market will advance at a CAGR of 42.9% from 2020 to 2030.

Depending on type, the market is divided into AR and VR. Between these, the VR category dominated the market from 2014 to 2019, as per the observations of the market research firm, P&S Intelligence. This was primarily because of the extensive usage of VR in various industries, particularly gaming, and the fall in the costs of VR devices. As VR provides an immersive experience to users, it is increasingly being adopted by businesses operating in the gaming industry.


Geographically, the AR and VR market will exhibit the fastest growth in Asia-Pacific (APAC) in the forthcoming years. This is credited to the fact that the region is home to many developing countries and numerous hardware and display panel manufacturing companies. Additionally, the surging investments being made in the defense and commercial sectors and the expansion of the automotive and healthcare industries, especially in South Korea, India, China, and Japan, are also driving the market advancement in this region.

Hence, it is safe to say that the demand for AR and VR technologies will rise enormously in the coming years, primarily because of their falling prices and growing requirement in the gaming industry and the increasing usage of consumer electronics devices such as tablet computers and smartphones.

This market research report provides a comprehensive overview of the market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
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