Skip to main content

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
Labels:

Comments

Post a Comment

Popular posts from this blog

Where Are People Likely To Encounter a Voice Assistant?

A lot of people, both men, and women have either of two girlfriends they are increasingly talking to during the day: Siri and Alexa. In a short time, these voice assistants have become so popular that people often talk to them just for entertainment, asking pointless questions to hear even-more-pointless and often hilarious answers. Moreover, voice assistants help people control the operations of electrical and electronic devices, such as TVs, home automation systems, fridges, and washing machines, and even automobiles (certain features) via spoken commands. Thus, with technological advancement widening the application area of such programs, the voice assistant market value, as calculated by P&S Intelligence, is set to grow from $1,723.6 million in 2019 to $26,872.6 million by 2030, at a 29.7% CAGR between 2020 and 2030. While Alexa and Siri might still be babies in human years, voice assistants themselves are not.  Whenever someone calls up a big company or even a government ...
Post a Comment
Read more

Edge Data Center Market To Generate $53.1 Billion Revenue by 2030

A number of factors such as the commercialization of 5G, high demand for internet of things (IoT) devices, and dense over-the-top (OTT) and mobile data traffic are expected to drive the edge data center market at a CAGR of 25.4% during the forecast period (2020–2030). The market revenue stood at $5.3 billion in 2019, and it is projected to reach $53.1 billion by 2030.  In recent years, the rising adoption of IoT technology in the healthcare and automotive industries has become a major market trend. The increasing mobile data traffic is a prominent growth driver of the edge data center market across the world. The growing usage of smartphones and IoT devices is resulting in the generation of high volumes of data.  Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/edge-data-center-market-analysis/report-sample To manage the mounting amount of data, umpteen edge data centers are being deployed across the world. The rising penetration of the in...
Post a Comment
Read more

Why will Popularity of OTT Services Boom in Asia-Pacific in Coming Years?

The growing popularity of video-on-demand (VoD) services in developing countries is also predicted to drive the advancement of the market between 2021 and 2030. Depending on type, the market is divided into VoD, music streaming, online gaming, and communication categories. Out of these, the online gaming category is predicted to dominate the market in the coming years. Internet-connected gaming consoles, such as Xbox One, Wii U, and Playstation 4, allow users to play games online. The high costs of these games are responsible for the high revenue generation of the online gaming category. Geographically, the OTT services market was dominated by North America in 2020. This was because of the high disposable income of people, which enabled them to purchase subscriptions of premium content. Additionally, the high penetration of the internet in Canada and the U.S. also contributed toward the surging popularity of OTT services in the region during the last few years. In the coming years, th...
Post a Comment
Read more