AR and VR Market Provides Detailed Insight by Trends, Challenges, Opportunities, and Competitive Analysis
The application segment of the AR and VR market is categorized into commercial, consumer, and enterprise. Among these, the consumer category generated the highest market revenue in 2019, and it is also projected to lead the market in the coming years. This is ascribed to the surging awareness on the AR and VR technologies and increasing demand for interactive games. Moreover, the growing per capita disposable income of people has augmented the demand for gaming systems, which, in turn, is driving the market growth in this category. Moreover, the AR and VR market is bifurcated into hardware and software, based on offering. Between the two, the hardware category accounted for the larger share in the market in 2019, and it is expected to dominate the market during the forecast period as well. This will be due to the decreasing costs of AR and VR devices, high popularity of these devices in the gaming sector, increasing demand for high-quality entertainment content, easy availability of he...