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The Augmented Reality and Virtual Reality Market was valued at USD 22.12 billion in 2024 and is expected to reach USD $96.32 billion by 2029, at a CAGR of 34.2% during the 2024-2029 period.

Accelerating use of AR and VR in gaming and entertainment sector is a key factor that contributes towards the market growth of AR and VR technologies. Moreover, surging integration of AR and VR in healthcare applications is expected to provide growth opportunities for market players offering AR and VR technologies.

To know about the assumptions considered for the study download the pdf brochure

Major Augmented and Virtual Reality companies include:

• Meta. (US)
• Sony Group Corporation (Japan)
• Apple Inc. (US)
• ByteDance (China)
• DPVR (China)
• Intel Corporation (US)
• Magic Leap, Inc. (US)
• Ultraleap (US)
• Vuzix (US)
• Xiaomi (China)
• HTC Corporation (Taiwan)
• Google (US)
• SAMSUNG (South Korea)
• Microsoft (US)
• EON Reality (US)
• Maxst Co., Ltd. (South Korea)
• Blippar Group Limited (UK)
• Atheer, Inc. (US)
• Nintendo (Japan)
• Ultraleap (US)
• Penumbra Inc. (US)
• Psico Smart S.L. (Spain)
• Panasonic Corporation (Japan)
• Scope AR (US)
• Continental AG (Germany)
• Virtually Live (Switzerland)
• Intel Corporation (US)
• Craftars (Romania)
• BidOn Games Studio (Ukraine)
• Appentus Technologies (India)
• 3D Cloud (US)
• WayRay AG (US)

The major players in the AR and VR market with a significant global presence are Meta. (US), Sony Group Corporation (Japan), Apple, Inc. (US), ByteDance (China), and DPVR (China). The market players have adopted various strategies such as product launches, product development, partnerships, collaborations, contracts, joint investments, strategic supplier relationships, and expansions to strengthen their position in the AR and VR market. The organic and inorganic strategies have helped the market players to expand themselves globally by providing innovative and advanced AR and VR products.

Meta (US) has innovated several AR and VR products such as Meta Quest 3, Meta Quest 2, Meta Quest Pro and Ray-Ban Meta smart glasses that cater to applications such as consumer, commercial, healthcare and enterprise. The company focuses on organic and inorganic growth strategies such as product launches, and partnerships. For instance in April 2024, Meta, and EssiIorLuxottica created a partnership to produce second-generation smart glasses to expand the existing Ray-Ban Meta smart glasses collection. Other new additions include Meta AI updates that will render the glasses more which will be useful and strengthen its position in the market.

Sony Group Corporation (Japan) offers AR and VR headsets through its Games & Network Services. These products cater to applications such as consumer, commercial, healthcare, enterprise, and other augmented reality. The company focuses on organic and inorganic growth strategies such as product launches, joint investments and expansions. For instance, in February 2024, TSMC, Sony Group Corporation, DENSO Corporation, and Toyota Motor Corporation further invested into Japan Advanced Semiconductor Manufacturing, Inc. to build a second fab which is scheduled to begin operation at the end of 2027. With the investment for JASM’s first fab, the companies together raised over USD 20 billion with the support of the Japanese government.

Apple, Inc. (US) offers AR hardware and software that caters to applications such as consumer, commercial, enterprise, and aerospace & defense. The company focuses on organic growth strategies such as product launches. For instance, in June 2024, Apple Inc. launched vision OS 2 which provided new spatial computing experiences to Vision Pro. Through this the user can turn their photos into spatial photos. It can also deliver gestures for navigating visionOS and many more ways to take advantage of spatial computing.

ByteDance (China) has various VR headsets such as PICO 4 Enterprise, PICO G3, PICO Neo3 Pro/Pro Eye that target consumer, enterprise, and education sectors. They are portable and affordable. The company is oriented towards organic and inorganic growth strategies that involve product launches and acquisitions. For instance, in September 2022, the company launched PICO 4, a VR headset featuring key advanced features such as sub-millimeter: positioning accuracy, possesses millisecond tracking speed, and a 4K* Super-Vision Display strengthens its position in the market.

DPVR (China) offers a comprehensive range of VR headsets such as P1 Series, DPVR E3C and DPVR E4 that cater to applications such as consumer, commercial, healthcare, and enterprise. The company focuses on organic growth strategies such as product launches and inorganic growth strategies such as collaborations and partnerships. In December 2023, DPVR teamed up with SchooVR, an immersive education content provider from Ireland. It will also help to enhance learning solutions for teachers and students by placing virtual reality in classrooms, thereby completely investing in all the opportunities that will further strengthen its marketplace position.

Related Reports:

Augmented and Virtual Reality Market by Enterprise, Technology (Augmented Reality, Virtual Reality), Offering (Hardware, Software), Device Type (HMDs, HUDs, Gesture Tracking Devices), Application and Region - Global Forecast to 2029

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
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Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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