Augmented Reality and Virtual Reality Market Size Worth $252.16Bn, Globally, by 2028 at 36.9% CAGR - Exclusive Report by The Insight Partners - Seite 2

87

Historical data available

Yes

Segments covered

Technology, Component, and End-User Industry

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Augmented Reality and Virtual Reality Market: Competitive Landscape and Key Developments

Immersive Gaze, Google LLC, EON Reality, Vuzix Corporation, Blippar Group Limited (Layar B V), Innovega Inc., Simulanis Solutions Private Limited, Kanda ApS, YeppAR, and Zugara, Inc. are among the key players operating in the global augmented reality and virtual reality market. Several players are analyzed to understand the augmented reality and virtual reality market.

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In May 2021, Novelis collaborated with Zugara to create an augmented reality smartphone app that Novelis' product team may use as an interactive sales tool.

In December 2021, Vuzix Corporation signed a distribution agreement with Barcotec GmbH ("Barcotec"), a European supplier of innovative hardware, a device management cloud, and a complete service package to regional and international companies and institutions.

Rising investments in AR and VR technologies have created lucrative augmented reality and virtual reality market growth opportunities. A few of the investments made in the augmented reality and virtual reality market ecosystems are mentioned below:

• According to an article published by Crunchbase in January 2022, 2021 was the second-best year ever for VR and AR investment, as ~US$ 3.9 billion of venture capital came from startups and in 2018, US$ 4.4 billion was received.
• As per an article published by Tech Crunch, Niantic, a San Francisco-based developer of augmented reality platforms, closed a deal of US$ 300 million in November 2021 to build the real-world metaverse.
• As stated in an article published by Crunchbase, NAVER Z, a South Korean 3D avatar application developer, raised a Series B funding worth ~US$ 188.2 million for metaverse creation in November 2021.
• According to an article published by Crunchbase, Magic Leap, a Florida-based wearable tech maker, raised a total of US$ 500 million in October 2021.
• In November 2019, Lululemon invested in Mirror, a fitness tech firm that uses smart mirrors to deliver exercise sessions in their clients' homes. Mirror completed a US$ 34 million Series B funding round, led by hedge fund Point72 and counting Lululemon and Karlie Kloss as contributors.

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