COVID-19 Impact on the Global Augmented Reality and Virtual Reality Market

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www.360quadrants.com

• Augmented Reality and Virtual Reality Market with
  COVID-19 Impact Analysis by Offering (Hardware
  Software), Device Type (HMD, HUD, Gesture
  Tracking), Application (Enterprise, Consumer,
  Commercial, Healthcare), and Geography - Global
  Forecast to 2025

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The latest research on Augmented Reality and
Virtual Reality Market study offers an
all-inclusive analysis of the major strategies,
corporate models, and market shares of the most
noticeable players in this market. Augmented
Reality and Virtual Reality Market based on
technology, the augmented reality (AR) market is
projected to grow from USD 15.3 billion in 2020
to USD 77.0 billion by 2025 it is expected to
grow at a CAGR of 38.1 from 2020 to 2025. The
virtual reality (VR) market is projected to grow
from USD 6.1 billion in 2020 to USD 20.9 billion
by 2025 it is expected to grow at a CAGR of
27.9 from 2020 to 2025.Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id1185utm_sourceFrepro-sonaliutm_mediums
onaliutm_campaignsonali Major vendors in the
augmented reality and virtual reality market
include Google (US), PTC (US), Apple (US), Sony (J
apan), Samsung Electronics (South Korea),
Microsoft (US), HTC (Taiwan), Oculus (US), Seiko
Epson (Japan), Lenovo (China), Wikitude
(Austria), Magic Leap (US), Blippar (UK), Upskill
(US), MAXST (South Korea), EON Reality (US),
Vuzix (US), CyberGlove Systems (US), Leap Motion
(US), and Sixense Enterprises (US).
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• Augmented Reality and Virtual Reality Market
  Size, Forecast to 2025 With COVID-19 Impact
  Analysis
• The COVID-19 pandemic is expected to positively
  impact the growth of the AR and VR market for
  healthcare application, as AR VR HMDs are
  expected to be majorly adopted by medical
  professionals as protective gear in the near
  future. COVID-19 has negatively impacted the
  supply chain of the market due to lockdowns and
  low cross-border trade. Due to the COVID-19
  pandemic, the global consumer market for AR VR
  is expected to witness sluggish growth in the
  coming years. The shutdown of consumer markets
  worldwide has affected the sale of products such
  as HMDs and projectors. However, the market for
  VR is expected to regain its complete momentum by
  2023.
• Augmented Reality and Virtual Reality Market
  Dynamics
• Driver Increasing demand for AR devices and
  applications in healthcare
• AR plays an important role in the healthcare
  sector. AR can be used to provide a virtual view
  of a patient, in which a surgeon can see the
  condition of the patients body parts. This can
  help the surgeon to conduct minimally invasive
  surgeries. The use of AR modeling and 3D
  visualization is expected to help the healthcare
  sector. The use of AR for improving fitness,
  teaching complex subjects to medical students,
  training doctors, managing pharmacy, and caring
  and supporting patients after they leave the
  hospital is driving the growth of the augmented
  reality and virtual reality market in this
  sector.

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• Augmented Reality and Virtual Reality Market
  Size, Forecast to 2025 With COVID-19 Impact
  Analysis
• The COVID-19 pandemic is expected to positively
  impact the growth of the AR and VR market for
  healthcare application, as AR VR HMDs are
  expected to be majorly adopted by medical
  professionals as protective gear in the near
  future. COVID-19 has negatively impacted the
  supply chain of the market due to lockdowns and
  low cross-border trade. Due to the COVID-19
  pandemic, the global consumer market for AR VR
  is expected to witness sluggish growth in the
  coming years. The shutdown of consumer markets
  worldwide has affected the sale of products such
  as HMDs and projectors. However, the market for
  VR is expected to regain its complete momentum by
  2023.
• Augmented Reality and Virtual Reality Market
  Dynamics
• Driver Increasing demand for AR devices and
  applications in healthcare
• AR plays an important role in the healthcare
  sector. AR can be used to provide a virtual view
  of a patient, in which a surgeon can see the
  condition of the patients body parts. This can
  help the surgeon to conduct minimally invasive
  surgeries. The use of AR modeling and 3D
  visualization is expected to help the healthcare
  sector. The use of AR for improving fitness,
  teaching complex subjects to medical students,
  training doctors, managing pharmacy, and caring
  and supporting patients after they leave the
  hospital is driving the growth of the augmented
  reality and virtual reality market in this
  sector.

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• Restraint Limited user interface affecting the
  navigation performance of AR apps
• Security and privacy issues associated with AR
• Security and privacy issues are the major
  challenges faced by the augmented reality and
  virtual reality market. These issues have emerged
  due to the inconsistencies in AR programming and
  negligence and oversight of both the developers
  and end-users of AR apps and devices. Few AR
  applications do not have the capabilities to
  secure user identity and privacy. The primary
  issue is that there are no regulations that
  define the dos and donts associated with the AR
  environment. This implies that AR technology can
  incorporate malicious intent and lead to users
  misuse of personal information. For instance, the
  try-before-you-buy concept for clothing retailers
  can be misused. If the concept is not secured
  well, it can be hijacked. The hacker can overlay
  a nude body image instead of clothes, which can
  harm the users reputation. An unsafe
  try-before-you-buy app can be manipulated, which
  is a major factor restraining such apps growth
  in the retail clothing sector.
• Opportunity Rise in demand for AR in
  architecture
• The increasing demand for AR in architecture
  would be a major opportunity for the augmented
  reality and virtual reality market growth. AR can
  be used to project digital information on
  architectural models. It can also be used to
  experience a buildings interior even when the
  design of the building is in its initial stages.
  This will help the architects get an image of the
  project from the screen to the physical space.
  Streamlining of the construction process is
  another application in the construction industry
  using AR. In architecture, AR systems are used
  for interior design applications, through which a
  user can transform 2D drawings into 3D physical
  models and digital simulations. The AR-based
  architecture applications help users to choose
  accurate models and designs before construction
  by looking at their 3D representation. Using
  these applications, users can rearrange designs
  and floorings in a building. They can create and
  analyze a detailed model to evaluate their
  designs based on sun exposure, cast shadows, wind
  pattern, and traffic congestion. Head-mounted
  displays can be used for site surveying and
  determining the location of underground cables.
  They can also be used as a visualization tool to
  track how the building would respond to the
  surroundings.

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• Challenge Display latency and limited field of
  view
• The major challenge faced by these AR
  manufacturers is to provide a wide field of view
  (FOV). The field of view is defined as the extent
  of the observable world at any given moment.
  Ideally, a human eye has a visual field of 200
  horizontally and 135 vertically though,
  currently, AR and VR are capable of providing a
  FOV of up to 90. For AR devices to create
  immersive experiences, they must capture as much
  of the FOV as possible. Another major challenge
  for the AR device and application manufacturers
  is to offer low latency displays. The errors
  caused by latency often lead to image lagging,
  thus posing a major challenge for the AR device
  and application manufacturers. While playing a
  game, high input lag makes the gameplay feel
  sluggish and unresponsive. A lower input lag
  level allows gamers to enjoy a seamless control
  experience, as movements on the screen respond
  instantly to the commands. This has been one of
  the biggest technical challenges faced by AR
  manufacturers. All possible systems are bound to
  have some threshold latency, which comes from the
  content frame rate, the displays refresh rate,
  and input lag. Furthermore, these devices are
  largely being adopted by healthcare and aerospace
  defense applications, where any late response
  would have catastrophic results.
• Software to play a significant role in the growth
  of augmented reality and virtual reality market
• The Augmented Reality and Virtual Reality Market
  for software has witnessed high growth in recent
  years and is set to lead the AR VR market for
  the next 5 years owing to the trend of VR content
  creation and AR gaming. The mass consumerization
  would help achieve widespread adoption of AR and
  VR. Delays in the launching of new AR VR
  hardware, coupled with a decline in the sale of
  AR VR hardware, has negatively impacted the
  revenue growth of the AR VR software market.
  However, the increasing need for maintaining
  social distancing to curb the spread of the virus
  is expected to increase the adoption of AR VR
  technologies and create growth opportunities for
  AR VR software providers in the retail,
  consumer, education, and enterprise sectors.
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• Contact
• Mr. Agney Sugla
• agney_at_marketsandmarkets.com
• 630 Dundee Road, Suite 430
• Northbrook, IL 60062