Future of Global Digital Reality Market, Forecast to 2021

Future of Global Digital Reality Market, Forecast to 2021

Emerging Applications of Augmented Reality/Virtual Reality Will Create Market Revenue of $55.01 Billion by 2021

RELEASE DATE
31-Aug-2018
REGION
North America
Research Code: K22B-01-00-00-00
SKU: CI00564-NA-MT_22268

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Description

The immersive technology market, including augmented and virtual reality, is expected to see huge growth in the next 5 years. Technological advancements such as 5G and artificial intelligence will transform the augmented and virtual experiences in the future. 5G will bring improved mobile broadband along with advanced capacity, more uniform experience with steadily high data rates, and lower latency which will improve the screen and equipment quality of AR and VR devices. Some of the significant impacts of 5G across sectors could be enabling virtually crafted workplaces and fully interactive and emulating in-office work environments. Video streaming of AR and VR content in moving vehicles like cars and trucks is a possibility. Similarly, recent developments in deep learning will elevate real-time image and speech recognition, lessen the cost of local processing and storage, multiply network bandwidth, enabling richer data streams, and also enabling cloud availability. Artificial intelligence will thus, facilitate innovative kinds of VR as well as AR experiences and platforms in future for collaboration and interaction; thus, disrupting both enterprise and well as consumer sectors. The AR and VR market revenue is expected to reach $55.01 billion by 2021. Growth will mainly be derived by AR and VR applications in manufacturing and simulation modeling. Advancements in technology such as 5G, artificial intelligence, edge computing, and robotics are expected to transform the augmented and virtual reality experiences in the near future. This transformation will give rise to future opportunities in sectors such as media, gaming, telepresence, retail, medicine, and education. The hardware market of AR and VR will grow tremendously by 2021, mainly due to a 10-fold increase in AR and VR headset shipments by 2021. VR application in the manufacturing sector is projected to increase by 98.9% between 2017 and 2021. AR application in the education and training sector will see tremendous growth by 2021 due to rising investments in smart cities development and defense security applications. Another significant trend is the high-growth prospects of the Asia-Pacific region in AR and VR applications, mainly supported by the Chinese market, which is expected to grow at a rate of 80% between now and 2021. The application landscape will observe segments such as AR gaming, connected cars, live streaming, and pay-per-view events that are already being adopted now and the this is expected to offer a major revenue source in the AR and VR application market.


Research Highlights

This study will highlight the revenue analysis across types of devices, application areas, regional prospects, software, and hardware. This research service will also provide a peek into the future use cases of VR and AR technology and also help in identifying the future opportunities across AR and VR applications.

Table of Contents

Key Findings of the Study

Key Findings of the Study (Continued)

Introduction to AR, VR, and Mixed Reality

Virtual Reality and Augmented Reality—Taxonomy Essentials

Technologies Transforming Augmented and Virtual Reality Experiences

Implications of 5G on Augmented and Virtual Reality

Bandwidth Requirements for Augmented and Virtual Reality

Augmented Reality Impacting Different Personal Experiences

Augmented Reality Impacting Different Functions

Market Revenue—Augmented Reality Versus Virtual Reality

AR/VR Revenue Growth by Major Application Areas

Application Revenue—AR/VR Application Segmentation

AR/VR Market Analysis—Regional Potential

Mapping of Future Opportunities Across AR/VR Applications

Methodology for Application Map

Vendor Landscape

Research Scope

Research Background

Themes Explored In the Study

Definitions—Technologies and Experiences

Definitions—Technologies and Experiences (continued)

Introduction to AR, VR, and Mixed Reality

Virtual Reality and Augmented Reality—Taxonomy Essentials

End Device Taxonomy—Types of Headsets and Viewers

Technologies Transforming Augmented and Virtual Reality Experiences

Implications of Hologram on Augmented and Virtual Reality

Implications of Artificial Intelligence on Augmented and Virtual Reality

Implications of 5G on Augmented and Virtual Reality

Adoption Timeline of AR, VR and Mixed Reality

When Cameras are on, AR Will be a Predominant User Interface

Virtual Reality Versus Augmented Reality—A Current Snapshot

Virtual Reality Versus Augmented Reality—Characteristics and Challenges

Key Barriers to Adoption of VR and AR

Market Revenue—Augmented Reality Versus Virtual Reality Revenue

AR/VR Revenue Growth by Major Application Areas

AR/VR Hardware Market Growth

AR/VR Software Market Growth

Application Revenue—AR/VR Application Segmentation

AR/VR Market Analysis—Regional Potential

Application Area—Public Sector: Market Overview

Application Area—Public Sector: Case Study of EON Icube Solution for Emergency Management

Application Area—Public Sector: Case Study of Dassault Systemes 3DExperience City Supporting in Building a Smart City

Application Area—Public Sector: Case Study of Raytheon Virtual Reality Technology Used for the US Army Training

Application Area—Automotive: Market Overview

Emerging Application Areas in the Automotive Industry

Application Area—Automotive: Case Study of Continental AR HUD Enabling Wordless Information Exchange Between Vehicle and Driver

Application Area—Automotive: Case Study of How Volvo, Using Microsoft’s HoloLens, is Revolutionizing the Vehicle Design Process

Application Area—Education and Training: Market Overview

Application Area—Education and Training: Case Study of EON Reality

Application Area—Education and Training: Case Study of McDonald’s “Till Training Game” Developed by Kineo

Application Area—Education and Training: Case Study of Jaguar Land Rover Involving Mixed Reality for its Recruitment Process

Application Area—Manufacturing, Robotics, and Engineering Supply Chain: Market Overview

Application Area—Manufacturing: Case Study of General Motors Using Virtual Reality to Design Future Vehicles

Application Area—Manufacturing: Case Study of GE’s Plant Simulator Solutions Offering Real-time Controls

Application Area—Manufacturing, Robotics, and Engineering Supply Chain: Case Study of DHL Using AR for Warehousing Management

Application Area—Manufacturing: Case Study of Lockheed Martin Using AR Technology to Improve Assembly Job

Application Area—Manufacturing, Robotics, and Engineering: Case Study of Ford’s Immersion Lab

The Mainstreaming of Augmented Reality for B2B

Application Area—Healthcare: Market Overview

Application Area—HealthCare: Case Study of ImmersiveTouch

Application Area—HealthCare: Case Study of MindMotion PRO Offering Virtual Therapy

Application Area—HealthCare: Case Study of VRPhysio Offering Immersive Experience in Physical Fitness

Application Area—Retail and Hospitality: Market Overview

Application Area—Retail and Hospitality: Case Study of IKEA Offering Real-time Customized Rendering of Product Features

Application Area—Retail and Hospitality: Case Study of Best Western Plus Kelowna Hotel & Suites Offering VR Experiences to the Guests

Application Area—Retail and Hospitality: Case Study of Alibaba Group VR Shopping Experience

Application Area—Entertainment: Market Overview

Application Area—Entertainment: Case Study of Virtual Reality Enabled Theme Park at Dubai

Vendor Landscape

Mapping of Future Opportunities Across AR/VR Applications

Methodology for Application Map

Y-Axis Notes for the Application Map

Y-Axis Notes for the Application Map (continued)

Y-Axis Notes for the Application Map (continued)

Implications and Recommendations for Vertical Industries

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Related Research
The immersive technology market, including augmented and virtual reality, is expected to see huge growth in the next 5 years. Technological advancements such as 5G and artificial intelligence will transform the augmented and virtual experiences in the future. 5G will bring improved mobile broadband along with advanced capacity, more uniform experience with steadily high data rates, and lower latency which will improve the screen and equipment quality of AR and VR devices. Some of the significant impacts of 5G across sectors could be enabling virtually crafted workplaces and fully interactive and emulating in-office work environments. Video streaming of AR and VR content in moving vehicles like cars and trucks is a possibility. Similarly, recent developments in deep learning will elevate real-time image and speech recognition, lessen the cost of local processing and storage, multiply network bandwidth, enabling richer data streams, and also enabling cloud availability. Artificial intelligence will thus, facilitate innovative kinds of VR as well as AR experiences and platforms in future for collaboration and interaction; thus, disrupting both enterprise and well as consumer sectors. The AR and VR market revenue is expected to reach $55.01 billion by 2021. Growth will mainly be derived by AR and VR applications in manufacturing and simulation modeling. Advancements in technology such as 5G, artificial intelligence, edge computing, and robotics are expected to transform the augmented and virtual reality experiences in the near future. This transformation will give rise to future opportunities in sectors such as media, gaming, telepresence, retail, medicine, and education. The hardware market of AR and VR will grow tremendously by 2021, mainly due to a 10-fold increase in AR and VR headset shipments by 2021. VR application in the manufacturing sector is projected to increase by 98.9% between 2017 and 2021. AR application in the education and training sector will see trem
More Information
No Index No
Podcast No
Author Malabika Mandal
Industries Cross Industries
WIP Number K22B-01-00-00-00
Is Prebook No
GPS Codes 9A3B,9B07-C1