The augmented reality and virtual reality market is expected to grow from US$ 27.96 billion in 2021 to US$ 252.16 billion by 2028; it is estimated to grow at a CAGR of 36.9% during 2021–2028.
The COVID-19 pandemic drastically affected the travel sector in the world in 2020 and early 2021. This sector is increasingly implementing AR and VR technologies to offer people a traveling experience by staying in their own homes. People could explore the world by sitting comfortably on their couches. Thus, companies are working hard to transform travel experiences with the help of self-guided tours technology. AR technology alters travelers' perceptions of their physical surroundings and provides supplemental tourism experiences and opportunities for interaction. According to an article published by Forbes in April 2021, City Guide Tour and similar AR mobile apps use object recognition to offer on-screen information about destinations of interest, including museums, landmarks, galleries, and parks, as tourists stroll through a town or city. The Street Life mobile app offers a library of crowd-sourced guided tours; viewers can watch this from home or navigate through in-person travel adventures while uploading their images. AR-powered glasses provide a more immersive experience, adding an element of fun and eliminating the need for a tour guide.First Airlines offers immersive virtual reality travel trips to Rome, Hawaii, and Paris. Its VR experiences include first-class airline tickets with four-course meals, followed by VR tours of the main sights of destinations. Viewers can also explore virtual travel experiences through Google Earth VR, Oculus, and Immerse from The Hydrous. After the mitigation of the COVID-19 pandemic, these transformations in the travel sector will continue to enhance the augmented reality and virtual reality market growth as it is impossible for everyone to travel anywhere at any time. Trips with immersive experiences are affordable and bring endless joy to the viewer.
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Augmented Reality and Virtual Reality Market: Strategic Insights
Market Size Value in US$ 27.96 billion in 2021 Market Size Value by US$ 252.16 billion by 2028 Growth rate CAGR of 36.9% from 2021 to 2028. Forecast Period 2021- 2028 Base Year 2021
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Augmented Reality and Virtual Reality Market: Strategic Insights
| Market Size Value in | US$ 27.96 billion in 2021 |
| Market Size Value by | US$ 252.16 billion by 2028 |
| Growth rate | CAGR of 36.9% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Augmented Reality and Virtual Reality Market
As augmented reality (AR) and virtual reality (VR) technologies are used in head-mounted displays (HMDs), they are expected to be majorly adopted by medical professionals as protective gear in the coming years. Despite the negative impact of the COVID-19 pandemic-associated lockdowns and low cross-border trade, the augmented reality and virtual reality market has continued to grow with the increasing shift toward adopting AR and VR technologies, and businesses switching to remote working or hybrid working. According to an article published by the INEWS, in 2020, the China Spring Cloud Auto Show was organized by combining AR technology, big data, Web 3D, panoramic content, and other technologies to present cutting-edge technologies and products from multiple perspectives. Therefore, the overall impact of the COVID-19 pandemic on the global augmented reality and virtual reality market in 2020 was positive. In 2021, HTC Corporation conducted an online conference for developers using VR technology. Also, the digital transformation of several businesses in sectors such as retail (e-commerce), education (e-learning), and healthcare (advanced equipment) would support the growth of the augmented reality and virtual reality market in the coming years.
Lucrative Regions for Augmented Reality and Virtual Reality Market
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Augmented Reality and Virtual Reality Market Insights
Immersive Learning Experience with VR, AR, and Gamification Boosts Augmented Reality and Virtual Reality Market Growth
In the last few decades, the learning analytics landscape has dramatically expanded, especially for higher education. Students learn faster when they engage in the gamified version of lessons. Gaming features help create a fun and productive learning experience for learners. Gamification is common in e-learning platforms meant for K-12 level students. According to an article published by EducationWorld in December 2019, STEPapp launched India's first-of-its-kind gamified learning edtech app to revolutionize K-12 education in the country.
Further, since the introduction of virtual reality and augmented reality into education, the sector has experienced tremendous transformation in learning. VR provides a built reality, and AR provides an image with an improved view. Thus, a surge in the integration of virtual reality, augmented reality, and gamification technologies into educational techniques would offer better academic results and create demand for AR and VR solutions in augmented reality and virtual reality market growth.
Technology-Based Market Insights
Based on technology, the augmented reality and virtual reality market is segmented into augmented reality and virtual reality. In 2021, the augmented reality segment led the augmented reality and virtual reality market with a larger share.
Augmented Reality and Virtual Reality Market, by Technology, 2020 and 2028 (%)
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Component - Based Market Insights
Based on component, the augmented reality and virtual reality market is segmented into semiconductor components, sensors, and others. In 2021, the semiconductor components segment accounted for the largest market share.End-User Industry-Based Market Insights
Based on end-user industry, the augmented reality and virtual reality market is segmented into entertainment, educational, industrial, medical, real estate & architecture, retail, aerospace & defense, and others. In 2021, the entertainment segment accounted for the largest market share.
The players operating in the augmented reality and virtual reality market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the augmented reality and virtual reality market. A few developments by key players are listed below:
- In February 2022, EON Reality and LA City College offered extended reality (xr) solutions for new programs and colleges.
- In February 2022, EON Reality and Nanyang Polytechnic renewed their partnership to create a new knowledge metaverse hub and expand it in Singapore. NYP will join EON Reality's global and ever-growing knowledge metaverse to take another step into the future of interactive teaching.
Company Profiles
- Immersive Gaze
- Google LLC
- EON Reality
- Vuzix Corporation
- Blippar Group Limited (Layar B V)
- Innovega Inc.
- Simulanis Solutions Private Limited
- Kanda ApS
- YeppAR
- Zugara, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology, Component, and End-User Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Growing use of virtual reality to offer better customer experience in online retail and immersive learning experience with VR, AR, & gamification are driving the growth of the augmented reality and virtual reality market.
The market opportunity lies in developing countries. Developing countries have become a hub of opportunity for various markets, including augmented reality and virtual reality market. Further, the investments in AR and VR technologies are presenting significant potential for the future growth of the augmented reality and virtual reality market players.
Based on technology, the augmented reality and virtual reality market is segmented into augmented reality and virtual reality. In 2021, the augmented reality segment led the augmented reality and virtual reality market, accounting for the largest share in the market.
In 2021, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific (APAC). North America is a prospective market for augmented reality and virtual reality solution developers.
The major five companies in augmented reality and virtual reality includes Google LLC, EON Reality, Immersive Gaze, Blippar Group Limited (Layar B V), and Vuzix Corporation.
Based on component, the augmented reality and virtual reality market can be segmented into semiconductor components, sensors, and others. In 2021, the semiconductor components segment accounted for the largest market share.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Augmented Reality and Virtual Reality Market – By Technology
1.3.2 Global Augmented Reality and Virtual Reality Market – By Component
1.3.3 Global Augmented Reality and Virtual Reality Market – By End-user Industry
1.3.4 Global Augmented Reality and Virtual Reality Market – By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Augmented Reality and Virtual Reality Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe – PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Augmented Reality and Virtual Reality Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Use of Virtual Reality to Offer Better Customer Experience in Online Retail
5.1.2 Immersive Learning Experience with VR, AR, and Gamification
5.2 Market Restraints
5.2.1 Security and Privacy Issues
5.3 Market Opportunities
5.3.1 Investments in AR and VR Technologies
5.4 Future Trends
5.4.1 Transformation of Travel Sector with AR & VR
5.5 Impact Analysis of Drivers and Restraints
6. Augmented Reality and Virtual Reality Market – Global Market Analysis
6.1 Global Augmented Reality and Virtual Reality Market Overview
6.2 Global Augmented Reality and Virtual Reality Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Augmented Reality and Virtual Reality Market Analysis – By Technology
7.1 Overview
7.2 Augmented Reality and Virtual Reality, by Technology (2020 and 2028)
7.3 Augmented Reality
7.3.1 Overview
7.3.2 Augmented Reality: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Virtual Reality
7.4.1 Overview
7.4.2 Virtual Reality: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
8. Augmented Reality and Virtual Reality Market – By Component
8.1 Overview
8.2 Augmented Reality and Virtual Reality, by Component (2020 and 2028)
8.3 Semiconductor Components
8.3.1 Overview
8.3.2 Semiconductor Components: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Sensors
8.4.1 Overview
8.4.2 Sensors: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
9. Augmented Reality and Virtual Reality Market – By End-user Industry
9.1 Overview
9.2 Augmented Reality and Virtual Reality, by End-user Industry (2020 and 2028)
9.3 Entertainment
9.3.1 Overview
9.3.2 Entertainment: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Educational
9.4.1 Overview
9.4.2 Educational: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Medical
9.6.1 Overview
9.6.2 Medical: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Real Estate and Architecture
9.7.1 Overview
9.7.2 Real Estate and Architecture: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
9.8 Retail
9.8.1 Overview
9.8.2 Retail: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
9.9 Aerospace and Defense
9.9.1 Overview
9.9.2 Aerospace and Defense: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
9.10 Others
9.10.1 Overview
9.10.2 Others: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
10. Augmented Reality and Virtual Reality Market – Geographic Analysis
10.1 Overview
10.2 North America: Augmented Reality and Virtual Reality Market
10.2.1 Overview
10.2.2 North America Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.2.3 North America Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.2.4 North America Augmented Reality and Virtual Reality Market Breakdown, By Components
10.2.5 North America Augmented Reality and Virtual Reality Market Breakdown, by Country
10.2.5.1 US Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.2.5.1.1 US Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.2.5.1.2 US Augmented Reality and Virtual Reality Market Breakdown, By Components
10.2.5.1.3 US Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.2.5.2 Canada Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.2.5.2.1 Canada Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.2.5.2.2 Canada Augmented Reality and Virtual Reality Market Breakdown, By Components
10.2.5.2.3 Canada Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.2.5.3 Mexico Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.2.5.3.1 Mexico Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.2.5.3.2 Mexico Augmented Reality and Virtual Reality Market Breakdown, By Components
10.2.5.3.3 Mexico Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3 Europe: Augmented Reality and Virtual Reality Market
10.3.1 Overview
10.3.2 Europe Augmented Reality and Virtual Reality Market Revenue and Forecast to 2028 (US$ million)
10.3.3 Europe Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.4 Europe Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.5 Europe Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6 Europe Augmented Reality and Virtual Reality Market Breakdown, by Country
10.3.6.1 Germany Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.3.6.1.1 Germany Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.1.2 Germany Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.1.3 Germany Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6.2 France Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.3.6.2.1 France Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.2.2 France Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.2.3 France Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6.3 Italy Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.3.6.3.1 Italy Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.3.2 Italy Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.3.3 Italy Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6.4 UK Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.3.6.4.1 UK Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.4.2 UK Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.4.3 UK Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6.5 Russia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.3.6.5.1 Russia Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.5.2 Russia Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.5.3 Russia Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.3.6.6 Rest of Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.3.6.6.1 Rest of Europe Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.3.6.6.2 Rest of Europe Augmented Reality and Virtual Reality Market Breakdown, By Components
10.3.6.6.3 Rest of Europe Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4 APAC: Augmented Reality and Virtual Reality Market
10.4.1 Overview
10.4.2 APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.3 APAC Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.4 APAC Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.5 APAC Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6 APAC Augmented Reality and Virtual Reality Market Breakdown, by Country
10.4.6.1 Australia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.1.1 Australia Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.1.2 Australia Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.1.3 Australia Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6.2 China Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.2.1 China Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.2.2 China Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.2.3 China Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6.3 India Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.3.1 India Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.3.2 India Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.3.3 India Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6.4 Japan Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.4.1 Japan Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.4.2 Japan Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.4.3 Japan Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6.5 South Korea Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.5.1 South Korea Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.5.2 South Korea Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.5.3 South Korea Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.4.6.6 Rest of APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.6.1 Rest of APAC Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.4.6.6.2 Rest of APAC Augmented Reality and Virtual Reality Market Breakdown, By Components
10.4.6.6.3 Rest of APAC Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.5 MEA: Augmented Reality and Virtual Reality Market
10.5.1 Overview
10.5.2 MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.5.3 MEA Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.5.4 MEA Augmented Reality and Virtual Reality Market Breakdown, By Components
10.5.5 MEA Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.5.6 MEA Augmented Reality and Virtual Reality Market Breakdown, By Country
10.5.6.1 Saudi Arabia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.1.1 Saudi Arabia Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.5.6.1.2 Saudi Arabia Augmented Reality and Virtual Reality Market Breakdown, By Components
10.5.6.1.3 Saudi Arabia Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.5.6.2 UAE Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.2.1 UAE Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.5.6.2.2 UAE Augmented Reality and Virtual Reality Market Breakdown, By Components
10.5.6.2.3 UAE Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.5.6.3 South Africa Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.3.1 South Africa Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.5.6.3.2 South Africa Augmented Reality and Virtual Reality Market Breakdown, By Components
10.5.6.3.3 South Africa Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.5.6.4 Rest of MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.4.1 Rest of MEA Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.5.6.4.2 Rest of MEA Augmented Reality and Virtual Reality Market Breakdown, By Components
10.5.6.4.3 Rest of MEA Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.6 SAM: Augmented Reality and Virtual Reality Market
10.6.1 Overview
10.6.2 SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
10.6.3 SAM Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.6.4 SAM Augmented Reality and Virtual Reality Market Breakdown, By Components
10.6.5 SAM Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.6.6 SAM Augmented Reality and Virtual Reality Market Breakdown, by Country
10.6.6.1 Brazil Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.6.6.1.1 Brazil Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.6.6.1.2 Brazil Augmented Reality and Virtual Reality Market Breakdown, By Components
10.6.6.1.3 Brazil Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.6.6.2 Argentina Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.6.6.2.1 Argentina Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.6.6.2.2 Argentina Augmented Reality and Virtual Reality Market Breakdown, By Components
10.6.6.2.3 Argentina Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
10.6.6.3 Rest of SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028
10.6.6.3.1 Rest of SAM Augmented Reality and Virtual Reality Market Breakdown, By Technology
10.6.6.3.2 Rest of SAM Augmented Reality and Virtual Reality Market Breakdown, By Components
10.6.6.3.3 Rest of SAM Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
11. Augmented Reality and Virtual Reality Market - COVID-19 Impact Analysis
11.1 Overview
11.2 North America
11.3 Europe
11.4 APAC
11.5 MEA
11.6 SAM
12. Augmented Reality and Virtual Reality Market - End-user Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Development
13. Company Profiles
13.1 Immersive Gaze
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Google LLC
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 EON Reality.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Vuzix Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Blippar Group Limited (Layar B V)
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Innovega Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Simulanis Solutions Private Limited
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Kanda ApS
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 YeppAR
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Zugara, Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary
LIST OF TABLES
Table 1. Global Augmented Reality and Virtual Reality Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Table 2. North America Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Technology (US$ million)
Table 3. North America Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Components (US$ million)
Table 4. North America Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry
Table 5. North America Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By End-user Industry (US$ million)
Table 6. North America Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 7. US Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 8. US Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 9. US Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 10. Canada Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 11. Canada Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 12. Canada Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 13. Mexico Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 14. Mexico Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 15. Mexico Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 16. Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Technology (US$ million)
Table 17. Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Components (US$ million)
Table 18. Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By End-user Industry (US$ million)
Table 19. Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 20. Germany Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 21. Germany Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 22. Germany Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 23. France Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 24. France Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 25. France Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 26. Italy Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 27. Italy Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 28. Italy Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 29. UK Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 30. UK Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 31. UK Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 32. Russia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 33. Russia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 34. Russia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 35. Rest of Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 36. Rest of Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 37. Rest of Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 38. APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Technology (US$ million)
Table 39. APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Components (US$ million)
Table 40. APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By End-user Industry (US$ million)
Table 41. APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 42. Australia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 43. Australia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 44. Australia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 45. China Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 46. China Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 47. China Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 48. India Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 49. India Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 50. India Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 51. Japan Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 52. Japan Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 53. Japan Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 54. South Korea Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 55. South Korea Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 56. South Korea Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 57. Rest of APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 58. Rest of APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 59. Rest of APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 60. MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Technology (US$ million)
Table 61. MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Components (US$ million)
Table 62. MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By End-user Industry (US$ million)
Table 63. MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Country (US$ million)
Table 64. Saudi Arabia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 65. Saudi Arabia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 66. Saudi Arabia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 67. UAE Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 68. UAE Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 69. UAE Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 70. South Africa Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 71. South Africa Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 72. South Africa Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 73. Rest of MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 74. Rest of MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 75. Rest of MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 76. SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Technology (US$ million)
Table 77. SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Components (US$ million)
Table 78. SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By End-user Industry (US$ million)
Table 79. SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 80. Brazil Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 81. Brazil Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 82. Brazil Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 83. Argentina Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 84. Argentina Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 85. Argentina Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 86. Rest of SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Technology (US$ million)
Table 87. Rest of SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By Components (US$ million)
Table 88. Rest of SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 – By End-user Industry (US$ million)
Table 89. Glossary of Terms, Augmented Reality and Virtual Reality Market
LIST OF FIGURES
Figure 1. Augmented Reality and Virtual Reality Market Segmentation
Figure 2. Augmented Reality and Virtual Reality Market Segmentation - Geography
Figure 3. Augmented Reality and Virtual Reality Market Overview
Figure 4. Augmented Reality and Virtual Reality Market, By Technology
Figure 5. Augmented Reality and Virtual Reality Market, By Component
Figure 6. Augmented Reality and Virtual Reality Market, By End-user Industry
Figure 7. Augmented Reality and Virtual Reality Market, By Region
Figure 8. North America PEST Analysis
Figure 9. Europe – PEST Analysis
Figure 10. Asia Pacific PEST Analysis
Figure 11. Middle East & Africa PEST Analysis
Figure 12. South America PEST Analysis
Figure 13. Augmented Reality and Virtual Reality Market Ecosystem Analysis
Figure 14. Expert Opinion
Figure 15. Augmented Reality and Virtual Reality Market: Impact Analysis of Drivers and Restraints
Figure 16. Global Augmented Reality and Virtual Reality Market
Figure 17. Global Augmented Reality and Virtual Reality Market, Forecast and Analysis (US$ Mn)
Figure 18. Market Positioning- Top Five Players
Figure 19. Augmented Reality and Virtual Reality Market Revenue Share, by Technology (2020 and 2028)
Figure 20. Augmented Reality: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Virtual Reality: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Augmented Reality and Virtual Reality Market Revenue Share, by Component (2020 and 2028)
Figure 23. Semiconductor Components: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Sensors: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Others: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Augmented Reality and Virtual Reality Market Revenue Share, by End-user Industry (2020 and 2028)
Figure 27. Entertainment: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Educational: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Industrial: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Medical: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Real Estate and Architecture: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Retail: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Aerospace and Defense: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Others: Augmented Reality and Virtual Reality Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Global Augmented Reality and Virtual Reality Market Breakdown, by Region, 2020 & 2028 (%)
Figure 36. North America Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 37. North America Augmented Reality and Virtual Reality Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 38. North America Augmented Reality and Virtual Reality Market Breakdown, By Components, 2020 & 2028 (%)
Figure 39. North America Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry, 2020 & 2028 (%)
Figure 40. North America Augmented Reality and Virtual Reality Market Breakdown, by Country, 2020 & 2028 (%)
Figure 41. US Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 42. Canada Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 43. Mexico Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 44. Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 45. Europe Augmented Reality and Virtual Reality Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 46. Europe Augmented Reality and Virtual Reality Market Breakdown, By Components, 2020 & 2028 (%)
Figure 47. Europe Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry, 2020 & 2028 (%)
Figure 48. Europe Augmented Reality and Virtual Reality Market Breakdown, by Country, 2020 & 2028(%)
Figure 49. Germany Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 50. France Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 51. Italy Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 52. UK Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 53. Russia Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 54. Rest of Europe Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 55. APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 56. APAC Augmented Reality and Virtual Reality Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 57. APAC Augmented Reality and Virtual Reality Market Breakdown, By Components, 2020 & 2028 (%)
Figure 58. APAC Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry, 2020 & 2028 (%)
Figure 59. APAC Augmented Reality and Virtual Reality Market Breakdown, by Country, 2020 & 2028 (%)
Figure 60. Australia Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 61. China Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 62. India Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 63. Japan Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 64. South Korea Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 65. Rest of APAC Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 66. MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 67. MEA Augmented Reality and Virtual Reality Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 68. MEA Augmented Reality and Virtual Reality Market Breakdown, By Components, 2020 & 2028 (%)
Figure 69. MEA Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry, 2020 & 2028 (%)
Figure 70. MEA Augmented Reality and Virtual Reality Market Breakdown, By Country, 2020 & 2028 (%)
Figure 71. Saudi Arabia Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 72. UAE Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 73. South Africa Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 74. Rest of MEA Augmented Reality and Virtual Reality Market, Revenue and Forecast To 2028 (US$ million)
Figure 75. SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 76. SAM Augmented Reality and Virtual Reality Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 77. SAM Augmented Reality and Virtual Reality Market Breakdown, By Components, 2020 & 2028 (%)
Figure 78. SAM Augmented Reality and Virtual Reality Market Breakdown, By End-user Industry, 2020 & 2028 (%)
Figure 79. SAM Augmented Reality and Virtual Reality Market Breakdown, by Country, 2020 & 2028 (%)
Figure 80. Brazil Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 81. Argentina Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 82. Rest of SAM Augmented Reality and Virtual Reality Market, Revenue and Forecast to 2028 (US$ million)
Figure 83. Impact of COVID-19 Pandemic in North American Country Markets
Figure 84. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 85. Impact of COVID-19 Pandemic in APAC Country Markets
Figure 86. Impact of COVID-19 Pandemic in MEA Country Markets
Figure 87. Impact of COVID-19 Pandemic in SAM Country Markets
The List of Companies - Augmented Reality and Virtual Reality Market
- Immersive Gaze
- Google LLC
- EON Reality
- Vuzix Corporation
- Blippar Group Limited (Layar B V)
- Innovega Inc.
- imulanis Solutions Private Limited
- Kanda ApS
- YeppAR
- Zugara, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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