U.S. Augmented and Virtual Reality Market to Reach USD 134.76 Billion by 2030 | Top Players as – Apple, Niantic and PTC
The proliferation of smartphones and widespread adoption of AR in mobile gaming are driving the market.
PORTLAND, PORTLAND, OR, UNITED STATE, April 14, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The U.S. Augmented and Virtual Reality Market to Reach USD 134.76 Billion by 2030 | Top Players as – Apple, Niantic and PTC.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The U.S. augmented and virtual reality market size was valued at USD 4.39 billion in 2020, and is projected to reach USD 134.76 billion by 2030, registering a CAGR of 41.6% from 2021 to 2030.
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Rise in investments in the AR market, surge in penetration of smartphones, and cost-efficient benefits of augmented and virtual reality-based solutions drive the growth of the U.S. augmented and virtual reality market. Rise in usage of VR headsets in amusement and theme parks, commercial applications, and others creates new opportunities in the coming years.
The U.S. augmented and virtual reality market is segmented on the basis of component, application, enterprise size, industry vertical, and region. By component, it is divided into solution, service, and connectivity type. By application, it is bifurcated into consumer and enterprise. By enterprise size, it is categorized into large enterprise and SMEs. By industry vertical, it is classified into gaming, entertainment & media, aerospace & defense, healthcare, manufacturing, retail, education, and others.
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Based on industry vertical, the gaming segment held the highest share in 2020, accounting for around one-third of the total share, and is expected to continue its dominant share in terms of revenue by 2030. However, the healthcare segment is expected to manifest the largest CAGR of 46.1% during the forecast period.
Based on component, the solution segment accounted for the highest share in 2020, contributing to more than three-fourths of the total share, and is expected to maintain its lead position during the forecast period. However, the service segment is estimated to witness the highest CAGR of 45.5% from 2021 to 2030.
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Based on component, the solution segment accounted for the highest share in 2020, contributing to more than three-fourths of the total share, and is expected to maintain its lead position during the forecast period. However, the service segment is estimated to witness the highest CAGR of 45.5% from 2021 to 2030.
Leading players of the U.S. augmented and virtual reality market analyzed in the research include Apple Inc., Facebook Technologies, LLC (Oculus), Cyberglove Systems, Inc., Intel Corporation, Google, Inc., Microsoft Corporation, Magic Leap, Inc., PTC, Niantic, Inc., and Sixense Enterprises, Inc.
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Covid-19 Scenario:
● Rise in need among businesses to cater to customer requirements and increase their revenue opportunities resulted in increased demand for AR and VR solutions in the U.S during the pandemic.
● Moreover, surge in investment in AI from various private sectors such as medical research, healthcare, and others to fight against the pandemic led to the growth of the U.S. augmented and virtual reality market.
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