Augmented Reality and Virtual Reality Market by technology type, device type, display and application, organization, and geography



The expanding demands of augmented reality in the healthcare sector is paving the way for its growth in the market. Augmented reality can be used in surgeries, patient care, fitness and pharmacy management.

NEW YORK, June 15, 2022 (GLOBE NEWSWIRE) – announces the release of the report “Augmented Reality and Virtual Reality Market by Technology Type, Device Type, Display, Application, Organization and Geography – Global Outlook to 2027” –

With its use in all these aspects, AR can also be used for medical training of budding students/surgeons. Augmented reality provides an immersive, augmented reality-style 3D visualization of a patient’s internal organs to the surgeon so that surgery can be performed. They are made with minimalistic and meticulous conquest.

Augmented reality-style 3D visualization helps medical faculty provide an immersive learning experience for budding students/surgeons.
Augmented reality makes it easier for the surgeon to visualize joints, muscles and internal organs without making incisions in the patient’s body and to make more decisions about the incisions after the diagnosis of the body through augmented reality technologies, leading to increased accuracy of diagnosis as well as surgeries.

The availability of real-time data for patients facilitates the further growth and use of augmented reality technology, creating remarkable importance in the healthcare sector. Augmented reality, due to its accuracy, accuracy and convenience for surgeons, has proven to be a time-saving technology.
Augmented reality can be used to enhance the workflow of surgeons in the operating room, and doctors can also call an expert for phone support.

For example, in 2016, British physician David Knott directed remote lifesaving operations in Aleppo (Syria) using Skype, and Case Western Reserve University (US) and Cleveland Clinic (US) entered into a joint project to bring 3D content to the real world. For medical education via augmented reality using Microsoft HoloLens.

Touch Surgery (UK) has created over 200 training programs for surgical procedures to be completed on a mobile phone or tablet. This will help the surgeons to plan the patient’s virtual surgery and treat patients in a better way.

Increased investment in the augmented reality market
Investments in the augmented reality market have experienced tremendous growth over the past few years. Companies such as Facebook Corporation, Intel Corporation, and Qualcomm, Inc. are investing. and Alphabet, Inc. And Comcast Ventures and Samsung Group are heavily involved in the AR market. Also, many research institutes are conducting research in the augmented reality applications market for various products and applications. Some research institutes are funded by private companies and venture capitalists, while some are funded by governments. Industries such as consumer, aerospace, defense, healthcare, enterprise, retail, and marketing are embracing the benefits of augmented reality.
For example, Boeing announced a new setup named HorizonX. The company will invest in some companies to start with, including Upskill, a major enterprise software company for industrial AR devices, and Zunum Aero.

Hacking virtual reality engineering and technologies
Virtual reality has come into the picture in the field of architecture and construction. . The field of architecture and construction has undergone a technical evolution with the advent of VirtulaReality and 3D technologies. Using VR helps to analyze and study designs alternatives more conveniently by achieving a fully immersive experience for users and taking the working experience of architects as well as clients to the next level. This seamless transition of traditional design paradigms by clients to a full virtual 3D experience by walking into design expertise helps the client make changes and approve designs only after they are completely satisfied with the design. To locate raw materials and equipment during the construction phase. Virtual reality can also be used to supervise work from remote locations. Therefore, with the increasing demand for infrastructure, the increasing use of virtual reality in it will lead to growth in the virtual reality market.

High investment in the virtual reality market
VR technology is bringing huge investment from investors and tech giants, as VR startup Decentraland has raised funding to create a virtual world using blockchain technology.

The amount was raised through Initial Coin Offerings (ICO). Similarly, the Finnish company Varjo raised the funding in the first round.

In July 2017, Leap Motion received Series C funding led by clients advised by JP Morgan Asset Management. This will help the company expand its presence, especially in Asia.

In December 2016, High Fidelity raised the funding, led by IDG Capital and Brayer Capital. The high fidelity allows users to host, build, and join interconnected virtual worlds for an ongoing Metaverse.
In October 2016, Baobab Studios raised funding from B led by Horizons Ventures, Evolution Media Partners, Twentieth Century Fox, Youku Global Media Fund, Shanghai Media Group in China and LDV Partners. The company is looking to add richer content in storytelling with VR.

Increased investments in the virtual reality market will drive the market.

The Asia Pacific region is growing at the fastest rate in the forecast period
With the increasing number of startups and the boom of technological advancement in the Asia Pacific region, the fastest growth rate will be in this region and the increasing population as well as the maximum demographic contribution of the world population in this region makes it possible and viable to access augmented reality technologies This is for a larger group of people.

The growing technology companies in the region, which focus on training, virtual experiences for apparel, jewelry and makeup, virtual shopping for furniture, HUDs in low-cost vehicles, virtual map assistance, gesture trackers and smart glasses will lead to the growth of this market in the given forecast period from 2022 to 2027.

Detailing the profiles of the main participants:
• By company: Level 1 = 15%, Level 2 = 50%, Level 3 = 35%
• By designation: C-level executives = 45%, managers = 25%, others (sales, marketing and product managers, plus members of various organizations) = 30%
• By region: North America = 45%, Asia Pacific = 12%, Europe = 35%, South America = 3%, Middle East and Africa = 5%.

Key players mentioned in this report:
TheAR and VR market is dominated by a few well-established players such as Google (US), Microsoft (US), Sony Corporation (Japan), Samsung Electronics (South Korea), HTC (Taiwan), and Apple Inc. and (US) and PTC Inc. , (US), Seiko Epson (Japan), Oculus VR (by Facebook (US)), Lenovo (China).

Research coverage
This report provides detailed insights into the VR and VR market based on presentation (hardware and software), technology (tag-less and tag-based for augmented reality, non-immersive and semi-immersive virtual reality technologies), and device type (head-mounted displays) (smart glasses, smart helmets) , head-up display, projectors and screens, gesture trackers), enterprise (small enterprise, medium enterprise, large enterprise), application (consumer, commercial, enterprise, aerospace and defense, healthcare, automotive, others) and region (North America, Europe, Asia Pacific) and Rest of the World (RoW), which includes the Middle East, Africa and South America.
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the Augmented and Virtual Reality market. The report also covers qualitative as well as quantitative aspects of these markets.

The main benefits of purchasing the report
The report will help the new leaders / entrants in this market with information on the closest approximations of revenue figures for the total market and sub-segments, this report will help the stakeholders to understand the competitive landscape and gain more ideas to improve their business position. and planning appropriate market entry strategies.

The report also helps stakeholders to understand the pulse of the Augmented and Virtual Reality market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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