Posted 1/8/2024, 3:00:00 PM
Augmented and Virtual Reality Market Set to Skyrocket Nearly $365 Billion by 2027, Driven by Asia Pacific Growth
- The augmented reality (AR) and virtual reality (VR) market is projected to grow by $364.55 billion between 2022-2027 at a CAGR of 52.37%
- The Asia Pacific (APAC) region is expected to grow at 35% from 2022-2027
- Key growth drivers include escalating demands for AR and VR technology across areas like gaming, training, healthcare, and more
- Leading trends include increased funding for AR/VR startups and advancements in wearables, mobile apps, and social platforms
- Major players include Lenovo Group Ltd., Samsung Electronics Co. Ltd., and Alphabet Inc.