The global augmented reality market is expected to reach USD 117.40 Billion by 2022 at a CAGR of 75.72% during the forecast period. The global virtual reality market is expected to reach USD 33.90 Billion by 2022 at a CAGR of 57.84% during the forecast period. The use of hardware devices such as HMDs and head-up displays enabled with virtual reality technology are majorly used as they provide a fully-immersive experience and are suitable for multiple applications. The virtual reality market for the consumer vertical has been estimated to grow at the highest CAGR between 2016 and 2022. Software components for this report include software developer kits and software solutions; this market is projected to grow rapidly in the near future owing to the large application in almost all verticals. In this report, 2014 has been considered as the historical year, 2015 has been considered as the base year, and the period from 2016 to 2022 has been considered as the forecast period for the study of augmented reality and virtual reality market.
Taas labs provides valuable insights regarding the augmented reality and virtual reality ecosystem that includes product developers and application developers, OEMs, system integrators, middleware and firmware providers, suppliers and distributors, camera manufacturers, software developers, smart glasses and wearables developers, sensor providers, and standardization & testing firms.