Skip to main content

AR and VR Market Size, Share, Growth, Trends, Applications, and Industry Strategies

To lure in more customers, the retail and e-commerce sector is rapidly adopting the augmented reality (AR) and virtual reality (VR) technologies. For instance, many retailers are offering AR-integrated mobile apps that give customers a virtual tour of the store, so they can make more-informed purchase decisions when physically there. Similarly, by gamifying such mobile apps, companies can increase brand awareness.
 
Another application of AR and VR in the retail sector is product customization, wherein people can use the AR/VR features on the mobile apps for the purpose. Thus, one of the key drivers for the rising demand for AR and VR solutions is the burgeoning smartphone adoption. With people’s growing disposable income, especially in developing countries, the sale of mobile phones and tablets is picking up.
 


This is giving technology vendors the opportunity to use these consumer electronics as the key interface for their AR/VR applications and programs. Currently, an array of AR/VR-based mobile apps are available for architecture, interior designing, furnishing, education, and e-commerce. With the number of smartphone users already forecast to have touched 3.5 billion by 2020-end, opportunities galore for AR/VR companies.

Moreover, to attract customers, players in the AR and VR market are focusing on making their hardware components more aesthetically appealing. Additionally, tech and consumer electronics companies are integrating haptic and gesture control features in their AR/VR apps to widen the applications of these technologies and, in turn, expand their customer base. Similarly, advancements are being brought about in the user controls, display quality, battery life, and motion tracking features, so that the devices and applications can support a wider field of view and transparent displays.

Hence, with the improvements in the AR/VR technology, its uptake will keep on increasing.
Labels:

Comments

Post a Comment

Popular posts from this blog

Revenue Explosion Predicted in Global Micro Battery Market During 2020—2024

The global micro battery market had a valuation of $418.2 million in 2018 and is predicted to generate a revenue of $1,100.0 million by 2024. Furthermore, the market will exhibit a CAGR of 18.4% between 2019 and 2024. The increasing usage of wearable devices, the rising integration of the internet of things (IoT) in medical devices, and the soaring usage of compact batteries in healthcare applications are the major factors fueling the progress of the market. The rising incorporation of the IoT in medical devices is an important factor propelling the growth of the micro battery market across the globe. With the soaring population levels and the rising prevalence of chronic diseases in various countries, the healthcare industry is rapidly adopting high-tech solutions. The growing usage of advanced medical devices and wearable electronics is causing huge improvements in patient care and treatment procedures. Moreover, it is massively reducing the healthcare costs.  For example, medic...
Post a Comment
Read more

Escalating Prevalence of Frauds Fueling Demand for Fraud Detection and Prevention Technologies

The rising incidence of mobile frauds is a major factor responsible for the growing popularity of fraud detection and prevention solutions around the world. During the last few years, online transactions through mobile devices have witnessed a sharp surge in popularity and this trend will continue in the future years, on account of the surging penetration of the internet and smartphones across the world.  Get the Sample Copy of this Report @  https://www.psmarketresearch.com/market-analysis/fraud-detection-and-prevention-market/report-sample The rising adoption of these transactions is augmenting the incidence of fraudulent activities. According to reports, around 49% of all risky transactions were carried out through mobile devices in early 2019. Moreover, cybercriminals are extensively using various mobile emulators that run on desktop systems and allow fraudsters to accurately mimic iOS and Android devices.  This is making the adoption of fraud detection and prevention...
Post a Comment
Read more

Smartwatch Market Driven by Increasing Health Consciousness

The smartwatch market is expected to exhibit a CAGR of 22.7% during the forecast period due to the increasing consciousness regarding personal health and fitness and growing application of automotive control features in smartwatches. These growth drivers will result in an increase in the value of the market from $10,223.9 million in 2017 to around $43,800.0 million by 2023. Moreover, the demand for computerized wristwatches equipped with basic smart, waterproof, and shockproof features is increasing, which is why manufacturers are introducing customizable products. One of the key factors driving the market growth is the surge in the deployment of automotive control features in smartwatches. For this, market players are focusing on the development of app-based offerings that are compatible with the current series of smartwatches. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/smartwatch-market/report-sample These new-generation smartwatches have sm...
Post a Comment
Read more