Development Of Telecommunication Networks Is Driving The Augmented Reality (AR) and Virtual Reality (VR) Market Growth

Global augmented reality & virtual reality market is expected to grow at a significant rate during the forecast period. An increase in penetration of internet services and the development of telecommunication networks is driving the augmented reality & virtual reality market growth. The rise in disposable income among middle-class families is increasing the expenditure capacity of the consumers to buy advanced technology and connected devices. The high proliferation of smartphones across the world is enabling users to indulge in interactive online gaming applications which in turn is fueling the augmented reality and virtual reality market growth. Market players are investing huge amounts to increase the reach of their augmented reality and virtual reality solutions by adopting attractive marketing strategies and hiring celebrities for advertisement purposes. 

Augmented reality and virtual reality technology find use in different applications such as military training, flight training, meeting, collaborative seminars, public lectures, among others which are further enhancing the demand for these technologies in the next five years. The use of augmented reality and virtual reality technology is a cost-effective solution as it provides the user a real-time experience without actually investing to create such environments. In-flight training, the use of actual airplanes would be a high-end investment, also in the healthcare sector the use of actual bodies to provide training to the students is unethical, therefore the institutes use the advanced technologies to provide effective and affordable training to students.

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Global augmented reality & virtual reality market is segmented into product type, organization size, offering, application, end user, regional distribution, and company. Based on regional analysis, Asia-pacific is dominating the market and is expected to maintain its dominance throughout the forecast period, 2022-2026. The presence of major manufacturers of the display panel in the region and the rise in adoption of advanced technology solutions is driving the growth of the market in this region.

The major players operating in the global augmented reality & virtual reality market are Alphabet Inc., DAQRI LLC, Facebook Inc., HP Inc., HTC Corporation, Magic Leap Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Toshiba Corporation, among others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Years considered for this report:

  • Historical Years: 2016-2019
  • Base Year: 2020
  • Estimated Year: 2021
  • Forecast Period: 2022–2026

Objective of the Study:

  • To analyze the historical growth of the market size of global augmented reality & virtual reality market from 2016 to 2019.
  • To estimate and forecast the market size of global augmented reality & virtual reality market from 2020 to 2026 and growth rate until 2026.
  • To classify and forecast global augmented reality & virtual reality market based on product type, organization size, offering, application, end user, regional distribution, and company.
  • To identify dominant region or segment in the global augmented reality & virtual reality.
  • To identify drivers and challenges for global augmented reality & virtual reality market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global augmented reality & virtual reality market.
  • To identify and analyze the profile of leading players operating in global augmented reality & virtual reality market.
  • To identify key sustainable strategies adopted by market players in global augmented reality & virtual reality market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of global augmented reality & virtual reality market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • augmented reality & virtual reality service provider companies
  • Market research and consulting firms
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums, and alliances related to augmented reality & virtual reality market.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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