Report : Asia Pacific Augmented Reality and Virtual Reality Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Augmented Reality and Virtual Reality), Component (Semiconductor Components, Sensors, and Others), and End-User Industry (Entertainment, Educational, Industrial, Medical, Real Estate & Architecture, Retail, Aerospace & Defense, and Others)

Entertainment Segment to Dominate Asia-Pacific Augmented Reality and Virtual Reality Market during 2019–2028

According to a new market research study on “Asia-Pacific Augmented Reality and Virtual Reality Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Component, and End-user Industry,” is expected to reach US$ 61,023.91 million by 2028 from US$ 5,918.74 million in 2021. The market is estimated to grow at a CAGR of 39.6% from 2021 to 2028. Surge in use of virtual reality to offer better customer experience in online retail is the major factor driving the growth of the Asia-Pacific augmented reality and virtual reality market. However, security and privacy issues may hinder the growth of Asia-Pacific augmented reality and virtual reality market. The report provides trends prevailing in the Asia-Pacific augmented reality and virtual reality market along with the drivers and restraints pertaining to the market growth.

The Asia-Pacific Augmented reality and virtual reality market is segmented based on technology, component, end-user industry, and country. On the basis of technology, the Asia-Pacific augmented reality and virtual reality market is bifurcated into augmented reality and virtual reality. In 2020, the augmented reality segment held the largest share Asia-Pacific augmented reality and virtual reality market. Based on components, the market is segmented as sensors, semiconductor components, and others. In 2020, the semiconductor components segment held the largest share Asia-Pacific augmented reality and virtual reality market. On the basis of end-user industry, the market is segmented as entertainment, educational, industrial, medical, real estate and architecture, retail, aerospace and defense, and others. In 2020, the entertainment segment held the largest share Asia-Pacific augmented reality and virtual reality market. Similarly, based on country, the Asia-Pacific augmented reality and virtual reality market is segmented into China, Japan, India, Australia, South Korea, and the rest of Asia-Pacific. China contributed a substantial share in 2020.  

EON Reality, Google LLC, Immersive Gaze, Simulanis Solutions Private Limited, Vuzix Corporation, and YeppAR are among the leading companies in the Asia-Pacific augmented reality and virtual reality market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2022, To spread the knowledge metaverse in Singapore, EON Reality has teamed up with Nanyang Polytechnic (NYP). NYP will join EON Reality's worldwide and ever-growing knowledge metaverse, allowing the institution to take another step into the future of interactive teaching.

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