North America Augmented Reality and Virtual Reality Market is expected to reach US$ 100,109.48 Million by 2028

Augmented Reality Segment to Dominate North America Augmented Reality and Virtual Reality Market during 2019–2028

According to a new market research study on “North America 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$ 100,109.48 million by 2028 from US$ 11,623.09 million in 2021. The market is estimated to grow at a CAGR of 36.0% from 2021 to 2028.

Investments in AR and VR technologies is the major factor driving the growth of the North America augmented reality and virtual reality market. However, security and privacy issues may hinder the growth of North America augmented reality and virtual reality market. The report provides trends prevailing in the North America augmented reality and virtual reality market along with the drivers and restraints pertaining to the market growth.

The North America Augmented reality and virtual reality market is segmented based on technology, component, end-user industry, and country. On the basis of technology, the North America augmented reality and virtual reality market is bifurcated into augmented reality and virtual reality. In 2020, the augmented reality segment held the largest share North America 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 North America 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 North America augmented reality and virtual reality market. Similarly, based on country, the North America augmented reality and virtual reality market is segmented into the US, Canada, and Mexico. The US contributed a substantial share in 2020. 

EON Reality; Google LLC; Immersive Gaze; Innovega Inc.; Vuzix Corporation; YeppAR; and Zugara, Inc. are among the leading companies in the North America 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, The existing cooperation between EON Reality and Los Angeles City College (LACC) has been expanded. LACC has engaged EON-XR and Augmented and Virtual Reality professionals to assist instructors in developing and creating customized XR classes and experiences tailored to their specific needs.

North America Augmented Reality and Virtual Reality Market, By Country, 2020 and 2028 (%)