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AR & VR Headset Market Size, Industry Analysis Report By Organization Size(Large Enterprises and Small, Medium Sized Enterprises),By Application, (Consumer, Enterprise), By Industry Vertical (Gaming,Entertainment & Media, Aerospace & Defense, Healthcare, Education, Manufacturing, Retail) & Region – Forecasts By 2030

  • PUBLISHED ON
  • 1970-01-01
  • NO OF PAGES
  • 263
  • CATEGORY
  • Information Communication & Technology
Market - Overview

AR & VR Headset Market is valued at USD 29.38 billion in 2022 and is projected to reach a value of USD 451.21 billion in 2030 expanding at a CAGR of 40.7% over the forecast period of 2022-2030.

The growth of the mobile gaming industry and the rising internet connectivity act as the key drivers of the global AR and VR market over the forecast period.
Additionally, the rising use of consumer electronic devices is projected to fuel the of the global augmented and virtual reality market growth. AR and VR are also boosting deeper engagement between digital content and its viewers.

Because of covid 19, the digital connections have taken precedence in personal, professional, and entertainment arenas over the forecast period.

AR & VR Headset Market - Description

Games have become much more interactive as players can now immerse themselves in their characters completely.

The developers have been using AR, and VR technologies in order to create realistic images along with sound and other sensory capabilities so as to provide a virtual setting that stimulates the user's physical experience.

The AR lets gamers play in a multi-dimensional space that can be controlled by their body movement. VR also lets one to experience imaginary settings closer to the real world.

AR & VR Headset Market - Key Market Trends

• Proliferation of smartphones has boosted the market growth over the forecast period

Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the proliferation of smartphones. Also, the increase in popularity of gaming, cost-efficient benefits of AR and virtual reality-based solutions, and surge in adoption of AR and VR technologies by the enterprises have boosted the market growth over the forecast period.

• Increase in smartphone penetration has boosted the market growth

Another major factor that has fuelled the market growth over the forecast period is the increasing smartphone penetration. The increasing adoption of smartphones and technological advancements have allowed its users to view virtual images immersed in real contexts. Additionally, they are also able to connect with these images and objects to interact with them by simply using the camera on their smartphone devices and thus, are the major factors boosting the growth of the AR and VR market over the forecast period.

AR & VR Headset Market- Segmental Analysis 

Based on Organization Size
• Large Enterprises
• Small- & Medium-sized Enterprises

The large enterprises segment has dominated the market growth over the forecast period. This is because of the rise in applications of augmented and virtual reality in automotive, manufacturing, construction, extractive industry, aircraft, healthcare, education, law enforcement, and real estate industries.

Based on Application
• Consumer
• Enterprise

The enterprise segment has dominated the market growth over the forecast period. this is because of the increase in number of enterprises apart from gaming and other consumer entertainment subsectors are adopting and testing AR and VR technologies in an extensive range of work-related applications.

Based on Industry Vertical
• Gaming
• Entertainment & Media
• Aerospace & Defense
• Healthcare
• Education
• Manufacturing
• Retail
• Others

The gaming segment has dominated the market growth over the forecast period.

AR & VR Headset Market- Geographical Analysis 

The Global AR & VR Headset Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of North America is a home to major players that includes, Google, Facebook, DAQRI, and others, which offer advanced solutions. Moreover, enterprises in this region have invested on AR & VR along with simulation.

AR & VR Headset Market - Competitive Landscape

Some of the major players operating in the marker are Alphabet (Google Inc.), DAQRI, Facebook, HTC, Magic Leap, Inc, Microsoft Corporation, OSTERHOUT DESIGN GROUP, Samsung Electronics Co., Ltd, Sony, Wikitude.

Major Segments Covered

• Organization Size, (Large Enterprises and Small & Medium Sized Enterprises)
• Application, (Consumer and Enterprise)
• Industry Vertical (Gaming, Entertainment & Media, Aerospace & Defence, Healthcare, Education, Manufacturing, Retail, and Others)

Key Countries and Regions covered

• North America (US, Canada, and Mexico)
• Europe (UK, Germany, France, Italy, Netherlands, and Rest of Europe)
• Asia Pacific (China, Japan, South Korea, and Rest of APAC)
• Middle east and Africa

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


Frequently Asked Questions

What is the market size and growth projections?

The Global AR & VR Headset Market is valued at USD 29.38 billion in 2022 and is projected to reach a value of USD 451.21 billion in 2030 expanding at a CAGR of 40.7% over the forecast period of 2022-2030.

What are the drivers shaping various markets?

Increase in smartphone penetration has boosted the market growth: - The market growth over the forecast period is the increasing smartphone penetration. The increasing adoption of smartphones and technological advancements have allowed its users to view virtual images immersed in real contexts.

Who are the key competitors of market Players?

Some of the major players operating within the market are Alphabet (Google Inc.), DAQRI, Facebook, HTC, Magic Leap, Inc, Microsoft Corporation, OSTERHOUT DESIGN GROUP, Samsung Electronics Co., Ltd, Sony, Wikitude.

What are the top performing segments, and countries / regions of each of the markets?

The Global AR & VR Headset Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of North America is a home to major players that includes, Google, Facebook, DAQRI, and others, which offer advanced solutions.

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