The Business Research Company’s Augmented Reality/Virtual Reality Devices Global Market Report 2021: COVID 19 Growth And Change To 2030

The increasing competition between Apple and Facebook within the AR/VR realm is expected to drive the growth of the augmented and virtual reality devices markets in the near future.[i] The interest is understandable given the explosive growth forecast for the market in The Business Research Company’s recent report.

As per data on the Global Market Model, the global augmented reality devices market size is expected to grow from $2.39 billion in 2020 to $14.24 billion in 2025 at a compound annual growth rate (CAGR) of 40%, and the global virtual reality devices market size is expected to grow from $3.25 billion in 2020 to $22.27 billion in 2025 at a CAGR of 46%. This will be mainly due to increasing adoption of AR and VR devices and technologies in various sectors, as well as innovation and potential of companies such as Apple and Facebook. While each company is taking different approaches towards development of their AR/VR devices, both provide opportunities to finally push the technology over the cusp and into mainstream adoption.

Currently, the sense of touch in AR/VR systems continues to be a major complication for AR/VR companies because neither the use hand gesture tracking nor a physical controller has been intuitive or comfortable so far. In this regard, Apple has been working on the “Thermal Touch” technology offered by Metaio – an AR company acquired by Apple in 2015. The technology operates on the principle of heating up of objects (even in tiny amounts) when touched physically. Thermal Touch can be used to make any physical surface a touchscreen by reading the changes in the thermal profile of the environment via infrared and standard cameras. The implementation of Thermal Touch could be immense for AR users allowing them to work solely on natural touch without any hardware on or in hand. Apple has patented this technology and with the recent announcement of funding in May 2021, it is likely to be a part of Apple’s AR/VR arsenal and expected to feature on their upcoming headsets.

Facebook takes a different approach than Apple regarding the future of touch and control in AR/VR. In March 2021, the company announced its plans to use specialized straps that users can wear on their wrist to control and manipulate their virtual environment. The strap uses electromyography (EMG), that allows sensors to translate electrical signals from motor nerves into digital commands which can be interpreted by the system and perform an action. For instance, the solution can interpret finger movements down to a millimeter and accordingly perform an action. In order to make touch control more intuitive and natural, Facebook also plans to implement haptics into this system, which will send vibrations and feedback to the user, allowing them to feel interaction with virtual objects as physical objects.

The global augmented reality devices report by TBRC is segmented by type into head-mounted display (HMD), and head-up display (HUD), by application into consumer, commercial, enterprise, healthcare, aerospace & defense, energy, and automotive, and by component into hardware, and software. The global virtual reality devices report by TBRC is segmented by type into hand held devices, head mounted devices, gesture controlled devices, and others, by application into medical & healthcare, commercial, education, advertising & marketing, commerce, energy & utilities, entertainment & gaming, designing & engineering, logistics, and others, and by technology into semi & fully immersive, and non-immersive.

About The Author

Manish has six years of market research and consulting experience. Prior to joining TBRC, he worked with data analytics and consulting firm GlobalData. At TBRC, he heads the consulting team for the Manufacturing and Services sectors and is involved in managing various qualitative and quantitative market research projects, providing recommendations to help clients achieve their growth objectives. He has worked for clients such as Sony, Hitachi, Fujitsu, Toshiba, Sumitomo, Asahi Kasei, Kobe Steel, Total, BASF, and Stifel. Some key projects he was involved in include Compressors, Water Pumps, Industrial Air Dryers, BLDC Motors, Medical Printers, Thermoplastic Sheets, Mobile Guarding, Mobile Water Treatment, Digital Maps, Construction Software and Corporate Broadband.

About The Global Market Model

The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.

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Virtual Reality Software Global Market Report 2021: COVID-19 Growth And Change to 2030

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