United States Augmented & Virtual Reality Market to Grow at 30% CAGR Till 2018 Says TechSci Research
In the consumer electronics sector, the United States is the second largest consumer for smartphones and tablet PCs after China, which is spurring the demand for augmented reality smart glasses and apps
January 16, 2014 (Newswire.com) - Augmented and Virtual Reality is a technology, which acts as a bridge between the virtual environment and real environment. Head-mounted displays or helmet-mounted displays (HMD), head-up displays, smart glasses and AR (Augmented Reality) apps are the product segments of this market. In 2012, defense sector applications accounted for the largest market share, followed by transportation and consumer electronics applications. In the defense sector, the technology finds applications in police as well as military use, wherein, HUDs and HMDs are employed for targeting, navigation, training, simulation, etc.
According to the recently published report by TechSci Research "United States Augmented & Virtual Reality Market Forecast & Opportunities, 2018", United States Augmented & Virtual reality market is expected to witness a CAGR of around 30% during 2013-18. By region, the Western US region dominated the United States Augmented & Virtual Reality market in 2012. The Western region led the market on account of increasing spending in computer & electronics product manufacturing sectors. The major contributing states in this region include California, Texas, Oregon and Massachusetts. Colorado, Florida, Pennsylvania and Illinois are exhibiting comparatively slower growth.
HMDs can be classified into two categories that include AR for defense and transportation applications and VR (Virtual Reality) for consumer electronics (gaming, television viewing etc.). Over the last three years, gaming industry in the US has grown significantly, wherein, overall gaming console shipments are estimated to have crossed 10 million units mark in 2013. Moreover, the shipments are expected to grow at a CAGR of around 29% over the next five years.
"In United States HMDs and HUDs market, Delphi Automotive, Denso Corp., Johnson and Controls, BAE Systems and Rockwell Collins are currently the leading market players. Google, Vuzix, Ad-Dispatch and Layar are the major players in AR smart glasses and apps market, however, with the growing shipments of smartphones and tablet PCs, other players such as Sony, Microsoft and Oakley are expected to make significant contributions over the next five years" said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"United States Augmented & Virtual Reality Market Forecast & Opportunities, 2018" report has evaluated the future growth potential of augmented and virtual reality market in United States and provides statistics and information on market structure, market trends, market size, etc. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluations. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in augmented and virtual reality market in United States.
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