Lucintel's latest market report analyzed that augmented and virtual reality provides attractive opportunities in the academic and corporate sectors. The augmented and virtual reality market is expected to reach $XX billion by 2028 with a CAGR of 16% to 18%. In this market, hardware is the largest segment by component, whereas academic is largest by end use industry. Increasing adoption of advanced technology products and devices, increased demand for personalised and experiential learning methods, and trending culture of online studies provides strategic growth path in this market.

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Based on component, the augmented and virtual reality market is segmented into solutions, hardware, and services. The hardware segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its involvement in devices which is used to project virtual reality content such as head-mounted displays, VR headsets, and projectors.

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The Augmented and Virtual Reality Market is marked by the presence of several big and small players. Some of the prominent players offering augmented and virtual reality include Sony, Samsung Electronics, HTC, Google, Microsoft, Panasonic, LG Electronics, Oracle, Cisco, and Dell.

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