The augmented reality and virtual reality market in North America is expected to grow from US$ 11,623.09 million in 2021 to US$ 100,109.48 million by 2028; it is estimated to register a CAGR of 36.0% from 2021 to 2028.
A few investments were made in the AR and VR technologies. For instance, as per an article published by Tech Crunch, Niantic, a San Francisco-based developer of augmented reality platforms, closed a deal of US$ 300 million in November 2021 to build the real-world metaverse. Similarly, according to an article published by Crunchbase, Magic Leap, a Florida-based wearable tech maker, raised a total of US$ 500 million in October 2021. Such rising investments in AR and VR technologies are likely to create future growth opportunities for the augmented reality and virtual reality market players, which is further anticipated to drive the market in North America.
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North America Augmented Reality and Virtual Reality Strategic Insights
Strategic insights for the North America Augmented Reality and Virtual Reality provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
- EON Reality
- Google LLC
- Immersive Gaze
- Innovega Inc.
- Vuzix Corporation
- YeppAR
- Zugara, Inc.
North America Augmented Reality and Virtual Reality Regional Insights
The geographic scope of the North America Augmented Reality and Virtual Reality refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Market Segmentation
The North America augmented reality and virtual reality market is segmented into technology, component, end-user industry, and country. Based on 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 of the North America augmented reality and virtual reality market. Based on components, the market is segmented into sensors, semiconductor components, and others. In 2020, the semiconductor components segment held the largest share of the North America augmented reality and virtual reality market. Based on end-user industry, the market is segmented into entertainment, educational, industrial, medical, real estate & architecture, retail, aerospace & defense, and others.
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