The competition of the virtual and augmented reality market intensifies

The augmented and virtual reality market is starting to take off, driven by a new generation of devices and services. Besides, new use cases and new technologies are emerging that converge with the extended reality. This is causing new manufacturers and suppliers to emerge, generating more competition in an increasingly diversified market.

With the new possibilities of Virtual Reality Global Market To Sustain Growth in professional and consumer environments, a promising future for these technologies is being proposed, and the number of companies dedicated to AR / VR devices and services is increasing. According to the count made by ABI Research as part of its latest study on the sector, it is expected that some 80 more companies will emerge in the short term, which will further fuel the competition.

At the same time, the best-positioned companies are reaching new collaboration agreements with hardware and software providers, which is allowing them to expand their product portfolio with new solutions. This allows them to cover the needs of new verticals that begin to demand technologies of extended reality, of the companies that are expanding their deployment of AR / VR to other areas and also of the consumer market, for which an important growth in the next years.

The ABI Research study covers a total of 750 companies that operate or support these technologies and shows that the digitalization trends of companies are driving an incipient growth of this market, generating short-term opportunities for virtual reality solution providers and increased As noted by Eleftheria Kouri, an analyst at this research firm, “AR and VR companies enrich their product portfolio by supporting more verticals and covering both AR / VR solutions to meet customer expectations and help companies move efficiently in the digital age. ”

“The business-oriented use case is essential for A and VR… Augmented reality continues to grow in experience and distance training, while virtual reality is moving from a consumer entertainment approach to more virtual reality simulation and training opportunities in companies. Consumer companies and use cases are still promising, with e-commerce and retail applications that are still flourishing, but not yet at the pace that other business channels are reaching. ”

At the same time, providers of virtual and augmented reality platforms are evolving to support more devices and use cases, making their offer more flexibility for the future. And, as Kouri said, to maintain competitiveness, the ability to access new customers must be increased, in a market that is growing in terms of scale and competition. This will help open development kits that allow the global community of programmers to design applications based on AR and VR.

Addison

Addison is a student of the Aust Abbottabad University of Science and Technology. He started his graduation in 2016 and graduated in 2020. I’m a professional article and blog writer, has written dozens of content on different topics and worked with professionals all over the globe. Feel free to contact me for any assistance. [email protected]