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[April 29, 2014]
Markets and Markets : Augmented Reality and Virtual Reality Market worth $1.06 Billion by 2018
(M2 PressWIRE Via Acquire Media NewsEdge) According to a new market research report of "Augmented Reality & Virtual Reality Market by Sensors (Accelerometer, Gyroscope, Haptics), Components (Camera, Controller, Gloves, HMD), Applications (Automotive, Education, Medical, Gaming, Military), Technology Types & by Geography - Global Forecast and Analysis to 2013 - 2018", is expected to grow at a CAGR of 15.18% from 2013 to 2018 and reach 1.06 Billion in 2018. The data mentioned is for dedicated augmented reality and immersive virtual reality systems only. Separate analysis for mobile based AR and non immersive VR is done.
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Augmented reality is a thriving technology where digital data merge with real world. This technology superimposes the real world with computer generated data which completely changes the user experience. It changes what we hear, feel and see. The augmented reality technology uses virtual reality to amend with the real world.
Augmented reality and virtual reality have can offer many wide range of emerging application.
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The augmented reality (AR) and virtual reality (VR) is experiencing heavy penetration in the training and infotainment market. The major reason behind heavy penetration is the wide spectrum of application areas for these technologies. Early in 1960's virtual reality based machines started to be patented and were considered as the beginning of VR. It is the three dimensional interactive world produced by a computer. The term "augmented reality" was introduced as a variation of VR; it is a form of technology used to enhance real time object by imposing virtual image over it. AR application was first used for the development of virtual advertisement on television then it expanded its applications in gaming and entertainment.
Augmented reality is one of the major and most innovative technologies of the decade. It provides information and entertainment which overlays on the physical world.
The potential of augmented reality technology is wide and endless but still it's under development stage and most of the potential are unexploited. This technology proved to be very comfortable and user friendly. For the last decade, augmented reality has been focussed on gaming which will send the users quickly to another immersive world. The augmented reality is believed to be a promising technology which will augment the user gaming skills by new ways to control actions and 3D movements.
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The overall augmented reality and virtual reality market is segmented into four major segments namely: AR & VR components and sensors, AR & VR technology, AR & VR application, and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately described in the report.
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