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Soaring smartphone penetration, and advancement in internet connectivity and computing are the major factors driving the growth of the market. On Global Market Reality basis of component, the Global Market Reality reality and virtual reality market is categorized into hardware and software. The hardware component was the largest contributor to the market, accounting for more than 65% of revenue share in 2017. It is also predicted to be the largest revenue contributor to the augmented reality and virtual reality market during the forecast period. Furthermore, augmented reality and Global Market Reality reality is gaining traction for commercial applications. Augmented Reality and Virtual Reality Market Dynamics Trends Some of the key trends observed in augmented reality and virtual reality market include launch of augmented reality and virtual reality-based devices, mobile apps, and gaming consoles by tech giants such as Google and Sony Corporation. Furthermore, companies operating in this market are focusing largely on the aesthetics of these devices in order to make them stylish and fashionable, which is expected to increase its adoption by consumers. The versatility and uncomplicated use of these devices is one of the significant factors responsible for their large-scale popularity and use. Drivers Surge in smartphone and gaming console penetration globally has driven the augmented reality and virtual reality market. Hence, the increasing penetration of smartphones and tablet computers are leading to the growth of the augmented reality and virtual reality market. Other negative health issues reported by the consumers are nausea, motion sickness, and severe eyestrain as these headsets are attached to the eyes for a prolonged period. These health concerns if not addressed properly, can act as an inhibitor and affect the adoption rate of virtual reality or augmented reality technologies. Thus, health concerns are restraining the growth of the global augmented reality and virtual reality market. Simulation-based learning allows interactive experiential learning under real environment. It offers connected enterprise solutions for completing a task where different team members can be networked in a shared virtual world, regardless of the physical distance in real world. Some of the key players in the augmented reality and virtual reality market are Samsung Electronics Corporation Limited, Qualcomm Technologies Inc.

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