U.S. Augmented Reality and Virtual Reality Market: Remarkable Surge in the Gaming Industry to Drive Demand
There has been rapid adoption of augmented reality and virtual reality in the U.S. in various industries such as construction, manufacturing, gaming, automotive, healthcare, education, extraction, aircraft, healthcare, real estate, law enforcement, and others. More and more consumers in the U.S. these days are incessantly engaged in new and advanced gaming consoles and video games. This factor further drives the demand for augmented reality and virtual reality in the U.S. in the coming years.
On the other hand, the lack of privacy and security issues associated with the application of augmented reality is expected to hinder its demand to an extent. However, remarkable advancements and an increase in the number of cartoon production houses in the U.S., a notable surge in the gaming industry, rapid adoption and testing of VR and AR technologies, and rising application of VR headsets in gaming centers, amusement and theme parks, and others applications are expected to create lucrative opportunities for the growth of the global U.S. augmented reality and virtual reality market in the upcoming years. According to the report published by Allied Market Research, the U.S augmented reality and virtual reality market is expected to reach $134.76 billion by 2030, registering a CAGR of 41.6% from 2021 to 2030.
Numerous players of the market across the globe are collaborating with prominent and eminent players to integrate and facilitate innovative technologies to offer an enhanced AR experience, and hence effectively cater to the needs and demands of the people. For instance, Niantic, Inc., a dominant San Francisco-based software development company that is engaged in creating breakthrough augmented reality technology, collaborated with Sony Corporation, a Japanese multinational conglomerate corporation, to work together to combine Sony’s audio technology with Niantic’s real-world AR technology.
The primary goal of this collaboration is to provide an unprecedented AR experience to the people. This remarkable initiative is kicked-off by rigorously working together on Niantic’s most admired game called ‘Ingress’. This is done to create an even more immersive AR and sound experience.
Thus, collaborations among prominent manufacturers and providers, persistent technological enhancements in AR and VR, and rising adoption of AR and VR in various end-use industries are expected to provide tremendous opportunities for the growth of the U.S. market.
PR & Marketing Professional at EquipNet, Inc.
Jessica Hamelburg is a content marketing coordinator and social media manager for a global industrial asset management company, EquipNet, Inc. Jessica holds a Bachelor’s Degree in Communications and Public Relations from Suffolk University and offers many years of experience in various forms of writing. Some of her favorite hobbies include exploring new music, creative writing and spending time with her dogs.
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