Rise in the adoption of augmented & virtual reality in healthcare, increase in popularity of AR & VR in the gaming industry, and hike in smartphone penetration are the factors driving the Florida augmented and virtual reality market growth. On the other hand, a lack of security standards and sub-standard user experience design create restraints for the market to grow.
As far as the opportunities are concerned, technological advancements in AR & VR and progressing adoption of AR VR by the aerospace & defence sector will open many doors to the fruitful future.
According to the report published by Allied Market Research, Florida augmented and virtual reality market generated $428.15 million in 2020 and is expected to reach $21.37 billion by 2030, manifesting a CAGR of 48.7% from 2021 to 2030.
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The report offers detailed segmentation of Florida augmented and virtual reality market-based organization size, application, and industry vertical.
Based on the application, the consumer segment accounted for the largest market share in 2020, contributing to more than half of the total share. On the other hand, the enterprise segment is estimated to witness the fastest CAGR of 51.7% from 2021 to 2030.
Based on the organization size, the large enterprises segment contributed to the largest share in 2020, accounting for nearly three-fourths of the Florida augmented and virtual reality market, and is expected to maintain the leading position throughout the forecast period.
However, the small & medium-sized enterprises segment is expected to lead the market with the manifestation of the highest CAGR of 54.1% from 2021 to 2030.
Based on industry vertical, the gaming segment contributed to the largest share in 2020 attributing to nearly two-fifths of the market. The same segment is anticipated to maintain the lead throughout the forecast period. On the other hand, healthcare segment is expected to manifest a CAGR of 54.5% from 2021-2030.
Leading players of Florida augmented and virtual reality market analyzed in the research include EON Reality, Apple Inc., Sony Corporation, FACEBOOK, Intel Corporation, Alphabet (Google Inc.), Marxent Labs, Microsoft Corporation, MAGIC LEAP, INC. and zSpace, Inc.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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