Lucintel Forecasts Augmented Reality and Virtual Reality Market to Grow at a CAGR of 7%-9%

According to the recent study the augmented reality and virtual reality market is projected to grow at a CAGR of 7%-9% from 2019 to 2024. Growth in this market is primarily driven by increasing demand for AR devices in patient care management and medical training and education, growth in retail and e-commerce, and increasing interest of tech giants in the AR market.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in augmented reality and virtual reality market by type (LDPE (low density polyethylene), PP (polypropylene), HDPE (high density polyethylene), PET (polyethylene terephthalate), PS (polystyrene), and PVC (polyvinyl chloride)), application (food & beverage, consumer goods, healthcare, and industrial), and region (North America, Europe, Asia Pacific, and Rest of the World).
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“LDPE (Low Density Polyethylene) market is expected to remain the largest segment during the forecast period.”
Based on type, the Augmented reality and virtual reality market is segmented into LDPE (low density polyethylene), PP (polypropylene), HDPE (high density polyethylene), PET (polyethylene terephthalate), PS (polystyrene), and PVC (polyvinyl chloride). Lucintel forecasts that the LDPE (low density polyethylene) market is expected to remain the largest segment as it has flexibility, moisture barrier, toughness, chemical resistance, availability of LDPE resins at cheap rates, and it is used for a wide range of industries.
“Within the Augmented reality and virtual reality market, the food & beverages segment is expected to remain the largest application”
Based on application, the food & beverages segment is expected to witness the largest coating over the forecast period due to rising demand for increased shelf life of products, thus protecting food products for longer periods.
“Asia pacific will dominate the Augmented reality and virtual reality market in near future”
Asia Pacific is expected to be the largest region with the highest growth over the forecast period due to the growing demand from the FMCG (fast-moving consumer goods) and food & beverage industries in the region.
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Major players of Augmented reality and virtual reality market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. ExxonMobil, Sinopec, LyondellBasell Industries Holdings, SABIC, PetroChina, and DowDupont are among the major Augmented reality and virtual reality providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/packaging-resin-market.aspx or helpdesk@lucintel.com
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