Augmented reality is a thriving technology where digital data merge with the 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. Augmented reality technology uses virtual reality to amend with the real world. Augmented reality and virtual reality can support a wide range of emerging application. Augmented reality technology has shown ubiquitous growth in mobile phones featuring a camera and a GPS (Global Positioning System), which allow users to experience the technology beyond their anticipation. By 2015, augmented reality technology will be widely used in the education field for advanced learning and for teaching technologies. Augmented reality and virtual reality technology will be used to contribute to projects with smart innovations in the future, due to its great fascination and potential.
The global dedicated devices augmented reality market is expected to reach $659.98 million by 2018, whereas the immersive virtual reality market is expected to reach $407.51 million by 2018. The mobile based augmented reality and non-immersive virtual reality market analysis is done separately to maintain the mutual exclusiveness of data sets. The major driving forces of augmented reality technology and virtual reality are the advancement and in computer technology and Internet connectivity. The increased demand for virtual reality and augmented reality applications in the healthcare industry is a direct cause for tremendous growth in AR & VR market. The other driving force for virtual reality and augmented reality technology is consumer demand in the m-commerce industry. The technology used in augmented reality applications, i.e. marker-less is expected to grow rapidly. A major driving factor in marker-less AR is the use of GPS and compass features, which are commonly found in smartphones. The technologies used in virtual reality applications, such as goggles, contact lenses, and further opportunities, are described in detail in the report.
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