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The Augmented Reality and Virtual Reality Market is projected to grow by USD 442.99 Billion (2024-2028), driven by demand for AR and VR tech and AI-powered market evolution – Technavio

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NEW YORK, Oct. 8, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Augmented Reality and Virtual Reality Market  size is estimated to grow by USD 442.99 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  50.22%  during the forecast period. Growing demand for AR and VR technology is driving market growth, with a trend towards growing funding in startup AR and VR companies from investors. However, high development costs associated with AR and VR apps  poses a challenge – Key market players include Alphabet Inc., Apple Inc., Augmented Pixels Inc., Blippar Ltd., CyberGlove Systems Inc., Eon Reality Inc., HP Inc., HTC Corp., Innovega Inc., Lenovo Group Ltd., Magic Leap Inc., Maxst Co. Ltd., Microsoft Corp., PTC Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., Toshiba Corp., Vuzix Corp., Wikitude GmbH, and Zugara Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2017 – 2021

Segment Covered

Technology (AR and VR), Application (Consumer and Enterprise), and Geography (North America, APAC, Europe, Middle East and Africa, and South America)

Region Covered

North America, APAC, Europe, Middle East and Africa, and South America

Key companies profiled

Alphabet Inc., Apple Inc., Augmented Pixels Inc., Blippar Ltd., CyberGlove Systems Inc., Eon Reality Inc., HP Inc., HTC Corp., Innovega Inc., Lenovo Group Ltd., Magic Leap Inc., Maxst Co. Ltd., Microsoft Corp., PTC Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., Toshiba Corp., Vuzix Corp., Wikitude GmbH, and Zugara Inc.

Key Market Trends Fueling Growth

The global Augmented Reality (AR) and Virtual Reality (VR) market is witnessing significant growth due to increasing collaborations and partnerships among vendors. These strategic alliances enable companies to enhance their product offerings and explore new application areas. In March 2020, Valve, Microsoft Corp., and HP Inc. Collaborated to build a next-generation SteamVR headset, HP Reverb G2, focusing on innovative product development. Similarly, in February 2020, NexTech AR Solutions partnered with Poplar, a UK-based AR collaborative platform provider, to utilize each other’s advanced technologies for AR campaign creation and product integration. I2 Industrial Innovation Srl, an industrial AR technology pioneer in Europe, partnered with Upskill in July 2018, delivering its suite of AR products on Upskill’s Skylight AR software platform to support European enterprises’ Industry 4.0 initiatives. These collaborations and partnerships are expected to drive the growth of the global AR and VR market by enabling companies to stay competitive with innovative products and applications. 

The Augmented Reality (AR) and Virtual Reality (VR) market is experiencing rapid growth, with trends such as security compliance and self-monitoring devices driving innovation. Semiconductor components and SoC integration are crucial for delivering high-quality AR and VR experiences. In the consumer space, shopping, simulations, and smartphones are key areas of focus. Technical expertise in AR and VR technology, including 3D environments and models, is in high demand. Virtual Reality is revolutionizing industries like tourism and travel & tourism, offering experiences. VR technology is also making strides in aerospace & defense, architecture, and virtual reality gaming. AR applications are gaining traction in commercial industries, particularly in consumer electronics and AI. 5G networks are set to revolutionize AR and VR experiences, enabling real-time data transfer and low latency. Smart glasses are becoming increasingly popular for AR applications, while cloud-based AR applications offer greater accessibility. Virtual Reality exposure therapy is a promising area for mental health applications. In conclusion, the AR and VR market is buzzing with innovation, driven by trends in security, self-monitoring, semiconductors, consumer engagement, and more. Technical expertise and advanced components are essential for delivering high-quality experiences. The future looks bright for AR and VR, with applications in various industries and use cases. 

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Market Challenges

•         The development of Augmented Reality (AR) and Virtual Reality (VR) projects involves various components, each with its associated costs. VR content creation entails expenses for 360-degree cameras, computer graphics, and high-end photorealistic cameras. The cost of creating panoramic videos is generally lower than computer-generated graphics. The value of VR games relies on interactive content. Developing VR software for various platforms, including web, mobile, and individual systems, also adds to the project cost. The development cost of VR applications varies based on the type of app and the company size. For instance, a non-gaming mobile VR application may cost between USD35,000 and USD75,000, while a mobile VR game may range between USD45,000 and USD100,000. Software development costs also impact the overall project cost. Moreover, the high cost of AR and VR gadgets, such as smart glasses and headsets, acts as a significant barrier to market growth. For instance, the cost of an AR headset ranges from USD500 to USD4,000, while an AR smart glass costs between USD500 and USD1,000. Microsoft Corp.’s HoloLens 2, launched in November 2019, costs around USD3,500. These high development and hardware costs challenge the growth of the global AR and VR market.

•         Augmented Reality (AR) and Virtual Reality (VR) markets are experiencing significant growth due to increasing demand from commercial industries. AR technology enables 3D models to overlay real-world environments, revolutionizing industries like architecture, engineering, and manufacturing. Challenges include developing 3D environments for AR applications, integrating AI for enhanced user experience, and the need for 5G networks for seamless connectivity. HMDs (Head-mounted displays) and gesture-tracking devices are key hardware components. AR has applications in consumer electronics, e-commerce, entertainment, and healthcare. Investment activity is high in IT & telecommunication, media & entertainment, and aerospace & defense sectors. AR technology is transforming industrial automation, consumer goods, and real-estate firms through cloud-based applications, heads-up displays, and infotainment industry integration. Network infrastructure and position trackers are crucial for AR’s success.

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Segment Overview 

This augmented reality and virtual reality market report extensively covers market segmentation by

Technology 1.1 AR1.2 VRApplication 2.1 Consumer2.2 EnterpriseGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 AR-  The Augmented Reality (AR) and Virtual Reality (VR) market is experiencing significant growth. Companies are integrating AR and VR technologies into their business strategies to enhance customer experiences and streamline operations. AR allows digital information to be overlaid onto the real world, while VR creates entirely new environments. These technologies are being used in industries such as retail, healthcare, and manufacturing to improve training, product visualization, and remote collaboration. The market is expected to continue growing as more businesses recognize the benefits of these innovative technologies.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2017 – 2021) 

Research Analysis

Augmented Reality (AR) and Virtual Reality (VR) are revolutionary technologies that have been gaining significant traction in various industries. AR overlays digital 3D models onto the real world, enhancing user experience in areas like gaming, simulations, infotainment, shopping, and self-monitoring devices. AR can be accessed through smartphones, smart glasses, and heads-up displays. Virtual Reality, on the other hand, immerses users in a completely digital 3D environment. Head-mounted displays (HMDs) are the most common device for accessing VR. The technology is popular in gaming, simulations, VR exposure therapy, and industrial automation industries. VR technology and AR technology have been seeing increased investment activity due to their potential to transform industries and provide new experiences. Engineers and professionals in manufacturing industries are using these technologies for SoC integration and information search. VR technology is also being used for training and education purposes. The infotainment industry is leveraging AR and VR for creating experiences for consumers. VR gaming and AR gaming are becoming increasingly popular, offering unique experiences that cannot be replicated in the real world.

Market Research Overview

Augmented Reality (AR) and Virtual Reality (VR) are revolutionary technologies that transform the way we interact with our environment. AR overlays digital 3D models onto the real world, enhancing consumer engagement in various industries. 5G networks enable seamless AR experiences, from consumer electronics to commercial industries like aerospace & defense, architecture, and engineering. AR applications extend to e-commerce, gaming, and education, while VR offers experiences in entertainment, healthcare, and training simulations. HMDs (Head-mounted displays) and gesture-tracking devices bring AR and VR to life, with hardware advancements including SoC integration and semiconductor components. The IT & telecommunication sector invests heavily in AR/VR technology, while the manufacturing industries leverage AR for industrial automation and self-monitoring devices. Network infrastructure, position trackers, and cloud-based AR applications further expand the possibilities, with real-estate firms and tourism businesses exploring new opportunities. AR and VR technology also address specific needs, such as mental illnesses, security compliance, and technical expertise. Overall, AR and VR are transforming industries and offering innovative solutions for consumer goods, infotainment, and more.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyARVRApplicationConsumerEnterpriseGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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KSAT and Morehead State University Partner to Expand Lunar Communications Infrastructure

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Partnership strengthens the KSAT Lunar Network and supports deep space and lunar exploration

DENVER and MOREHEAD, Ky., Oct. 31, 2026 /PRNewswire/ — Kongsberg Satellite Services (KSAT), a leading provider of ground station networks and satellite operations, today announced a strategic partnership with Morehead State University (MSU) to enhance the KSAT Lunar Network, supporting the growing demand for communications and tracking services for deep space and lunar missions.

The partnership leverages MSU Space Science Center’s established deep space communications capabilities, including its 21-meter and 12-meter-class antennas in Morehead, Kentucky, to further increase the KSAT Lunar Network. Together, the partnership enables mission operators to maintain reliable links with spacecraft operating beyond Earth orbit by adding network capacity and resiliency over the Eastern United States.

“Partnering with MSU advances KSAT’s ability to deliver the communications infrastructure required for the accelerated demand for deep space and lunar missions. We are especially thrilled about this partnership as it helps enable science and exploration space missions today, while developing the next-generation workforce to support the long-term development of the U.S. cislunar economy,” said Dan Adams, General Manager of KSAT Inc.

“This partnership reflects our commitment to supporting the future of space exploration through innovation, education, and collaboration,” said Dr. Benjamin K. Malphrus, Executive Director of Space Science Center. “Working with KSAT provides exciting opportunities for our students and researchers while enabling us to contribute directly to the thriving commercial sector.”

KSAT and MSU share a strong commitment and heritage of supporting NASA’s Artemis program, most recently the Artemis II mission, and the broader science and exploration, as well as inspiring the next generation. In addition to expanding KSAT Lunar capabilities, the partnership will create even more opportunities for student involvement and workforce development through KSAT’s internship programs, helping prepare the next generation of engineers and space professionals for careers in the rapidly growing space sector.

About KSAT:

Kongsberg Satellite Services (KSAT) is the leading commercial provider of Ground Station Services, Earth Observation Services, and Satellite Operations Services. Headquartered in Tromsø, Norway, the company operates the largest commercial satellite ground station network worldwide, including facilities in Svalbard and Antarctica to provide unique southern hemisphere coverage. Through KSAT Inc., KSAT’s U.S. based full-capability subsidiary, KSAT delivers mission-critical infrastructure for customers in government, civil, and commercial space in the United States, as well as the global space industry. 

About MSU:
Morehead State University (MSU) is a comprehensive, regional university located in Appalachian Kentucky in the Daniel Boone National Forest. MSU is known for excellence in STEM fields and pre-professional programs. The Space Science Center is MSU’s Program of Distinction and manages a significant research and development portfolio in small satellite systems, having executed 7 smallsat missions to date. The Center operates a 21-meter ground station and a 12-meter tracking antenna that provides lunar tracking services and smaller aperture ground stations for satellite telecommunications support. The Center also supports innovative undergraduate, graduate and a Doctor of Engineering program in Space Systems Engineering.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/ksat-and-morehead-state-university-partner-to-expand-lunar-communications-infrastructure-302925397.html

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Millennium Dental Technologies and Institute for Advanced Laser Dentistry Mourn Passing of Professor Raymond A. Yukna, DMD, MS (1942-2026)

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CERRITOS, Calif., Oct. 30, 2026 /PRNewswire/ — It is with profound sadness that Millennium Dental Technologies and the Institute for Advanced Laser Dentistry (IALD) mourn the passing of Professor Raymond A. Yukna, DMD, MS, world-renowned clinician, educator, researcher, mentor and cherished friend.

Throughout a remarkable career spanning academia, research, clinical practice and education, Dr. Yukna earned the admiration of colleagues worldwide for his unwavering commitment to scientific inquiry, clinical excellence and the advancement of patient care.

A Diplomate of both the American Board of Periodontology and the American Board of Oral Medicine, Professor of Advanced Periodontal Therapies at the University of Colorado School of Dental Medicine, Professor Emeritus at Louisiana State University, internationally recognized lecturer, and respected researcher, Dr. Yukna devoted his life to advancing the field of periodontics. His contributions helped shape modern periodontal therapy and influenced generations of clinicians, educators, and researchers worldwide.

His reputation for integrity, scientific rigor and thoughtful leadership made him one of the most trusted and respected voices in the specialty.

A DEFINING CHAPTER IN THE HISTORY OF THE LANAP® PROTOCOL

Dr. Yukna brought credibility, intellectual curiosity and scientific discipline that would help shape the future of the LANAP® protocol, a minimally invasive laser treatment for the treatment of moderate to severe periodontal disease. He engaged in thoughtful dialogue with Millennium Dental Technologies Co-Founders Robert H. Gregg II, DDS, and Delwin K. McCarthy, DDS, regarding the emerging science behind laser-assisted periodontal regeneration.

His groundbreaking research provided some of the earliest and most influential human histological evidence supporting the LANAP® protocol. Beginning with his International Association for Dental Research (IADR) abstract in 2003, followed by the submission of his landmark study to the International Journal of Periodontics and Restorative Dentistry (IJPRD) in 2006 and its publication in 2007, Dr. Yukna produced research that became a defining milestone in the scientific validation of the LANAP® protocol. His work demonstrated cementum-mediated new connective tissue attachment in humans and provided the periodontal community with compelling evidence supporting the protocol’s regenerative potential.

At a time when laser periodontal therapy was met with understandable skepticism by many within the specialty, Dr. Yukna’s willingness to objectively evaluate the science—and ultimately contribute his own landmark research—gave the LANAP® protocol a level of scientific credibility that helped change its trajectory. Many periodontists first embraced the LANAP® protocol because they trusted Dr. Yukna’s scientific integrity and respected his commitment to evidence-based dentistry.

His landmark study opened the door to broader acceptance of the LANAP® protocol within periodontics and laid the foundation for additional human histological studies, expanded university research efforts, and more than two decades of continued scientific investigation. The growing body of evidence supporting the LANAP® protocol today owes much to the foundation Dr. Yukna helped establish.

A TEACHER WHO SHAPED A GENERATION

Dr. Yukna’s influence extended far beyond the published literature. As an IALD Certified Instructor, he became one of the most influential educators in the history of the LANAP® protocol. He served as hands-on clinical instructor for approximately 350 LANAP-trained clinicians and lectured at roughly 130 Laser BootCamps™, helping educate well over 1,000 clinicians throughout his years with the IALD and Millennium Dental Technologies.

From the Denver BootCamps™ held during his tenure at the University of Colorado School of Dental Medicine to sessions conducted throughout New York and, later, at the facility in Cerritos, Dr. Yukna’s lectures, mentorship and quiet confidence inspired countless clinicians. His generosity in sharing his knowledge, his thoughtful guidance and his commitment to excellence helped shape the careers of an entire generation of LANAP clinicians.

A CHERISHED FRIEND

Beyond his extraordinary professional accomplishments was an even more extraordinary person. For Robert H. Gregg II, DDS and Dawn Gregg, DDS, Dr. Yukna and his wife, Charlotte, were not simply respected colleagues, they were dear friends. Over many years, they shared milestones, celebrated successes, supported one another through challenges and built a friendship that extended far beyond dentistry. In fact, when Dr. Robert Gregg and Dr. Dawn Gregg began their lives together as a couple, Dr. Yukna and Charlotte were among the very first people they chose to tell in person—reflecting the trust, respect and affection they shared.

Those privileged to know Dr. Yukna personally will remember far more than his curriculum vitae. They will remember his humility, kindness, generosity, wisdom, quiet confidence and unwavering integrity. He challenged those around him to pursue excellence, to follow the science wherever it led, and to never lose sight of the patients whose lives could be changed through innovation grounded in evidence.

HIS LEGACY LIVES ON

The LANAP® community, the periodontal profession, the IALD and the entire Millennium Dental Technologies family are better because of Dr. Yukna’s contributions.

His legacy lives on through the science he advanced, the clinicians he trained, the patients whose lives were improved by his work, and the countless colleagues and friends he inspired throughout his remarkable career.

Millennium Dental Technologies and the IALD extends deepest condolences to Charlotte and Dr. Yukna’s family, friends, colleagues, students and all those whose lives he touched.

Thank you, Dr. Yukna, for your leadership, your scholarship, your mentorship, your friendship, and your unwavering belief that scientific excellence could improve the lives of patients around the world.

ABOUT MILLENNIUM DENTAL TECHNOLOGIES, INC.

Headquartered in Cerritos, Calif., Millennium Dental Technologies is the developer of the LANAP protocol for treating periodontal disease and the manufacturer of the PerioLase MVP-7 variable-pulsed Nd:YAG dental laser. The company’s FDA-cleared LANAP protocol offers a more comfortable, less invasive alternative to conventional periodontal surgery while providing unique bone-building clinical results. Founding clinician Robert H. Gregg II, DDS, continues to lead the company with a vision to create better clinical outcomes for patients with periodontal disease while remaining true to its guiding principle: “It’s all about the patient.” For more information, visit www.lanap.com.

ABOUT THE INSTITUTE FOR ADVANCED LASER DENTISTRY

The Institute for Advanced Laser Dentistry is a nonprofit educational and research organization dedicated to advancing evidence-based clinical training in laser dentistry. Established in 1999, the IALD is nationally recognized for its continuing education programs as an ADA Continuing Education Recognition Program and Academy of General Dentistry Program Approval for Continuing Education provider. For more information, visit www.theiald.com.

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SOURCE Millennium Dental Technologies, Inc.

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Okta Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600

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NEW YORK, Oct. 30, 2026 /PRNewswire/ — S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400, S&P SmallCap 600 effective prior to the opening of trading on Wednesday, November 4:

S&P MidCap 400 constituent Okta Inc. (NASD: OKTA) will replace Kenvue Inc. (NYSE: KVUE) in the S&P 500, S&P SmallCap 600 constituent Glaukos Corp. (NYSE: GKOS) will replace Okta in the S&P MidCap 400, and McGrath RentCorp (NASD: MGRC) will replace Glaukos in the S&P SmallCap 600. S&P 500 constituent Kimberly-Clark (NASD: KMB) is acquiring Kenvue in a deal expected to be completed soon, pending final closing conditions.Loar Holdings Inc. (NYSE: LOAR) will replace LiveRamp Holdings Inc. (NYSE: RAMP) in the S&P SmallCap 600. Publicis Groupe SA (Euronext Paris: PUB) is acquiring LiveRamp Holdings in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date

Index Name 

Action

Company Name

Ticker

GICS Sector

Nov 4, 2026

S&P 500

Addition

Okta

OKTA

Information Technology

Nov 4, 2026

S&P 500

Deletion

Kenvue

KVUE

Consumer Staples

Nov 4, 2026

S&P MidCap 400

Addition

Glaukos

GKOS

Health Care

Nov 4, 2026

S&P MidCap 400

Deletion

Okta

OKTA

Information Technology

Nov 4, 2026

S&P SmallCap 600

Addition

McGrath RentCorp

MGRC

Industrials

Nov 4, 2026

S&P SmallCap 600

Deletion

Glaukos

GKOS

Health Care

Nov 4, 2026

S&P SmallCap 600

Addition

Loar Holdings

LOAR

Industrials

Nov 4, 2026

S&P SmallCap 600

Deletion

LiveRamp Holdings

RAMP

Information Technology

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/. 

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

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SOURCE S&P Dow Jones Indices

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