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Augmented & Virtual Reality Market to Grow by USD 442.99 Billion (2024-2028), Boosted by AR and VR Demand – Market Evolution Powered by AI – Technavio

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NEW YORK, Feb. 11, 2025 /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..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Augmented Reality And Virtual Reality Market Scope

Report Coverage

Details

Base year

2023

Historic period

2017 – 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 50.22%

Market growth 2024-2028

USD 442999.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

36.1

Regional analysis

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

Performing market contribution

APAC at 42%

Key countries

US, China, Germany, UK, and Japan

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.

Market Driver

Augmented Reality (AR) and Virtual Reality (VR) markets are experiencing significant growth due to the integration of 3D models in 3D environments. With the rollout of 5G networks, the speed and responsiveness of AR and VR technologies will increase, benefiting commercial industries such as aerospace & defense, architecture, and manufacturing. AR applications using cameras and gesture-tracking devices are revolutionizing consumer engagement in sectors like e-commerce, entertainment, and gaming. HMDs (Head-mounted displays) and heads-up displays are transforming industries like healthcare, industrial automation, and transportation. AR and VR technologies are also being used in IT & telecommunication, media & entertainment, and tourism businesses for innovative solutions. The investment activity in AR and VR is on the rise, driven by the integration of AI, semiconductor components, and SoC (System on Chip) technology. The future of AR and VR holds endless possibilities, from mental illness treatments to simulations and self-monitoring devices. 

The global Augmented Reality (AR) and Virtual Reality (VR) market is experiencing 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 for AR and VR software platforms. For instance, in March 2020, Valve, Microsoft Corp., and HP Inc. Announced a collaboration to develop a next-generation SteamVR headset, called HP Reverb G2. Such collaborative efforts are expected to fuel the growth of the AR and VR market during the forecast period. Vendors are leveraging these partnerships to expand their reach, improve product quality, and cater to the evolving needs of end-users. 

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Market Challenges

Augmented Reality (AR) and Virtual Reality (VR) markets are experiencing significant growth due to increasing demand from commercial industries. AR technology overlays digital 3D models onto real-world environments, enhancing consumer engagement in sectors like retail, architecture, and manufacturing. Challenges include developing 3D environments for AR applications, integrating AR technology with 5G networks, and creating technical expertise for hardware like HMDs (Head-mounted displays) and gesture-tracking devices. VR technology immerses users in entirely digital 3D environments, revolutionizing industries such as aerospace & defense, healthcare, and entertainment. Challenges include investing in network infrastructure for cloud-based VR applications, creating VR content for gaming and simulations, and ensuring security compliance. Consumer electronics, including smartphones and smart glasses, are driving mass adoption of AR and VR. Industries like e-commerce, real-estate, and tourism businesses are exploring AR applications for product visualization and customer engagement. Meanwhile, AR and VR are transforming industrial automation, IT & telecommunication, and the infotainment industry, improving efficiency and productivity. Semiconductor components and SoC integration are crucial for developing AR and VR hardware. AI and position trackers are essential for enhancing user experience and creating realistic simulations. VR exposure therapy is a promising application for mental illnesses, while VR technology is revolutionizing industrial tools and training. In conclusion, the AR and VR market presents numerous opportunities for innovation and growth, with challenges that require investment in hardware, software, and technical expertise. Industries from consumer electronics to aerospace & defense are embracing these technologies to enhance user experience, improve efficiency, and drive productivity.In the realm of Augmented Reality (AR) and Virtual Reality (VR) market, creating engaging projects involves various intricate components. Cost considerations are crucial, encompassing expenses for VR content creation and distribution, as well as hardware and software costs. For instance, 360-degree cameras are utilized to generate panoramic content at a relatively lower cost compared to computer-generated graphics. However, the real value of VR games lies in their interactive content. To create lifelike VR content, a combination of 360-degree cameras, computer graphics, and high-end photorealistic cameras is necessary. The approximate cost for developing only the VR content for an app falls between USD50,000 and USD100,000.

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Segment Overview

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

TechnologyARVRApplicationConsumerEnterpriseGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

1.1 AR- The Augmented Reality (AR) segment is experiencing significant growth due to increasing new product launches, expanding application areas, and rising investments in AR technology. AR is an innovative technology that overlays digital information onto the real world, offering an enhanced user experience. This technology can be accessed through apps or web platforms. AR’s versatile applications in various industries, including enterprise, retail, healthcare, media and entertainment, and education, are driving its demand. Key players, such as Alphabet and Microsoft, are investing in AR software development kits to create AR platforms. For instance, Microsoft’s Mesh service enables people to collaborate in AR environments. Technological advancements in AR hardware and software, including smartphones and AR development platforms, are making AR more accessible and user-friendly. The growing need for remote collaboration and training solutions, especially during the COVID-19 pandemic, is also accelerating AR adoption. Major vendors, including Microsoft, Google, and Apple, are providing AR technology for enterprise applications, such as remote assistance, training, and product visualization. The increasing adoption of AR across industries for remote collaboration, training, and customer engagement, technological advancements, and continued innovation in AR applications will fuel the growth of the AR segment in the Augmented Reality and Virtual Reality market.

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Research Analysis

Augmented Reality (AR) and Virtual Reality (VR) are revolutionary technologies that have been gaining significant traction in various industries. AR superimposes digital 3D models onto the real world, enhancing user experience in areas like gaming, simulations, and infotainment. Smartphones and smart glasses serve as popular devices for AR, while heads-up displays are used in vehicles. VR, on the other hand, immerses users in a completely virtual 3D environment. VR technology finds applications in gaming, simulations, and exposure therapy, among others. Investment activity in AR and VR is on the rise, driven by the potential of these technologies in sectors like manufacturing industries, industrial automation, and self-monitoring devices. Engineers and designers use AR and VR for creating and testing complex designs, while the infotainment industry leverages these technologies for providing experiences. VR technology is also transforming shopping, allowing customers to virtually try on clothes or explore homes before purchasing. SoC integration is making VR and AR more accessible and affordable for the masses.

Market Research Overview

Augmented Reality (AR) and Virtual Reality (VR) are revolutionary technologies that transform the way we interact with our surroundings and digital content. AR overlays 3D models and information onto real-world environments in real-time using cameras and AR technology. VR creates 3D environments, transporting users to new worlds. Both technologies are gaining traction in various industries, including aerospace & defense, architecture, engineering, and manufacturing industries, for design and simulation. 5G networks enable seamless AR and VR experiences. AR applications are being used in commercial industries, consumer electronics, e-commerce, and tourism businesses for consumer engagement, product visualization, and information search. VR is popular in gaming, entertainment, healthcare, and education for training, therapy, and experiences. HMDs (Head-mounted displays), gesture-tracking devices, and position trackers are essential hardware components. The IT & telecommunication industry is investing heavily in AR and VR technology, with semiconductor components playing a crucial role. Technical expertise is required for software development and integration with SoCs (Systems on Chips). AR and VR are also being used in industrial automation, security compliance, and mental illnesses treatment. The future of AR and VR is bright, with endless possibilities in entertainment, education, and everyday life.

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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Technology

Huawei Cloud Launches Agentic Infrastructure and CodeArts Agent OBT in Thailand, Accelerating Enterprise AI Innovation

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BANGKOK, July 24, 2026 /PRNewswire/ — Huawei Cloud hosted Huawei Cloud Summit Thailand 2026, bringing together leaders from government, business, industry partners, and the technology community to exchange views on how cloud and AI can support Thailand’s digital economy. During the event, Huawei Cloud announced “Huawei Cloud Agentic Infrastructure: Now Available for Thailand” and officially launched Huawei Cloud CodeArts Agent Open Beta Testing (OBT) in the country.

Mr. Sunny Shang, President of Huawei Cloud APAC, outlined the company’s commitment to working with customers and partners to build an AI-driven digital future for Thailand. Regarding the government’s direction, the Ministry of Digital Economy and Society emphasized the acceleration of digital transformation through national AI policies, public-sector adoption, and stronger public-private collaboration.

The public-sector highlighted how AI can improve government operations and make public services faster and more convenient. NECTEC also presented a Government AI case study covering the development of AI infrastructure and platforms, as well as AI chatbots and intelligent assistants designed to support government officials and improve services for citizens.

Building the Foundation for the Agentic AI Era

Mr. Surasak Wanichwatphibun, CTO of Huawei Cloud Thailand said Huawei Cloud will continue to strengthen its technological capabilities and build a robust computing infrastructure to drive AI innovation across enterprises.

At the center of the announcement is Agentic Infra, a new infrastructure designed specifically for developing and deploying AI agents. It supports efficient token generation, unified scheduling of general-purpose and AI computing resources, continuous learning, and secure and autonomous agent operations.

Mr. Surasak introduced four new features under Agentic Infra:

UnifiedBus-based AI Cluster Service (AICS), which supports highly efficient token generationAgentic Memory Storage Service (AMS), which delivers PB-scale memory storage to address a key bottleneck in agent memory, enabling long-horizon tasks and facilitating continuous learning.AgentSphere, which offers a secure and autonomous runtime environment for AI agentsCCE VolcanoNext, which enables unified scheduling of general-purpose and AI computing resources

CodeArts Agent OBT Launches in Thailand

Another major highlight was the launch of Huawei Cloud CodeArts Agent OBT in Thailand, giving local developers and enterprises an opportunity to experience Huawei Cloud’s coding agent and provide feedback before its wider release.

CodeArts Agent combines IDE functionality, autonomous development capabilities, and coding models. It supports project-level code generation, code completion, R&D knowledge Q&A, and unit test case generation.

The platform also applies Specification-Driven Development (SDD) to help development teams maintain code quality from the requirements stage through to final delivery.

It is worth mentioning that this release also introduces the Agent Team mode, which can automatically form a development team, enabling multiple agents to collaborate concurrently and execute tasks simultaneously.

By reducing repetitive tasks, CodeArts Agent can help developers work more efficiently and allow organizations to bring digital products and services to market faster.

The OBT launch forms part of Huawei Cloud’s efforts to support Thailand’s developer community and make AI-assisted software development more accessible to organizations of different sizes.

Strengthening Security for Enterprise AI

Mr. Surasak also emphasized security, stability, and quality as key priorities for enterprise AI adoption. As cyberattacks become increasingly automated and AI-driven, Huawei Cloud has upgraded its security services in two areas: protecting AI systems and using AI to strengthen cyber defense.

Its model lifecycle security solution covers AI infrastructure, training data, model inference, and agent applications.

For enterprises concerned about data sovereignty and privacy, Huawei Cloud provides dedicated security zones that allow customers to independently manage their encryption keys while preventing platform administrators from accessing customer data. Software-hardware integration and hardware acceleration are also used to maintain encryption performance without compromising service efficiency. Huawei Cloud has also introduced Data Capsule technology, which ensures that data can only be used within authorized environments and automatically becomes invalid if moved outside a designated security zone.

Showcasing AI Use Cases Across Industries

Huawei Cloud Summit Thailand 2026 also featured AI and cloud use cases from organizations in Thailand. These included the development of AI platforms and intelligent assistants for the public sector, the use of AI coding and large language models in banking, and AI-powered learning and skills development platforms for the HR sector.

Huawei Cloud and its partners also shared how ecosystem collaboration can help solve industry challenges and accelerate AI adoption among enterprises.

About Huawei Cloud Thailand

Huawei Cloud Thailand is a leading cloud service provider committed to accelerating Thailand’s digital transformation under the mission of “In Thailand, For Thailand.” According to the latest report from Gartner, Huawei Cloud is ranked No.3 by revenue in Thailand’s Infrastructure as a Service (IaaS) market, solidifying its position as one of the most trusted and fastest-growing international cloud providers in the country.

As the first international public cloud vendor to establish local data centers in Thailand, Huawei Cloud now operates three Availability Zones, ensuring high reliability and low-latency connectivity for local users. Leveraging Huawei’s 30-plus years of expertise in ICT infrastructure, it integrates cutting-edge Artificial Intelligence (AI), Cloud-Native 2.0, and Big Data technologies to empower over 40 government agencies and thousands of enterprises across the Kingdom. By building a robust digital ecosystem and fostering local talent, Huawei Cloud aims to drive Thailand’s “Digital Economy” forward, bringing cloud and intelligence to every corner of the country for a fully connected, intelligent future.

For more information, please visit Huawei Cloud Thailand online at

https://www.huaweicloud.com/intl/th-th/ or follow us on:

https://www.facebook.com/HuaweiCloudTH

https://www.youtube.com/@HuaweiCloudAPAC

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/huawei-cloud-launches-agentic-infrastructure-and-codearts-agent-obt-in-thailand-accelerating-enterprise-ai-innovation-302833957.html

SOURCE Huawei Cloud Thailand

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Huawei Cloud Launches Agentic Infrastructure and CodeArts Agent OBT in Thailand, Accelerating Enterprise AI Innovation

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on

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BANGKOK, July 24, 2026 /PRNewswire/ — Huawei Cloud hosted Huawei Cloud Summit Thailand 2026, bringing together leaders from government, business, industry partners, and the technology community to exchange views on how cloud and AI can support Thailand’s digital economy. During the event, Huawei Cloud announced “Huawei Cloud Agentic Infrastructure: Now Available for Thailand” and officially launched Huawei Cloud CodeArts Agent Open Beta Testing (OBT) in the country.

Mr. Sunny Shang, President of Huawei Cloud APAC, outlined the company’s commitment to working with customers and partners to build an AI-driven digital future for Thailand. Regarding the government’s direction, the Ministry of Digital Economy and Society emphasized the acceleration of digital transformation through national AI policies, public-sector adoption, and stronger public-private collaboration.

The public-sector highlighted how AI can improve government operations and make public services faster and more convenient. NECTEC also presented a Government AI case study covering the development of AI infrastructure and platforms, as well as AI chatbots and intelligent assistants designed to support government officials and improve services for citizens.

Building the Foundation for the Agentic AI Era

Mr. Surasak Wanichwatphibun, CTO of Huawei Cloud Thailand said Huawei Cloud will continue to strengthen its technological capabilities and build a robust computing infrastructure to drive AI innovation across enterprises.

At the center of the announcement is Agentic Infra, a new infrastructure designed specifically for developing and deploying AI agents. It supports efficient token generation, unified scheduling of general-purpose and AI computing resources, continuous learning, and secure and autonomous agent operations.

Mr. Surasak introduced four new features under Agentic Infra:

UnifiedBus-based AI Cluster Service (AICS), which supports highly efficient token generationAgentic Memory Storage Service (AMS), which delivers PB-scale memory storage to address a key bottleneck in agent memory, enabling long-horizon tasks and facilitating continuous learning.AgentSphere, which offers a secure and autonomous runtime environment for AI agentsCCE VolcanoNext, which enables unified scheduling of general-purpose and AI computing resources

CodeArts Agent OBT Launches in Thailand

Another major highlight was the launch of Huawei Cloud CodeArts Agent OBT in Thailand, giving local developers and enterprises an opportunity to experience Huawei Cloud’s coding agent and provide feedback before its wider release.

CodeArts Agent combines IDE functionality, autonomous development capabilities, and coding models. It supports project-level code generation, code completion, R&D knowledge Q&A, and unit test case generation.

The platform also applies Specification-Driven Development (SDD) to help development teams maintain code quality from the requirements stage through to final delivery.

It is worth mentioning that this release also introduces the Agent Team mode, which can automatically form a development team, enabling multiple agents to collaborate concurrently and execute tasks simultaneously.

By reducing repetitive tasks, CodeArts Agent can help developers work more efficiently and allow organizations to bring digital products and services to market faster.

The OBT launch forms part of Huawei Cloud’s efforts to support Thailand’s developer community and make AI-assisted software development more accessible to organizations of different sizes.

Strengthening Security for Enterprise AI

Mr. Surasak also emphasized security, stability, and quality as key priorities for enterprise AI adoption. As cyberattacks become increasingly automated and AI-driven, Huawei Cloud has upgraded its security services in two areas: protecting AI systems and using AI to strengthen cyber defense.

Its model lifecycle security solution covers AI infrastructure, training data, model inference, and agent applications.

For enterprises concerned about data sovereignty and privacy, Huawei Cloud provides dedicated security zones that allow customers to independently manage their encryption keys while preventing platform administrators from accessing customer data. Software-hardware integration and hardware acceleration are also used to maintain encryption performance without compromising service efficiency. Huawei Cloud has also introduced Data Capsule technology, which ensures that data can only be used within authorized environments and automatically becomes invalid if moved outside a designated security zone.

Showcasing AI Use Cases Across Industries

Huawei Cloud Summit Thailand 2026 also featured AI and cloud use cases from organizations in Thailand. These included the development of AI platforms and intelligent assistants for the public sector, the use of AI coding and large language models in banking, and AI-powered learning and skills development platforms for the HR sector.

Huawei Cloud and its partners also shared how ecosystem collaboration can help solve industry challenges and accelerate AI adoption among enterprises.

About Huawei Cloud Thailand

Huawei Cloud Thailand is a leading cloud service provider committed to accelerating Thailand’s digital transformation under the mission of “In Thailand, For Thailand.” According to the latest report from Gartner, Huawei Cloud is ranked No.3 by revenue in Thailand’s Infrastructure as a Service (IaaS) market, solidifying its position as one of the most trusted and fastest-growing international cloud providers in the country.

As the first international public cloud vendor to establish local data centers in Thailand, Huawei Cloud now operates three Availability Zones, ensuring high reliability and low-latency connectivity for local users. Leveraging Huawei’s 30-plus years of expertise in ICT infrastructure, it integrates cutting-edge Artificial Intelligence (AI), Cloud-Native 2.0, and Big Data technologies to empower over 40 government agencies and thousands of enterprises across the Kingdom. By building a robust digital ecosystem and fostering local talent, Huawei Cloud aims to drive Thailand’s “Digital Economy” forward, bringing cloud and intelligence to every corner of the country for a fully connected, intelligent future.

For more information, please visit Huawei Cloud Thailand online at

https://www.huaweicloud.com/intl/th-th/ or follow us on:

https://www.facebook.com/HuaweiCloudTH

https://www.youtube.com/@HuaweiCloudAPAC

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/huawei-cloud-launches-agentic-infrastructure-and-codearts-agent-obt-in-thailand-accelerating-enterprise-ai-innovation-302833957.html

SOURCE Huawei Cloud Thailand

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Loomis Interim Report January – June 2026

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STOCKHOLM, July 24, 2026 /PRNewswire/ —

Continued strong growth and record operating margin (EBITA %)

President and CEO Aritz Larrea comments:

“We delivered another very strong quarter reflecting the continued execution of our strategy and the strength of our diversified model. Revenue reached SEK 7.9 billion with a currency-adjusted growth of 9.1 percent. Both segment USA and segment Europe and Latin America contributed to the performance driven by continued strength in our International and Automated Solutions business lines. Operating income (EBITA) exceeded 1 billion SEK and we increased our EBITA margin by more than 1 percentage point year–over–year to 14.0 percent.

Our financial position remains strong. Supported by robust cash flow generation and a solid balance sheet, we continue to invest in long-term growth opportunities, pursue value-creating acquisitions, and maintain our commitment to delivering attractive returns to shareholders.”

Quarter 2, April – June 2026

Revenue for the quarter was SEK 7,891 million (7,407). The currency-adjusted growth was 9.1 percent (4.8), of which organic growth was 6.7 percent (3.8) and acquisitions contributed 2.5 percent (1.0). Including the exchange rate effect, the total growth was 6.5 percent (-3.0).Operating income (EBITA) 1) for the quarter was SEK 1,102 million (944) and the operating margin (EBITA) increased to 14.0 percent (12.7).Operating income (EBIT) before items affecting comparability for the quarter was SEK 1,062 million (882) and operating margin (EBIT) before items affecting comparability was 13.5 percent (11.9).Income before taxes for the quarter was SEK 869 million (664) and profit for the period was SEK 608 million (478).Basic earnings per share for the quarter were SEK 9.09 (7.01) and diluted earnings per share were SEK 9.06 (6.99).Cash flow from operating activities 2) was SEK 683 million (550) in the quarter. The cash flow from operating activities for the rolling twelve months was 95 percent (105) of operating income (EBITA).Net debt in relation to EBITDA was 1.60 times (1.75) in the quarter.Loomis expanded its presence in Latin America through the acquisition of Transportadora del Interior in Argentina and the announced acquisition of Hermes Transportes Blindados in Peru.

1)  Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and items affecting comparability.
2)  Cash flow from operating activities is exclusive of impact from IFRS 16.

Report presentation today at 10.30 a.m. (CEST)

The report will be presented in a webcast conference today at 10.30 am (CEST) by President and CEO Aritz Larrea and CFO Johan Wilsby.

To follow the webcast, please follow this link.

The presentation materials and a recorded version of the conference will be available on https://www.loomis.com/en/investors/reports-and-presentations/ following the presentation.

For more information, please contact:

Jenny Boström
Head of Sustainability and IR
ir@loomis.com
+46 79 006 45 92

Fredrik Hammarbäck
Media and External Communications Manager
media@loomis.com
+46 76 311 56 29

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/loomis-ab/r/loomis-interim-report-january—june-2026,c4377246

The following files are available for download:

https://mb.cision.com/Main/51/4377246/4201809.pdf

Loomis Interim Report January – June 2026

https://mb.cision.com/Public/51/4377246/940bbe0a24c483c8.pdf

Loomis Interim Report January – June 2026 – press release

 

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SOURCE Loomis AB

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