Augmented Reality Market report provides emerging opportunities in the market and the future impact of major drivers and challenges and, support decision makers in making cost-effective business decisions. Augmented Reality Market analyse factors that effect demand for Augmented Reality, driving factors, trends, and challenges faced by industry vendors, regional analysis, Segment by Type, Applications of whole Augmented Reality industry.
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Description of Augmented Reality Market: In 2017, the augmented reality market was valued at USD 5.85 billion and is projected to reach a value of USD 70.01 billion by 2023, registering a CAGR of 51.24%, during 2018-2023 (the forecast period). The scope of this report is limited to the solutions that are offered by the major market players, including providers of hardware and software. The technology segment discussed in the report is limited to head-mounted display, heads-up display, virtual retinal display, and spatial augmented reality systems. While the regions considered in the scope of the report include North America, Europe, Asia-Pacific, and Rest of the World. Also, the study emphasizes on various attack points in augmented reality technological innovations, new developments in the usage, and augmented reality investments.
Augmented reality is the future of mobile devices. It will allow consumers to experience a new dimension, based on user preferences. About 22.8 million AR glasses are expected to be shipped by 2020. The user base for AR technologies is also expected to grow beyond 1 billion by 2020. Augmented Reality is likely to present a completely new way to engage and expand the abilities of retailers. The possibilities of augmented reality are endless, especially when combined with the ever-evolving wireless technology, which enables the integration of mobile devices and home appliances, in order to provide an enhanced connected experience for the end users. Huge potential opportunities in biotechnology and healthcare are expected to drive the growth of the augmented reality market over the forecast period.
Increased Demand for Smartphone-based AR Applications
With the proliferating social media culture, the market for augmented reality is expected to witness a robust growth over the next few years. This growth can be attributed to the fact that major players in the social media market are collaborating with leading tech companies, to provide an unmatched physical experience for consumers and essentially tapping a potentially untapped market. Combining the capabilities of GPS, augmented reality and highly focused cameras are set to transform the gaming experience for smart device owners, which will propel the growth of the market in the commercial and retail spaces.
Medical & Healthcare Expected to Witness High Growth in terms Augmented Reality
The medical field is expected to be highly influenced by the application of augmented reality. It is already in use for practical purposes, and the technology is further expected to play an important role in the future of medicine. Google Glass and VIPAAR, a virtual AR app, were used to perform surgery, indicating the AR’s potential applications and the scope for its successful adoption in the field of healthcare. The capabilities of AR technology can allow surgeries to be simplified, offering a safe environment and experience to patients. It may reduce the chances of medical problems, arising after a surgery is performed. Apart from Google Glass, a number of devices are being made to be used in the medical field. Doctors have been using a skin cancer app that can calculate the impact of moles with real-time vision and, further, receive feedback. Blood infusion instruments, like glasses and devices, are being used to locate veins, allowing for blood work to be performed quickly and IVs inserted without ever worrying about missing a vein. Augmented reality is embedded with immense technological features, which could play a vital role in redefining the healthcare industry, and hence the sector is expected to be one of the major benefactors of the market growth.
United States to Witness a High Adoption Rate for the Augmented Reality
The United States is expected to be one of the fastest growing market in the world for AR in the near future. Most of the companies advancing in this technology are based in the United States. About 64% of the consumers from the country believe in the positive changes by the adoption of AR in workplace. Leading players, like Microsoft and Magic Leap, are actively working on this technology, using the United States as their base. This factor is likely to influence the growth of the technology in the country over the forecast period. Also, the United States is one of the most technologically advanced countries in the world. High technology exposure and ease of availability of smart devices have created a strong market in the region. Microsoft AR product, Hololens, was first released in the United States and Canada, and has received positive response from the consumers in the country.
Key Market Players: GOOGLE, MICROSOFT, FACEBOOK, SAMSUNG, APPLE, QUALCOMM VUFORIA, METAIO SDK, TOTAL IMMERSION, SPHERO, SONY, POPAR, NINTENDO, LAYAR, AURASMA, DAQRI, ZAPPAR, APPSHAKER, GRAVITYJACK, MARXENT, BLIPPAR
Global Augmented Reality Market: Manufacturers Segment Analysis (Company and Product introduction, Augmented Reality Sales Volume, Revenue, Price and Gross Margin):
- Google Inc.
- Microsoft Corporation
- Facebook Inc
- Samsung Co Ltd.
- Apple Inc
- Qualcomm Vuforia
- Metaio Sdk
- Total Immersion
- Sphero Inc
- Sony Corporation
- Popar Co Ltd
- Nintendo Co Ltd.
- Layar Bv
- Daqri Llc
- Zappar Ltd.
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Augmented Reality Market report passes on a fundamental overview of the Market including its definition, applications and advancement. Furthermore, the Industry report investigates the ecumenical Major Augmented Reality Market players in detail. Augmented Reality Market report gives key bits of Cautiousnessand subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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Reasons to Purchase this Report
- Examine the effects of advent of augmented reality in the market
- Analyze various perspectives of the market with the help of Porter’s five forces analysis
- The product type and application that are expected to dominate the market
- The regions that are expected to witness the fastest growth rate during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support, along with the Market Estimate sheet in excel.
The Global demand for Augmented Reality Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.
Augmented Reality Market Historic Data (2012-2018):
- Industry Trends: Status and Outlook.
- Competitive Landscape: By Manufacturers, Development Trends.
- Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
- Market Segment: By Types, By Applications, By Regions/ Geography.
- Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
Augmented Reality Market Forecast (2018-2025):
- Market Size Forecast: Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue): Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
Augmented Reality Market Influencing Factors:
- Market Environment: Government Policies, Technological Changes, Market Risks.
- Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
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In addition, company-to-company comparison (Company benchmarking) and product-to-product comparison (Product benchmarking) are included in the research work. It presents key competitive factors that are vital for companies to excel in challenging market conditions.