Worldwide Latest Market Research Report on “Global Augmented Reality Market – Segmented by Component type (Hardware and Software), by Application (Medical & Healthcare, Automotive, Aerospace & Defense, Gaming, Retail, and Industrial), and Geography – Growth, Trends, and Forecasts (2019 – 2023) 2019-2023”
The Global Augmented Reality market with CAGR of XX% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Augmented Reality by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- 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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Overview 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 2019-2023 (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
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Reasons to Purchase this Report:
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 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.
Global Augmented Reality Market highlights the following key factors:
- A complete informative analysis of Augmented Reality industry, which includes a valuation of the parental market.
- Emerging trends by sections and regional markets.
- Major developments in market dynamics & market overview.
- Augmented Reality Market shares and methods of key players in the Augmented Reality market.
- Current and predictable size of Augmented Reality market from the outlook of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the Augmented Reality market.
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 Cautiousness and 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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Key Features of the Augmented Reality Market Report:
- Augmented Reality Market insights and finger analysis will help take knowledgeable decision in the changing competitive dynamics.
- To build up a far-reaching, verifiable, every year refreshed and financially perceptive data dependent on execution, capacities, objectives, and systems of the world is driving organizations.
- To help current providers reasonably evaluate their money related, advertising and innovative capacities opposite driving contenders.
- To supplement associations internal competing data gathering endeavors by giving vital investigation, information understanding, and knowledge.
- Five-year forecast measure would give a clear understanding of future growth.
- Investigation of upcoming and past market information will help in organizing an outline of current business strategies.
- Comprehensive information of market players will help understand consumer demands and market scope.
- Development opportunities and forecast buyer requests will evoke the collection of revenue.
- A comprehensive analysis of the changing competitive dynamics will keep you ahead of the competitors.
- The fresh proficient elements such as industry production study, revise product-launching events, growth and risk factors will help in the forecast feasibility analysis.
- To distinguish the slightest focused market specialties with huge development potential.
The growth of this market worldwide is subjected to various factors; including consumer world-class Augmented Reality Market of many Augmented Reality Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Augmented Reality Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Augmented Reality Market competitors.
Mr. Ajay More
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