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Augmented Reality (AR) Market – Overview:Augmented reality (AR) is a live direct or indirect view of a physical, real-world environment whose elements are augmented (or supplemented) by computer-generated sensory input such as sound, video, graphics or GPS data. It is related to a more general concept called mediated reality, in which, a view of reality is modified (possibly even diminished rather than augmented) by a computer. As a result, the technology functions by enhancing one’s current perception of reality.
Owing to the increasing technology penetration across all the industries and verticals, the augmented reality market is projected to grow exceedingly.
Rising number of mobile devices including tablets and smartphones with built in AR functionalities enhance the smooth business workflows and operations further contributes to the growing industry size. This is how AR or Augmented Reality is becoming an important tool in the workplace.
Augmented Reality (AR) Market Players
Some of the major players in Global Augmented Reality Market include
• Sony (Japan)
• Apple (U.S.)
• Blippar (U.K.)
• Microsoft (U.S.)
• Google (U.S.)
• Qualcomm, Inc. (U.S.)
• Total Immersion (France)
• Magic Leap, Inc. (U.S.)
• PTC (U.S.)
• Daqri LLC (U.S.)
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Augmented Reality (AR) Market – Synopsis & Scenario
The major growth driver of Augmented Reality Market includes highly adoption of digital media, rise in demand for 3-D visualization in healthcare sector, and growing market of smart devices among others.
Hence the market for Augmented Reality is expected to grow at an extravagant rate of CAGR (2016-2027).
However, technological limitation is one of the major factors which are hindering the growth of Augmented Reality Market.
Industry News:
• PTC has announced in April 2016 about its new development smart connected retail PLM software. The software will provide visibility and connect consumers, products, stores, supply chain with the management.
• Blippar has acquired Layar in 2014. Layar was one of the pioneers to bring augmented reality in mobile platform. This acquisition would provide Blippar an opportunity for bringing comprehensive insights on user preferences with respect to augmented reality technology.
Augmented Reality (AR) Market Segments
For an easy understanding the Global Augmented Reality Market is segmented as follows:
Segmentation by Type: Hardware (sensors, display, processors, semiconductor) and software.
Segmentation by Application: consumer electronics, commercial, healthcare, automobile, and logistics among others.
Augmented Reality (AR) Market – Regional Analysis
North America is expected to dominate the Global Augmented Reality Market with the largest market share, and therefore accounting for even greater growth by 2027.
Augmented Reality Market in Asia-Pacific market is expected to grow at a significant rate of CAGR by 2027.
The Europe market for Augmented Reality Market is expected to grow comprehensively (2016-2027).
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Augmented Reality (AR) Market – Reasons To Buy
- The Report Provides detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the Global Augmented Reality market.
- Provides insights about factors affecting the market growth.
- Enables to analyze the Augmented Reality Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- Provides historical and forecast revenue of the market segments and sub-segments with
respect to four main geographies and their countries- North America, Europe, Asia, and
Rest of the World (ROW).
- Offers country level analysis of the market with respect to the current market size and
future prospective.
- Provides country level analysis of the market for segment by type, by application and sub-segments.
- Offers strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- Enables to track and analyze competitive developments such as joint ventures, strategic alliances,
- Provides mergers and acquisitions, new product developments, and research and developments in the Global Augmented Reality Market.
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