Augmented reality market is estimated to exhibit high growth potential during the forecast period owing to its increasing demand across various industry verticals. Rising demand among the end users for augmented reality is driving the growth of the market. Additionally, innovations and advancements in technology, and increasing use of smart and connected devices is adding fuel to the growth of the augmented reality market.
Atheer, PTC, Bipplar, Google Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., Wikitude GmbH, DAQRI, Zugara, Upskill, Magic Leap and Infinity Augmented Reality are some of the leading players in the market. Atheer has acquired SpaceView to create a richer augmented and mixed reality experience for the users. The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements. With this acquisition, Atheer has extended its growing portfolio of innovative augmented reality and mixed reality technologies and capabilities. Increasing trend of smart devices and growing trend of augmented reality devices in the healthcare sector are the major factors driving the growth of the market. The focus towards the promotion of the implementation of augmented reality devices in medical applications is increasing due to the convenience and creativity being provided, and growing trend of digitalization is another factor responsible for fueling the growth of augmented reality market.
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According to Market Research Future Analysis, the global augmented reality market is estimated to generate revenue of approximately USD 30 billion by 2023 growing at a CAGR of 39% during the forecast period 2017-2023.
Some of the prominent players in the global augmented reality market are Qualcomm Technologies Inc. (U.S.), Microsoft Corporation (U.S.), Blipper Inc. (U.K.), Infinity Augmented Reality Inc. (U.S.), Google Inc. (U.S.), DAQRI (U.S.), Samsung Electronics Corporation Ltd. (South Korea), Catchoom Technologies (Spain), Magic Leap Inc. (U.S.), Sony Corporation (Japan), PTC Inc. (U.S.), Wikitude GmbH (Austria), Zugara, Inc. (U.S.), Osterhout Design Group (U.S.), METAIO’s SDK (Germany), Facebook, Inc. (U.S.), and Total Immersion (France) among others.
The worldwide Augmented Reality Market is segmented into five distinct parts. They comprise of technologies, applications, components, types, end-users & geographies.
On account of technologies, the market is bifurcated into near eye based technology & monitor based technology.
On the basis of applications, the market is fragmented commercial, enterprise, medical, energy, aerospace & defense and consumer electronics.
The component section is sub-divided into software & hardware.
When it comes to types, the industry is separated into head-up display, handheld devices & mounted display.
Enterprises & consumers form the end-users portion of the market.
Regionally, the market is spread across North America, Asia Pacific, Europe & Rest of the World.
The global augmented reality market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that Asia Pacific is estimated to account for the largest share of the market, whereas North America is projected to grow at the fastest rate during the forecast period. The Asia Pacific market growth is attributed to technological advancements and increased adoption of mobile devices across various industry verticals.
- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Hospitality Sector
- Raw Material and Manufacturing Equipment Suppliers
- Semiconductor Foundries
- Original Equipment Manufacturers (OEMs)
- Research Organizations
- Analysts and Strategic Business Planners