Mixed reality has been around for decades but has hit the market just a few years back. Virtual reality and augmented reality are a part of mixed reality. There has been a lot of research and development in this field and a number of prototypes were made for the various products and applications. This application was a very niche market some time back but the companies have realized the need for a new technology and are now leveraging the same to the consumers. A number of products are commercially available as of today and the market will witness an immense growth in the products and applications for augmented reality.
The research report deals with the current trends in the augmented reality applications market as well as the expected future trends in the same. The product life cycle of the products that support augmented reality is discussed with their future trends. The target applications of augmented reality are explained with an analysis of the highest attractive market. The report is segmented on the basis of products, applications, technology, and geography.
As of today, only 0.1% of the users are using augmented reality products in the total market of products under study. It is estimated that in the coming five years, 1% of the population will be using this application; which is an exponential rise in the overall market. As the market will grow up, many categories of application will incorporate augmented reality features; particularly in retail, travel, and gaming application. The world will witness the use of these applications across all domains.
At present, North America and Europe are the major contributors in the augmented reality application market; but, in the coming five years, Japan, China, and South Korea will have a major chunk in the market share of augmented reality. Right now, the augmented reality application market is liberated by small companies with talented developer squad. As the augmented reality application market will grow, it is expected that established industry players will increase their involvement.
The growth of the augmented reality applications market is expected to be exponential with the revenue growth from $181.25 million in 2011 to $5,155.92 million by 2016, at a CAGR of 95.35% from 2011 to 2016. The most attractive of all the segments is the smartphones segment; followed by the tablets, and so on. The major players that provide software for augmented reality are Total Immersion (France), Metaio (Germany), Wikitude (Austria), Zugara (U.S.), and Layar (The Netherlands).
Scope of the report
This augmented reality applications market research report categorizes the global market on the basis of them being used in different products, applications, the technology being used to view the augmented image, and geographical analysis; forecasting revenue, and analyzing trends in the market.
Each section makes provisions for market data, market drivers, trends and opportunities, key players, and competitive outlook. It makes ways for market tables to enclose the sub-segments and micro-markets. In addition, the report provides more than 20 company profiles covering all the sub-segments.