Augmented Reality is a combination of both real scene viewed by a user and virtual scene generated by a computer that makes the scene more useful with additional information. Integration of digital information with the user’s environment in real time is enabling a significant wave of computing power through a spatial computing revolution. The global augmented reality market is anticipated to grow at a significant growth rate during the forecast period. The major factors that are augmenting the growth of the market includes technological advancement, increasing adoption of augmented reality technology in healthcare and automotive industries, growing advertisement through AR technology and so forth. R&D and technological advancement enables to provide innovative products such as Google tango, Google Glass’s VIPAAR, CastAR, AR glasses, Zappar and so on. Various technologies that are used in AR across the globe includes optical projection systems, monitors, hand held devices and wearable display systems. Furthermore, emerging applications across e-commerce market and adoption of AR technology for effective advertising are also predicted to be major factors that are fuelling the growth of the market.
Moreover, rising adoption of tablets and smartphones are boosting the market growth since most of them are used for AR technology which is increasingly adopted across the globe. Globally, Pok?mon Go brought augmented reality into the mainstream, setting app store records in the process. Technology such as cast AR continues to advance at significant rate. The companies are investing heavily in this new immersive technology. Global giants such as Facebook and Google are contributing significantly in the AR and VR technology. Facebook acquired more than 10 AR and VR technology companies since 2013 and more such merger and acquisition are predicted in near future. Global technology key players including Google, Microsoft, Facebook, Snapchat and Apple are exploring this technology considerably. In the recent years, the core AR software which is known for delivering augmented reality service has started developing. These include Handhelds and mobile devices, primarily smartphones and tablets, built-for-purpose mobile workforce devices, Head-up displays (HUDs) for windshields, screens, visors, head mounted displays (HMDS), glasses, goggles, helmets, contact lenses, virtual retina displays, spatial displays and others in R&D.
Electronic commerce has been growing considerably over the past few years and it is predicted to grow further due to rising demand and technological advancement. The rise in the number of people using Smartphone, tablets and the gadgets to connect to the information space is proof of the reach of the internet as the most effective medium of trade. As more and more businesses move sections of their operations onto the Internet, it will diminish the boundaries between conventional and electronic commerce. Moreover, augmented reality has become marketing trends for increasing customer engagement. Augmented Reality enables Smartphone users to locate their phones’ cameras at certain objects which can be either a print advertisement or even a coffee cup to activate a 3D video. The growing demand for user engagement along with enhanced customer service across the application like real estate, retail and healthcare also contribute to the augmented reality market. However, lack of awareness, connectivity issues and high user expectation are affecting the market growth across the globe.
Global Augmented Reality market is analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. On the basis of the geography, market is bifurcated into North America, Europe, Asia Pacific and Rest of the World. Many established companies in the North American are investing in this region through strategic partnerships and collaborations with new players. is also driving the demand for augmented reality in automation market of the country.
Augmented reality market players include Google inc., Microsoft Corporation, PTC, Inc., Wikitude GMBH, Magic leap, inc., Daqri llc, and so on. Other notable players that account for augmented reality market share includes Zugara, inc., Blippar, Upskill, Atheer labs, among others. In order to stay competitive in the market these players adopt different marketing strategies such as merger, acquisitions, product launch, and geographical expansion so on. For example, in 2017, Microsoft launched a view mixed reality feature in Windows 10. It is designed to let Windows 10 users augment 3D objects, created in 3D Paint, into the real world by using any laptop with a webcam. Moreover, in 2017, German car giant BMW is planning to use augmented technology developed by Google to promote their business.
Global Payment Security Market is segmented on the basis of applications, device type, offerings and products. On the basis of the offering, the global augmented reality market is segmented into hardware and software. Hardware components for augmented technology include sensor, display, projectors and cameras which are increasingly adopted across the globe. Modern computing devices like computers, tablets and mobile phones contain these elements including cameras and sensors like accelerometer, GPS and solid state compass which make them suitable AR platforms. Global AR market players are focusing on enhancing the quality of sensors and processors used in AR devices. Furthermore, increase in demand for AR apps in gaming and entertainment is expected to drive the software segment in near future. Global Augmented Reality Market is categorized in various segments which includes-
Augmented reality market by applications
Augmented reality market by device type
Augmented reality market by offerings
Augmented reality market by product
The report covers:
Comprehensive research methodology of Global Augmented Reality Market
In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the Global Augmented Reality Market
Insights about market determinants which are stimulating the Global Augmented Reality Market
Detailed and extensive market segments with regional distribution of researched revenues
Extensive profiles and recent developments of market players