Global Augmented Reality Market to reach USD 149 billion by 2025.
Global Augmented Reality Market valued approximately USD 4.32 billion in 2017 is anticipated to grow with a healthy growth rate of more than 55.73% over the forecast period 2018-2025. The major driving factors that are concentrated with augmented reality are increasing penetration of technological advancements, growing adoption of E-commerce and retail sectors across the world and rising demand in healthcare. High implementation cost and issues such as less storage and slow processing are the major restraining factors that negatively impact the augmented reality market. In addition, increasing awareness regarding tracking customer transactions, recording sales and calculating bills is boosting the growth of the market. Augmented reality refers to indirect view of physical environment whose elements are augmented with inputs such as sound, video or graphics. Hardware sub-segment is expected to hold a major share of the augmented reality market by component owing to the increasing penetration of technology across applications. Augmented reality is responsible for transforming the world of education and healthcare with its various applications. Due to usage of augmented reality results in increase sales and improve notoriety. By taking advantage of augmented reality, the brand or the company can both attract new audiences and retain its existing customers.
The regional analysis of Global Augmented Reality Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share followed by Europe and Asia-Pacific region. Due to increasing technological advancements and rising popularity in augmented reality activated devices in North America dominating by US and Canada. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 due to major changes in technological adoption and advancements.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Head Mounted Display
- Head-Up Display
- Handheld Devices
- Consumer Electronics
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include, Google Inc., Microsoft Corporation, PTC, Wikitude GmbH, Daqri, Zugara Inc., Blippar, Upskill, Magic Leap, Osterhout Design group, Infinity Augmented Reality, Samsung Electronics Co. Ltd., Atheer Inc. Ltd. , Apple, Facebook Inc., Scope AR, Inglobe Technologies, Embitel Technologies, Seiko Epson Corporations , Marxent Labs LLC, Catchoom Technologies, HTC Corporations, Qualcomm, Rockwell Collins Inc. and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Augmented Reality Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers