Augmented Reality Market Research Report 2017 of 153 pages explores Global Augmented Reality Market reaching $61.39 billion by 2023. Report provides Augmented Reality Market Size, Share, Manufacturers, Statistics, and Opportunities Forecast to 2023. The global Augmented Reality market is estimated to grow at a CAGR of 55.71% between 2017 and 2023. Augmented reality is the integration of digital information with the user's environment in real time.
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Augmented Reality Company analysed in report are Google, Inc. (US), PTC Inc. (U.S.), Microsoft Corporation (US), Wikitude GmbH (Austria), DAQRI LLC (US), Zugara, Inc.
(US), Blippar (UK), Magic Leap, Inc. (US), and Osterhout Design Group (US).
Growth of this market increasing demand for AR devices and applications in medical, increase in demand for AR in the retail and e-commerce, and rising investment in the augmented reality market are the major drivers for the augmented reality market.
The limited UI (user interface) affecting the navigation performance of augmented reality applications, limited processing power, less storage, and restricted size of the memory card in mobile phones, and varied infrastructure quality of digital network will restrain the growth of AR.
“The Augmented Reality market is estimated to witness significant growth between 2017 and 2023”
Head-mounted displays allow a user to wear the display device on the head and place images of the real and virtual environments over the user’s view. The original HMDs were created mainly for military applications to help soldiers acquire their targets and track enemy movements easily.
With advancements in computing, AR-enabled devices would be used for applications in consumer, commercial, and enterprise. Consumer applications such as gaming, sports, and entertainment would boost the augmented reality market for head-mounted displays.
The use of head-mounted displays in the aerospace and defense sector helps pilots of helicopters and captains of ships in the air force and navy to target and view enemy’s operations with a greater ease. The use of head-mounted displays in applications such as e-commerce and marketing would boost the AR market for HMDs.
“Augmented reality market for enterprise application is expected to witness high growth during the forecast period”
Augmented reality is used in enterprises for training personnel, providing information about the industrial facility, remodeling and redesigning, and industrial simulations. The use of the Internet and smartphones combined with digital content, such as augmented reality, has helped boost the market.
The use of HMDs in manufacturing setups is the major driver for the growth of enterprise application in the augmented reality market.
The report would help leaders/new entrants in this market in the following ways:
- This report segments the augmented reality market comprehensively and provides the closest market size estimation for major industries across various regions.
- The report would help stakeholders understand the pulse of the market and provide them with the information on drivers, restraints, challenges, and opportunities for the market.
- This report would help stake holders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product launches and developments, partnerships, fund raising, and acquisitions.