The Global Augmented Reality Market accounted for USD 650.8 million in 2016 growing at a CAGR of 70.7% during the forecast period of 2017 to 2024.
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An augmented reality is a technology in which a live direct or indirect view of a physical, real-world environment are being viewed through a device on which elements are augmented by computer-generated sensory input such as sound, video, graphics or GPS data. This technology is widely adopted and incorporated into gaming and other forms of video and entertainment as well as it is increasingly adopted in other applications such as aerospace and defense, medical, and commercial.
The continuous innovations in the augmented reality industry coupled with advancements in GPS technology has led to increase the potential of the market in the global scenario.
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Top Key Players:
- Google Inc.
- Microsoft Corporation
- Vuzix Corporation
- Samsung Electronics Co.
- Qualcomm Inc.
- Oculus VR
- EON Reality Inc.
- Infinity Augmented Reality Inc.
- Magic Leap Inc.
- Among others.
On the basis of technology into Marker-Based augmented reality, and marker less augmented reality. The augmented reality segment is further sub-segmented into passive marker, and active marker.
The marker less augmented reality segment is further sub-segmented into model-based tracking, and image processing-based.
On the basis of device type into head-mounted displays, head-up display (HUD), and handheld device. The global augmented reality market is also segmented on the basis of component into hardware, and software.
The hardware segment is further sub-segmented into 3D camera, sensors, semiconductor component, and displays. The software segment is further sub-segmented into software development kits, and cloud-based services.
On the basis of end user, the global augmented reality market is further segmented into aerospace and defense, consumer, medical, and commercial. The consumer segment is further sub-segmented into gaming, sports and entertainment.
Drivers and Restraints:
- Increasing demand for AR-based applications in medical sectors
- Increasing interest of large tech companies
- Low cost and reliability for small sensors
- Limitations for processing power, less storage, and restricted size of storage devices
- Lack of interaction with physical products
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