Augmented Reality is used in big data analytics, mobile technology and the Internet to offer new data-oriented communication channels for enterprises.
Absolute Markets Insights brings key comprehensions on the subject of Augmented reality (AR) in Enterprise Market in its latest report titled ‘Augmented reality (AR) in Enterprise Market by Component (Hardware and Software); by Display Device (Head-Mounted Display, Smart Glass and Head-up Display); by Enterprise (SME’s, Large Enterprise); by Application (Automotive, Aerospace and Defense, Medical, Gaming, Retail); by Regional Outlook (U.S., Rest of North America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Japan, India, Southeast Asia, Rest of Asia Pacific, GCC Countries, Southern Africa, Rest of MEA, Brazil, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018 - 2026.
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The major factor that is propelling the market growth is acceptance of AR among young customers as previsualization of product allows consumers to feel the experience of ownership before purchasing the product. Global brands such as Coca Cola are also exploring immersive experiences in marketing campaigns to attract their customers.
Moreover, the high-resolution pictures, and real time imaging provided by AR reduces the cost in various sectors, thus increasing the demand for AR globally.
Less storage and restricted size of memory card in mobile phone may hamper the growth of augmented reality (AR) in Enterprise Market in future. However, rising investments among top players in the augmented reality market is anticipated to provide greater opportunities for this Market to propel in forecast period.
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Automotive Application is Currently Having the Highest Market Share during 2018-2026
Automotive application is currently dominating the market owing to increasing adoption of in-vehicle advanced driver assistance system. The introduction of many new characteristics such as night view system with pedestrian detection function is also propelling the market as it enhances the driver’s vision.
This cluster provides drivers more information compared to conventional instrument clusters in easy-to-read format. The product displays wide range of information that can be viewed graphically in different display modes depending upon the driving situation and to meet the driver’s preferences.
North America is Currently Having the Highest Market Share during 2018-2026
North America is currently dominating the market due to its high acceptance and usage in United States. The people in United States are extremely flexible and do not have reluctance to accept new technology.
Thus, this has given augmented reality providing companies a big platform to demonstrate their products. The region is also witnessing growing collaborative business between the companies to develop advanced products.
This is expected to accelerate the growth of region in future. For instance, in November 21, 2017, Apple acquired augmented reality headset startup Vrvana for $30M.
This acquisition was made due to Apple’s interest in AR hardware business and to penetrate more in augmented reality market.
Some of the significant players functioning in the consolidated global Augmented reality (AR) in Enterprise Market include Apple Inc., Blippar, CyberGlove Systems LLC, DAQRI LLC, Eon Reality, Inc., Facebook Inc., Google Inc, HTC Corporation, Magic Leap, Inc., Marxent Labs LLC, QUALCOMM, PTC Inc., Microsoft, Rockwell Collins, SAMSUNG, Upskill, Vuzix Corporation and Wikitude GmbH among others. In November 2017, Blippar launched an AR City app which uses visual inertial odometry and its Urban Visual Positioning system through a phone’s camera and shows users where on a street to walk.
This also highlights nearby points of interest for the pedestrian. This helped the startup firm to acquire more market share in the market.
Global market is segmented into:
- Augmented reality (AR) in Enterprise Market – By Component
- Augmented reality (AR) in Enterprise Market – By Display Device
- Head-Mounted Display
- Smart Glass
- Head-up Display
- Augmented reality (AR) in Enterprise Market – By Enterprise Size
- Large Enterprise
- Market By Application
- Aerospace and Defense
- Market By Region
- North America
- Rest of North America
- The UK
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
- North America
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