Global Augmented Reality (AR) Market witnesses a rise in CAGR during the forecast period. Augmented reality is a new technology that comprises represents a pictorial representation of computer graphics. AR is also termed as mixed reality that refers to multiple spectrum of virtual reality, telepresence and other technologies.
Virtual reality is a broad term used for computer generated 3D environment that enables a user to interact with artificial elements. At present, AR is considered as a technology encompassing virtual reality and telepresence. Under VR the environment is completely synthetic whereas in telepresence, the depiction is completely real and in AR, the real world is augmented with virtual things.
The key drivers for augmented reality market entail increase in healthcare devices and e-commerce. Rise in investment in the AR market along with proliferation of devices in the gaming and entertainment market contributes to the market enlargement. Technological advances and availability of creative workforce adds to the market growth during the forecast period.
By offering, augmented reality (AR) market is segmented as sensor displays, cameras and projectors. By device type, the market is segmented into head-mounted, head-up and handheld. Application segment for augmented reality industry comprises commercial, automotive, consumer and enterprise.
Geographical segmentation for augmented reality market comprises North America, South America, Europe, Asia-Pacific, Middle East and Africa. APAC regions are projected to rise at a higher rate during the forecast period owing to technological inclination towards advanced technologies for vision and perception. Presence of major players contribute to the market growth.
North American and European markets are likely to grow at a robust CAGR owing to presence of AR studios, technological revolution and advances in VFX technology. The key players in augmented reality (AR) industry include Magic Leap, Daqri LLC, Apple, Blippar, Sony, Wikitude, Microsoft, PTC, Google, Infinity Augmented Reality, CyberGlove SystemsInc, ODG, Eon Reality Inc and Samsung Electronics.
Augmented Reality(AR) Component Outlook (Revenue, USD Million, 2014 - 2024)
Augmented Reality(AR) Display Outlook (Revenue, USD Million, 2014 - 2024)
• Head-Up Display (HUD)
• Head Mounted Display (HMD)
• Smart Glass
Augmented Reality(AR) Application Outlook (Revenue, USD Million, 2014 - 2024)
• Aerospace & defense
• E-commerce &Retail
Augmented Reality(AR) Regional Outlook (Revenue, USD Million, 2014 - 2024)
• North America
• Asia Pacific
• Latin America
Research Support Specialist, USA