Augmented Reality Market Growth Analysis Overview 2017-2024 By Blippar, Google Inc., Microsoft Corporation, Upskill, DAQRI LLC, PTC, Qualcomm, Magic Leap, Wikitude GmbH

Augmented reality market has lately emerged to be a highly lucrative vertical on account of the fact that AR is today considered as a highly transforming technology impacting the service portfolio of many industrial sectors including IT, telecommunication, automotive, e-commerce, and electronics. Leading end-user companies are looking forward toward harnessing this technology to bring about significant changes in creativity and operational capability.

MarketStudyReport.com Adds New Augmented Reality Market 2017 – 2024 research report providing information By Component (Hardware [Smart Glasses, Head-Mounted Display (HMD), Head-Up Display (HUD)], Software), By Application (Medical, Automotive, Aerospace & Defense, Gaming, Retail, Industrial)

Augmented Reality Market is set to exceed USD 50 billion by 2024; according to a new research report. The shipments are forecast to grow at over 75% CAGR from 2017 to 2024.

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Currently, with the surging development of software-based technologies, smartphone and next-generation electronics media manufacturers have been tapping the popularity of AR. In fact, many leading tech giants are acquiring start-ups to achieve a dominating position in the augmented reality market. For instance, recently, Apple Inc. acquired the augmented reality display maker, Akonia Holographics LLC. With the acquisition, the U.S. giant is looking forward to launching new AR glasses by the end of 2024. Driven by the consistent efforts by industry players, augmented reality market is likely to undergo a major change of dynamics in the years ahead.

AR market is expected to grow at a significant rate, owing to the growing penetration in industrial applications. Industries such as retail, automotive and medical are leveraging the potential of the technology to enhance operational efficiency. The technology helps to cut major costs such as additional manpower. For instance, Brick and Mortar stores have adopted AR apps to navigate & guide the shopper through the aisles to all the products. These are used to trigger customer imagination and entice to try products which increases the user engagement level. Several organizations including research and development labs are investing immensely in the technology to develop solutions for enterprise and consumer segments. Mobile augmented reality market has witnessed high adoption over the years across applications including gaming, media and marketing.

Growing use of the technology in construction and architecture is expected to drive the augmented reality market growth. Construction companies are heavily investing in implementing the technology for designing and modelling with advanced 3D tools instead of working on time-consuming blueprints. This has increased the efficiency, reduced instances of errors, and saved resources on a construction site. For instance, Bentley Systems is using HUDs in construction and excavation to have blueprints at the fingertips of the workers. Rising privacy issues due to the increasing usage of the technology is expected to hinder the augmented reality market over the forecast timeframe. The technology is able to reveal personal information to strangers or a group of people that causes the privacy risks. Furthermore, lack of technical expertise is expected to challenge the industry growth. However, rising inclusion of the technology in academic syllabi is expected to solve the issue in the long term.

Hardware segment in the AR market is projected to gain considerable share, owing to growing popularity of smart glasses. Ease-of-use and high-degree of convenience offered by these devices is attracting consumer attention. Many companies including Sony, Vuzix, Epson, Solos, and ODG are developing smart glasses with sharp resolutions and high-quality specifications.

HMDs are expected to grow at a significant rate over the forecast timespan, owing to increasing applications in the military & defense sector. In May 2014, U.S. military announced that the launch of ARC4, a system designed to equip the soldiers on the battlefield. The gadget attaches to military helmets and allows commanders to send maps and navigation information to soldier's field of vision. Such innovations are expected to propel the HMD demand and thus the augmented reality market growth.

Top Manufacturers in global market are given bellow: Blippar, Google Inc., Microsoft Corporation, Upskill, DAQRI LLC, PTC, Qualcomm, Magic Leap, Wikitude GmbH, Samsung Electronics Co. Ltd., Apple Inc., Facebook Inc., HTC Corporation, and Marxent Labs

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The above information is provided on a regional and country basis for the following:

U.S., Canada, Germany, UK, France, Italy, Russia, China, Japan, India, South Korea, Taiwan, Brazil, Mexico

Growing penetration of the technology in travel and tourism industry is expected to propel the augmented reality market growth. Several applications that leverage the technology are being developed to guide tourists in foreign countries. For instance, google developed Word Lens, which is now a part of Google Translate. The app translates text to user's language when aimed at a foreign sign. Yelp has developed Yelp Monocle, an AR feature that gives information to the user on local establishments on pointing the smartphone at a location.

Augmented Reality Market, By Component
• Hardware
• Head mounted display
• Head-up displays
• Smart glasses
• Software

Augmented Reality Market, By Application
• Medical
• Automotive
• Aerospace & defense
• Gaming
• Retail
• Industrial
• Others

Table of Content@

Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Commercial Drone Industry Insights
Chapter 4. Competitive Landscape
Continued@........................

Data Tables

TABLE 1. AR industry 360 degree synopsis, 2014 - 2024
TABLE 2. Global AR market, 2014 - 2016 (USD Million)
TABLE 3. Global AR market, 2017 - 2024 (USD Million)
TABLE 4. Global AR market, by region, 2014 - 2016 (USD Million)
TABLE 5. Global AR market, by region, 2017 - 2024 (USD Million)
TABLE 6. Global AR market, by region, 2014 - 2016 (Thousand Units)
TABLE 7. Global AR market, by region, 2017 - 2024 (Thousand Units)
TABLE 8. Global AR market, by component, 2014 - 2016 (USD Million)
TABLE 9. Global AR market, by component, 2017 - 2024 (USD Million)
TABLE 10. Global AR market, by hardware, 2014 - 2016 (Thousand Units)

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