Augmented Reality Market Share By Major Players: AccuVein Inc., Affectiva, APX Labs, Blippar, DAQRI, Google, Infinity Augmented Reality, Inc., Magic Leap, Marxent, Microsoft, Niantic, Inc., Nintendo, ODG (Osterhout Design Group), PTC, Qualcomm, Recon Inst

Augmented Reality Market in software segment is expected to gain significant share owing to the increasing focus on software development platforms for enterprise applications. The software component includes software developer kits, software solutions and cloud services to be used with hardware. Growing penetration of tablets and smartphones is encouraging the developers to offer rich media experiences through mobile applications. Developers are investing in developing platforms specific for applications to develop differentiated offerings.

Hardware segment in the augmented reality 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.

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(AR) Augmented Reality Market exceeded USD 1 billion in 2016 and is set to hit USD 50 billion by 2024; according to a new research report by Global Market Insights, Inc. The shipments are forecast to grow at over 75% CAGR from 2017 to 2024.

Augmented reality 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. 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.

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.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. AccuVein Inc.
2. Affectiva
3. APX Labs
4. Blippar
5. DAQRI
6. Google
7. Infinity Augmented Reality, Inc.
8. Magic Leap
9. Marxent
10. Microsoft
11. Niantic, Inc.
12. Nintendo
13. ODG (Osterhout Design Group)
14. PTC
15. Qualcomm
16. Recon Instruments
17. Samsung Electronics
18. Sony Electronics
19. Sphero
20. Total Immersion
21. Wikitude

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Augmented Reality Market, By Component
• Hardware
o Head mounted display
o Head-up displays
o Smart glasses
• Software
Augmented Reality Market, By Application
• Medical
• Automotive
• Aerospace & defense
• Gaming
• Retail
• Industrial
• Others

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.

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.

Key players in the augmented reality market include AccuVein Inc., Affectiva, APX Labs, Blippar, DAQRI, Google, Infinity Augmented Reality, Inc., LAFORGE Optical, Magic Leap, Marxent, Medsights Tech Corp., Microsoft, Niantic, Inc., Nintendo, ODG (Osterhout Design Group),, Prologue Immersive, PTC, Qualcomm, Recon Instruments, Samsung Electronics, Sony Electronics, Sphero, Total Immersion, and Wikitude.

Browse key industry insights spread across 242 pages with 353 market data tables & 32 figures & charts from the report, Augmented Reality Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/augmented-reality-ar-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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