51.24% CAGR growth by 2023 in Augmented Reality Market| Key Vendors - GOOGLE, MICROSOFT, FACEBOOK, SAMSUNG, APPLE, QUALCOMM VUFORIA, SONY, POPAR, NINTENDO, LAYAR, AURASMA, DAQRI, ZAPPAR, amongst others

Market Analysis:

United States to Witness a High Adoption Rate for the Augmented Reality
Most of the companies advancing in this technology are based in the United States. About 64% of the consumers from the country believe in the positive changes by the adoption of AR in workplace. Leading players, like Microsoft and Magic Leap, are actively working on this technology, using the United States as their base.

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Augmented reality is the future of mobile devices. It will allow consumers to experience a new dimension, based on user preferences. With the proliferating social media culture, the market for augmented reality is expected to witness a robust growth over the next few years. This growth can be attributed to the fact that major players in the social media market are collaborating with leading tech companies, to provide an unmatched physical experience for consumers and essentially tapping a potentially untapped market. Augmented Reality is likely to present a completely new way to engage and expand the abilities of retailers. The possibilities of augmented reality are endless, especially when combined with the ever-evolving wireless technology, which enables the integration of mobile devices and home appliances, in order to provide an enhanced connected experience for the end users. Huge potential opportunities in biotechnology and healthcare are expected to drive the growth of the augmented reality market over the forecast period.

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Market Segments:
Augmented Reality Market is segmented by:
1. Component Type: Hardware, Software
2. Applications: Medical & Healthcare, Automotive, Aerospace & Defense, Entertainment, Retail, Industrial, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
January 2018: Google introduced a new Google expeditions, which provides augmented reality to schools and enables better understanding and learning experience for the students.
December 2017: Pokémon Go, a game that uses AR for the gameplay, released an update, which used Apple augmented reality tech for the functioning.

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