Augmented Reality Market 2024 Global Analysis By Key Players Affectiva, Blippar, DAQRI, Google, Magic Leap, Microsoft, Niantic, Inc., Nintendo, PTC, Qualcomm, Samsung Electronics, Sony Electronics, Sphero

An elemental realm of the smart technology space, augmented reality market has, in recent times, emerged to be an extensively deep-rooted niche vertical, the expansive growth of which can be unquestionably credited to the heavy applications that AR finds across myriad businesses such as retail, medical, aerospace, automotive, and most influentially, the gaming zone. The extensive deployment of AR in games is coherently vivid from the massive popularity that gaming products enjoy among a tech-savvy consumer base. For instance, recently, internet tabloids were ablaze with the news that Pok�mon Go has received a major AR makeover. That is to say, the existing AR feature on the game has been sufficiently updated so as to retain the phone's battery life - all due to the ARKit framework embedded in the iOS 11. This incidence validates the fact leading tech magnates partaking in augmented reality market have been going the whole nine yards to explore and innovate as many exceptional AR products in order to expand the application landscape of this business space.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Affectiva
2. Blippar
3. DAQRI
4. Google
5. Magic Leap
6. Microsoft
7. Niantic, Inc.
8. Nintendo
9. PTC
10. Qualcomm
11. Samsung Electronics
12. Sony Electronics
13. Sphero

Primarily backed by the fact that AR technology has already made profound inroads in the automotive domain since the inception of 21st century, experts claim, augmented reality industry from this particular business sphere is set to gain exceptional proceeds over the coming years. Big shot automakers across the globe have been increasingly deploying this technology in a bid to bring next version vehicle manuals. Volkswagen's MARTA (Mobile Augmented Reality Technical Assistance) app that provide a thorough repair assistance to amateur mechanics can be placed as a testament to the aforementioned fact.

Add to it, the race to develop self -driving vehicles that is presently heating up the automotive space, is also expected to open up new growth opportunities for augmented reality market. Though automotive giants are highly excited with the changing trend, there is a still a wave of inhibition among the consumers due to dearth of proper know-how. Experts believe, increasing integration of AR technology in automobiles would bridge the gap, gradually encouraging consumers to get accustomed with the new technology. From navigation to improving automobile control, automotive sector, as per experts' opinion, is reportedly one the most remunerative growth avenues for augmented reality industry.

While the underlying technology and the application expanse of augmented reality market is rapidly advancing, one of the major constraints that is somewhat acting as a deterrent in the business penetration is the privacy vulnerability concerns associated with the technology. The integration of AR technology into any platform requires disclosure of personal info, which when mishandled often lead to privacy risks. However, renowned companies partaking in augmented reality market are readily investing in research activities to come up with innovative solutions that would address the rising privacy concerns.

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Considering the robust initiatives being undertaken worldwide to harness the fullest potential of this technology, augmented reality industry, though still at a nascent stage, is certain to achieve phenomenal gains over the coming seven years. The overall augmented reality market size to exceed a valuation of USD 50 billion by 2024.

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