Augmented Reality Market size to expect a massive growth of 65% to 2024

Players in the augmented reality market include Blippar, Google, Upskill, Daqri, Magic Leap, PTC, Facebook, Samsung Electronics, Apple, HTC, Qualcomm, and Microsoft.

Selbyville, Delaware, USA - June 12, 2019 /MarketersMedia/ —

The size of augmented reality market is set to surpass a valuation of USD 50 billion by 2024. The technology has witnessed a high demand owing to the rising applications in the retail and E-commerce sector. Retail shops are integrating augmented reality in their products for better customer experience by enabling them to try on their products using the technologies to save customers’ time.

Increasing usage of advanced technologies in the healthcare and automotive sector is projected to push the demand for the augmented reality market size. DAQRI has enabled a smart heads-up display for automobiles, which uses the technology to represent vital navigation data, fuel consumption, and current speed data on to the windscreen of the automobiles. The technology is being developed for the healthcare sector to depict the image of a certain person’s bones, such as Femur and Radius-Ulna, into the reality using the AR.

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The development of the software components such as software solutions and cloud services has resulted in a high demand for the augmented reality market. Software development has resulted in the development of head-mounted displays that have six degrees of freedom, resulting in free head movement. Smart glasses segment is projected to show a consistent growth over the forecast time span owing to a diverse range of applications performed in the healthcare industry. Innovations in hardware products, such as contact lenses equipped with AR processors, are projected to advance the growth of the augmented reality market size.
China, India, and Japan are expected show a high growth in the augmented reality market owing to increased investments in AR devices and software. The high penetration of smartphones in the region has resulted in a high demand for applications using AR. Increasing adoption of AR in the automotive industry and retail industry is anticipated to drive the demand for the market in the U.S. and European regions including Germany and the UK.

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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.

Players in the augmented reality market include Blippar, Google, Inc., Upskill, Daqri, Magic Leap, PTC, Facebook, Inc., Samsung Electronics Co., Ltd., Apple, Inc., HTC Corporation, Qualcomm, and Microsoft Corporation. Strategies implemented by the players include mergers and acquisitions of smaller players and start-ups to gain a lead in the Market.

Browse key industry insights spread across 242 pages with 353 market data tables & 32 figures & charts from the report, “Augmented Reality Market Size By Component (Hardware [Smart Glasses, Head-Mounted Display (HMD), Head-Up Display (HUD)], Software), By Application (Medical, Automotive, Aerospace & Defense, Gaming, Retail, Industrial), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, Japan, India, South Korea, Taiwan, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

Table of Contents (ToC) of the report:
Chapter 3 Augmented Reality Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2014 - 2024
3.3 Industry ecosystem analysis
3.4 Capital Investment
3.5 Notable Mergers & Acquisitions in the AR market
3.6 Technology & innovation landscape
3.6.1 Augmented Reality Earbuds
3.6.2 Smart Glasses for Blind People
3.6.3 Augmented Reality Helmet
3.7 Regulatory landscape
3.7.1 Digital Millennium Copyright Act (DMCA)
3.7.1 Communications Decency Act (CDA)
3.7.2 Child Online Protection Act (COPA)
3.7.3 Federal Trade Commission (FTC)
3.8 Industry impact forces
3.8.1 Growth drivers Emerging AR applications across e-commerce and retail Increasing investments in the AR technology Rising demand in medical and automotive industry Increasing adoption of AR enabled smart glasses
3.8.2 Industry pitfalls and challenges Privacy concerns pertaining to the AR technology Financial constraints and complexity
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 Competitive landscape, 2016
3.11.1 Strategic landscape
3.12 PESTEL analysis
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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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