According to the new research report “Augmented Reality Market
by Offering (Hardware (Sensor, Displays & Projectors, Cameras), and
Software), Device Type (Head-Mounted, Head-Up, Handheld), Application
(Enterprise, Consumer, Commercial, Automotive) and Geography – Global
forecast to 2023″, the augmented reality market, the market is
expected to grow from USD 2.39 Billion in 2016 to USD 61.39 Billion by
2023, at a CAGR of 55.71% between 2017 and 2023.
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Browse 66 Market Data Tables and 35 Figures spread through 153 Pages and in-depth TOC on “Augmented Reality Market – Global forecast to 2023″
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The increasing demand for AR devices and applications in healthcare,
increase in demand for AR in the retail and e-commerce, and rising
investment in the augmented reality market are the major drivers for the
augmented reality market.
Head-up displays to witness high growth during the forecast period
Head-up displays (HUDs) for the augmentation of images are presently
used in automotive, and aerospace and defense sectors for training
purposes; the HUD market is still in the developing phase and is likely
to commercialize in the near future. The recent Consumer Electronics
Show (CES) 2017 has come up with enormous opportunities and variations
for head-up displays using the augmented reality. The head-up display
with AR was one of the most talked about innovations in the CES 2017.
Head-up displays would be used for navigation in airplanes and
automotives. The information such as the roadmap and the speed along
with the other necessary details in the line of sight would be displayed
at the windscreens and would help the driver drive safely. The use of
head-up displays in the applications such as automotive, and aerospace
and defense would help the market to grow at a higher rate.
Consumer application to lead the augmented reality market
The augmented reality technology offers remarkable results in terms
of visual effects when used in gaming and sports broadcasts. There are
some AR gaming applications in which players can create virtual objects
and characters and then link those digital creatures to defined
locations in the real world. Players can then easily interact with those
digital objects in the real world. The demand for software apps is high
in the consumer sector because all gaming applications are used in
devices such as smartphones and tablets to play the games. Even in the
entertainment application, the demand for the development of AR apps is
high to enhance the user experience in different areas such as sports
broadcasting, gathering information through social networking sites, and
so on. The use of head-mounted displays for gaming and entertainment
will also be a major boost to the augmented reality market.
APAC expected to hold a major share of the augmented reality market during the forecast period
Asia Pacific comprises China, Japan, India, South Korea, and Rest of
APAC. Being an emerging economy, Asia Pacific is witnessing major
changes in the adoption of new technologies and advancements. Due to the
presence of most of the display panel manufacturers in the region, APAC
witnesses an increasing adoption of latest technologies.
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Major players in the augmented reality market are Google, Inc. (US),
PTC Inc. (U.S.), Microsoft Corporation (US), Wikitude GmbH (Austria),
DAQRI LLC (US), Zugara, Inc. (US), Blippar (UK), Magic Leap, Inc. (US),
and Osterhout Design Group (US).
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