The importance of AR in healthcare especially is projected to stimulate the progress of the augmented reality market 2020. The technology reports are produced by Market Research Future, which contains market alternatives for progress. A 39% CAGR is estimated to influence the market revenue to touch USD 30 billion in the forthcoming period.
The advancements achieved in augmented reality are finding increased applications in retail, consumer electronics, and automotive are predicted to amplify the options for growth in the Augmented Reality (AR). The fast-paced developments perceived in the adoption of digital media are likely to shape the augmented reality market in the impending period.
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The segmental investigation of the augmented reality market is based on the device type, technology, component, and vertical. Based on the components, the augmented reality market is divided into hardware and software. The hardware segment is further segmented into semiconductor components, 3D cameras, sensors, and displays. The software segment is additionally segmented into cloud-based software and software development kits. Based on the device types, the augmented reality market is segmented into head-up displays, head-mounted displays, and handheld devices. On the basis of technology, the augmented reality market is segmented into markerless and marker-based. While, based on the verticals, the augmented reality market is segmented into commercial, aerospace & defense, consumer electronics, medical, and others. Based on the regions, the augmented reality market is segmented into Asia Pacific, North America, Europe, and the rest of the regions in the market.
Detailed Regional Analysis
The regional assessment of the augmented reality market is carried out for regions such as Asia Pacific, North America, Europe, and the rest of the regions in the market. The study carried out shows that the Asia Pacific region is in the position to gain the controlling stake of the market, however, the regional market of augmented reality in North America is anticipated to propagate at the speediest rate in the course of the forecast period. The Asia Pacific’s augmented reality market progress is credited to technological advancements and improved implementation of mobile devices through numerous industry verticals. The regional Augmented Reality Market of Europe is estimated to rise at a stable rate in the forecast period.
The market state is attuned to the development of the contenders in the market. The presence of positive economic factors is estimated to guide the continual and fast-paced development of the market. The need to conserve and optimize the output of resources is estimated to guide the expansion of the international market in the upcoming period. The progress of the market in the future is estimated to be triggered by the investments being funneled into the market at present. The need to innovate the product offerings of individual contributors is predicted to give leverage to boost the overall income power of the market. The simplification of the market processes is estimated to create further situations that lead to an increase in the growth momentum of the market. The employment of analytical tools is estimated to spur the enhancement of the products being distributed at a global scale in the market, to meet the specific requirements of the user demographic in a particular region.
The central contenders operating in the augmented reality market are Catchoom Technologies (Spain), Zugara, Inc. (U.S.), Magic Leap Inc. (U.S.), Microsoft Corporation (U.S.), DAQRI (U.S.), Samsung Electronics Corporation Ltd. (South Korea), Blipper Inc. (U.K.), Qualcomm Technologies Inc. (U.S.), Infinity Augmented Reality Inc. (U.S.), Google Inc. (U.S.), METAIO’s SDK (Germany), Facebook, Inc. (U.S.), Sony Corporation (Japan), PTC Inc. (U.S.), Wikitude GmbH (Austria), Osterhout Design Group (U.S.), and Total Immersion (France) among others.
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