Augmented Reality Global Market Estimated To Perceive Accrued Value with a Staggering CAGR; MRFR Unleashes Industry Insights Up To 2023

Augmented Reality Global Market Estimated To Perceive Accrued Value with a Staggering CAGR; MRFR Unleashes Industry Insights Up To 2023

Pune, India, December, 2017/MRFR Press Release/- Market Research Future published a Half Cooked research report on “Global Augmented Reality Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023

Augmented Reality Global Market - Overview
Virtual Reality and Augmented Reality are often mentioned while discussing latest and future technologies. Both at present are used for games and entertainment purpose, however, both carries different characteristics. VR uses 360 degree video technology to take user from real to virtual environment whereas, augmented reality transforms the real environment by adding digital information to the user’s line of sight.

According to a recent study report published by the Market Research Future, The global market of Augmented Reality is increasing and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023). The Global Augmented Reality Market is driven by proliferation of IOT technology, increasing smartphone usage, rise in adoption of head-up displays by Tourism industry, developing ecommerce market growth among others. On the other hand, high cost of AR devices is one of the factors hindering the growth of Augmented Reality Market.

Social Media: Rising trend of Augmented Reality
The high adoption of augmented reality products such as smart glasses, and head-up displays by consumers, more brands are showing interest in incorporating technology. Recently, Apple has introduced AR in its new iOS 11 operating system and iPhone X.
With increasing active users on social media, the brands has increased their promotion and advertisement on social media platforms such as Facebook, Twitter, LinkedIn, You tube among others. To provide an interactive environment to their customers, companies are implementing augmented reality technology in their various promotional activities. For instance, brands like Estee Lauder has introduced AR into their advertisement and invites viewer to try out their different lipstick shades from their location itself by using Facebook messenger bot. Further, Apple has introduced an augmented reality app named “Tweet Reality” which allows users to interact with the Tweets by tapping them. This initiative by Apple has received positive response from user as well as advertiser.

Key Players:
Google, Inc. (U.S.), Microsoft Corporation (U.S.), PTC (U.S.), Wikitude GmbH (Austria), Daqri (U.S.), Zugara Inc. (U.S.), Blippar (Austria), Upskill (Vienna), Magic Leap (U.S.), Osterhout Design Group (U.S.), Infinity Augmented Reality, Inc. (Israel), Samsung Electronics Co. Ltd. (South Korea), Atheer, Inc. (U.S.), Apple, Inc. (U.S.), Facebook Inc. (U.S.), Scope AR (U.S.), Inglobe Technologies (Latina), Embitel Technologies (India), Seiko Epson Corporation (Japan), Marxent Labs LLC (U.S.), Catchoom Technologies (Spain), HTC corporation (Taiwan), Qualcomm (U.S.) and Rockwell Collins Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Augmented Reality Market.

Industry News
December 2017 – Vuzix Corporation announced its agreement with Toshiba in which it will provide its augmented reality smart glasses with mobile computing system to Toshiba for three years.
December 2017 – Quanta Computer, manufacturing partner of Apple, has announced a partnership with Lumus, an Israeli based augmented reality company, to manufacture lenses of smart glasses.
December 2017 – Apple, Inc. has announced to implement augmented reality into its new version of iPhone featuring functional apps to games.
May 2017 – Starbucks, a well-known coffee house, has introduced augmented reality app at new Shanghai Roastery. This app will allow users to visit a special web page offering a detailed map, and menus. Customers can also save their favourite products into their account.

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Augmented Reality Global Market - Segmentation
The Augmented Reality Market can be segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Technology : Monitor Based Technology and Near Eye Based Technology.
Segmentation by Product : Head-Mounted Display, Head-Up Display, and Handheld Device.
Segmentation by Component : Comprises hardware (Sensors, Displays & Projectors, Position Trackers, and Cameras) and Software.
Segmentation by Application : Commercial, Enterprise, Medical, Aerospace & Defence, Energy, Automotive, and Consumer Electronics.
Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Augmented Reality Global Market -

Regional Analysis

North America is a technically advanced economy which helps it to adopt new technology with an ease. Recently, in November 2017, Porsche, a leading German automobile manufacturer has announced to bring augmented reality to North American dealers. It has designed a technology tool called “Tech Live Look” to improve the technical services in U.S. market. Product innovation and high investment by market players has supported the region in generating highest revenue in augmented reality market in 2016 which is expected to grow over its previous growth records by 2023. Whereas, Augmented Reality Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2017 to 2023 due to emerging trend of using VR headsets for gaming and entertainment purpose in the region. The European market for Augmented Reality Market is expected to grow at a considerable CAGR (2017-2023).

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