Augmented Reality Market Scope
Augmented reality (AR) is a live direct or indirect view of a physical, real-world environment whose elements are augmented (or supplemented) by computer-generated sensory input such as sound, video, graphics or GPS data. It is related to a more general concept called mediated reality, in which a view of reality is modified (possibly even diminished rather than augmented) by a computer.Global spending on augmented reality and virtual reality (AR/VR) is forecast to amount to 18.8 billion U.S. dollars in 2020, whilst the consumer VR hardware and software market alone is projected to increase to 5.1 billion U.S. dollars by 2023. The potential impacts of new technologies like VR are now more apparent, with forecasts suggesting VR will boost gross domestic product (GDP) worldwide by 450.5 billion U.S. dollars by 2030.
The Augmented Reality market study is segmented, by Application (Information Technology, Life Sciences, Industrial Manufacturing, Defence Security, Education, Retail & E-Commerce, Public Sector, Transportation & Logistics, Energy & Utility, Entertainment and Others) and major geographies with country level break-up.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time.
Google, Inc. (United States), PTC, Inc. (United States), Apple Inc. (United States), Microsoft Corporation (United States), Seiko Epson (Japan), Lenovo (China), Wikitude GmbH (Austria), Vuzix (United States), Daqri LLC (United States), Magic Leap, Inc.(United States), Zugara, Inc.(United States) and Blippar (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Maxst (South Korea), Atheer, Inc. (United States), Inglobe Technologies (Italy), Meta Company (United States), Sixense Entertainment (United States), Intel Corporation (United States), Infinity Augmented Reality, Inc. (Israel), Samsung Electronics (South Korea), Realwear (United States), Optinvent (France), WayRay (Switzerland), Scope AR (United States), Continental AG (Germany) and EON Reality (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Augmented Reality market by Type, Application and Region.
On the basis of geography, the market of Augmented Reality has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Stringent Worldwide Government Regulations Regarding Shutting Down the Production & Services Across Different Countries of the World to Avoid the Spread of COVID-19
- Rising Adoption in Defense & Government Sector Propelled by Rising in Military Expenditure
- Rising Number of Investments in Augmented Reality Technology Globally
- Growing Demand from Retail & E-Commerce Sector Owing to the Factors such as Growing Demand for Organised Warehouses
- Increasing Demand from the Sectors such as Manufacturing, Automotive, and Aerospace & Defense
- Opportunities in the Asia Pacific Region
- Industry 4.0 is One of the Major Factor Expected to Create Opportunities for the Vendors During the Forecast Period
- The Outbreak of COVID-19 Pandemic is one of the Major Restraints for the Market as Most of the Industries have been Facing Economic Crisis & Ongoing Developments have been Stopped Across the World for an Ambiguous Period of Time
- Security and Privacy Issues Associated With Augmented Reality
- Issues During Reconfiguration of Applications for Different Platforms
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Augmented Reality Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.