The Augmented Reality (AR) Market size is expected to reach USD 100.24 billion by 2024. The AR market is expected to witness a substantial growth owing to advances in hardware technologies and sophisticated mobile software. Emerging trends such as mounting convergence between wearable devices, AR, and Internet of Things (IoT) are anticipated to drive demand. The convergence amongst these technologies is expected to provide more interactive and immersive user experience.
AR has been used efficiently in marketing and PR initiatives for television, motion picture and other media promotional campaigns. Hence, growing adoption of AR technology by the entertainment sector is projected to drive the market over the forecast period.
The head-mounted display (HMD) segment is anticipated to dominate the market growing at a CAGR of nearly 70%from 2016 to 2024. It can be attributed to the increasing scope of applications across the military, medicine, scientific visualization, manufacturing, education, training, navigation, and entertainment. The other factors driving demand include better content connectivity, enhanced user-experience and improved Field of View (FOV).
The adoption of smart glasses is expected to increase significantly in the consumer segment. Several companies are developing advanced smart glasses which are more user-friendly, light weight and offer better FOV.
Automotive sectors expected to grow at CAGR of over 70% over the forecast period. Virtual technologies are increasingly used in automotive in response to the rising number of model and equipment variants in the vehicle design and development process. For instance, Volkswagen used spatial AR to put across virtual data onto the actual vehicle design models that allow the analyses of components. As a result, it saves time and cost required for product development.
- Acep TryLive
- Blippar.Com Ltd.
- Daqri LLC
- Google Inc.
- Infinity Augmented Reality Inc.
- Magic Leap, Inc.
- Microsoft Corp.
- Osterhout Design Group
- Qualcomm Inc.
- Samsung Electronics Co., Ltd.
- Sony Corp
- Total Immersion
- Wikitude GmbH
Key Topics Covered:
1. Methodology and Scope
2. Executive Summary
3. AR Industry Outlook
4. AR Component Outlook
5. AR Display Outlook
6. AR Application Outlook
7. AR Regional Outlook
8. Competitive Landscape
For more information visit http://www.researchandmarkets.com/research/fbbmck/augmented_reality
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SOURCE Research and Markets