The World Market for Augmented Reality (AR) 2019-2024: Monitor-Based Technology, Mobile Augmented Reality, Near-Eye-Based Technology
DUBLIN, Jan. 22, 2020 /PRNewswire/ -- The "Augmented Reality Market by Offering (Hardware (Sensor, Displays & Projectors, Cameras), Software), Device Type (Head-mounted, Head-up), Application (Enterprise, Consumer, Commercial, Healthcare, Automotive), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global augmented reality market size is estimated to grow from USD 10.7 billion in 2019 and projected to reach USD 72.7 billion by 2024; it is expected to grow at a CAGR of 46.6% from 2019 to 2024.
This report covers the augmented reality market based on device type, offering, application, and geography. A detailed analysis of the key industry players has been undertaken to provide insights into their business, products and services, and key strategies such as product launches, product developments, partnerships, contracts, agreements, mergers and acquisitions, collaborations, and expansions associated with the augmented reality market.
Increase in adoption of smart glass in the healthcare sector is the major factor driving the growth of augmented reality market
The most significant factor driving the growth of this market is the increase in the adoption of AR devices in the healthcare sector. AR devices are aiding surgeons to visualize joints, muscles, and internal organs without slicing the body. This enables surgeons to determine precisely where to make injections and incisions and further assisting in utilizing all the data collected during medical emergencies. Real-time data regarding a patient's health is the major factor promoting the adoption of AR technology in the healthcare sector.
The software market for augmented reality market is capturing the largest share during the forecast period
Increasing penetration of AR software solutions and their compatibility with existing hardware devices is expected to help the growth of the market for software, thereby driving the augmented reality market during the forecast period. AR technology is anticipated to continue its growth in the software segment through the emergence of various nestling projects that will evolve into large-scale productions. Recently, numerous companies have experimented with augmented reality prototypes. For instance, companies such as IKEA and Walmart have already launched AR prototypes to enhance the shopping experiences of their customers. Thus, the software segment is set to grow because of the high growth of the number of apps and platforms in the AR space.
Consumers to hold a major share of the augmented reality application market during the forecast period.
The consumer application held the largest share in the AR market in 2018 and is expected to dominate the market during the forecast period. The consumer sector includes gaming and entertainment applications in which AR is used for creating 3D visual objects in the real world. The high growth of the gaming & entertainment sector boosts the growth of the AR market for consumer applications.
Augmented reality market in APAC expected to grow at the highest CAGR during the forecast period
The market in Asia Pacific includes 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 technological advancements. Due to the presence of most of the display panel manufacturers in the region such as Samsung, LG Display, BOE Technology, AU Optronics, and Japan Display, APAC witnesses increased the adoption of the latest technologies.
The consumer electronics; retail; banking, financial services, and insurance (BFSI); healthcare; transportation; and sports & entertainment industries are expected to contribute substantially to the growth of the AR market in APAC. These industries offer huge potential for the AR market because of the increasing awareness among consumers and the rising adoption of new technologies in various industries - especially in countries such as China, India, and South Korea.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Augmented Reality Market
4.2 Market in APAC, By Application and Country
4.3 Market: Developed vs Developing Markets, 2018 and 2024 (USD Million)
4.4 Market: Major Countries
4.5 Market: Major Applications
5 Market Overview
5.1 Introduction
5.2 History and Evolution of Augmented Reality Technology
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Demand for AR Devices and Applications in Healthcare
5.3.1.2 Growing Demand for AR in Retail and E-Commerce Sectors
5.3.1.3 Rising Investments in Augmented Reality Market
5.3.2 Restraints
5.3.2.1 Security and Privacy Issues Associated With Augmented Reality
5.3.2.2 Excessive Usage of Augmented Reality Can Incur Health Issues
5.3.3 Opportunities
5.3.3.1 Partnerships Between Telecom Players and AR Manufacturers to Reduce Latency to Imperceptible Levels
5.3.3.2 Increasing Demand for Augmented Reality in Architecture
5.3.3.3 Opportunities in Enterprise Applications
5.3.3.4 High Growth of Travel & Tourism Industry
5.3.4 Challenges
5.3.4.1 Display Latency and Limited Field of View
5.3.4.2 Overcoming Social Challenges to Increase Adoption Rate
5.3.4.3 Reconfiguration of Applications for Different Platforms
5.4 Web AR
5.5 Augmented Reality is Gaining Momentum for Rugged Display Applications
5.6 Augmented Reality Technologies
5.6.1 Monitor-Based Technology
5.6.2 Mobile Augmented Reality
5.6.3 Near-Eye-Based Technology
5.7 Value Chain Analysis
6 Augmented Reality Market, By Offering
6.1 Introduction
6.2 Augmented Reality (AR), By Hardware Component
6.2.1 Sensors
6.2.1.1 Sensors are Widely Used in AR Devices for Detecting Motion, Velocity, Magnetic Field, and Object Presence
6.2.1.1.1 Accelerometers
6.2.1.1.2 Gyroscopes
6.2.1.1.3 Magnetometers
6.2.1.1.4 Proximity Sensors
6.2.2 Semiconductor Components
6.2.2.1 Controller is the Most Important Component of AR Devices
6.2.2.1.1 Controllers/Processors
6.2.2.1.2 Integrated Circuits
6.2.3 Displays & Projectors
6.2.3.1 Displays & Projectors Hold the Major Share of Augmented Reality Market
6.2.4 Position Trackers
6.2.4.1 Position Trackers are Used to Maintain Accuracy in Augmented Reality Devices
6.2.5 Cameras
6.2.5.1 Cameras are Crucial Components to Measure Depth and Amplitude of Objects
6.2.6 Others
6.2.6.1 Other Components Include Computers/Video Generators and Combiners
6.3 AR Market, By Software
6.3.1 Software Development Kits
6.3.1.1 Sdks are Used for Deploying AR Solutions for Specific Requirements and Frameworks
6.3.2 Cloud-Based Services
6.3.2.1 Emergence of Mobile Devices With AR Capabilities Drives the Need for Cloud-Based AR Services
6.3.3 Software Functions
6.3.3.1 Workflow Optimization and Remote Collaboration are the Most Trending Solutions of Augmented Reality
6.3.3.1.1 Remote Collaboration
6.3.3.1.2 Workflow Optimization
6.3.3.1.3 Documentation
6.3.3.1.4 Visualization
6.3.3.1.5 3D Modeling
6.3.3.1.6 Navigation
7 Augmented Reality Market, By Device Type
7.1 Introduction
7.2 Augmented Reality Devices
7.2.1 Head-Mounted Displays
7.2.1.1 AR Smart Glasses
7.2.1.1.1 AR Smart Glasses are Widely Adopted Across Companies to Improve Work Efficiency
7.2.1.2 Smart Helmets
7.2.1.2.1 Smart Helmets are Widely Adopted in Construction Sector to Optimize Workflow
7.2.2 Head-Up Displays
7.2.2.1 Head-Up Display Devices are Anticipated to Commercialize in 2020
8 Augmented Reality Market, By Type
8.1 Introduction
8.2 Marker-Based Augmented Reality
8.2.1 Passive Marker
8.2.1.1 Passive Marker is Most Widely Used Marker-Based Augmented Reality
8.2.2 Active Marker
8.2.2.1 Active Marker Uses Led to Track Objects
8.3 Marker-Less Augmented Reality
8.3.1 Model-Based Tracking
8.3.1.1 Model-Based Tracking Depends on Camera Movement
8.3.2 Image Processing-Based Tracking
8.3.2.1 Image Processing-Based Tracking Deploys an Optical Scanner Or A Camera for Image Processing
8.4 Anchor-Based
8.4.1 Google Arcore Deploys Anchor-Based AR to Overlay Virtual Images in Real Space
9 Augmented Reality Market, By Application
9.1 Introduction
9.2 Applications of Augmented Reality
9.2.1 Consumer
9.2.1.1 Gaming
9.2.1.1.1 Augmented Reality Enhances Interactivity in Gaming and Provides A More Immersive Experience to Gamers
9.2.1.2 Sports & Entertainment
9.2.1.2.1 Entertainment Applications
9.2.1.2.1.1 Museums (Archaeology)
9.2.1.2.1.1.1 Augmented Reality Enhances the Viewing Experience of Visitors in Archeological Monuments and Museums
9.2.1.2.1.2 Theme Parks
9.2.1.2.1.2.1 Augmented Reality Enhances the Interactivity of Theme Parks
9.2.1.2.1.3 Art Galleries and Exhibitions
9.2.1.2.1.3.1 Augmented Reality Enhances Artistic Visualization and Provides Immersive Experience to Visitors
9.2.2 Commercial
9.2.2.1 Retail & E-Commerce
9.2.2.1.1 Jewelry
9.2.2.1.1.1 Augmented Reality Enables Consumers to Try Before They Buy and Improvise Consumer Buying Experience
9.2.2.1.2 Beauty and Cosmetics
9.2.2.1.2.1 Virtual Testing of Cosmetic Products is the Key Driver for Market in Beauty and Cosmetics
9.2.2.1.3 Apparel Fitting
9.2.2.1.3.1 Virtual Trial Room is Gaining Consumer Attention
9.2.2.1.4 Grocery Shopping
9.2.2.1.4.1 Augmented Reality Provides Personalized Product Tips in Grocery Application
9.2.2.1.5 Footwear
9.2.2.1.5.1 Virtual Try Before You Buy Feature Drives Growth of Market in Footwear
9.2.2.1.6 Furniture & Lighting Design
9.2.2.1.6.1 Reduced Product Exchange Rate Through Augmented Reality Drives the Growth of Market in Furniture & Lighting Design
9.2.3 Travel & Tourism
9.2.3.1 Augmented Reality Plays A Crucial Role in Enhancing Traveling Experience
9.2.4 E-Learning
9.2.4.1 Augmented Reality Increases Student's Interaction and Enhances Learning Experience
9.2.5 Enterprise
9.2.5.1 Augmented Reality Aids Enterprises in Providing Better Training By Visualizing Content
9.2.6 Healthcare
9.2.6.1 Surgery
9.2.6.1.1 Augmented Healthcare Apps Can Help Save Lives and Treat Patients Seamlessly Irrespective of Severity of Issue
9.2.6.2 Fitness Management
9.2.6.2.1 Augmented Reality Adds Interactivity and Fun to Workouts
9.2.6.3 Patient Care Management
9.2.6.3.1 Remote Consulting Feature Drives Growth of Augmented Reality for Patient Care Management
9.2.6.4 Pharmacy Management
9.2.6.4.1 Better Scheduling Flow of Medicine Requirement Drives Growth of Augmented Reality in Pharmacy Management
9.2.6.5 Medical Training and Education
9.2.6.5.1 Augmented Reality Enriches Learning Experience and Amplifies Interactivity
9.2.6.6 Others
9.2.6.6.1 AR Helps Radiologists to Perceive 3D Image Data More Precisely for Interventional and Diagnostic Radiology
9.2.7 Aerospace & Defense
9.2.7.1 AR is Being Used to Gain Competitive Advantage Over Enemies
9.2.8 Energy
9.2.8.1 Growing Need to Improve Safety in Oil & Gas Sector Drives Market in Energy
9.2.9 Automotive
9.2.9.1 Emergence of Adas Drives Demand for Ar-Based Hud Technology
9.2.10 Others
9.2.10.1 Agriculture
9.2.10.1.1 Augmented Reality Assists Farmers in Implementing New Techniques With Better Learning Experience
9.2.10.2 Construction
9.2.10.2.1 3D Models Required for Construction Projects Can Be Better Illustrated With Augmented Reality
9.2.10.3 Transportation & Logistics
9.2.10.3.1 AR Technology is Widely Adopted in Transportation & Logistics Sector to Document Trading Activities
9.2.10.4 Public Safety
9.2.10.4.1 Augmented Reality-Based 3D Maps Aid Police Personnel to Enhance Public Safety
9.2.10.5 Telecom/IT Data Centers
9.2.10.5.1 Requirement of Advanced Network Infrastructure in Telecom/It Data Centers Would Help Drive AR Software Market for This Vertical
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Rest of the World
11 Competitive Landscape
11.1 Introduction
11.2 Competitive Scenario
11.2.1 Product Launches & Developments
11.2.2 Partnerships
11.2.3 Agreements & Collaborations
11.2.4 Acquisitions and Expansions
11.3 Competitive Leadership Mapping, 2018
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.4 Strength of Product Portfolio
11.5 Business Strategy Excellence
12 Company Profiles
12.1 Introduction
12.2 Key Players
12.2.1 Google, Inc.
12.2.2 PTC, Inc.
12.2.3 Microsoft Corporation
12.2.4 Seiko Epson
12.2.5 Lenovo
12.2.6 Wikitude GmbH
12.2.7 Vuzix
12.2.8 Daqri LLC
12.2.9 Magic Leap, Inc.
12.2.10 Zugara, Inc.
12.2.11 Blippar
12.2.12 Upskill
12.2.13 Maxst
12.3 Right to Win
12.4 Other Key Players
12.4.1 Atheer, Inc.
12.4.2 Pristine, Inc.
12.4.3 Marxent Labs, LLC
12.4.4 Inglobe Technologies
12.4.5 Meta Company
12.4.6 Augment
12.4.7 Niantic
12.4.8 Sixense Entertainment
12.4.9 Intel Corporation
12.4.10 Apple Inc.
12.4.11 Infinity Augmented Reality, Inc.
12.4.12 Facebook Corporation
12.4.13 Samsung Electronics Co. Ltd.
12.4.14 Realwear
12.4.15 Dynabook Americas, Inc.
12.4.16 Optinvent
12.4.17 Wayray
12.4.18 Scope AR
12.4.19 Continental
12.4.20 Visteon Corporation
12.4.21 Eon Reality
For more information about this report visit https://www.researchandmarkets.com/r/binrb1
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article