The augmented reality market was valued at USD 2.39 Billion in 2016 and is expected to reach USD 61.39 Billion by 2023, growing at a CAGR of 55.71% during the forecast period. The increasing demand for AR devices and applications in medical, increase in demand for AR in the retail and e-commerce, and rising investment in the augmented reality market are the major drivers for the augmented reality market.
This report covers the augmented reality market on the basis of technology, type, application, device type, hardware, software, and geography. The consumer application will lead the augmented reality market during the forecast period. The use of augmented reality in gaming and sports & entertainment will drive the augmented reality market for the consumer application. This is due to the increasing demand of AR in retail, e-commerce, and e-marketing applications.
The augmented reality software market would lead the overall AR market by 2023. This is owing to the increased use of smartphones, tablets, and other devices for the implementation of the augmented reality technology.
The head-mounted displays will hold a major share of the AR market. Head-mounted displays are the most promising devices to boost the growth of the augmented reality market. With advancements in computing, AR-enabled devices would be used for applications in consumer, commercial, and enterprise. The use of head-mounted displays in applications such as e-commerce and marketing would boost the AR market for HMDs.
APAC is expected to lead the AR market in terms of market size and is likely to witness the highest growth rate in the market by 2023. The increase in research and development in APAC and the growing acceptance of newer technologies in the region are the drivers for the AR market.
Infinity Augmented Reality Inc.
Magic Leap Inc.
Marxent Labs LLC
Osterhout Design Group
Samsung Electronics Co. Ltd.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Augmented Reality Market, By Type (Qualitative)
7 Augmented Reality Market, By Technology (Qualitative)