Harrisburg, NC -- (SBWire) -- 02/08/2019 --Global Augmented Reality Market - Segmented by Component type (Hardware and Software), by Application (Medical & Healthcare, Automotive, Aerospace & Defense, Gaming, Retail, and Industrial), and Geography - Growth, Trends, and Forecasts (2018 - 2023):
In 2017, the augmented reality market was valued at USD 5.85 billion and is projected to reach a value of USD 70.01 billion by 2023, registering a CAGR of 51.24%, during 2018-2023 (the forecast period). The scope of this report is limited to the solutions that are offered by the major market players, including providers of hardware and software. The technology segment discussed in the report is limited to head-mounted display, heads-up display, virtual retinal display, and spatial augmented reality systems. While the regions considered in the scope of the report include North America, Europe, Asia-Pacific, and Rest of the World. Also, the study emphasizes on various attack points in augmented reality technological innovations, new developments in the usage, and augmented reality investments.
These stakeholders include Augmented Reality Market are GOOGLE, MICROSOFT, FACEBOOK, SAMSUNG, APPLE, QUALCOMM VUFORIA, METAIO SDK, TOTAL IMMERSION, SPHERO, SONY, POPAR, NINTENDO, LAYAR, AURASMA, DAQRI, ZAPPAR, APPSHAKER, GRAVITYJACK, MARXENT, BLIPPAR
Avail sample report of this research with List of Figures at:
https://www.marketinsightsreports.com/reports/0220247274/global-augmented-reality-market-segmented-by-component-type-hardware-and-software-by-application-medical-healthcare-automotive-aerospace-defense-gaming-retail-and-industrial-and-geography-growth-trends-and-forecasts-2018-2023/inquiry?source=releasewire&Mode=34
United States to Witness a High Adoption Rate for the Augmented Reality
The United States is expected to be one of the fastest growing market in the world for AR in the near future. Most of the companies advancing in this technology are based in the United States. About 64% of the consumers from the country believe in the positive changes by the adoption of AR in workplace. Leading players, like Microsoft and Magic Leap, are actively working on this technology, using the United States as their base. This factor is likely to influence the growth of the technology in the country over the forecast period. Also, the United States is one of the most technologically advanced countries in the world. High technology exposure and ease of availability of smart devices have created a strong market in the region. Microsoft AR product, Hololens, was first released in the United States and Canada, and has received positive response from the consumers in the country.
Ability of AI to Improve Medicine and Healthcare Facilities
With the proliferating social media culture, the market for augmented reality is expected to witness a robust growth over the next few years. This growth can be attributed to the fact that major players in the social media market are collaborating with leading tech companies, to provide an unmatched physical experience for consumers and essentially tapping a potentially untapped market. Combining the capabilities of GPS, augmented reality and highly focused cameras are set to transform the gaming experience for smart device owners, which will propel the growth of the market in the commercial and retail spaces.
Medical & Healthcare Expected to Witness High Growth in terms Augmented Reality
The medical field is expected to be highly influenced by the application of augmented reality. It is already in use for practical purposes, and the technology is further expected to play an important role in the future of medicine. Google Glass and VIPAAR, a virtual AR app, were used to perform surgery, indicating the AR's potential applications and the scope for its successful adoption in the field of healthcare. The capabilities of AR technology can allow surgeries to be simplified, offering a safe environment and experience to patients. It may reduce the chances of medical problems, arising after a surgery is performed. Apart from Google Glass, a number of devices are being made to be used in the medical field. Doctors have been using a skin cancer app that can calculate the impact of moles with real-time vision and, further, receive feedback. Blood infusion instruments, like glasses and devices, are being used to locate veins, allowing for blood work to be performed quickly and IVs inserted without ever worrying about missing a vein. Augmented reality is embedded with immense technological features, which could play a vital role in redefining the healthcare industry, and hence the sector is expected to be one of the major benefactors of the market growth.
Notable Developments in the Market
- January 2018: Google introduced a new Google expeditions, which provides augmented reality to schools and enables better understanding and learning experience for the students. Also, it is being used to visualize 3D landscapes, world landmarks, etc.
- December 2017: Pokemon Go, a game that uses AR for the gameplay, released an update, which used Apple augmented reality tech for the functioning.
Avail complete report of this research with TOC and List of Figures at:
https://www.marketinsightsreports.com/reports/0220247274/global-augmented-reality-market-segmented-by-component-type-hardware-and-software-by-application-medical-healthcare-automotive-aerospace-defense-gaming-retail-and-industrial-and-geography-growth-trends-and-forecasts-2018-2023?source=releasewire&Mode=34
About MarketInsightsReports
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
CONTACT US:
Irfan Tamboli (Head of Sales) - Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
Augmented Reality Market 2019 Precise Outlook (CAGR 51.24%) - GOOGLE, MICROSOFT, FACEBOOK, SAMSUNG, APPLE, QUALCOMM VUFORIA