Recent research report, industry analysis and insights on "Augmented Reality (AR): Market Shares, Strategies, and Forecasts, Worldwide, 2016 to 2022"
Albany, NY -- (SBWIRE) -- 08/16/2017 -- MarketResearchReports.biz has announced the addition of a report, titled "Augmented Reality (AR): Market Shares, Strategies, and Forecasts, Worldwide, 2016 to 2022," to its large database. The report offers in-depth analysis of the trends and opportunities in the global augmented reality market. The report lists all the key players in the market and also provides insights into their business strategies and latest developments.
The global augmented reality (AR) market is estimated to follow along a notable growth trajectory over the coming years, thanks to the proliferation of smartphone apps, glasses, and headsets that act as a platform to project digital information. The market is poised to rise to a valuation of US$80.8 bn by the end of 2022 from US$2.6 bn in 2016, expanding at a phenomenal CAGR of over 77% therein. The widening scope of applications of AR across several industries, including medical, manufacturing, automotive, game, and retail, is one of the primary growth stimulants of the global AR market. Games such as Pokemon Go heightened awareness and expectation for AR vision and digital enhancement.
The market holds immense potential and is expected to enter trillion dollar arenas soon. AR technology is still in the initial stages of development and is attracting sizeable investments, which are contributing to the growth of the industry. AR is likely to emerge as an indispensable part of businesses worldwide. The global AR market is anticipated to benefit from the incessant developments in the Internet of Things (IoT) industry. Digital images are becoming as much a part of reality as tangible things. The growth of the market is expected to further escalate with the implementation of step-by-step procedure virtual reality modules for managing systems.
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AR provides explanations and predictions through digital enhancement. Google is the torch bearer in the field. It introduced Google glass, which failed; however, all players in the market are able to reap the benefits of the foundation laid by Google Glass. AR headsets and glasses are used in various applications such as logistics, manufacturing, retail, remote service, education, and medical. One of the popular AR applications is offering 'see-what-I-see' functionality, which allows off-site specialists to give real-time expertise and guidance to troubleshoot a problem.
The leading players in the global AR market are Google, ODG, Wikitude, Sony, Seiko Epson, Infinity Augmented Reality, PTC, Total Immersion, Microsoft, Daqri, Atheer, Niantic, Vuzix, and Blippar. Some other prominent companies operating in the market are IBM Watson Augmented Reality, Metaio SDK, Essence, Magic Leap, SAP, Merrick & Company, Samsung, Pristine, Intel / Recon Instruments, Sigma-Aldrich, General Electric, Apple Augmented Reality (AR), ACEP / Try Live, Facebook / Oculus, Shenzhen Vigor Electronic Co., Yahoo / Mavens, Qualcomm, HTC, and HP Autonomy.
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