Ocean View, Delaware, Jan. 12, 2017 (GLOBE NEWSWIRE) -- Global Augmented Reality Market size forecast to grow at 80.8% CAGR from 2016 to 2024 impelled by the rising demand in medical and automotive industry; according to a new research report by Global Market Insights, Inc.
Increasing adoption across the e-commerce and retail space will spur the global augmented reality industry demand over the forecast timeframe. The technology offers retailers the opportunity to enhance the overall shopping experience by bringing an image, product label or shopping window to life and greatly improves the degree of customer interaction with the products.
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Retail brands are gradually turning to AR platforms to increase customer satisfaction, driving the augmented reality market size. For instance, Wayfair introduced AR technology that allow users to place full-scale 3D virtual models of products in settings. It helps users select images of décor or furniture from product catalogs and uses smartphones to position the objects in their room walls, ceiling, or floor.
High demand from enterprises to bridge the physical and digital world is anticipated to fuel the augmented reality market growth. For instance, in 2015, DHL carried out a pilot project in the Netherlands wherein the company equipped the warehouse workers with AR-enabled smart glasses. The technology was implemented for ‘vision picking’ in warehouse operations.
Strong investment landscape will provide a fillip to the augmented reality market. For example, by 2016 over USD 1.6 billion had been invested in the development of display devices based on AR (augmented reality market) technology. Magic Leap, a company developing AR head mounted displays (HMDs) has raised over USD 1.4 billion from investors including Google and Qualcomm.
Browse key industry insights spread across 152 pages with 109 market data tables & 80 figures & charts from the report, “Augmented Reality Market Size By Component (Hardware, Software), By Display Device (Smart Glass, Head-Mounted Display, Head-Up Display), By Application (Medical, Automotive, Aerospace & Defense, Gaming, Retail, Industrial), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, Japan, India, South Korea, Taiwan, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/augmented-reality-ar-market
Key insights from the report include:
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(AR) Augmented reality market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2024, for the following segments:
Augmented Reality Market by component
Augmented Reality Market by display device
Augmented Reality Market by application
The above information is provided for augmented reality market on a regional and country basis for the following:
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