Dublin, Jan. 22, 2020 (GLOBE NEWSWIRE) -- 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 AR market was valued at USD 6.8 billion in 2018 and is expected to reach USD 72.7 billion by 2024; it is expected to grow at a CAGR of 46.6% between 2019 and 2024.
The increasing demand for AR devices and applications in healthcare, growing demand for AR in retail and e-commerce sectors, and rising investments in the AR market are the major drivers of the AR market. However, the security and privacy issues associated with augmented reality and health issues incurred due to excessive use of augmented reality devices are the major restraints for the market.
The market is expected to grow at a high CAGR due to the increased adoption of AR apps and software platforms. The AR apps would witness increased adoption in the enterprise as well as consumer applications. The AR market is currently growing owing to its software growth, but it is expected that the AR hardware market will boost the overall AR market in the next five years with high growth.
The company profiles section includes Google, PTC, Microsoft, Seiko Epson, Lenovo, Wikitude, Vuzix, DAQRI, Magic Leap, Zugara, Blippar, Upskill, and MAXST, among others.
Key Highlights
- Increase in adoption of smart glass in the healthcare sector is the major factor driving the growth of augmented reality market
- The software market for augmented reality market is capturing the largest share during the forecast period
- Consumers to hold a major share of the augmented reality application market during the forecast period
- Augmented reality market in APAC expected to grow at the highest CAGR during the forecast period
Research Coverage
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.
Reasons to Buy the Report
- Illustrative segmentation, analysis, and forecast pertaining to the augmented reality market based on device type, offering, application, and geography have been conducted to provide an overall view of the augmented reality industry.
- Major drivers, restraints, opportunities, and challenges for the augmented reality market have been detailed in this report.
- The report includes a detailed competitive landscape of the key players in the market and their ranking.
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
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