New York, According to a new market research report published by Global Insight Services “Augmented Reality Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Augmented reality (AR) is a technology that superimposes computer-generated images on a user’s view of the real world, providing a composite view. AR technology is used in a variety of applications, including navigation, gaming, and product visualization.
One of the most common applications of AR is in navigation. AR navigation systems superimpose turn-by-turn directions or other information on a user’s view of the road. This can be particularly helpful for drivers who are unfamiliar with an area.
AR is also used in gaming. In many games, players must find hidden objects or solve puzzles. AR games superimpose game elements on the real world, making the game more immersive and challenging.
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Key Trends
Over the past few years, the augmented reality market has seen significant growth and investment. This is largely due to the increasing adoption of AR technology by businesses and consumers alike. Here are some key trends that are driving the augmented reality market:
- Increasing adoption of AR technology by businesses: AR technology is being increasingly adopted by businesses across various industries for a variety of use cases such as product visualization, training and simulation, remote assistance, and marketing.
- Consumer interest in AR: There is a growing interest among consumers for AR experiences. This is evident from the popularity of AR games such as Pokemon GO. In addition, there is a growing demand for AR-enabled devices such as smart glasses and head-mounted displays.
Key Drivers
One of the major drivers of the augmented reality market is the increasing demand for enhanced user experience. AR technology is being increasingly used to provide enhanced user experience in various industry verticals such as retail, healthcare, automotive, and education. AR can provide an immersive experience to users by overlaying digital content on the real-world environment. This helps users to interact with the digital content in a more natural and intuitive way. Additionally, AR can also be used to provide contextual information to users, which can be very useful in various situations. For instance, AR can be used to provide directions to users in a mall or provide information about products to users in a retail store.
Market Segments
By Component
- Hardware
- Software
By Display
- Head-Mounted Display & Smart Glass
- Head-Up Display
- Handheld Devices
Key Players
- Microsoft
- Sony
- Samsung
- Oculus VR
- HTC
- Epson
- Lenovo
- Meta
- Daqri
- Atheer
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Reasons to buy Augmented Reality Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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