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Augmented Reality Market by Offering, and Software, Device Type, Application and Geography - Global forecast to 2023

Augmented Reality Market: Global forecast until 2023

  • July 2017
  • 155 pages
  • ID: 5026084
In this report:
The head-mounted display devices registered the largest shipment of ##.## thousand units in 2016 and is expected to reach ##,##.## thousand units by 2023, posting the highest CAGR of ##.##% between 2017 and 2023.
The head-up displays segment registered a shipment of ##.## thousand units in 2017 and is expected to reach ##,##.## thousand units by 2023, posting a CAGR of ##.##% between 2017 and 2023.


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"Growing demand for AR in retail and e-commerce is the main driver for the augmented reality market"

The augmented reality market was estimated at ~$2.4B in 2016 and is forecasted to reach ~$61.4B by 2023, increasing at a compound annual growth rate (CAGR) of 55.71% during the forecast horizon. The growing demand for AR devices and applications in medical, rise in demand for AR in the retail and e-commerce, and growing investment in the augmented reality market are the main drivers for the augmented reality market. The limited UI affecting the navigation performance of augmented reality applications, limited processing power, less storage, and restricted size of the memory card in mobile phones, and varied infrastructure quality of digital network will restrain the rise of AR.

"Augmented reality market for the head mounted displays is anticipated to grow at an important rate during the outlook period"

Head-mounted displays allow a user to wear the display device on the head and place images of the real and virtual environments over the user's view. The original HMDs were created primarily for military applications to help soldiers acquire their targets and track enemy movements easily. With advancements in computing, AR-enabled devices would be used for applications in client, commercial, and enterprise. Consumer applications including gaming, sports, and entertainment would boost the augmented reality market for head-mounted displays. The use of head-mounted displays in the aerospace and defense market benefits pilots of helicopters and captains of ships in the air force and navy to target and view enemy's operations with a greater ease. The use of head-mounted displays in applications including e-commerce and marketing would boost the AR market for HMDs.

"Augmented reality market for enterprise application is anticipated to witness high increase during the estimate period"

Augmented reality is used in companies for training personnel, providing information about the industrial facility, remodeling and redesigning, and industrial simulations. The use of the Internet and smartphones combined with digital content, including augmented reality, has helped boost the sector. The use of HMDs in manufacturing setups is the main driver for the rise of enterprise application in the augmented reality market.

"Asia-Pac is anticipated to witness high increase during the outlook period."

The consumer electronics, enterprise, retail, Banking, Financial services and Insurance (BFSI), healthcare, transportation, and sports and entertainment industries are anticipated to contribute substantially to the rise of the AR market in Asia-Pacific. These markets offer huge potential for the AR market as a result of the rising awareness among consumers and the increasing adoption of new technologies in several industries-especially in countries including China, India (IN), and South Korea (KR). The strong government support in countries including China (CN) and India (IN) to thrive on industrial automation is also boosting the increase of the augmented reality market in Asia-Pac.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions have been managed with main experts in the augmented reality sector. The breakup of the profiles of primary members taking part has been shown below:

• By Company category: Tier 1-35.0 percent, Tier 2-45.0 percent, and Tier 3-20.0 percent

• By Description: C-Level Executives-35%, Directors-25%, and Others-40%

• By Area: North America-45%, Europe-20%, APAC-30%, and RoW-5%

The report also profiles the top actors in the augmented reality market. These main actors are Google, Incorporated, PTC Inc., Microsoft (NASDAQ:MSFT), Wikitude GmbH, DAQRI LLC, Zugara, Incorporated, Blippar, Magic Leap, Incorporated, and Osterhout Design Group.

Segment Research

This research classifies the augmented reality market based on technology, category, device type, offering, application, and area. The study also considers main drivers, industry restraints, opportunities, and possibilities for the industry.

Reasons to Buy the Report

The analysis would benefit competitors/new sector entrants in this sector in these ways:

1. This document breaks down the augmented reality market comprehensively and offers the closest industry size estimation for main sectors across several areas.

2. The market research would benefit partners distinguish the pulse of the sector and offer them with the info on drivers, market restraints, opportunities, and alternatives for the sector.

3. This industry report would benefit partners comprehend their players better and acquire additional insights to enhance their rank in the business sector. The competitive outlook section includes competitor landscape, launches of new product and advancements, alliances, fund raising, and acquisitions.

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