Augmented Reality Market to Register 60%+ CAGR to 2024 | Top Players: DAQRI, Google, Magic Leap, Microsoft, Nintendo, PTC, Qualcomm, Samsung Electronics, Sony Electronics

Germany augmented reality (AR) market is expected to grow at a fast pace over the forecast time span owing to increasing applications of the technology in the automobile industry.

SELBYVILLE, Del., Nov. 08, 2018 — (PRNewswire) —

SELBYVILLE, Del., Nov. 08, 2018 /PRNewswire-PRWeb/ -- Augmented Reality (AR) Market shipments in 2016 were over 1 lakh units and are predicted to grow at a whopping CAGR of 75% during the forecast period. Rapid adoption of the technology in aerospace & defense is expected to drive the augmented reality market growth. Companies are investing in leveraging the technology to improve manufacturing processes, reduce costs, and save time.

The hardware segment of the augmented reality market is expected to grow rapidly over the forecast time span. Common applications, such as gaming and retail, use AR applications on tablets and smartphones, not requiring a dedicated hardware device such as HMDs or smart glasses. However, enterprise uses of the technology such as designing, manufacturing, and quality check in aerospace & defense, industrial, automotive, and medical are increasingly investing in hardware such as HMDs and smart glasses.

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HMDs are expected to grow at a significant rate over the forecast timespan, owing to increasing applications in the military & defense sector. In May 2014, U.S. military announced that the launch of ARC4, a system designed to equip the soldiers on the battlefield. The gadget attaches to military helmets and allows commanders to send maps and navigation information to soldier's field of vision. Such innovations are expected to propel the HMD demand and thus the augmented reality market growth.

Smart glasses are expected to grow at a fast rate owing to increasing applications in retail, gaming & entertainment, aerospace & defense, and industrial applications, propelling the augmented reality (AR) market growth. Companies are developing differentiated devices, such as voice-enabled smart glasses, to gain a competitive advantage.

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The Asia Pacific AR market is set to register healthy growth rate to 2024 as the industry in China is projected to grow substantially owing to the huge investments in manufacturing operations for developing latest technology devices like smart glasses. Presence of major players such as Seiko Epson Corporation and Samsung Electronics is expected to bode well for the industry in China, Japan, and South Korea.

Germany augmented reality market is expected to grow at a fast pace over the forecast time span owing to increasing applications of the technology in the automobile industry. In the race to develop driverless cars, manufacturers, such as Audi and BMW, are implementing the technology in automobiles to increase the level of self-driving capabilities. The manufacturers are also implementing the technology in manufacturing processes to improve the operational effectiveness.

Key players in the augmented reality (AR) market include Blippar, Google Inc., Microsoft Corporation, Upskill, DAQRI LLC, PTC, Qualcomm, Magic Leap, Wikitude GmbH, Samsung Electronics Co. Ltd., Apple Inc., Facebook Inc., HTC Corporation, and Marxent Labs, LLC. The players in the industry are investing in R&D to develop application-specific differentiated products. Several start-ups are emerging in the field to cater to specific user requirements.

Browse key industry insights spread across 242 pages with 353 market data tables & 32 figures & charts from the report, "Augmented Reality Market Size By Component (Hardware [Smart Glasses, Head-Mounted Display (HMD), Head-Up Display (HUD)], Software), 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, 2017 – 2024" in detail along with the table of contents:

Table of Contents (ToC) of the report:

Chapter 3    AR Industry Insights
3.1    Industry segmentation
3.2    Industry landscape, 2014 - 2024
3.3    Industry ecosystem analysis
3.4    Capital Investment
3.5    Notable Mergers & Acquisitions in the AR market
3.6    Technology & innovation landscape
3.6.1    Augmented Reality Earbuds
3.6.2    Smart Glasses for Blind People
3.6.3    Augmented Reality Helmet
3.7    Regulatory landscape
3.7.1    Digital Millennium Copyright Act (DMCA)
3.7.1    Communications Decency Act (CDA)
3.7.2    Child Online Protection Act (COPA)
3.7.3    Federal Trade Commission (FTC)
3.8    Industry impact forces
3.8.1    Growth drivers    Emerging AR applications across e-commerce and retail    Increasing investments in the AR technology    Rising demand in medical and automotive industry    Increasing adoption of AR enabled smart glasses
3.8.2    Industry pitfalls and challenges    Privacy concerns pertaining to the AR technology    Financial constraints and complexity
3.9    Growth potential analysis
3.10     Porter's analysis
3.11     Competitive landscape, 2016
3.11.1    Strategic landscape
3.12     PESTEL analysis
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