Global Augmented Reality Market 2017-2021
About Augmented Reality
AR technology is used to blend digital content into the physical world. Computer-generated images of an individual's surroundings along with relevant information are displayed in a user’s field of vision. The technology enhances user experience through mobiles apps developed specifically for using AR. The concept of AR has existed for several decades, although it has just gain popularity. The technology has the capability to cater to all industries and fulfills the need to connect the real world with the virtual world.
Technavio’s analysts forecast the global augmented reality market to grow at a CAGR of 65.24% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global augmented reality market for 2017-2021. To calculate the market size, the report considers the revenue generated by vendors developing engines, software, and hardware for a device. The report also considers the revenue generated from the various sources such as paid AR apps, advertisements within AR apps, In-app purchases, revenue generated by AR vendors that develop mobile advertisements for third parties such as PepsiCo and Volkswagen, revenue generated by vendors developing AR apps for sectors such as healthcare, retail, real estate, and industrial and sale of HMDs and smart glasses.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Augmented Reality Market 2017-2021
Technavio recognizes the following companies as the key players in the global augmented reality market: Apple, Atheer Labs, Augmented Pixels, Aurasma, Blippar, Catchoom, Cinoptics, DAQRI, HTC, Meta, NGRAIN, Laster Technologies, Lumus, ODG, Optinvent, Qualcomm, Rockwell Collins, Sensics, Sieko Epson, Technical Illusions, Thales, Total Immersion, Vuzix, WeAR Studio, Wikitude, and Zappar.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is use of SLAM technology. Simultaneous localization and mapping (SLAM) is a popular and important autonomous mapping and navigation technology for mobile robotics. Though the technology has been around since the late 1980s, it is only now gaining traction in the market. It was first used in the eyes of NASA robots to create maps of unknown environments and position devices with extreme accuracy.”
According to the report, one of the major drivers for this market is increasing dependence on apps and proliferation of AR apps for numerous activities. A mobile app is a software developed for use in small-sized wireless computing devices such as smartphones and tablets. The large-scale adoption of smartphones globally has increased the use of AR apps. People have become dependent on apps as they make life simple.
Further, the report states that one of the major factors hindering the growth of this market is lack of AR content. There are a large number of AR apps available in the market. These apps are developed mostly by individuals and companies. However, the majority of these apps fail to meet user expectations and become a success, thereby reducing the growth potential and acceptance of AR among consumers. The majority of the apps fail to meet customers' expectations because they lack content and do not have the feature of adding new or additional content.
Apple, Atheer Labs, Augmented Pixels, Aurasma, Blippar, Catchoom, Cinoptics, DAQRI, HTC, Meta, NGRAIN, Laster Technologies, Lumus, ODG, Optinvent, Qualcomm, Rockwell Collins, Sensics, Sieko Epson, Technical Illusions, Thales, Total Immersion, Vuzix, WeAR Studio, Wikitude, Zappar.
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