The Augmented Reality Market – Growth, Trends, and Forecasts (2020 – 2025), offers an in-depth evaluation of each crucial aspect of the Global Augmented Reality industry that relates to market size, share, revenue, demand, sales volume, and development in the market. The report analyzes the Augmented Reality market over the values, historical pricing structure, and volume trends that make it easy to predict growth momentum and precisely estimate forthcoming opportunities in the Augmented Reality Market. The report explores the current outlook in global and key regions (North America, Europe, Asia-Pacific, and Latin America) from the perspective of players, countries (U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc.), product types, and end industries.
The global augmented reality market was valued at USD 0.882 billion in 2019 and is expected to register a CAGR of 151.93% over the forecast period (2019-2024).
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Global Major Players in Augmented Reality Market are:
Google LLC (Alphabet Inc.), Seiko Epson Corporation, Vuzix Corporation, Osterhout Design Group (ODG), Realwear Inc., Toshiba Corporation, Daqri LLC, Meta Company, Optinvent S.A., Atheer Inc., Blippar.com Limited, Vuforia (PTC Inc.), Leap Motion Inc., Wikitude GmbH, Infinity Augmented Reality Inc., and Other.
Key Market Trends:
Hardware Segment to Witness Significant Growth
Most of the companies, like Daqri, Meta, ODG, Vuzix, Optivent, etc., made AR headsets with a focus on enterprise applications for their devices. However, social media giant, Snapchat, which introduced AR to mobile phones through its social media platform, also launched its first version of AR glasses, V1, in 2016. The company was only able to sell about 150,000 pairs and registered a USD 40 million write-off on the hardware business, after ordering 800,00 pairs from a Chinese supplier.
AR devices available currently in the market have controlling systems embedded in the head-mounted devices or as a separate accessory. However, notable developments in the AR glasses, like gesture-controlled and voice assistant-controlled AR devices were launched in 2017.
Lucyd was created by an IP investment firm, Tekcapital, which is developing ergonomic AR glasses based on 13 disruptive AR patents. The Lucyd Lens smart glasses are built on an in-house decentralized blockchain called Lucyd Lab AR, which is powered by the LCD token, which organically drives content creation.
Through this design, the company aims to use community-driven content development to create the AR-driven blockchain with mass appeal. The company plans to introduce the blockchain-based AR smart glasses named Lucyd Lens in Q1 2019.
Going forward, such innovations in hardware, in terms of ergonomics, i.e., reduced size and weight, and making headsets look more like traditional eyewear, are likely to increase the acceptance of AR devices by consumers, in addition to the enterprise users.
North America Region to Witness Significant Growth
The North American segment of the market studied is expected to grow significantly over the forecast period, owing to the presence of a large number of vendors, who are also investing hugely in market innovation, coupled with the dominance of the United States in the global software market. Globally, the United States is expected to be one of the highly innovative AR markets. Most of the companies advancing in this technology are based in the United States. About 64% of the consumers from the country believe in the positive changes resulting due to the adoption of AR in the workplace. Leading players, like Magic Leap and Microsoft, are actively working on this technology.
Influence of the Augmented Reality Market report:
–Comprehensive assessment of all opportunities and risks in the Augmented Reality Market.
–Augmented Reality Market recent innovations and major events.
–A detailed study of business strategies for the growth of the Augmented Reality Market market-leading players.
–Conclusive study about the growth plot of Augmented Reality Market for forthcoming years.
–In-depth understanding of Augmented Reality Market, market-particular drivers, constraints, and major micro markets.
–Favorable impression inside vital technological and market latest trends striking the Augmented Reality Market.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Augmented Reality Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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