Global AR Market Is Expected to Reach USD 84.46 Billion by 2025 : Fior Markets

AR Market by Offering (Hardware & Software), Device Type (HMD, HUD, Handheld Device), Technology, Application, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

Newark, NJ, Feb. 28, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global AR market is expected to grow from USD 5.25 Billion in 2017 to USD 84.46 Billion by 2025 at a CAGR of 41.5% during the forecast period 2018-2025. Growing demand for AR devices in patient care management, medical training & education, preference of consumers over online shopping has increased which demands AR in retail and E-commerce and rising interest of Tech Giants in the AR Market are the factors fuelling the AR market.

Augmented reality is the process of intermixing the virtual and the real world by transforming the digital data into real-world analogue views. Augmented reality is all about connecting the real world we experience to the vast virtual world of information that collectively created on the Web. It is an interactive experience of a real-world environment where the objects that reside in the real-world are "augmented" by computer-generated perceptual information, sometimes across multiple sensory modalities, including visual, auditory, haptic, somatosensory, and olfactory.

Fondness of consumers over online shopping has amplified is a major factor driving the market. In addition, surge in need for AR devices in patient care management, and medical training and education further stimulates the demand for such systems. Rising interest of Tech Giants in the AR market is further propelling the growth of the market. However, Limited User Interface (UI) affecting navigation performance of AR applications may obstruct the growth of the market. Nevertheless, growth prospects in the enterprise industry with the rising trend of smart manufacturing may boost the market in forthcoming years.

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The major players in the global AR Market include Sony, Oculus, Samsung Electronics, HTC, Google, PTC, Microsoft, Wikitude, DAQRI, Zugara, Blippar, Osterhout Design Group, Magic Leap, Upskill, Continental, Visteon, Eon Reality, Vuzix, and MAXST among others. Google (US) holds the leading place in the augmented reality market. The organization has a strong product portfolio for market that allows the company to retain its leading position in the market.

Leaders are providing better opportunities and continuously focused on new product developments and venture capital investments to capture market share. For instance Sony is trying to influence its key position into success in augmented reality (AR) before others enter the market. The organization recently exhibited (October 2019) prototypes of AR headsets that is used for the Ghostbusters themed experience at Ginza Sony Park in Japan. If this product has to reach customers' hands then Sony definitely would be making a play to turn AR headsets into its next wearable platform. If this product succeeds, this could again be a disruptive tech stock.
For instance in May 2019, Google introduced AR to Search in 2019, and this is how it works: Compatible Android and iOS devices will see 3D object links in Search, which will bring up 3D models that can then be dropped into the real world at proper scale in AR.

The software segment is dominating the market with the highest share of 64.10% in 2017

The offering segment is divided into segments such as a hardware & software. The software segment is dominating the market valued around USD 3.36 Billion. The increasing use of software by blending the virtual and the real world to transforming the digital data into real-world analogue views is propelling the growth.

The markerless augmented reality segment valued around USD 3.13 billion in 2017

The technology segment includes marker-based augmented reality and markerless augmented reality. The markerless augmented reality segment is dominating the market with the highest share 59.80% in 2017. In some instances, we just need to display 3D augmented reality models, which we can do without a marker, so we call it “markerless AR. Imagine an AR application that can place virtual furniture inside your living room. This allows you to try different combinations of objects, styles and location.

The HUD segment held the market share of 49.60% in 2017

The device type segment is classified into HMD, HUD, and handheld device. The HUD segment held the market share of 49.60% in 2017. Head-mounted displays are the best devices to boost the growth of the AR market. Augmented reality smart glasses are leading the augmented reality market for head-mounted displays with their high demand for commercial, automotive, industrial, and healthcare applications

The consumer segment is dominating the market with the highest share 28.50% in 2017

The application segment includes enterprise, consumer, aerospace & defense, energy, commercial, healthcare and automotive. The consumer segment is dominating the market with the highest share 28.50% in 2017. The augmented reality market has witnessed a high growth and leads the market owing to its use in apps. The AR gaming apps have seen widespread adoption in the last 2 years and are expected to be the major drivers for the growth of the augmented reality market.

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Regional Segment Analysis of the AR Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific region dominated the global AR market with USD 2.09 Billion in 2017 where as the North America region is growing rapidly in the market. Asia Pacific is dominating region because of the increase in R&D in APAC and the growing acceptance of newer technologies in the region are the drivers for the AR market. The North America region is growing rapidly region because of technological advancement and rising consumer lifestyle.

About the report:

The global AR Market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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Global AR Market Is Expected to Reach USD 84.46 Billion by 2025 : Fior Markets

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