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Augmented Reality Market Expected to Expand at a CAGR of 60.9% by 2024


Global Augmented Reality Market Outlook 2017 to 2024 provides an in-depth analysis of the US appraisal market by value, by volume, by segments, by number of AMCs, appraiser’s tenure, etc. The report also gives an insight of the Canada addressable appraisal market opportunity.

On the basis of attributes such as company overview, recent developments, strategies adopted by the market leaders to ensure growth, sustainability, financial overview and recent developments.

This report provides a detailed analysis of the Augmented Reality market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.

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Essential points covered in Global Augmented Reality Market 2017 Research are:-

  • What will the market size and the growth rate be in 2024?
  • What are the key factors driving the global Augmented Reality market?
  • What are the key market trends impacting the growth of the global Augmented Reality market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global Augmented Reality market?
  • What are the market opportunities and threats faced by the vendors in the global Augmented Reality market?
  • What are the key outcomes of the five forces analysis of the global Augmented Reality market?

This independent 220 pages report guarantees you will remain better informed than your competition. With over 200 tables and figures examining the Augmented Reality market, the report gives you a visual, one-stop breakdown of the leading products, sub market and market leader’s market revenue forecasts as well as analysis to 2024.

Furthermore, the report provides a detailed analysis of the global Augmented Reality market with analysis of market size by value and volume. Along with this, an analysis of penetration rate and the average revenue generated per user (ARPU) in the market has also been done.The report also includes a detailed analysis of the global Augmented Reality market by countries, comprising of its market by value, volume, and ARPU and penetration rate.

Market Overview
Augment reality is not much different the virtual reality but, more connected to the real world with the combination of computer generated visualization and sensory inputs such as sound, graphics and video. With the increased popularity of the smart phones and its applications, major global firms like Microsoft, Samsung, Google and Apple have shown their interest in the development and release of augmented reality based products and services. Applications and games such as Pok�mon go which is well known by all age group and the devices to support augment reality like Microsoft HoloLens and Google glass having great attention although they are not in production. Rising penetration of smart phones and inclination towards the new technology for utility and entertainment showcases the huge growth opportunity for global augment reality market. Many industries are using this technology to demonstrate their products and services to enhance the customer service and experience. While in the aviation and military sector this technology is using as simulators for training purposes to provide real world experience. The AR technology is much cheaper than the VR as it doesn’t require any additional hardware like oculus and Google cardboards for the virtual reality experience.

Growth Drivers and Challenges
Growing penetration of smart phones and its importance in day-to-day life bolster the demand for technologies and services related to smart phones. Smart phones share the 86% of mobile market in 2016 globally. The games and utility apps based on VR and AR gained popularity in recent years which shows the potential growth of the augmented reality global market in nearby future. The huge investments on R&D of AR technology by huge tech giants such as Microsoft, Google and Apple on both hardware and software platforms is expected to drive the growth of global augment reality market. In 2016 about USD 1.3 billion was invested over the development of AR technology which is estimated to reach about USD 1.7 billion in 2017. Wide range of applications of AR technology to cater the needs of healthcare, education and entertainment sector anticipated to impel the growth of augment reality market in coming future. However, growing numbers of AR software developers, provide various options for AR apps and software but lacks in standardization regarding the size and compatibly to the wearable devices and handsets is one the major challenge for the augment reality market growth.
Market Size and Forecast
The global augment and virtual reality market accounted for USD 5.2 billion in 2016 in which augment reality market share more than 40% share and accounted for USD 2.1 billion in 2016. Further the global augment reality market is expected to expand at a CAGR of 60.9% to reach USD 94.6 billion over the forecast period i.e.2016-2024.
Geographically, North America accounted for the highest revenue share in global augment reality market in 2016 with more than USD 1.3 billion revenue generated, closely followed by the Europe with more than 18% revenue share in global augment reality market. U.K dominates the Europe region with 5% market share in Europe. Asia Pacific is expected to be the fastest growing market over the during forecast period owing to rapid adoption of new technologies in fastest growing economies and developed countries such as Japan, Korea, China and India among others. China dominates the Asia Pacific region with more than 30% share in Asia Pacific region’s augment reality market.

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The Augmented Reality market is expected to increase due to growth in GDP per-capita, international tourism, etc. Yet, the market faces some challenges such as, global economic downturn, high probability of terror attack, etc. The global Augmented Reality market is expected to grow at a healthy rate during the forecast period (2017-2024). The growth is expected on account of many factors, such as an increase in disposable income, increasing international inbound and outbound tourism and aging demography.

However, the market also faces some challenges, which includes increase in the number of terror attacks, heavy taxes imposed on the tour operators and seasonality dependence. Digital travel, evolution of eco-tourism and rise of adventure tourism are some of the latest trends in the global Augmented Reality market.

The report provides a basic overview of the Augmented Reality industry including definitions, classifications, applications and industry chain structure. And development policies and plans are discussed as well as manufacturing processes and cost structures.

Then, the report focuses on global major leading industry players with information such as company profiles, product picture and specifications, sales, market share and contact information. What’s more, the Augmented Reality industry development trends and marketing channels are analyzed.

The research includes historic data from 2012 to 2016 and forecasts until 2024 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. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Augmented Reality on the basis of stating current situation of the industry in 2017 so as to make comprehensive organization and judgment on the competition situation and development trend of Augmented Reality Market and assist manufacturers and investment organization to better grasp the development course of Augmented Reality Market.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.