The Augmented Reality Market research report 2021 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The Augmented Reality market report provides information regarding market size, share, trends, growth, cost structure, Augmented Reality market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2026.
The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the Augmented Reality market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the Augmented Reality industry and provides data for making strategies to increase market growth and effectiveness. The report covers the post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.
The global Augmented Reality Market was valued at USD 1.98 billion in 2020 and is expected to register a CAGR of 151.93% over the forecast period (2021 – 2026).
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendors/key players in the market. Top Companies in the Global Augmented Reality Market: Google LLC (ALPHABET INC.), Seiko Epson Corporation, Vuzix Corporation, Realwear Inc, Dynabook Europe GmbH, Daqri, Optinvent, Kopin Corporation, Lenovo Group Limited, Fujitsu Limited, and others.
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Key Market Trends
Hardware to Exhibit Higher Growth
– One of the outstanding features of AR technology is the type of hardware used as AR can be achieved without any external devices. In the hardware perspective, heads-up displays with early forms of artificial intelligence (AI) have compelled organizations to experiment with tools that tap into augmented reality (AR) possibilities. By overlaying digital information and objects on top of physical environments, AR has the potential to take consumer interactions to the next level.
– With a strong dependency on hardware, the demand for accurate measurement is expected to certainly drive hardware changes, particularly clock synchronization of all the sensors involved. The camera with high resolution, combined with a range of IR sensors and IMUs, is expected to be developed in line with estimating precisely in the 3D space. Similar trends are anticipated among the semiconductor companies incorporating these technologies into their latest chips to support accurate AR frameworks.
North America to Register Significant Growth
– The North American AR market is expected to grow significantly over the forecast period, owing to the presence of a large number of vendors that are also making huge investments 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. High technology exposure and ease of availability of smart devices have created a strong AR market in the region. Microsoft AR product, Hololens, was first released in the United States and Canada, and it received a positive response from consumers in the country.
Recent developments in the market are –
– March 2020 — RealWear Inc announced the product enhancement with the integration of Microsoft Teams for RealWears voice-controlled Android HMT-1 headsets. By leveraging this integration on headsets, the industrial worker can use both hands for performing complex procedures while remotely collaborating with peers on the subject matters via voice
– June 2019 — Seiko Epson Corporation released Moverio Assist, a new software tool that utilizes existing smart glasses from the company to provide a quick and easy way to deploy remote assistance for teams in the enterprise space, small startups, and regular consumers as well.
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 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. 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.
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