Global Augmented Reality (AR) markets are poised to achieve significant growth with the use of smartphone apps and headsets or glasses that are platforms to project digital information as images onto a game image or a work situation.
Complete report on Augmented Reality (AR) market spread across 516 pages, analysing 14 major companies and providing 183 tables and figures is now available here.
The Augmented Reality (AR) market size at USD $659.7 million in 2015 is anticipated to reach $80.8 billion by 2022. The market goes from $659.7 million in 2015 to $2.6 billion in 2016, an astoundingly rapid growth for a Augmented Reality (AR) market that really is not yet well defined. The increasing scope of applications across all industries is expected to drive demand over the forecast period to these unprecedented levels, reaching into the trillion dollar market arenas soon. AR technology is in the nascent stage with a huge growth potential, and has attracted large investments contributing to the industry growth.
Adoption of AR technology in the enterprise is growing with AR headsets and glasses being used in manufacturing, logistics, remote service, retail, medical, and education. One popular AR application is providing ‘see-what-I-see’ functionality, enabling off-site specialists to provide real-time guidance and expertise to troubleshoot an issue. Others superimpose process steps by step information on dials and switches in workflow situations.
“These game based and industrial end-to-end process IoT augmented reality modular Augmented Reality (AR) markets are anticipated to reach $7 trillion by 2027, growing in some cases at the same pace we have seen from Pokemon Go augmented reality. Pokémon Go grew to a massive 45 million daily active users per day after two months in the market, with the market reaching $250 million for the vendor Niantic by September 2016 after two months starting from zero.”
AR is in the early stages of an explosive growth cycle. The Pokemon Go phenomenon raid adoption raised awareness and expectation for the vision of augmented reality AR and digital enhancement of the surroundings. Digital enhancement as AR is just human explanation of our existing surroundings. Digital enhancement provides human explanations of the innate natural world and of the machines we use to perform work.