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Global AR in Enterprise Market Will Reach USD 30,520 million by 2025: Zion Market Research(April 03, 2018)
New York, NY, April 03, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “AR in Enterprise Market by Component (Hardware and Software); by Display Device (Head-Mounted Display, Smart Glass, and Head-up Display); by Enterprise Size (SME’s and Large Enterprise); by Application (Automotive, Aerospace and Defense, Medical, Gaming, and Retail)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016– 2025’.
According to the report, global AR in enterprise market was valued at around USD 720 million in the year 2016 and it is expected to reach more than USD 30,520 million by 2025. The global AR in enterprise market is expected to exhibit a CAGR of approximately 51% between 2017 and 2025.
Browse through 23 Tables & 26 Figures spread over 110 Pages and in-depth TOC on "Global AR in Enterprise Market Size & Share 2016: Industry Forecast till 2022”.
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Market Report Highlights
- Increased adoption of AR technology by several sectors is the key factor driving the AR in enterprise market.
- In order to improve the consumers experience the market players are largely spending on the AR technology.
- High initial investments limit the growth of the AR in enterprise market especially in small-scale industries.
- By component, hardware segment contributed over USD 660 million in 2017.
- In the forecast period, software segment anticipates contributing the highest market growth owing to the increased adoption of the augmented reality apps in the smartphones.
- The head-mounted displays contributed the major market share in the AR in enterprise market. Head-mounted displays offer enhanced visuals by providing high-resolution 3D images.
- It is anticipated that in the coming years smart glasses may replace our regular information interfaces such as smartphones and tablets.
- The large enterprises are increasingly adopting the augmented reality technology in order to improve their work and product quality.
- In the forecast period, it is anticipated that the small and mid-sized enterprises will be highly embracing the AR technology.
- In the medical field, a large number of AR apps are available such as Viipar which is a video-support platform that acts as a guide to the surgeons while performing a surgery.
- In the defense domain, AR technology plays an important role, for instance, with the help of smart glasses the military personnel can obtain information about any territory in real time.
- The automotive sector contributed the major market share in the AR in enterprise market. In the coming years, the automotive sector will witness a rapid growth rate.
- Economies such as Japan and China are expected to experience a significant market growth owing to the presence of large manufacturing companies in the countries.
- North America held the dominant position in the global AR in enterprise market with around 37% share in 2017.
- The U.S. leads AR in enterprise market in North America owing to the presence of the major market players.
- Unawareness about the AR technology in the Middle East & Africa is one of the major concern for industry participants.
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According to the analysts and insight shared by industry experts during primary research, it is expected that the demand for the AR-related software will increase in the coming years. The adoption of the augmented reality apps will grow rapidly as they will be integrating the digital information with the physical environment. Increasing use of smartphones will somewhat aid in the growth of the augmented reality software segment.
In augmented reality technology, both virtual reality and the real world are combined together thus enriching the real world with digital information. Owing to its increased benefits augmented reality is being adopted in various sectors such as manufacturing, healthcare, education, retail, etc. Use of augmented reality technology helps in saving a lot of time and increases the product and work quality.
Browse the full "AR in Enterprise Market by Component (Hardware and Software); by Display Device (Head-Mounted Display, Smart Glass, and Head-up Display); by Enterprise Size (SME’s and Large Enterprise); by Application (Automotive, Aerospace and Defense, Medical, Gaming, and Retail)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016– 2025" report at https://www.zionmarketresearch.com/report/ar-in-enterprise-market
Software and hardware are the two components used in the augmented reality technology. Among them, the major market share of 60% was contributed by hardware in 2016. For the utilization of augmented reality applications terminal devices with intense hardware, modules are very vital. Devices such as display devices, host systems, controllers, and tracking system play a very important role in augmented reality technology.
The head-mounted display dominated the AR in enterprise market in 2017 by display device type. The head-mounted display is one of the basic components in the headsets. It offers advanced vision along with high-resolution 3D images and viewing. The rising adoption of a head-mounted display in augmented reality and decreasing cost of HMDs are factors propelling the growth of this segment in the global market in the coming years.
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The AR technology is being highly adopted by the large enterprises. Owing to the need for the high investments in the technology currently large enterprises are contributing the major share in the global market. In 2017, a major market share of over 60% was contributed by the large enterprises. However, it is anticipated that in the forecast period small and mid-sized enterprises will also be highly embracing this technology owing to its benefits.
North America is leading in the global AR in enterprise market with a huge market share of over 37% in 2017. The early and the increased adoption of the advanced technologies is the key factor driving the growth of the market in this region. Followed by North America, Europe also holds a significant share in the global AR in enterprise market. Increasing adoption of the augmented reality technology in the automotive sector contributed to the growth of the market in Europe.
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The major market players in the AR in enterprise market are Apple Inc., Blippar, CyberGlove Systems LLC, Daqri LLC, Eon Reality, Inc., Facebook Inc., Google LLC, HTC Corporation, Magic Leap, Inc., Marxent Labs LLC, Qualcomm, PTC Inc., Microsoft, Rockwell Collins, Samsung, Upskill, Vuzix Corporation, and Wikitude GmbH., among others.
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The global AR in enterprise market is segmented on the basis of the component, display device, enterprise size, application, and the geographical regions.
Global AR in Enterprise Market: Component Segment Analysis
Global AR in Enterprise Market: Display Device Segment Analysis
- Head-Mounted Display
- Smart Glass
- Head-up Display
Global AR in Enterprise Market: Enterprise Size Analysis
- Large Enterprise
- Small and Midsize Enterprises (SME’s)
Global AR in Enterprise Market: Application Analysis
- Aerospace and Defense
Global AR in Enterprise Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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