Augmented Reality Market- Integration of Artificial intelligence in AR to Augur Well for the Market

The  augmented reality  market is predicted to reach USD 125.32 billion by 2026, exhibiting a CAGR of 48.6% during the forecast period. The growing application of AR in various industries for monitoring and training purposes will bolster the healthy growth of the market during the forecast period. AR can enhance the effectiveness of training, especially for complicated or rare tasks, besides reducing the overall cost. Therefore, organizations around the world are utilizing AR to educate and train employees with its immersive solutions, and interactive training environment. For instance, the US Department of Agriculture’s (USDA’s) Food Safety and Inspection Service (FSIS) have started the implementation of digital reality, which includes AR and VR for training programs.

According to the report, published by Fortune Business Insights, titled “Augmented Reality (AR) Market Size, Share & Industry Analysis, By Component (Product, Software, Maintenance & Support Services), By Device Type (Handheld Devices, Stationary AR Systems, Head-mounted Displays (HMDs), Smart Glasses, and Others), By Industry (Gaming, Media and Entertainment, Education, Healthcare and Medical Devices, Retail, Logistics, Manufacturing and Engineering, and Others) and Regional Forecast, 2019-2026” the market size stood at USD 5.40 billion in 2018.

To Gain More Insights into the Augmented Reality Market, Browse Summary of the Research Report:

The report is fixed at delivering a comprehensive description of the augmented reality (AR) market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the market. It further examines the ways and components convincing diesel generator market expansion, growth patterns, restricting factors, and market strategies.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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The Report Lists the companies in the Augmented Reality Market

  • Alphabet, Inc. (Google LLC)
  • Microsoft Corporation
  • Apple, Inc.
  • Samsung Electronics Co. Ltd.
  • Daqri LLC
  • Vuzix Corporation
  • Facebook, Inc.

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Competitive Landscape

Launch of Quick Look by Apple to Boost Market Prospects

Apple, Inc., an American multinational technology company headquartered in Cupertino, California released Quick look, an augmented reality (AR) tool, which is featured in iOS and iPad OS. The new tool will allow users to see certain products directly in their environment. The new AR tool, Quick look, is predicted to aid E-commerce companies. It will provide the customers the ability to choose products as per their requirements while making the product look-real-like in their own space, which will lessen product returns and boost sales. The launch of the new tool will aid the augmented reality (AR) market revenue owing to the features of the tool, such as spatial audio and next-level user experience. Moreover, with the new update, now developers can add a purchase button (that will open up Apple Pay), or use a support window to chat with customers. In addition, the focus of companies towards the integration of Artificial intelligence in AR will also subsequently fuel the demand for augmented reality in the forthcoming years.

Regional Analysis

Government Initiatives to Aid Growth in North America

North America generated a revenue of USD 2.12 billion in 2018 and is predicted to remain dominant during the forecast period owing to the presence of various companies such as Google LLC, Facebook, Inc., and Apple, Inc. Furthermore, the rising R&D investment in the development of the augmented reality in the U.S.  The implementation of various government initiatives and startups for advanced AR technology will create new opportunities for the AR/VR market trends in North America. Asia Pacific is predicted to grow rapidly in the forthcoming years owing to the presence of leading market players such as Samsung Electronics, PTC, Inc., and Sony Corporation. Additionally, the growing sales of smartphones in China and India will facilitate growth in the region.

Major Table of Content for Augmented Reality Market:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global Augmented Reality Market Analysis, Insights and Forecast, 2015-2026
  6. North America Augmented Reality Market Analysis, Insights and Forecast, 2015-2026
  7. Europe Augmented Reality Market Analysis, Insights and Forecast, 2015-2026
  8. Asia Pacific Augmented Reality Market Analysis, Insights and Forecast, 2015-2026
  9. Middle East and Africa Augmented Reality Market Analysis, Insights and Forecast, 2015-2026
  10. Latin America Augmented Reality Market Analysis, Insights and Forecast, 2015-2026
  11. Competition Matrix
  12. Global Augmented Reality Market Revenue Share Analysis, 2018
  13. Company Profiles (Covered for Top 10 Players)

Complete TOC Available Here

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Name: Ashwin Arora
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Ruby Arterburn

Ruby is leading the team writing for artificial intelligence. She is a newcomer in the organization and has already made her base and reputation with her hard work and her efficiency towards her field. Being a student of computer science it has become easier for her to understand the objectives and the expected results of this column. She is also an excellent cook, and now and then, and we get the opportunity to taste her deliciously baked cookies.

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