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: https://www.fortunebusinessinsights.com/augmented-reality-ar-market-102553
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.
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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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.
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