Augmented reality is a technology, which usages the current user’s environment and overlaps the digital or virtual content or data over it to supply immersive digital experience in real-time environment. Virtual reality could be a computer-generated 3D atmosphere that completely submerges end users within an artificial world destitute of seeing the real-world. Augmented reality applications are progressive on special 3D programs that permit developers to participate contextual or digital contented with the real world in real time. Virtual reality propositions realistic user experience of artificial world in collaborating simulated environment.
According to the report analysis,’ Global Augmented Reality (AR) Market by Component, Technology, Device, Industry Vertical, End User, and Region 2020-2026: Trend Forecast and Growth Opportunity’ Key players working for the Global Augmented Reality market contain Apple Inc., Atheer, Inc., Optinvent S.A., Blippar Ltd., HP Development Co., Catchoom Technologies, S.L., Facebook Inc, Google, LLC, L.P., Intellectsoft LLC, Lumus Ltd., Magic Leap, Inc, Microsoft Corp., Niantic Inc., Popar Co Ltd, Qualcomm Technologies Inc., Sony Corporation, Total Immersion, Universal mCloud Corp. (NGRAIN),Samsung Co Ltd., Vuzix Corp., Wayray AG, Wikitude GmbH and Zugara, Inc. The augmented reality market is acquisition competitiveness. Many of the companies are growing their market occurrence by safeguarding new contracts and by patter new markets.
On the basis of geographical distribution, the market is divided into APAC, Europe, North America, North America and rest of the world. North America controls the augmented reality software market owing to snowballing investments in augmented reality market and increasing demand for augmented reality in e-commerce and retail stores in this region. Asia-Pacific and Europe are the predictable region in terms of development in augmented reality software market owing to growing adoption of AR technology in gaming and entertainment applications and fast acceptance of AR technology drive by the continual rollout of high-speed 5G networks in this region. Asia Pacific is anticipated to arise as the fastest-growing regional market. China and Japan are controlling the regional market leveraging a huge customer base and aggressive implementation of online platforms for numerous purposes. The region is projected to eyewitness rapid acceptance of AR technology propel by the continued rollout of high-speed 5G networks.
Based on Component, the global market is divided into Sensors, Semiconductor Component, Displays and Projectors, Position Trackers, Cameras, Others, Software Developer Kits and Cloud Services. Based on Technology, the global market is deliberated into the Passive Marker and Active Marker. Model based Tracking ad Image based Processing. Based on Device, the global market is divided Head-Mounted Display (HMD), Head-Up Display (HUD) ad Handheld Device. Based on Industry Vertical, the global market is divided into Gaming, Entertainment & Media, Aerospace & Defence, Healthcare, Education, Automotive, Retail & Marketing and Other Verticals. Based on End User, the global market is segmented into Consumer, Enterprise, Large Enterprises and Small- & Medium-sized Enterprises.
Furthermore, continuing technological advancements together with the snowballing demand for the technology in medical imagining and healthcare education are expected to propel the augmented reality market development. Increasing Smartphone penetration in developing economies is anticipated to boost the market over the upcoming years. Thus, it is anticipated that the market of Global Augmented Reality (AR) will boost up throughout the forecast amount.
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Ankur Gupta, Head Marketing & Communications