Market Overview: Augmented Reality and Mixed Reality Market is expected to grow at a CAGR of 43.93% Analytical Research Report Includes Various Factors like – Top Manufacturers, Product Type, Focused Application, and Forecast 2018-2023

  • Betty Rhoads
    Betty Rhoads
  • April 17, 2019
  • Comments Off on Market Overview: Augmented Reality and Mixed Reality Market is expected to grow at a CAGR of 43.93% Analytical Research Report Includes Various Factors like – Top Manufacturers, Product Type, Focused Application, and Forecast 2018-2023

Augmented Reality & Mixed Reality

“Latest Market Overview for Augmented Reality & Mixed Reality Market Research Report

Global Augmented Reality & Mixed Reality Market Report 2018 provides actionable intelligence on factors that have been driving demand; key trends that are impacting the Augmented Reality & Mixed Reality marketchallenges that affect the market dynamics along with the market size, a SWOT analysis of the key vendors, and various segments.

Competitor Analysis: by product types, market share, applications, sales, and revenue.

  • Magic Leap
  • Meta Vision
  • Acer Incorporated
  • Dell Inc.
  • Microsoft Corporation
  • Samsung Electronics
  • Lenovo Inc.
  • HP Corporation
  • Asus Computer International Inc.
  • Zapper AR

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Description of Augmented Reality & Mixed Reality Market: The global augmented reality & mixed reality market was valued at USD 1.43 billion in 2017, and is expected to reach USD 12.97 billion by 2023, registering a CAGR of 43.93%, over the forecast period of 2018-2023. The scope of the report is limited to the deployment model offered by major players, including public cloud, private cloud, and hybrid cloud. The regions considered in the scope of the report include – the United States, Canada, the United Kingdom, Germany, France, China, India, Japan, Mexico, Saudi Arabia, and Brazil.

Augmented reality (AR) and mixed reality (MR) have become the buzzwords in the technology industry, with most of the leading players launching products in the domain. Although the initial technology was focused on gaming and entertainment, mixed reality has found applications across a diverse range of industries, including education and training. Companies are incorporating AR and MR, to provide hands-on training, without the need for training equipment. With various industries exploring the potential of the technology, investments in the market have recorded exponential growth and are poised to register robust growth over the forecast period. Microsoft Hololens project, which was initiated in 2010, took six years for development, after launching the developer’s edition in the first quarter of 2016. Magic Leap, an AR startup, has raised over USD 1.9 billion and is launching a product after seven years of development.

Introduction of Low-cost Devices and the Increasing Purchasing Power in Developing Countries

The growth of competitors for the deployment of smartphones across various regions, has led to a price drop for the company. Owing to such trends, there has been a growth in the smartphones and other wearables that support such technologies, thus driving the growth of the market. Total smartphone shipments are expected to increase to about 1.69 billion units by 2020. Various partnerships and initiatives have also taken place, to reduce or subsidize the availability of smartphones and other smart phones. Governments in various countries, such as India, have launched Akash tablets to support education in the country. In Africa, companies, such as Safaricom and Microsoft, have partnered to launch 4Africa smartphone. Intel has also launched a low-cost smartphone with Yolo by Intel, which has sold about 5000 units. These growth trends in the number of devices has augmented the penetration of AR and MR services from vendors. Internet penetration rates have also been on the rise compared to the previous years, which further contributes to the growth of AR & MR services.

High Number of Applications in the Medical and Healthcare Industry

The medical field is expected to be highly influenced by applications of AR & MR. It is already in use for various practical purposes, and the technology is expected to play an important role in the future of medicine. In 2013, Google Glass and VIPAAR, a virtual AR app, was used to perform surgery. The capabilities of AR technology will allow the surgery procedures to be simplified, offering a safe environment and experience to patients. Apart from Google Glass, a host of devices are being used in the medical field. Doctors have been using a skin cancer app that can calculate the impact of moles with real-time vision, and receive feedback. Blood infusion instruments, like glasses and devices, are being used to locate veins, allowing blood work to be performed quickly and IVs inserted, without having to worry about missing a vein.

The United States is one of the Major Markets

The United States is expected to be one of the fastest growing AR & MR markets in the world, over the forecast period. Most of the companies advancing in this technology are based in the United States. Leading players, such as Microsoft and Magic Leap, are actively working on this technology, using the United States as their base. The United States is one of the largest markets for the media & entertainment industry as well. For example, Microsoft HoloLens is a breakthrough in the mixed reality technology. The United States is also a pioneer in the technology space.

High technology exposure and easy availability of devices have created a robust demand for smart devices, in this region. Microsoft Hololens was first released in the United States and Canada, and has received positive response from the consumers in the region. Microsoft announced that it has sold thousands of units during the first three months after the launch, even with the device being targeted at enterprise users. Thus, the technology is expected to witness healthy growth in the country

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Augmented Reality & Mixed Reality Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Augmented Reality & Mixed Reality Market players in detail. Augmented Reality & Mixed Reality Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.

Reasons to Purchase this Report

  • Understanding how the increasing demand for low-cost devices acts as a driver of the global augmented reality & mixed reality market.
  • Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
  • The end user that is expected to dominate the market.
  • The regions that are expected to witness the fastest growth during the forecast period are analyzed and estimated for growth.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet (in Excel).

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    The Global demand for Augmented Reality & Mixed Reality Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.

    Augmented Reality & Mixed Reality Market Historic Data (2012-2018):

    • Industry Trends: Status and Outlook.
    • Competitive Landscape: By Manufacturers, Development Trends.
    • Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
    • Market Segment: By Types, By Applications, By Regions/ Geography.
    • Sales Revenue: Market Share, Growth Rate, Current Market Analysis.

    Further, in the Augmented Reality & Mixed Reality Market research reports, the following points are included along with an in-depth study of each point:

    • Production Analysis– Production of the Augmented Reality & Mixed Reality is analyzed with respect to different regions, types, and applications. Here, price analysis of various Augmented Reality & Mixed Reality Market key companies is also covered.
    • Competitors– In this section, various Augmented Reality & Mixed Reality industry-leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.
    • Sales and Revenue Analysis– Both, sales and revenue are studied for the different regions of the Augmented Reality & Mixed Reality Market. Another major aspect, price, which plays an important part in the revenue generation, is also measured in this section for the numerous regions.
    • Supply and Consumption– In continuation with sales, this section studies supply and consumption for the Augmented Reality & Mixed Reality Market. This part also shelters light on the gap between supply and consumption. Import and export statistics are also given in this part.
    • Other analyses– Apart from the above-mentioned information, trade and distribution analysis for the Augmented Reality & Mixed Reality Market, contact information of major manufacturers, suppliers and key consumers are also given. In addition, SWOT analysis for new projects and viability analysis for new investment are included.

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    The growth of this market worldwide is subjected to various factors; including consumer world-class Augmented Reality & Mixed Reality Market of many Augmented Reality & Mixed Reality Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.

    Conclusively, this report will provide you a clear view of each and every fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.

  • Betty Rhoads