Augmented reality market is growing remarkably during the forecast period. Augmented reality technologies are used to create a blend of virtual and real environments by interacting with virtual applications in the real world. Augmented reality is additionally experienced through gaming or creating a gaming experience that utilizes actual surroundings. For instance, Pokemon Go is the latest game that allows users to catch virtual Pokemon which is hidden across the globe. A number of other games such as AR air hockey and AR-enhanced pool table games were developed for indoor environments in the gaming industry. Moreover, it is also being used by other industries such as in medical to perform complex surgery, military and defense, and many more.
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Various companies and educational organizations are investing aggressively in the global augmented reality market across the globe. For instance, Facebook has acquired many augmented reality companies, mostly through its subsidiary OculusVR. Rothenberg Ventures, a venture capital firm has made 32 investments including investment in WaveVR, 8i, InsiteVR, VRchat, and Fove company in the augmented and virtual reality industry. Further, HTC, the smartphone maker that produces Vive VR goggles, has been the leading corporate investor in new 26 AR/VR startups such as Apelab, Cala, QuarkVR and so on.
In addition, the augmented reality company such as Ather, Inc., Blippar, and Lumus, are investing in the AR market. In 2016, Lumus invested 6 million in augmented reality which increased up to 45 million in 2017. Further, Ather invested 49.6 million in the augmented reality segment in 2017 and Blippar invested 54 million in augmented reality to improve the augmented reality technology. Due to this, funding and investment by startups and a well-established company, the global augmented reality industry is growing at a significant rate across the globe.
The educational organization is also investing in the global market. The schools and colleges are providing students AR software for better understanding and live experience. Educational institutes are showing their commitment to digitally transforming the teaching experience. Schools are developing programs that add a new dimension of value to the educational experience. Some application of augmented reality that can be used in educational institutes which includes modeling of an object, AR books, skill training and many more. This will aid in the significant growth of the augmented reality market across the globe.
Global Augmented Reality Market- Segmentation
By Application
- Enterprise
- Consumer
- Commercials
- Automotive
By Device Type
- Head-Mounted
- Head-Up
- Handheld
By Product
- Mobile Devices
- Smart Glasses
- Head-Mounted Displays
By Offerings
- Hardware
- Sensors
- Displays and Projectors
- Cameras
- Software
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