Germany Augmented Reality Market is expected to grow at a fast pace over the forecast time span owing to increasing applications of the technology in the automobile industry. In the race to develop driverless cars, manufacturers, such as Audi and BMW, are implementing the technology in automobiles to increase the level of self-driving capabilities. The manufacturers are also implementing the technology in manufacturing processes to improve the operational effectiveness.
The augmented reality market has been rapidly penetrating myriad verticals, subject to its extraordinary capability of enabling users to glimpse a live direct or indirect view of a real-world scenario, the components of which are enhanced by real-world sensory inputs such as graphics, sounds, and GPS data. In the decades to come, it has been speculated that augmented reality industry trends would observe a consistent transformation of sorts, given the fact that this technology is undoubtedly slated to revolutionize consumer lifestyles by quite some proportion. The latest automobiles for instance, have been incorporated with head-up displays for GPS clearance, AR glasses as virtual navigation beacons, and more.
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One of the most proactive tech giants across the globe, Google has comfortably carved its space in augmented reality market. Merely a month earlier, the company had claimed that AR tech is here to stay – as per the companys claims, close to 100 million devices will be equipped with AR by the end of Q4 2017, while a tentative ‘hundreds of millions’ of devices would be incorporated with AR by 2018 end. Affirming its substantially huge claims, the tech behemoth has recently launched its own AR stickers on the Pixel and Pixel 2. The novel AR tech used in these stickers will also be effectively launched with the branded stickers of Stranger Things and Star Wars, further popularizing the commercialization potential of U.S. augmented reality market.
The hardware segment of the augmented reality market is expected to grow rapidly over the forecast time span. Common applications, such as gaming and retail, use AR applications on tablets and smartphones, not requiring a dedicated hardware device such as HMDs or smart glasses. However, enterprise uses of the technology such as designing, manufacturing, and quality check in aerospace & defense, industrial, automotive, and medical are increasingly investing in hardware such as HMDs and smart glasses.
An elemental realm of the smart technology space, augmented reality market has, in recent times, emerged to be an extensively deep-rooted niche vertical, the expansive growth of which can be unquestionably credited to the heavy applications that AR finds across myriad businesses such as retail, medical, aerospace, automotive, and most influentially, the gaming zone. The extensive deployment of AR in games is coherently vivid from the massive popularity that gaming products enjoy among a tech-savvy consumer base. For instance, recently, internet tabloids were ablaze with the news that Pokémon Go has received a major AR makeover. That is to say, the existing AR feature on the game has been sufficiently updated so as to retain the phone’s battery life – all due to the ARKit framework embedded in the iOS 11. This incidence validates the fact leading tech magnates partaking in augmented reality market have been going the whole nine yards to explore and innovate as many exceptional AR products in order to expand the application landscape of this business space.
Rapid adoption of the technology in aerospace & defense is expected to drive the augmented reality market growth. Companies are investing in leveraging the technology to improve manufacturing processes, reduce costs, and save time. For instance, Boeing is using Google Glass to construct aircraft wire harnesses. The technology helps technicians in building hugely chaotic and complex wire webs to connect electrical systems in the aircraft.
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The retail sector isn’t far from heavily adopting AR tech either – recently, Myntra made it to the headlines for its announcement of planning to deploy AR for enhancing its connect with consumers, which would have a considerable impact on augmented reality market outlook from the retail sector. By a large, AR is likely to emerge as a transformative technology in the years ahead, propelling augmented reality industry share. As per a report compiled by Global Market Insights, Inc., augmented reality market size has been estimated to cross USD 50 billion by 2024.
Glimpse of Table of Content (ToC)
Chapter 3 AR Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2014 – 2024
3.3 Industry ecosystem analysis
3.4 Capital Investment
3.5 Notable Mergers & Acquisitions in the AR market
3.6 Technology & innovation landscape
3.6.1 Augmented Reality Earbuds
3.6.2 Smart Glasses for Blind People
3.6.3 Augmented Reality Helmet
3.7 Regulatory landscape
3.7.1 Digital Millennium Copyright Act (DMCA)
3.7.1 Communications Decency Act (CDA)
3.7.2 Child Online Protection Act (COPA)
3.7.3 Federal Trade Commission (FTC)
3.8 Industry impact forces
3.8.1 Growth drivers
188.8.131.52 Emerging AR applications across e-commerce and retail
184.108.40.206 Increasing investments in the AR technology
220.127.116.11 Rising demand in medical and automotive industry
18.104.22.168 Increasing adoption of AR enabled smart glasses
3.8.2 Industry pitfalls and challenges
22.214.171.124 Privacy concerns pertaining to the AR technology
126.96.36.199 Financial constraints and complexity
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 Competitive landscape, 2016
3.11.1 Strategic landscape
3.12 PESTEL analysis
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