Augmented reality (AR), a revolutionary technology that brings the virtual world closer to reality has become massive in the modern world. AR is playing an important role in transforming sectors such as healthcare and education. At the same time, increasing application of augmented and virtual reality in automotive, retail, manufacturing industries is auguring well for the global market for augmented reality. As per the latest report published by market Research Future (MRFR), the global market for augmented reality is soar at a CAGR of 39% between 2017 and 2023.
The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
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MRFR’s report has offer a through segmental analysis of the market based on device type, vertical, component, and technology. On the basis of device type, the market has been segmented into head-up displays, handheld devices and head-mounted displays. By vertical, the market has been segmented into commercial, consumer electronics, aerospace & defense, commercial and medical. By component, the market has been segmented into software and hardware. By technology, the market is segmented into marker less and marker-based.
On the basis of region, Market for Augmented Reality Covid 19 has been segmented into Europe, North America, Asia Pacific and rest of the world. North America, led by the US is expected to remain the a highly attractive market for augmented reality during the forecast period. This is mainly attributed to growing popularity of AR enabled devices among Americans, which is encouraging developers to create futuristic AR based platforms. Market player are also finding growth opportunities in Asia Pacific (APAC) and Europe. During the forecast period, the market in APAC is likely to expand at tremendous rate owing to the growing adoption of innovative solutions that boost industrial productivity.
Some of the key market participants mentioned the MRFR’s report include Total Immersion (France), Microsoft Corporation (U.S.), Infinity Augmented Reality Inc. (U.S.), DAQRI (U.S.), Catchoom Technologies (Spain), Sony Corporation (Japan), Wikitude GmbH (Austria), Osterhout Design Group (U.S.), Facebook, Inc. (U.S.), Qualcomm Technologies Inc. (U.S.), Blipper Inc. (U.K.), Google Inc. (U.S.), Samsung Electronics Corporation Ltd. (South Korea), Magic Leap Inc. (U.S.), PTC Inc. (U.S.), Zugara, Inc. (U.S.), and METAIO’s SDK (Germany).
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