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Augmented Reality & Mixed Reality Market Size, Share 2018 Global Industry Trends, Growth, Segmentation, Future Demands, Latest Innovation, Sales Revenue by Regional Forecast to 2023 | 360 Market Updates

Augmented Reality & Mixed Reality

Augmented Reality & Mixed Reality Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Augmented Reality & Mixed Reality market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Augmented Reality & Mixed Reality Market report is anticipated to register a CAGR of 43.93% over a five years forecast period (2018 – 2023).”

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List of Major Key players operating in the Global Augmented Reality & Mixed Reality Market are –

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

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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Scope of the Report:

The report analyses Augmented Reality & Mixed Reality market, which includes –

  • Analysis of the growth of Augmented Reality & Mixed Reality market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Augmented Reality & Mixed Reality market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Augmented Reality & Mixed Reality market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Augmented Reality & Mixed Reality market are discussed.
  • The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Augmented Reality & Mixed Reality Market Report:

  • Varying dynamics of the Augmented Reality & Mixed Reality industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
  • Augmented Reality & Mixed Reality market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Augmented Reality & Mixed Reality market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Augmented Reality & Mixed Reality Market Report:

  • The report analyses how stringent emission control norms will drive the global Augmented Reality & Mixed Reality market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Augmented Reality & Mixed Reality market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Augmented Reality & Mixed Reality:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023

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