Published by Markets and Markets new research has been released stating the Augmented Reality Market is expected to grow from $2.39 billion in 2016 to $61.39 billion by 2023. According to the report, rising demand for AR Heads-Up Displays in area like healthcare, retail and e-commerce will drive the market growth.
Major players in the AR market at present, as indicated by the report, are:
- Microsoft
- DAQRI
- Blippar
- Magic Leap
- Wikitude
- Zugara
- PTC Inc
- Osterhout Design Group
The market is currently dominated by companies based in the USA and Europe, though the report predicts this will change rapidly as companies based in APAC countries such as Japan, China, India and South Korea gear up their own AR offerings.
The report highlights that growth is due to AR technologies in the the business sector, with areas such as manufacturing, quality control, inventory and design developing AR software. The report also points out the potential for entertain applications, such as sports broadcasts and predicts that head-mounted AR displays for gaming and entertainment will be a major boost to the AR economy.
The full report is available to read on the Markets and Markets website.
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Source: Latest Report Has Augmented Reality Market To Be Worth $61 Billion By 2023
