360 Research Reports offers the latest published report on “Global Augmented Reality & Mixed Reality Market – Segmented by Component Type (Hardware, Software), Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), End User, Display Technology and Region – Growth, Trends, and Forecast (2019 – 2023)” delivering key insights and providing a competitive advantage to clients through a detailed report.
Global Augmented Reality & Mixed Reality Market 2019-2023 considers the past, current and future state of the industry while encapsulating modest landscape analysis, manufacturers, marketing strategies, industry effect factor analysis. An unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas has been included to help stakeholders to device and align Augmented Reality & Mixed Reality market strategies according to the current and future market. All enterprise profiles of the main players and brands are shown in this research. The report presents the drivers and restrictions of the market that have been explained by SWOT analysis.
Augmented Reality & Mixed Reality Market Segmentation by Major Players:
Magic Leap, Meta Vision, Acer Incorporated, Dell Inc., Microsoft Corporation, Samsung Electronics, Lenovo Inc., HP Corporation, Asus Computer International Inc., Zapper AR,
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Overview of Augmented Reality & Mixed Reality Market Report:
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 2019-2023. 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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Important factors that are mentioned in the Augmented Reality & Mixed Reality Market report 2023…
Key Market Dynamics: The Global Augmented Reality & Mixed Reality Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in a huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.
Major Growth Prospects: The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.
Key Market Highlights: The report gives us an in-depth Market analysis on some of the Augmented Reality & Mixed Reality Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.
Potential Customers: The Augmented Reality & Mixed Reality Market report provides significant insights to readers, service providers, suppliers, distributors, manufacturers, stakeholders, and individuals who are interested in evaluation and self-studying the Augmented Reality & Mixed Reality market.