This Augmented Reality market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Augmented Reality market.
Advancements in augmented reality (AR), particularly in the field of entertainment and gaming, in coordination with virtual reality, have been offering potential growth opportunities for industries other than entertainment. Augmented reality has already witnessed significant permeation into the healthcare industry facilitating healthcare professionals in various disease diagnostics and therapeutics. Military, navigation, maintenance & repair, and manufacturing, are other lucrative application areas of augmented reality
Social media is another platform which has been significantly influenced by the technology of augmented reality. Brands and marketers are currently focused toward scrutiny of AR technology’s potential in replacing social networks, in a bid to devise competitive strategies and explore new measures to boost sales. The strengthening relationship between social media and augmented reality shows no signs of abating, encouraging people to create their own experiences through tools required for building AR camera lenses & effects.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Augmented reality applications and gradually witnessing mainstream adoption and are witnessing rapid traction among consumers. Augmented reality (AR) generally portrays as a real time hub and integrated combinations of text, graphics, audio and several other enhancements to customer screens and showcase real-world objects. With increasing uptake of social media, Augmented Reality application providers are focusing on developinga location-based services for mobile devices.
Typically consumer use Augmented Reality “hardware” which include smart phone with GPS, camera, compass, and tilt-sensing technology all integrated under a single platform. This augmented reality applications is gradually witnessing traction among retailers, as customers are using this to find locations or products with maps and directions; customers are also using the same to search in-depth information about certain products. Retailers use this as an opportunity to contextualize products and send personalized promotional messages to their potential clients for upselling and cross selling.
Tier 1 retailers continue to experiment with Augmented Reality applications in-store, online and on mobile devices. Globally the retail space is increasingly becoming overcrowded and customers are not responding to traditional marketing methods. That’s where augmented is pitching in. As shoppers are preferring omni-channel strategy with combination of online, mobile, and bricks-and-mortar shopping for their convenience, brands and retailers has to think of new and innovative ways in which they can capture customer attention.
Examples of implementations include enabling customers to virtually try clothing online or in a "virtual dressing room" in the store or how jewelry would appear in certain lights and against certain skin tones., to enable shoppers to virtually try on their purchases quickly and easily.
In terms of US$ market opportunity for providers, it’s still not more than US$50million in 2014; however Future Market Insights in its upcoming report indicated, with the phenomenal adoption of Augmented Reality applications for mobile devices, the retail opportunity is expected to grow at CAGR of over 35% in next few years.
In terms of application the retail opportunity can be split into, location search, and product search, accessing product information & receiving relevant promotional message.However FMI in the upcoming report highlighted that after initial hype of mobile based Augmented Reality around GPS, there have been development to develop richer and more graphic-intensive applications which is expected to drive. During forecast period, FMI predicts functionality is bound to expand its horizon to computer-vision-based location services (such as image and objection recognition) to deliver the ability to visually identify still and moving objects.
FMI in the upcoming report highlighted that there are several options how vendor can tap this opportunity. Success of adoption of Augmented Reality among retailers will depend on their ability to use it as a means of Omni-channel shopping experiences rather than using it as a one of technology. Key vendors which were analyzed in the report are GoldRun; Iryss; Layar; Metaio; Total Immersion; Zugara.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product type and distribution channels.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Middle East and Africa
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Augmented Reality Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Augmented Reality Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Augmented Reality Market report?
In addition to up-to-date market figures and customized of the Augmented Reality Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.