From a global perspective the development of augmented reality applications is also very positive.
A segmentation in the AR market is optimizing the progress
How every other market, the augmented reality market is consisting out of various segments. The analysis of every single segment and the individual dependencies and requirements of them are the basis of the continuous progress through a targeted development of strategies.
Software and hardware are the most important segments on the market. They consist out of different sub-components.
Software: tracking und image processing
Hardware: sensors, 3D graphics system, displays, GPS systems or wireless networks
Comprehensive studies about the global sales of AR components predict an annual growth of up to 140%. https://de.statista.com/infografik/15313/geschaetzter-weltweiter-absatz-von-augmented-und-virtual-reality-geraeten/
The market segment augmented reality applications contain all applications, which orient themselves on the functionality of different playback devices. Those are for example smartphones, tablets, wearables, gaming consoles, smart glasses or personal digital assistants.
The published results of the Augmented Reality Monitor 2018 show, that AR applications own a very high level of awareness today. https://www.splendid-research.com/de/statistiken/item/augmented-reality-nutzung-bekanntheit-einzelhandel.html
An important prerequisite for a successful development of AR applications is the regional segmentation of the market. In this way, the AR industry can optimally tailor the development on the individual requirements and specific characteristics of the potential users of a region. At the same time, regional market segmentation optimizes the observation of market development.
- North America
- Western Europe
- Latin America
- Asia-Pacific region
- Middle East
Key players in the global AR market
Actually, 14 key players are influencing the augmented reality market in a special way. Due to the fast growth of the market, there will be an interesting positioning change in the list of the leading suppliers the next few years.
- Qualcomm Inc., USA
- Microsoft Corporation, USA
- SAP SE, Deutschland - Blippar Group (Aurasma, Nintendo, Layar), UK
- Infity Augmented Reality, Israel
- Apple Inc., USA
- DAQRI, USA
- Samsung Electronics Ltd., Südkorea
- Google Inc., USA
- Elsevier, Niederlande
- Intel Corporation, USA
- HCL Technologies Limited, Indien
- CORDIS, USA
- Catchoom Technologies, Spanien
Augmented Reality in the most diverse branches
The augmented reality industry is seeing its future in the most diverse branches in the customer and business area. Those are reaching from retail over tourism up to gaming and the entertainment industry. In business, AR applications are supporting various branches – education in numerous areas, maintenance, construction and many more.
Due to the continuous development, it is not relevant anymore to define typical augmented reality branches. In the near future there will be an appropriate AR application for every business field. In the end, the creativity of the AR providers is securing the maximum benefit taking into account the business specific characteristics.
Innovations on the augmented reality market
Numerous innovations are already integrated in the modern AR-capable devices due to the AR requirements. These include more powerful sensors, such as those required for acceleration, rotation rate calculation or depth measurement. The photographic quality of the integrated cameras as well as the 3D recording capability are also among these innovations. This also applies to the rapid processors and graphics processor units.
At the same time, the market entry barrier of companies in the AR market is falling, as new program frameworks within the mobile operating systems simplify the development of augmented reality apps. An example is the developer tool ARKit integrated in iOS 11.
AR as a growth market of the future
It is undisputed that the augmented reality market is a future market. However, growth is regionally different due to a wide range of influence criteria.
According to a very comprehensive study by Market Research Future https://www.marketresearchfuture.com/reports/mobile-augmented-reality-market-1048, the global augmented reality market will grow to a total of approximately $ 70 billion by 2023. The average CAGR (annual growth rate) is 61 percent.