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Augmented Reality Market by Offering, Device Type, Application & Geography - Global forecast to 2023 - Research and Markets

[July 28, 2017]

Augmented Reality Market by Offering, Device Type, Application & Geography - Global forecast to 2023 - Research and Markets

The "Augmented Reality Market - Global forecast to 2023" report has been added to Research and Markets' offering.

The augmented reality market was valued at USD 2.39 billion in 2016 and is expected to reach USD 61.39 billion by 2023, growing at a CAGR of 55.71% during the forecast period.

The increasing demand for AR devices and applications in medical, increase in demand for AR in the retail and e-commerce, and rising investment in the augmented reality market are the major drivers for the augmented reality market. The limited UI (user interface) affecting the navigation performance of augmented reality applications, limited processing power, less storage, and restricted size of the memory card in mobile phones, and varied infrastructure quality of digital network will restrain the growth of AR.

With advancements in computing, AR-enabled devices would be used for applications in consumer, commercial, and enterprise. Consumer applications such as gaming, sports, and entertainment would boost the augmented reality market for head-mounted displays. The useof head-mounted displays in the aerospace and defense sector helps pilots of helicopters and captains of ships in the air force and navy to target and view enemy's operations with a greater ease. The use of head-mounted displays in applications such as e-commerce and marketing would boost the AR market for HMDs.

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