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NEW YORK, Jan. 19, 2022 /PRNewswire/ — There has been a constant rise in many automobile companies that are using AR and AI technologies to strengthen their presence in the market. The use of AR in cars is estimated to increase significantly as per the latest research report of “Augmented Reality Market – Forecast and Analysis“.
If we look back at the historic data, for instance, in November 2019, Starbucks built its holiday-themed AR effects using Facebook’s Spark AR platform with new computer vision technology.
Key Augmented Reality Market Report Highlights:
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Regional Market Analysis
With 35% of the growth originating from APAC, this region will record a fast growth rate during 2021-2025.
The strong presence of the number of automobile giants in the region is rising the demand for Head-up Displays (HUDs) in the APAC market region. Additionally, these players are integrating AR technology to provide an excellent driving experience.
Apart from Head-up Displays, the two key reasons for the increasing augmented reality market’s growth in APAC are:
For Additional Information about the regional market: Request for a free sample report.
Key Vendors and Vendor Strategies
Alphabet Inc., Dynabook Inc., Facebook Inc., Microsoft Corp., PTC Inc., Qualcomm Inc., Samsung Electronics Co. Ltd., Upskill, Vuzix Corp. and Zugara Inc. are a few of the key vendors in the augmented reality market.
The vendors in the market are constantly focusing on deploying various organic and inorganic growth strategies to compete in the market. Additionally, established industry participants are expected to acquire or enter into partnerships with small vendors to expand their product portfolios, enter emerging markets, and increase their market share.
For instance:
Download our free sample report to get a brief understanding about various other vendors and the vendors strategies.
Key Market Drivers
Our analysts have extensively outlined the information on the key market drivers and their impact on the augmented reality AR market.
AR has been notified as an emerging technology and a number of major players are significantly investing in technological innovations. Such technology is expected to be implemented in various social media platforms (for virtual communication), smartphones, various automotive devices and also in retail and healthcare industries. Moreover, AR platforms are operated by millions of users it possesses vast processing power as it has to deliver a large amount of data in real-time. Therefore, huge investments are to be done for storing a large amount of data as well as delivering significant results compelling various vendors to invest in AR technology and also engage in a number of partnerships and acquisitions. Thus, these huge investments are estimated to drive the augmented reality (AR) market growth during the forecast period.
To know about a few other market drivers, trends, and challenges.
Download our free sample report
Related Reports:
Augmented Reality (AR) Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 31.60% |
Market growth 2021-2025 |
$ 108.57 billion |
Market structure |
Fragmented |
YoY growth (%) |
29.15 |
Regional analysis |
North America, APAC, Europe, South America, and MEA |
Performing market contribution |
APAC at 35% |
Key consumer countries |
US, China, Japan, Germany, UK, and Canada |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Alphabet Inc., Dynabook Inc., Facebook Inc., Microsoft Corp., PTC Inc., Qualcomm Inc., Samsung Electronics Co. Ltd., Upskill, Vuzix Corp., and Zugara Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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