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Augmented Reality Market Size
- Report ID: GMI695
- Published Date: Dec 2017
- Report Format: PDF
Augmented Reality Market Size
Augmented Reality (AR) Market size exceeded USD 1 billion in 2016 and is predicted to grow at a massive CAGR of over 65% from 2017 to 2024. The shipments are poised to register growth of over 75% till 2024. Ongoing technological advancements coupled with the increasing demand for the technology in surgical visualization and healthcare education are anticipated to drive the industry growth. The technology provides real-time data and assists healthcare professionals during complicated surgical procedures. It helps to improve and secure the patient’s treatment by minimizing the risks associated with invasive surgery processes.
The applications of computer-generated perceptual information related to visual, auditory, haptic, somatosensory, and olfactory will improve patient education and outcomes. These tools can also detect the signs of depression and other mental illnesses by reading the patients’ facial expressions, voice tones, and physical gestures. The integration of AI with technology is further transforming the healthcare industry.
| Report Attribute | Details |
|---|---|
| Base Year: | 2016 |
| Augmented Reality Market Size in 2016: | 1 Billion (USD) |
| Forecast Period: | 2017 to 2024 |
| Forecast Period 2017 to 2024 CAGR: | 65% |
| 2024 Value Projection: | 50 Billion (USD) |
| Historical Data for: | 2013 to 2016 |
| No. of Pages: | 242 |
| Tables, Charts & Figures: | 385 |
| Segments covered: | Component, Software, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Increasing smartphone penetration in developing economies is expected to boost the AR market. in June 2019, Vivo Communication Technology Co. Ltd. announced the launch of 5G smartphone with AR glass, supporting the dual screen display and Six Degrees of Freedom (6DoF) technology. The smartphones include several applications such as mobile office, AR games, 3D high-definition video, facial recognition, and object recognition.
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Augmented Reality Market Scope
