Augmented Reality Solution Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Businesses are using Augmented Reality solutions for tracking, identifying, and resolving technical issues as well as for tasks, such as retrofitting, assembling, manufacturing, and repairing production lines. The growing preference among individuals for smartphones, smart glasses, and other handheld and wearable devices is driving the adoption of mobile AR technology to provide immersive experiences. As such, companies are particularly exploring the potential of AR technology to offer a customized and interactive experience to customers.

MARKET SCOPE

The "Global Augmented Reality Solution Market Analysis to 2031" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the augmented reality solution market with detailed market segmentation by solution, organization size, end user, and geography. The report provides key statistics on the market status of the leading augmented reality solution market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on solution, the global augmented reality solution market is segmented into on premise, cloud
  
•   On the basis of organization size, the market is segmented into small and medium enterprise, large enterprise
  
•   Based on end user, the market is bifurcated into BFSI, automotive and manufacturing, retail, IT and telecom, others
  

MARKET DYNAMICS

Drivers:

•   Increasing demand for AR devices and applications in healthcare.
  
•   Growing demand for AR in retail and e-commerce sectors.
  
•   Rising investments in augmented reality market.
  

Restraints

•   Security and privacy issues associated with augmented reality
  
•   Excessive usage of augmented reality can incur health issues
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The augmented reality solution market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the augmented reality solution market in these regions.

IMPACT OF COVID-19 ON AUGMENTED REALITY SOLUTION MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the augmented reality solution market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from augmented reality solution market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the augmented reality solution market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Amplexor
  
•   Artivive GmbH
  
•   Augmania
  
•   INDE
  
•   Magic Leap, Inc.
  
•   MojoApps
  
•   PlugXR, Inc.
  
•   TeamViewer
  
•   QUYTECH
  
•   Augment
  
  

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Augmented Reality Solution Report Scope