AR in Enterprise Market by Component (Hardware and Software); by Display Device (Head-Mounted Display, Smart Glass, and Head-up Display); by Enterprise Size (SME’s and Large Enterprise); by Application (Automotive, Aerospace and Defense, Medical, Gaming, and Retail)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016– 2025

Global AR in enterprise market is expected to reach more than USD 30,520 million by 2025 and is exhibit a CAGR of approximately 51% between 2017 and 2025. Software and hardware are the two components used in the augmented reality technology. Among them, the major market share of 60% was contributed by hardware in 2016.

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02-Apr-2018 | Number of pages: 110 | Report Code: ZMR-2733 | Report Format : | Status : Published

Abstract

Report Brief

  • The report covers the forecast and analysis for the AR in enterprise market on a global and regional level.
  • The report includes the positive and the negative factors that are influencing the growth of the market.
  • Market opportunities are discussed in detail in the report.
  • The key target audience for the market has been determined in the report.
  • The revenue generated by the prominent industry players has been analyzed in the report.
  • The market numbers have been calculated using top-down and the bottom-up approaches.
  • The AR in enterprise market has been analyzed using Porter’s Five Forces Analysis.
  • The market is segmented on the basis of the component, display device, enterprise size, and application, which in turn are bifurcated on a regional level as well.
  • All the segments have been evaluated based on the present and the future trends.
  • The report deals with the in-depth quantitative and qualitative analyses of the AR in enterprise market.
  • The report includes the detailed company profiles of the prominent market players.

Market Summary

Overview

Augmented reality is a technology makes use of virtual reality and the real world. The technology enriches the real world experience by making use of the media and the digital information such as 3D images, videos, and models. While comparing virtual reality with augmented reality technology, virtual reality provides a completely artificial environment while augmented reality makes use of the real-time environment and adds new digital enhancements in it.

Value

The AR in enterprise market was valued at around USD 720 million in the year 2016 and it is expected to reach more than USD 30,520 million by 2025. The global AR in enterprise market is expected to exhibit a CAGR of approximately 51% between 2017 and 2025.

Drivers and Restraints

The major factor driving the growth of AR in enterprise market is the increasing demand for the technology from various industries such as medical, retail, aerospace, and defense, etc. The AR technology in the healthcare sector is proving beneficial in saving lives and in making the existing procedures efficient and precise. In the education sector, augmented reality has improved the way of learning and training. Increased benefits of the augmented reality technology are driving the market positively.

Moreover, increasing investment in augmented reality market by the key players in the industry is expected to propel the growth of AR in enterprise market globally. The high-resolution pictures and real-time imaging provided by AR improves the consumer experience, hence the demand for AR is increasing in the retail sector globally.

However, for installing the software and software updates strong and large storage system is required. The less storage and restricted size of the memory card in mobile phone limits the adoption of the augmented reality apps. Other factors limiting the growth of the market are the high cost of the software and devices and lack of knowledge about the technology.

 Global AR in Enterprise Market

Segmentation

Software and hardware are two essential components of AR in enterprise solutions. Key hardware components used in augmented reality technology includes cameras, sensors, semiconductors, position trackers, projection display, etc. Whereas, the software components include software development kits, software functions, and cloud-based services. On the basis of the component, the hardware segment accounted for the major market share in the global AR in enterprise market. In 2017, more than 60% of market share was contributed by the hardware segment. For the utilization of augmented reality applications terminal devices with intense hardware, modules are very vital. The key functions such as visibility and operating effects depend on the quality of hardware. Thus the rising demand for the technically advanced and easy to operate hardware for augmented reality is expected to propel the growth of hardware segment over the forecast period. 

A head-mounted display, heads-up display, and smart glass are the three major types of displays used in AR in enterprise market. The head-mounted display segment is expected to register the highest CAGR growth of 52.2% between 2017 and 2025. The head-mounted display is one of the basic components in the headsets. It offers advanced vision along with high-resolution 3D images and viewing. The rising adoption of a head-mounted display in augmented reality and decreasing cost of HMDs are factors propelling the growth of this segment in the global market in the coming years. Moreover, the demand for the AR-based heads-up display is also increasing in the aviation and automotive industry thus propelling the growth of the heads-up display segment in the coming years. 

The AR technology is being highly adopted by the large enterprises. Owing to the need for the high investments in the technology currently large enterprises are contributing the major share in the global market. Large enterprises invest in advanced technologies in order to increase their output. By making use of AR technology they train their employees and also enhance their customer experiences. In 2017, a major market share of over 60% was contributed by the large enterprises. However, it is anticipated that in the forecast period small and mid-sized enterprises will also be highly embracing this technology owing to its benefits.

Augmented reality technology is being highly used in several sectors such as healthcare, retail, automotive, gaming, etc. Among these, the automotive sector accounted for the major market share of over 31% in 2017. It is anticipated that this dominance will be retained during the forecast period. In the coming years, there will be an increased adoption of the AR technology in enhancing the driver’s experience. Information will be displayed to the drivers via the windscreens with the help of AR technology. AR technology will help in visualizing the general design and the body structure of the vehicle thus benefitting in the manufacturing process. Owing to these increased benefits of AR technology in the automotive sector its popularity will increase in the coming years.

North America is leading in the global AR in enterprise market with a huge market share of over 37% in 2017. The early and the increased adoption of the advanced technologies is the key factor driving the growth of the market in this region. Followed by North America, Europe also holds a significant share in the global AR in enterprise market. Increasing adoption of the augmented reality technology in the automotive sector contributed to the growth of the market in Europe.  The strong display manufacturers present in the emerging nations such as China and Japan are contributing to the growth of the AR in enterprise market in the Asia Pacific.

Industry Players

The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report areas Apple Inc., Blippar, CyberGlove Systems LLC, Daqri LLC, Eon Reality, Inc., Facebook Inc., Google LLC, HTC Corporation, Magic Leap, Inc., Marxent Labs LLC, Qualcomm, PTC Inc., Microsoft, Rockwell Collins, Samsung, Upskill, Vuzix Corporation, Wikitude GmbH., among others.

The increasing product launch, growing strategic collaboration, and partnership among the top players of the AR in enterprise market is significantly contributing towards the growth of the market globally. For instance, in November 2017, the Apple had acquired augmented reality headset startup Vrvana. The acquisition of Vrvana is expected to significantly contribute to the new product development for AR in enterprise. 

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