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.
Report Brief
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.
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.
List of Figures
1. Market research process
2. Market research methodology
3. Global AR in Enterprise market revenue, 2016 - 2022(USD Million)
4. Porter’s five forces analysis
5. AR in Enterprise market attractiveness analysis, by Component segment
6. AR in Enterprise: Market attractiveness analysis, by Display device segment
7. AR in Enterprise: Market attractiveness analysis, by Enterprise size segment
8. AR in Enterprise: Market attractiveness analysis, by Application Segment
9. AR in Enterprise: Market attractiveness analysis, by regional segment
10. Company market share analysis, 2016
11. Global AR in Enterprise market revenue share by Component, 2017 and 2025
12. Global Software market, 2016 – 2025 (USD Million)
13. Global Hardware market, 2016 – 2025(USD Million)
14. Global AR in Enterprise market revenue share by the Display device, 2014 and 2022
15. Global AR in Enterprise market for Head-Mounted Display, 2016 – 2025, (USD Million)
16. Global AR in Enterprise market for Smart Glass, 2016 – 2025, (USD Million)
17. Global AR in Enterprise market for Head-up Display, 2016 – 2025, (USD Million)
18. Global AR in Enterprise market revenue share by Enterprise size, 2014 and 2022
19. Global AR in Enterprise market for SME’s, 2016 – 2025, (USD Million)
20. Global AR in Enterprise market for Large Enterprise, 2016 – 2025, (USD Million)
21. Global AR in Enterprise market revenue share by Application, 2014 and 2022
22. Global AR in Enterprise market for Automotive, 2016 – 2025, (USD Million)
23. Global AR in Enterprise market for Aerospace and Defense, 2016 – 2025, (USD Million)
24. Global AR in Enterprise market for Medical, 2016 – 2025, (USD Million)
25. Global AR in Enterprise market for Gaming, 2016 – 2025, (USD Million)
26. Global AR in Enterprise market for Retail, 2016 – 2025, (USD Million)
List of Tables
1. AR in Enterprise market: Market Snapshot
2. Drivers of global AR in Enterprise market: Impact analysis
3. Restraints of global AR in Enterprise market: Impact analysis
4. North America AR in Enterprise market revenue, by Component, 2016 – 2025 (USD Million)
5. North America AR in Enterprise market revenue, by Display device, 2016 – 2025 (USD Million)
6. North America AR in Enterprise market revenue, by Enterprise size, 2016 – 2025 (USD Million)
7. North America AR in Enterprise market revenue, by Application, 2016 – 2025 (USD Million)
8. Europe AR in Enterprise market revenue, by Component, 2016 – 2025 (USD Million)
9. Europe AR in Enterprise market revenue, by Display device, 2016 – 2025 (USD Million)
10. Europe AR in Enterprise market revenue, by Enterprise size, 2016 – 2025 (USD Million)
11. Europe AR in Enterprise market revenue, by Application, 2016 – 2025 (USD Million)
12. Asia Pacific AR in Enterprise market revenue, by Component, 2016 – 2025 (USD Million)
13. Asia Pacific AR in Enterprise market revenue, by Display device, 2016 – 2025 (USD Million)
14. Asia Pacific AR in Enterprise market revenue, by Enterprise size, 2016 – 2025 (USD Million)
15. Asia Pacific AR in Enterprise market revenue, by Application, 2016 – 2025 (USD Million)
16. Latin America AR in Enterprise market revenue, by Component, 2016 – 2025 (USD Million)
17. Latin America AR in Enterprise market revenue, by Display device, 2016 – 2025 (USD Million)
18. Latin America AR in Enterprise market revenue, by Enterprise size, 2016 – 2025 (USD Million)
19. Latin America AR in Enterprise market revenue, by Application, 2016 – 2025 (USD Million)
20. Middle East and Africa AR in Enterprise market revenue, by Component, 2016 – 2025 (USD Million)
21. Middle East and Africa AR in Enterprise market revenue, by Display device, 2016 – 2025 (USD Million)
22. Middle East and Africa AR in Enterprise market revenue, by Enterprise size, 2016 – 2025 (USD Million)
23. The Middle East and Africa AR in Enterprise market revenue, by Application, 2016 – 2025 (USD Million)
This report is based on in-depth qualitative and quantitative analyses of the global AR in Enterprise market. Zion Market Research has collected and analyzed key data belong to the global AR in Enterprise market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of AR in Enterprise across the world has been calculated through primary and secondary research.
Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the AR in Enterprise industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the AR in Enterprise market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
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