Technological Innovation, New study report and forecast on “Augmented Reality Connected Service Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”
Albany, NY — (SBWIRE) — 02/09/2018 — Augmented Reality (AR) or enhanced version of reality is the collaboration of a virtual scene (computer generated) with the user's natural surroundings in real time, through devices such as head mounted devices, smart glass and head-up display. Expansion of physical reality through additional layers of computational information to the real environment for the experience of high resolution graphics is AR. Information in this context can be either text, sound, graphics or even smell. This simplifies human interaction of physical objects through digital devices, which means every object can be enriched with additional information.
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Collaboration of mobile phone and internet connectivity made the world hyper-connected, which transformed client-server and web based technologies to smart phone oriented. The next step ahead which makes communication hyper-real is when services for augmented reality comes into application. Though AR is in emerging stage of adoption, this technology is expected to offer various aids to warehousing operation, transportation optimization, last mile delivery and enhanced value added services. It offer new options for controlling real world object, as more and more smart objects are connected through internet.
AR has the potential to integrate new technologies such as pattern recognition, artificial intelligence (AI), robotics and machine learning. Moreover it can be applied to all parts of value chain that starts at product design & prototyping and ends at the assembly of all parts. This reduces formation time, as information can be directly provided on field, resulting in efficiency and effectiveness of value chain.
The increasing demand for AR, from 3D operating room simulation to centralized health center, this is resulting in market opportunities for augmented reality connected services to expand. As computing power and information access become easier through smartphones, which impacts AR hardware and software to strengthen connectivity and interaction. The flexibility offered by augmented reality that merge a real world with virtual images to create a virtual world, this is going to have a bigger impact on entertainment and ecommerce market. In areas such as digital prototyping and design reviews AR is going to save time which drives the market growth for augmented reality connected service in the forecast period.
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While the set of devices launched, are all expected to fall short of parameters that include higher frame rates, higher resolution and others, which is hinders market growth.
The global augmented reality connected service market is segmented on the basis of augmentation type, component and end user verticals. Based on augmentation type it is segmented into display, geospatial and recognition augmentation. The component segment is classified into hardware and software. Hardware segment is further categorized into head mounted display, smart glass, head-up display, handheld device, 3D cameras, sensors and semiconductor component. Moreover, on the basis of end user vertical, it can be segmented into aerospace & defense, consumer, medical, education, commercial and others.
In terms of regional market, Asia Pacific region has witnessed high growth in the past and is expected to dominate the augmented reality connected services market in the near future due to rising number of startups in the region. Moreover, North America followed by Europe is expected to show the growth in augmented reality connected services market. As many of the established companies are investing through strategic partnerships and collaborations with emerging players.
Some of the key vendor in the augmented reality connected service market includes NuFormer Projection B.V., Manus Virtalis Ltd., MindMaze SA, Blippar.com Ltd., Barco N.V., Machinae B.V., Nokia Corporation., EON Reality Inc., HTC Corporation., VirZOOM Inc., Oculus VR LLC, ZeroLight Ltd., Independiente Communications Ltd., Microsoft Corporation., Aurasma Ltd., Samsung Electronics Co. Ltd., and Google Inc., Infinity Augmented Reality Inc., Vuzix Corporation, Sony Interactive Entertainment LLC, and CyberGlove Systems Inc.
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