Augmented reality is a direct or indirect view of the real-world environment, which is augmented by computer-generated sensory inputs such as sound, graphics, video, or others. The perception of reality is enhanced with the help of simulation of real world using technology functions. The components of the digital world are brought into a perceived real world of a person.
Augmented Reality Market Key players operating in the industry are Magic Leap, Blippar, Sony, Google, Microsoft, Total Immersion, Infinity Augmented Reality, Apple, ODG, Aqri LLC, Wikitude, and others.
The user becomes interactive with the virtual environment created and digitally manipulative as well. Augmented reality has wide array of applications ranging from literature to commerce and military to music.
Rising technology penetration in healthcare, retail, automotive, and other sectors along with prevalence of mobile and smartphone devices drives the growth of global augmented reality industry. In addition, increase in investments in this technology and high adoption of AR-enabled smart glasses supplement the growth. Financial constraints and increasing privacy concerns hinder this growth. Rising usage of social media and applications along with technological advancements create growth opportunities in the industry.
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The global augmented reality market is segmented on the basis of
The component segment into
Based on display devices
smart glass and
Based on application
aerospace & defense
Middle East & Africa
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Key players operating in the industry are Magic Leap, Blippar, Sony, Google, Microsoft, Total Immersion, Infinity Augmented Reality, Apple, ODG, Aqri LLC, Wikitude, and others. These key players have formulated new product launches, expansion, collaborations, mergers & acquisitions, partnerships, joint ventures, and other strategies to maintain their competitive position in the industry.
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