Asia-Pacific Augmented Reality (AR) Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Report on Asia-Pacific Augmented Reality (AR) Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Augmented Reality (AR) is a technology that incorporated digital information with the user’s environment in real time, with Pokémon Go by Niantic being the most recognizable example thus far. It is used to enhance natural environments and the information about the surrounding real world of the user becomes interactive and can be digitally altered. AR is not to be confused with Virtual Reality (VR) as the former add digital elements to live view while the latter is a complete immersion experience that shuts out the real/physical world, creating an entirely artificial environment.
Global augmented reality market is expected to touch $100 billion within the next decade. The key factors contributing to this rapid growth are an increase in smartphone penetration and advancement in internet connectivity and computer technology. Currently, the North American market is the largest followed by Europe and Asia-Pacific markets. In the coming years, however, the latter will show the most growth, with almost a fifth of the market cornered by the continent. A rise in investment in commercial and defence activities is expected to drive market growth in the region. The foray into AR will be propelled by the rudimentary applications in smartphones before further going into the more important and profitable industries like automobile, healthcare, infrastructure, and defence.
AR systems offer three basic hardware components: processors, sensors, and displays. Constant innovations in hardware including the development of contact lens and advanced head mounted displays(HMD) equipped with AR processors can drive the growth of the segment. Based on display, the market can be classified into a head-mounted display (HMD), head-up display, and smart glass. HMD will dominate the market as they are currently doing with offerings from the likes of Microsoft, HTC and Google. Smart glass segment will contribute significant growth due to increasing demand in enterprise and industrial sector. Advancements in smart glasses with more miniaturization, better field of view, and improved battery life will further fuel growth of the segment.
In terms of the sectors, the market can be categorized in medical, gaming, automotive, aerospace, defence, e-commerce, and retail. With the advent of self-driving cars, AR will be an important part of the building and sustaining the industry. Traditional automobiles organizations like Volkswagen and BMW have introduced heads-up displays in their cars to take advantage of the upcoming technology. They have also set up research and development divisions catering to AR.
China, Japan, and South Korea will be the country’s leading the charge in penetrating the AR market thanks to the already solid existing foundation of technology, finances, and support from the stakeholders. China is the highest spender in augmented reality in the continent, though the adoption throughout the region is slower than the west. With increased globalization, other developing countries such as India and Singapore are expected to dip their toes in the lucrative market.
The major players operating in the region are already established technology companies like Samsung, Microsoft, Apple, Facebook, Amazon, Google, Qualcomm, Intel, Sony, and Seiko. Prominent start-ups like Magic Leap, Infinity Augmented Reality, Wikitude, Zugara and Blippar are some of the niche companies looking to corner the market. The AR market is a highly competitive market and is going to heat up further more as companies look to be the first one to the finish line in taking a significant portion of the proverbial augmented reality pie.
The report contains a comprehensive analysis on:
- Asia Pacific Augmented Reality Market Segments
- Asia Pacific Augmented Reality Market Drivers, Restraints and Opportunities
- Asia Pacific Augmented Reality Market Size & Forecast 2016 to 2023
- Supply & Demand Value Chain
- Asia Pacific Augmented Reality Market Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Asia Pacific Augmented Reality Market includes:
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macroeconomic factors, and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of volume and value
- Recent market trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage