European Augmented Reality Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)

Report on European Augmented Reality Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)

Introduction to European Augmented Reality Market

Augmented reality (AR) is an interactive experience of a real-world environment where the objects that reside in the real-world are “augmented” by computer-generated perceptual information. The first AR systems were invented in early 1990s. The first commercial augmented reality experiences were used largely in the entertainment and gaming industry. Augmented reality as a technology is now being extensively used in many sectors such as education, health, gaming and knowledge sharing. In the European market, the growing adoption of the technology by the entertainment and gaming sector is gaining traction with the increasing interest of people in gaming products. The massive success of mobile AR game ‘Pokemon Go’ is a testament to that. The game grabbed billions of downloads on various mobile platform when it was launched in 2016 on mobile devices. AR is now being integrated more deeply into various software platforms to enhance their utility and appeal.

Market Dynamics

AR as a technology has really made an impacting dent in the tech atmosphere and the penetration is only going to shoot up. The market size exceeded $383mn in 2017 and is expected to grow at a CAGR of 65% from 2018 to 2024. AR is being used extensively into various products used for gaming, business, animation, marketing, healthcare, education, military & defence etc. With the integration of AR into these products, the demand of these devices is growing at a rapid pace. This demand is driving the market forward. Several players are competing in the market offering various product laden with AR technology. The demand is highest in gaming domain and makes up for major share of revenue for AR market in Europe. Also, a growing demand for head-mounted displays in several sectors such as healthcare and military & defence is driving the growth of European AR market. Several major players in Europe are manufacturing these products leading to increases market presence of AR devices.

 

Market segmentation

European AR market can be segmented based on Component and Application

By Component: Hardware, Head-mounted display, Heads-up displays, Smart glasses, software

By Application: Medical, Automotive, Aerospace& defence, Gaming, Retail, Industrial, others

 

Opportunities

European AR market is heading for an exponential growth as demand for AR products is spiking. The demand is being generated across various segments such as smart glasses, gaming, health care, education and defence. As the technology is gaining prominence, more and more market players are entering the market. The European smartphone market is expected to grow at a CAGR of 65% from 2018 to 2025, which is very high rate of growth. The rate given an indication of extent of expansion AR technology is going to achieve in near future. AR utilities can become a de-facto solution for many challenges in sectors such as education, health, defence, governance etc. As the technology will find its place on various platform, the use and acceptance will rise as well. Smartphone maker companies such as Apple and Google are producing AR-enabled mobile phones and making it the selling point of their phones. Smart glasses can make a very valuable use of AR for various purposes and their demand is on rise. Applications of such technologies are also gaining momentum in automobile sector owing to integration of these techniques with several applications such as test drive, designing stage and innovative support service tools. Countries such as Germany and France have a high availability of automobile manufacturers, which are adopting this technology, driving the European AR market growth.

Key Players:

Vitualware

INDE

Blippar

Google,

Microsoft

 

The report contains a comprehensive analysis on:

  • European Augmented Reality Market Segments
  • European Augmented Reality Market Drivers, Restraints and Opportunities
  • European Augmented Reality Market Size & Forecast 2016 to 2023
  • Supply & Demand Value Chain
  • European 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 European Augmented Reality Market includes:

  • Western Europe
    • EU5 (Germany, France, Italy, Spain, U.K.)
    • Nordic Countries (Denmark, Finland, Norway, and Sweden)
    • Benelux (Belgium, The Netherlands, and Luxembourg)
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe

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.

 

Report Highlights

  • 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

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