Almost everywhere in the tech community, the three biggest things are IoT, Virtual Reality (VR), and Augmented Reality (AR). Of course, sensors and sensor technologies play a major role in each of these technologies.
On the AR side of things, a recently released study by Technavio indicates that the global augmented reality (AR) market is expected to grow at a CAGR beyond 65% during the forecast period from 2017 to 2021. In addition to analyses of market revenues and trends, the report includes analysis and forecasts of a variety of market segments and all geographical regions.
The study categorizes the global AR market into three product segments:
- Mobile devices
- Smart glasses
- Head-mounted displays (HMDs)
Mobile devices are expected to grow at a CAGR of close to 78% by 2021. In 2017, several large companies such as Facebook, Apple, and Google are likely to launch augmented reality apps as the awareness and interest in augmented reality technology increases among users.
For smart glasses, the market is expected to grow at a CAGR of more than 69% by 2021. Since users of these devices are mostly in the enterprise sector, the ASP of smart glasses is likely to remain the same throughout the forecast period.
For HMDs, growth is expected to surpass at a CAGR of 35% by 2021. HMDs are widely used by enterprises in the healthcare and engineering sectors along with the government in the defense and aviation sector. The present market offerings are expensive but are also more sophisticated in terms of functionality.
Top AR Hardware/Semiconductor OEMs:
- Rockwell Collins
- Technical Illusions
AR technology is also finding its way into other markets such as healthcare, retail, travel, service and maintenance, and advertising. To request a sample report, CLICK HERE