Global AR in Enterprise Market to be Worth USD 30,520 million by 2025
The new report by Zion Market Research on the ‘AR in Enterprise Market — Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 2025″ has a vast information about the market and its potential. The global AR in enterprise market was valued at around USD 720 million in the year 2016 and it is expected to reach more than USD 30,520 million by 2025. The global AR in enterprise market is expected to exhibit a CAGR of approximately 51% between 2017 and 2025.
In augmented reality technology, both virtual reality and the real world are combined together thus enriching the real world with digital information. Owing to its increased benefits augmented reality is being adopted in various sectors such as manufacturing, healthcare, education, retail, etc. Use of augmented reality technology helps in saving a lot of time and increases the product and work quality.
Although, there are several benefits offered by augmented reality technology there are some factors that are limiting the market growth. The cost of the software and devices that are used in this technology are high which restricts its implementation by the small and the medium enterprises. Insufficient knowledge about the technology limits its adoption.
Browse the full “AR in Enterprise Market by Component (Hardware and Software); by Display Device (Head-Mounted Display, Smart Glass, and Head-up Display); by Enterprise Size (SME’s and Large Enterprise); by Application (Automotive, Aerospace and Defense, Medical, Gaming, and Retail)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 2025”. Market report link.
Research analysts concluded that, even though the automotive sector contributed the major market share but an increasing adoption of the technology will be seen in the retail sector. Big brands have already adopted the AR solutions. By using AR solutions the retailers are impressing their customers with dynamic 3D images while remaining in reality. Owing to which the customers are able to see their products and engage with it in a new way.
The global AR in enterprise market is segmented on the basis of the component, display device, enterprise size, application, and the geographical regions.