There’s lots of speculation about how the emerging augmented reality (VR) market will grow over the next few years. The latest report by Research and Markets estimates the global mobile AR market to grow at a CAGR of 89% during the period 2016-2020.
The Global Mobile Augmented Reality Market 2016-2020 report, has been prepared by the firm based on an in-depth market analysis. The report covers the industry landscape and its growth prospects over the next four years and includes a discussion of the key vendors operating in this market. Research and Markets considered the revenue generated by vendors that develop AR engines and software, to help calculate its findings.
Due to the widespread use of smartphones and tablets by consumers, and the proliferation of mobile AR apps, these are seen as the driving force for the AR market. Industries such as automotive, fashion, logistics, healthcare, and retail will increase demand for these apps and technologies as they seek to enhance brand awareness and product sales.
Vendors named in the report include: Augmented Pixels; Aurasma; Blippar; Catchoom; DAQRI; Metaio; Wikitude; Google; Infinity Augmented Reality; Inglobe Technologies; NGRAIN; VividWorks; Seabery; Snaploader; Total Immersion and Zappar.
VRFocus will continue its coverage of the AR market, reporting on the latest news concerning its growth.