Global Augmented Reality Connected Service Market: Snapshot

Augmented Reality (AR) is primarily an integration of digital information with environment on the real-time. It can be understood as a service technician checking for the operations of a complex machine or an engineer providing remote-assistance for the installation of an equipment or a customer imagining how a certain furniture would fit into his living room. Emerging as a tool for powerful digital experiences, AR is primed to revolutionize a number of aspects of everyday life and pave ways for a number of industry verticals to improve the efficiency of their production procedures. As smartphones and tablet cameras go ubiquitous, the demand in the global augmented reality connected service market is projected to multiply at an exceptional CAGR during the forecast period of 2017 to 2025.

Augmented reality has shown the possibilities of integrating new technologies such as the Internet of Things (IoT), artificial intelligence (AI), pattern recognition, machine learning, and robotics. Some of the common examples of augmented reality for connected service can be self-service wherein a user gains knowledge in a digitally enhanced manner or guides himself through a questionnaire to rectify maintenance issues. A number of industries that relate with providing assistance on the run time, such as healthcare and automotive breakdown, can provide field services with information of previous recorded incidents and asset information on the finger tips. The global augmented reality connected service market is also anticipated to gain strong demand from business to business (B2B) and business to client (B2C) industries by enabling enhanced service results and improve user experience to entice sales. In the near future, thanks to the rapid expansion of the augmented reality connect service market, companies will not only be able to achieve greater savings by redefining their service functions but also offer improved after-sales customer experience.

Augmented Reality (AR) or enhanced version of reality is the collaboration of a virtual scene (computer generated) with the user's natural surroundings in real time, through devices such as head mounted devices, smart glass and head-up display. Expansion of physical reality through additional layers of computational information to the real environment for the experience of high resolution graphics is AR. Information in this context can be either text, sound, graphics or even smell. This simplifies human interaction of physical objects through digital devices, which means every object can be enriched with additional information.

Collaboration of mobile phone and internet connectivity made the world hyper-connected, which transformed client-server and web based technologies to smart phone oriented. The next step ahead which makes communication hyper-real is when services for augmented reality comes into application. Though AR is in emerging stage of adoption, this technology is expected to offer various aids to warehousing operation, transportation optimization, last mile delivery and enhanced value added services. It offer new options for controlling real world object, as more and more smart objects are connected through internet.

AR has the potential to integrate new technologies such as pattern recognition, artificial intelligence (AI), robotics and machine learning. Moreover it can be applied to all parts of value chain that starts at product design & prototyping and ends at the assembly of all parts. This reduces formation time, as information can be directly provided on field, resulting in efficiency and effectiveness of value chain.

The increasing demand for AR, from 3D operating room simulation to centralized health center, this is resulting in market opportunities for augmented reality connected services to expand. As computing power and information access become easier through smartphones, which impacts AR hardware and software to strengthen connectivity and interaction. The flexibility offered by augmented reality that merge a real world with virtual images to create a virtual world, this is going to have a bigger impact on entertainment and ecommerce market. In areas such as digital prototyping and design reviews AR is going to save time which drives the market growth for augmented reality connected service in the forecast period.

While the set of devices launched, are all expected to fall short of parameters that include higher frame rates, higher resolution and others, which is hinders market growth.

The global augmented reality connected service market is segmented on the basis of augmentation type, component and end user verticals. Based on augmentation type it is segmented into display, geospatial and recognition augmentation. The component segment is classified into hardware and software. Hardware segment is further categorized into head mounted display, smart glass, head-up display, handheld device, 3D cameras, sensors and semiconductor component. Moreover, on the basis of end user vertical, it can be segmented into aerospace & defense, consumer, medical, education, commercial and others.

In terms of regional market, Asia Pacific region has witnessed high growth in the past and is expected to dominate the augmented reality connected services market in the near future due to rising number of startups in the region. Moreover, North America followed by Europe is expected to show the growth in augmented reality connected services market. As many of the established companies are investing through strategic partnerships and collaborations with emerging players.

Some of the key vendor in the augmented reality connected service market includes NuFormer Projection B.V., Manus Virtalis Ltd., MindMaze SA, Ltd., Barco N.V., Machinae B.V., Nokia Corporation., EON Reality Inc., HTC Corporation., VirZOOM Inc., Oculus VR LLC, ZeroLight Ltd., Independiente Communications Ltd., Microsoft Corporation., Aurasma Ltd., Samsung Electronics Co. Ltd., and Google Inc., Infinity Augmented Reality Inc., Vuzix Corporation, Sony Interactive Entertainment LLC, and CyberGlove Systems Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Augmented Reality Connected Service Market

Pre Book