European Augmented Reality Market growth to outpace at 65% CAGR by 2023
Oct 22, 2019
Europe AR Market Size exceeded $383mn in 2017 and is projected to grow at over CAGR of 65% from 2018 to 2024
India - October 22, 2019 /MarketersMedia/ —
According to the Graphical Research new growth forecast report titled “Europe (AR) Augmented Reality Market analysis based on Components, Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 12 billion by 2024. The growing adoption of the technology by the entertainment & gaming sector is gaining momentum with the increasing interest of people in gaming products in the Europe AR Market. These products provide an enhanced gaming experience to the customers and are experiencing a high demand from the young generation. With the integration of AR technology into these products, the demand for these devices in the sector is growing at a rapid pace and is attracting the customers’ attention. Several manufacturers in the Europe AR Market are offering products based on this technology. For instance, Sony developed several games based on this technology such as Cliff Diving, Fireworks, and Table Soccer.
Request for a sample of this report @ https://www.graphicalresearch.com/request/1002/sample
A rise in the demand for head-mounted displays in several sectors such as healthcare and military & defense is driving the growth of the Europe AR Market. The applications of these devices in analyzing and testing of several diseases in the healthcare sector are boosting its need and importance. It assists surgeons and doctors in improving the visualization of the organs and parts. Several major players in the Europe AR Market are developing these products in the region. For instance, TRIVISIO Prototyping GmbH is the major European company, which develops head-mounted displays.
Application of AR technology in the defense sector is growing at a rapid pace in the Europe AR market. A rise in the demand for simulation-based training to provide real-life experiences of war conditions can be witnessed in European countries. It provides a simulated environment to the soldiers, allowing them to function in critical conditions and environments and experience the actual war conditions. Several manufacturers are offering these products to the defense sector. For instance, in October 2017, Serious Simulations entered into a contract to provide these products to the European army, which will allow them to provide simulation-based training to their soldiers.
Key players operating in the Europe AR Market are INDE, Vitualware, Daqri LLC, Blippar, Medsights Tech Corp, Google, Inc., and Microsoft Corporation. These players are offering their products in several industrial sectors and catering to the ever-increasing market demand. The players in Europe AR Market are adopting several strategies to capture the widespread customer base such as mergers and acquisitions. For instance, in May 2018, Google acquired Owlchemy Labs, which provides AR devices to extend the presence of the company and to offer advanced solutions.
Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1002/europe-AR-augmented-reality-market
Segments We Cover:
Europe Augmented Reality Market, By Component
Hardware
Head-mounted display
Heads-up displays
Smart glasses
Software
Europe Augmented Reality Market, By Application
Medical
Automotive
Aerospace & defense
Gaming
Retail
Industrial
Others
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Contact Info:
Name: Parikhit B.
Email: Send Email
Organization: Graphical Research
Website: https://www.graphicalresearch.com/industry-insights/1002/europe-AR-augmented-reality-market
Source URL: https://marketersmedia.com/european-augmented-reality-market-growth-to-outpace-at-65-cagr-by-2023/88929366
Source: MarketersMedia
Release ID: 88929366
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