March 19, 2020
As per the report titled ‘Europe (AR) Augmented Reality Market Size By Component, Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024’, available with Market Study Report LLC, Europe (AR) augmented reality market is projected to cross USD 12 billion by the year 2024.
Growing adoption of AR technologies in the entertainment and gaming sector is positively impacting the market growth. Preference for enhanced gaming experience is boosting the sales for AR based gaming products and video games among the young population. Increasing development of games designed with AR feature will augment the market growth during the forecast period. For instance, Sony has developed several AR compatible games such as Fireworks, Cliff Diving, and Table Soccer.
According to the report, head-mounted displays segment is witnessing an escalating demand from the healthcare sector as these devices are used in analyzing and testing of various diseases. Improved visualization of body parts and organs facilitated to surgeons and doctors is encouraging the product adoption across the healthcare sector.
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Europe AR market from defense segment is anticipated to see considerable growth over the forecast timeline, owing to growing use of AR technologies for simulation-based training. Effective training of soldiers through the virtualization of real-life conditions and environment is propelling the product usage across the military & defense sector.
Virtualware, INDE, Daqri LLC, Medsights Tech Corp, Blippar, Microsoft Corporation, and Google, Inc. are the major participants of Europe (AR) augmented reality market. These market majors are undertaking various strategies such as collaborations and new product development to gain a competitive edge and improve their market share.
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