March 19, 2020
As per the report titled ‘North America (AR) Augmented Reality Market Share By Component, Application Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024’, available with Market Study Report LLC, North America (AR) augmented reality market is projected to cross USD 19 billion by the year 2024.
Increasing utilization of AR devices in retail sector is stimulating the growth of North America AR market. Enhanced information and visual merchandising of the products and services are underlying factors favoring the installation of these devices across retail stores.
Based on the component type, head-mounted displays (HMD) segment is witnessing an escalated demand across North America, as the device extensively used in defense sector for simulation-based training. High effectiveness in training soldiers to survive in different critical situations is encouraging the product adoption. Innovations such as helmet-mounted AR system HUD3.0 capable of providing information about the enemies’ location, their units and other important data, will bolster demand for head-mounted displays in the ensuing years.
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Speaking of the application spectrum, North America AR market from healthcare segment is expected to grow considerably over the forecast timeline. Growing application of AR in advanced techniques for analyzing diseases and diagnosing patients is driving the segment growth. Ongoing developments such as Medsights Tech’s software which can create 3D images of tumors through the use of AR will further enhance the segment growth.
Major contenders of North America (AR) augmented reality market are HTC, Facebook, Intel, Affectiva, Inc., AccuVein, Inc., APX Labs, Microsoft Corporation, and Google, Inc.
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