Augmented Reality(AR) Market in Europe is projected to surpass $12bn by 2024
Posted: Oct 06, 2018
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.
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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.
Browse key industry insights from this 2018 report Europe (AR) Augmented Reality Market in detail along with the table of contents at:
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.
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Segments We Cover:Europe Augmented Reality Market, By Component
- Head-mounted display
- Heads-up displays
- Smart glasses
- Aerospace & defence
The above information is provided for the following countries:
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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services.