Imagine wearing a pair of glasses with the computing power of a smartphone, activated by your voice, which recognizes what you see, where you are, and the context in which you are operating. While such a world is some years away from reality, first-mover advantage in AR is such a valuable prize that every large technology company is investing significantly in this theme.
Ultimately, AR technology may replace the smartphone as the primary connected device users carry around. Moreover, AR will be a critical component of the metaverse - the next mega-theme that Big Tech has in its sights.
- The AR market, worth $7bn in 2020, will generate revenues of $152bn by 2030, according to GlobalData estimates. Clearly, the threat to the smartphone market is not imminent. Indeed, smartphones are used to support AR applications in both the consumer and enterprise markets.
- AR is evolving into a utility in specific consumer and enterprise applications. On the consumer front, AR is primarily used in social media, gaming, and ecommerce. While Pokemon Go and Snapchat Lenses have helped popularize AR as a tool for entertainment, ecommerce is using it as a utility. In addition, upcoming metaverse platforms will integrate AR-related technologies, helping to bring AR to the fore.
- In a GlobalData survey conducted in Q2 2021, respondents perceived AR as the most disruptive technology, ahead of artificial intelligence. COVID-19 has fueled enterprise adoption of AR across sectors such as healthcare, law enforcement, and manufacturing, mainly for remote collaboration. Businesses will continue to adopt AR in the coming years, but the high cost of headsets and smart glasses will be a barrier to widespread adoption in the short term. However, by 2030, enterprises will account for the largest share of the AR market by revenue.
- This report provides an overview of the augmented reality theme.
- It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into four categories: technology trends, macroeconomic trends, regulatory trends, and media trends.
- It includes comprehensive industry analysis, including forecasts for augmented reality revenues to 2030. These forecasts are split by end-user (consumer and enterprise) and platform (hardware and software). There is also market share information for the AR smart glasses and AR headsets markets.
- It contains details of M&A deals driven by the augmented reality theme, and a timeline highlighting milestones in the development of augmented reality.
- The detailed value chain shows comprises five segments: semiconductors, components, devices, platforms, and applications and content. Leading and challenging vendors are identified across all five segments.
Reasons to Buy
- AR is still developing as a technology but is beginning to move into the mainstream.
- Leading tech companies are scrambling to build sustainable AR ecosystems and gain a foothold in this potentially lucrative market, while specialist firms focus on areas like content development.
- This report tells you need to know about AR, including market forecasts to 2030 and profiles of the leading companies.