Global augmented reality market promises strong growth

DUBLIN, IRELAND: A recent Research and Markets report reveals that the global augmented reality market to grow at a CAGR of 132.2 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing number of applications.

The global augmented reality market has also been witnessing the rapid development of network infrastructure. However, the high cost of augmented reality devices could pose a challenge to the growth of this market.

The key vendors dominating this market space are Layar B.V, Metaio GmbH, Total Immersion, and Wikitude GmbH.

An analyst from the team said: The global telecommunication market is continuously upgrading the technology and protocols used for communication. While developed countries are switching from 3G to 4G networks, developing countries are switching from 2G to 3G networks.

Such instances indicate the upgrading of the global telecommunication network, enabling vendors in the online software and application space to connect strongly with their target customers. Moreover, the introduction of customer-friendly mobile internet packages is further driving the demand for mobile internet applications such as augmented reality applications. Therefore, the rapid development of network infrastructure is a major trend that is expected to propel the growth of the global augmented reality market.

Augmented reality is used in many sectors such as defense, education, consumer electronics, industrial, and healthcare.