North America Augmented Reality Market to hit $19bn by 2024

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According to the Graphical Research new growth forecast report titled “North America (AR) Augmented Reality Market analysis based on Component, Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024”, estimated to exceed USD 19 billion by 2024.

Emerging applications of AR devices in the retail sector are growing at a rapid pace in North America AR market. The applications of this technology in the sector are attracting the customers and providing them with information about the products & services of the company. Several retail companies have installed these devices in their stores, providing visual merchandising of these products. For instance, Charlotte Tilbury has installed magic mirror AR technology. It has partnered with Holition, a software provider to install such mirrors.

Head-Mounted Displays (HMD) are experiencing a high growth in the North America AR market. The growing demand for this technology in the defense sector is encouraging the manufacturers in the region to provide HMDs, which will serve the purpose of simulation-based training. This technology can be used to provide training to the soldiers to survive critical conditions in different situations, places, and environments, and to develop their skills and provide them real-life experiences of war conditions. In 2019, the U.S. Army is planning to test the AR system HUD 3.0, which will provide the information about the location of enemies and their units. They are developing a system, which will be helmet-mounted to project all the information at the sight of the soldier.

The applications of the technology in the healthcare sector are providing advanced techniques to analyze and test the disease of a patient. These devices are used for describing the symptoms by the patients, finding the veins & organs, and providing them proper medications depending on the type of the disease that has affected them. Several major players in the North America AR market are offering technologies, which will support the healthcare applications. For instance, Medsights Tech is working on creating a software, which will test the feasibility of the AR technology in creating 3D reconstruction images of tumors.

The key players operating in the North America AR market include Facebook, HTC, Intel, AccuVein, Inc., Affectiva, Inc., APX Labs, Google, Inc., and Microsoft Corporation. These players in the North America AR market are targeting the healthcare sector wherein a high demand for these devices can be witnessed for the treatment of several diseases. In February 2018, Intel Corporation developed AR smart glasses, which project the information directly to the retina of the observer.

Segments we Cover:

North America Augmented Reality Market Statistics, By Component

  • Hardware
  • Software

North America Augmented Reality Market Trends, By Application

  • Medical
  • Automotive
  • Aerospace & defense
  • Gaming
  • Retail
  • Industrial

The above information is provided for the following countries:

  • U.S.
  • Canada