The Latin America, Middle East and Africa Augmented Reality Market would witness market growth of 50.5% CAGR during the forecast period (2020-2026).
With the help of augmented reality, retailers can engage and expand their abilities in a completely different manner. Augmented reality offers myriad possibilities. This is especially true when it is integrated with evolving wireless technology, which enables the incorporation of mobile devices and home appliances, to offer an improved and connected experience for the consumers. There is a massive development possibility in healthcare and biotechnology, which will further boost the market growth of augmented reality over the forecast period.
Presently, augmented reality is regarded as one of the highest growing technology trends. Moreover, this trend will flourish more in the forthcoming years as AR-enabled smartphones and other devices could be more accessible across the globe. AR technology allows a person to experience a real-life environment in front of him – kids playing in the garden, birds sitting on the trees, dogs chasing balls, - with a digital augmentation overlaid on it. For instance, the dogs could be mingling with their cartoon equivalent and a bird could be observed landing on the trees.
As AR technology grows more, the difference between these examples and what might be already available on our smartphones becomes less. In fact, augmented reality is easily accessible and being utilized in multiple ways that include various shopping apps that allow you to try clothes without even leaving home, Snapchat lenses, and in apps that assist you to locate your car in a crowded parking area.
Based on Component, the market is segmented into Hardware and Software. Based on Device, the market is segmented into Head Mounted Display, Head up Display, Hand Held Devices, Smart Glass and Others. Based on End User, the market is segmented into Consumer, Enterprise, Commercial, Healthcare, Automotive, Aerospace & Defense and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google, Inc., Apple, Inc., Microsoft Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Sony Corporation, Qualcomm, Inc., Vuzix Corporation, PTC, Inc., Lenovo Group Limited and Alibaba Group Holdings Limited.
Scope of the Study
Market Segments covered in the Report:
• Head Mounted Display
• Head up Display
• Hand Held Devices
• Smart Glass
By End User
• Aerospace & Defense
• Saudi Arabia
• South Africa
• Rest of LAMEA
• Google, Inc.
• Apple, Inc.
• Microsoft Corporation
• Samsung Electronics Co., Ltd. (Samsung Group)
• Sony Corporation
• Qualcomm, Inc.
• Vuzix Corporation
• PTC, Inc.
• Lenovo Group Limited
• Alibaba Group Holdings Limited.
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