The global augmented reality market to grow at a CAGR of 65.24% during the period 2017-2021.
Global Augmented Reality Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is use of SLAM technology. Simultaneous localization and mapping (SLAM) is a popular and important autonomous mapping and navigation technology for mobile robotics. Though the technology has been around since the late 1980s, it is only now gaining traction in the market. It was first used in the eyes of NASA robots to create maps of unknown environments and position devices with extreme accuracy.
According to the report, one of the major drivers for this market is increasing dependence on apps and proliferation of AR apps for numerous activities. A mobile app is a software developed for use in small-sized wireless computing devices such as smartphones and tablets. The large-scale adoption of smartphones globally has increased the use of AR apps. People have become dependent on apps as they make life simple. Further, the report states that one of the major factors hindering the growth of this market is lack of AR content. There are a large number of AR apps available in the market. These apps are developed mostly by individuals and companies. However, the majority of these apps fail to meet user expectations and become a success, thereby reducing the growth potential and acceptance of AR among consumers. The majority of the apps fail to meet customers' expectations because they lack content and do not have the feature of adding new or additional content.