Augmented Reality (AR) Market Is Expected To Reach USD 100.24 Billion By 2024 : Radiant Insights,Inc
San Francisco, July 04, 2016 (GLOBE NEWSWIRE) -- The Augmented Reality (AR) Market size is expected to reach USD 100.24 billion by 2024, according to a new report by Grand View Research, Inc. The AR market is expected to witness a substantial growth owing to advances in hardware technologies and sophisticated mobile software.
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Emerging trends such as mounting convergence between wearable devices, AR, and Internet of Things (IoT) are anticipated to drive demand. The convergence amongst these technologies is expected to provide more interactive and immersive user experience.
AR has been used efficiently in marketing and PR initiatives for television, motion picture and other media promotional campaigns. Hence, growing adoption of AR technology by the entertainment sector is projected to drive the market over the forecast period.
Rising conceptualization in entertainment-related plans is observed as a lucrative opportunity for the industry. For example, Magic Leap, an augmented reality company, is developing a technology called as Dynamic Digitized Lightfield Signal that shines on the retina of the user and allows interaction between fictional characters and the real world.
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Further key findings from the report suggest:
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