Augmented Reality to see rapid growth

July 27, 2017 //By Jean-Pierre Joosting
According to the latest research report from MarketsandMarkets™, the Augmented Reality (AR) market is expected to grow from USD 2.39 Billion in 2016 to USD 61.39 Billion by 2023, at a CAGR of 55.71% between 2017 and 2023.

The increasing demand for AR devices and applications in healthcare, increase in demand for AR in the retail and e-commerce, and rising investment in the augmented reality market are the major drivers for the augmented reality market.

Head-up displays (HUDs) for the augmentation of images are presently used in automotive, and aerospace and defense sectors for training purposes – the HUD market is still in the developing phase and is likely to commercialize in the near future. The recent Consumer Electronics Show (CES) 2017 demonstrated enormous opportunities and variations for head-up displays using the augmented reality, where the head-up display with AR was one of the most talked about innovations.

Head-up displays could be used for navigation in airplanes and automotives. The information on a roadmap and the speed along with the other necessary details in the line of sight would be displayed on windscreens enabling the driver to drive safely. The use of head-up displays in the applications such as automotive, and aerospace and defense would help the market to grow at a higher rate.