Article

Categories

Europe Augmented Reality Market size to exceed $12bn by 2024

Europe AR Market Size exceeded $383mn in 2017 and is projected to grow at over CAGR of 65% from 2018 to 2024

The growing adoption of the technology by the entertainment & gaming sector is gaining momentum with the increasing interest of people in gaming products in the Europe AR Market. These products provide an enhanced gaming experience to the customers and are experiencing a high demand from the young generation. With the integration of AR technology into these products, the demand for these devices in the sector is growing at a rapid pace and is attracting the customers’ attention. Several manufacturers in the Europe AR Market are offering products based on this technology. For instance, Sony developed several games based on this technology such as Cliff Diving, Fireworks, and Table Soccer.

europe-ar-market-(1).png

According to the Graphical Research new growth forecast report titled “Europe (AR) Augmented Reality Market analysis based on Components, Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 12 billion by 2024.

A rise in the demand for head-mounted displays in several sectors such as healthcare and military & defense is driving the growth of the Europe AR Market. The applications of these devices in analyzing and testing of several diseases in the healthcare sector are boosting its need and importance. It assists surgeons and doctors in improving the visualization of the organs and parts. Several major players in the Europe AR Market are developing these products in the region. For instance, TRIVISIO Prototyping GmbH is the major European company, which develops head-mounted displays.

Application of AR technology in the defense sector is growing at a rapid pace in the Europe AR market. A rise in the demand for simulation-based training to provide real-life experiences of war conditions can be witnessed in European countries. It provides a simulated environment to the soldiers, allowing them to function in critical conditions and environments and experience the actual war conditions. Several manufacturers are offering these products to the defense sector. For instance, in October 2017, Serious Simulations entered into a contract to provide these products to the European army, which will allow them to provide simulation-based training to their soldiers.

Key players operating in the Europe AR Market are INDE, Vitualware, Daqri LLC, Blippar, Medsights Tech Corp, Google, Inc., and Microsoft Corporation. These players are offering their products in several industrial sectors and catering to the ever-increasing market demand. The players in Europe AR Market are adopting several strategies to capture the widespread customer base such as mergers and acquisitions. For instance, in May 2018, Google acquired Owlchemy Labs, which provides AR devices to extend the presence of the company and to offer advanced solutions.

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
Instagram Growth Strategies: 9 Practical Ways to Maximize Engagement and Growth

Instagram Growth Strategies: 9 Practical Ways to Maximize Engagement and Growth

Effective Instagram growth strategies are essential for maximizing your marketing campaign, increasing engagement, and boosting conversions. Think of your Instagram strategy for business growth as a campfire. It doesn...

Mos Clement
Mos Clement 26 January 2024
Read more
The Impact of New Technology on Marketing

The Impact of New Technology on Marketing

Technology has impacted every part of our lives. From household chores to business disciplines and etiquette, there's a gadget or app for it. Marketing has changed dramatically over the years, but what is the...

Alex Lysak
Alex Lysak 3 April 2024
Read more
How to Review a Website — A Guide for Beginners

How to Review a Website — A Guide for Beginners

A company website is crucial for any business's digital marketing strategy. To keep up with the changing trends and customer buying behaviors, it's important to review and make necessary changes regularly...

Digital Doughnut Contributor
Digital Doughnut Contributor 25 March 2024
Read more
10 Factors that Influence Customer Buying Behaviour Online

10 Factors that Influence Customer Buying Behaviour Online

Now is an era where customers take the center stags influencing business strategies across industries. No business can afford to overlook factors that could either break the customer experience or even pose a risk of...

Edward Roesch
Edward Roesch 4 June 2018
Read more
Sales and Marketing Collaboration: A Recipe for B2B Success

Sales and Marketing Collaboration: A Recipe for B2B Success

In the world of B2B, the age-old rivalry between Sales and Marketing often overshadows the potential for a fruitful partnership. Yet, when these two departments align their goals, strategies, and efforts, the results...

Zsofia Raffa
Zsofia Raffa 12 September 2024
Read more