Over the course of the last year numerous reports have been created, focusing on the virtual reality (VR) and augmented (AR) markets. All these reports have forecast the rapid rise of VR and AR technology, over approximately the next five years. Newly released by market research company Research And Markets is a report on the mobile AR market for marketing and advertising in APAC, forecasting growth at a CAGR of 135.35% over the period 2015-2019.
AR is still in its infancy, compared with VR’s research and development, but it’s catching up with a large group of companies developing for the technology. Key vendors in the report include, Augmented Pixels, Aurasma, Blippar, Catchoom, Metaio, NGRAIN, Total Immersion, Wikitude and Zappar. Qualcomm was also included in the report and the mobile chip manufacturer has now sold its AR platform Vuforia to tech company PTC for $65 million USD.
The report covers the present scenario and the growth prospects of the mobile AR market for marketing and advertising in APAC for the period 2015-2019. It presents the vendor landscape and a corresponding detailed analysis of the major vendors in the market. The report covers the overall ecosystem of the market, including AR engine, AR software applications, and AR hardware.
Report by MarketsandMarkets predicts the MR (mixed reality) market could be worth $453.4 million USD by 2020.
With so many positive predictions on how these technologies are likely to progress in the next few years, the first crucial step will be 2016, when the virtual reality (VR) head-mounted displays (HMD’s) become widely available.