New ARC Advisory Group research reveals the upside of the COVID-19 pandemic that hastened the adoption of Augmented Reality (AR), for industrial maintenance and operations. Augmented reality uses computer technology to augment the user’s real-world environment with digital content. With AR, digital media is superimposed over part of the user’s field-of-view to augment what they see. While AR is not a new concept, all the advancements in various areas such as computer vision, sensing technologies, data storage, displays, and software technologies, have now made augmented reality a much more practical solution for consumer, commercial, and industrial adoption. Although, still in the early stages of the AR revolution, we are seeing an explosion of augmented reality startups, thanks to all the interest by the venture capital (VC) world. The market outlook remains positive for industrial augmented reality solutions. Building upon growing adoption prior to 2020, the pandemic accelerated the use of AR technology, particularly to support remote collaboration.
"While the pandemic decelerated growth for many technologies, it actually boosted the adoption of augmented reality solutions. The industrial world is leveraging AR technology for a range of applications from operations and maintenance, to training. While simple training procedures can be created for smartphones and tablets, advanced training programs require more sophisticated hardware such as mixed reality headgear. The use of AR for simplifying maintenance tasks by helping end users collaborate more effectively using AR tools remains the most popular application," according to Inderpreet Shoker, Analyst and key author of ARC's Augmented Reality Market Research Report.
Augmented Reality Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows.:
- Rising Popularity of Metaverse
- Remote Collaboration for Effective Maintenance
- Interest in Mobile Solutions
- Incorporation of AR Tools by Automation Players
- Efforts to Overcome Skills Gap
- Digital Transformation Picks Pace
Leading Suppliers to the Augmented Reality Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Librestream, Microsoft, PTC, RealWear, TeamViewer.
About the Augmented Reality Research
The Augmented Reality report explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts and 1 year of historical analysis segmented by World Region, Industry, Revenue Category, Application Type, and Sales Channels.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include:
- Market Intelligence Workbook (Excel Power Pivot): A standard Workbook includes the base year market data and a five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports. Available with 1 year of historical analysis.
- Concise Market Analysis Report (PDF): This wide-screen presentation format provides executives, business unit managers, and other authorized users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.