North American augmented reality market is estimated to grow significantly at a CAGR of 36.8% during the forecast period. The major augmenting factors for the market include the presence of major market players including Apple Inc., Microsoft Corp., and Thales Group, and so on in the region. Moreover, these major companies are making funding for AR startups in the region for the development of AR technology in North America. Magic Leap, Unity Technologies, Lytro, NextVR, MindMaze, Blippar, and Meta and so on are some AR-based startups situated in the North American region.
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The market is segmented on the basis of device type, technology, components, application, and country. Based on the device type market is sub-segmented into the head-mount, head-up, handheld. Based on technology the market is sub-segmented into monitor based technology and near eye based technology. Based on offering, the market is bifurcated into software and hardware. Based on the application, the market is segmented into individual, consumer, and others (automotive, defense, tourism, healthcare, apparels & Accessories). Based on the country the market is segmented into the US and Canada.
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Car manufacturers including General Motors, Ford, Tesla motors and so on in the North American region are looking to enhance safety and personalize and augment the driving experience by building AR technology into newer car models. Driverless cars are also growing at a very fast pace in this region, as many major companies such as Google, Amazon, Tesla, and Baidu are working on it.
The US military is using a head-mounted display device called, TAR, which integrates the GPS information typically relayed via handheld devices into night vision goggles. Increasing adoption of AR for different applications such as entertainment, automotive, healthcare, telecommunication, infrastructure in public and private sectors is further contributing towards the growth of the AR market in the North American region.
North America Augmented Reality Market Segmentation
By Device Type
• Monitor Based Technology
• Near Eye Based Technology
• Others (Automotive, Defense, Tourism, Healthcare, Apparels & Accessories)
• Intellectsoft LLC
• Magic Leap, Inc
• Microsoft Corp.
• PTC Inc.
• Qualcomm Technologies Inc.
• Rokid Corp. Ltd.
• Seiko Epson Corp.
• Thales Group
• Universal mCloud Corp. (NGRAIN)
• Vuzix Corp.
• Wayray AG
• Zugara, Inc.
• Apple, Inc.
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