DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/pm3p24/global_augmented) has announced the addition of the "Global Augmented Reality Market 2012-2016" report to their offering.
TechNavio's analysts forecast the Global Augmented Reality market to grow at a CAGR of 54.3 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for enhanced user experience. The Global Augmented Reality market has also been witnessing increasing partnerships or tie-ups between startups of this market and major players in the complementary markets. However, the inferior image quality of the objects captured by the augmented reality applications could pose a challenge to the growth of this market.
The key vendors dominating this space are Layar B.V., Metaio GmbH, Total Immersion, and Wikitude GmbH.
The other vendors mentioned in the report are Qualcomm Inc. and Zugara Inc.
Commenting on the report, an analyst from TechNavio's Hardware team said: "The Global Augmented Reality market is in its nascent stage, hence there are more startups than established firms in this market. Therefore, large companies are entering into partnerships with these startups to gain entry into this market and capitalize on the technology developed by these vendors. Further, such partnerships provide the startups with access to considerable funds to scale up their operations. As a result, the time to market is quicker than when commercialization is carried out by the startups themselves."
According to the report, the increasing availability of the augmented reality feature in electronic devices such as smartphones is increasing the visual experience of end-users significantly. This is because real-time 3D effects are applied to the objects captured by a camera and greatly enhance the visual experience of users. Moreover, augmented reality is rapidly gaining popularity in virtual applications such as gaming. Further, several companies are combining the effects of multi-touch and gesture recognition, thereby increasing the popularity of augmented reality among end-users.
Further, the report reveals that the key factor curtailing the growth of this market is the poor quality of the images captured by augmented reality applications.
For more information visit http://www.researchandmarkets.com/research/pm3p24/global_augmented