Wearables and augmented reality are growing markets. Wearable devices like smart watches and fitness trackers are expected to grow significantly over the next few years. The wearables market was worth $390 billion in 2017 and is expected to continue expanding rapidly. Augmented reality is also an emerging market focused on overlaying digital content on the real world. The augmented reality market was valued at $5.1 billion in 2016 and is projected to have a compound annual growth rate of 95% through 2016. Both wearables and augmented reality face challenges in designing for fashion, ensuring privacy, and developing compelling use cases to drive mainstream adoption.
22. Market size
• $181.25 million – 2011
• $5,155.92 million – 2016
• CAGR of 95.35% from 2011 to 2016
• Developer investment in AR applications
– $670 million – 2013
– $2.5 billion - 2018
– Source: ABI Research
Source: Markets & Markets
23. Market structure
• By products (where used)
– smartphones (the most attractive)
– Tablets (2nd place)
– eye wear
– head mounted displays
– head up displays
• By applications
– Consumer
• gaming market, e-learning, GPS, online advertisement
– Industrial
• defense, medical, and manufacturing and repair
– Retail & travel are among others interesting directions