Spatial Augment Reality Market - Forecast(2024 - 2030)

Spatial Augmented Reality Market size is forecast to reach $5.89 billion by 2025, estimated to grow at a CAGR of 8.93% during 2020-2025. The growing development in the display technology and the need for advanced mobile-based augmented reality are thereby boosting the spatial augmented reality market. Moreover, the use of projector-based augmented reality for providing high-definition images or video in order to enhance audience experience are boosting the spatial augmented reality market size during the forecast period 2020-2025.

The report: “Spatial Augmented Reality Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Spatial Augmented Reality Market.

By Display: Projection (Surround Screen and Panoramic), Desktop Configuration (Embedded Screen, Wall, Diagonal Screen and Transparent Screen)

By Application: Aerospace, Automotive, Business, Art & Entertainment (Movie, Live event) and others

By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina, Ecuador, Peru, Colombia, Costa Rica and others), Europe(Germany, UK, France, Italy, Spain, Russia, Netherlands, Denmark and Others), APAC(China, Japan India, South Korea, Australia, Taiwan, Malaysia and Others), and RoW (Middle east and Africa)

Art & Entertainment segment held the largest market share in the Spatial Augmented Reality market in 2019. Augmented reality adds virtual imagery that enhances user experience and also leads to combine real and virtual content in real time. This significant use of spatial augmented reality for providing attractive real-time imagery through projection on effective display screen are highly enhancing the art and entertainment industry. Additionally, the demand for streaming upgraded gaming and for high-definition videos and images are also driving the growth of the entertainment industry. These key factors are thus propelling the growth of the spatial augmented reality in the art and entertainment application.

In 2019, North America dominated the Spatial Augmented Reality market with a share of more than 46.7%, followed by Europe and APAC. The increasing investment in the media and entertainment industry in the US is set to propel the growth of spatial augmented reality market in North America. According to 2018-2023 Entertainment & Media Outlook software, the US media and entertainment industry is expected to reach $825 billion by 2023. Moreover, the adoption of spatial augmented reality by the automotive industry in the North American region will further boost the growth of the market.

The automobile companies are highly adopting dashboard mounted display graphics in order to provide camera footage in vehicles. This display technology has helped vehicles to reduce the occurrence of accidents and has also helped in identifying landmarks. Additionally, with the deployment of advanced display technology results in identifying frequently used lanes, navigational prompts, detection of hazards, information about the right direction and so on. These significant use of dashboard mounted display graphics will lead to surge the Spatial Augmented Reality market.

The increasing demand for enhanced visual experience has led to the use of real-time projection-based augmented reality system. This system easily implements the graphical representation by using ordinary lighting techniques. This technique projects high-definition image or video, and also results in changing the object shape visually. The use of projection-based augmented reality has highly enhanced the spatial augmented reality with enhanced audiences viewing experiences in real-time.. Thus, the growing need for real-time visual content significantly spur the growth of the market.

Spatial Augmented Reality companies are unable to detect legal issues which include privacy and safety concerns that lead to massive regulation. Moreover, there are no regulations which could help businesses and consumers to understand the type of spatial augmented reality can be utilized and processed. This lack of regulatory compliance also results in cybercriminal that manipulates or hacks the AR content. Hence, this significant challenge of spatial augmented reality can affect the privacy and security of consumer data, thus hindering the adoption of this technology. 

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Spatial Augmented Reality market. In 2019, the market of Spatial Augmented Reality has been consolidated by the major players – Apple Inc., Airbus, Topcon Corporation, ESRI, Intermap Technologies, Autodesk, Cybercity 3D, Mitsubishi Electric, Udemy and Trimble.