At a CAGR of 43% AR Handheld Device Market Growth Forecast to 2023

AR Handheld Device is expected to grow at a CAGR of 43% between 2016 and 2023 with Global Industry Details by Overview, Size, Top Manufacturers, Supply Demand and Shortage, Trends, Demand, Overview, Forecast to 2023

Florence, United States – January 15, 2020 /MarketersMedia/ —

The Augmented Reality Handheld Device Ecosystem includes Smartphones and Tablets. Augmented Reality has captured the attention of the top technology companies in the world and has been used for various industry applications. The growth of AR applications will allow customers to visualize a product’s specifications before purchasing it. Sephora, a fashion retailer and Modiface, an augmented reality developer, have worked together and created a virtual reality application that allows customers to virtually try on products offered by Sephora. It also allows users to virtually explore beauty products on their face. Later, in the year 2018 L’Oréal acquired Modiface.

In 2016, Home Depot has also launched an AR-based mobile app that allows its users to select a piece of furniture and view it virtually at their homes. The app can also be used in stores for locating the required item and for viewing the product description, etc. Such measures will help the companyy to gain more profits. AR Handheld Device is expected to grow at a CAGR of 43% between 2016 and 2023, which would have positive impact on the AR Handheld Device Market.

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AR Handheld Device Market: Segmentation
By Raw Materials: Silicon, GaN, Glass, Plastic, Sic, Metals and Others

By Components: Sensors, Camera, IMU, Processor, Modules, Graphics (Cards), Audio (ICs), Memory, Display, Others

By Service & Solutions: Documentation, Visualization, 3D Modelling, Navigation, Workflow Optimization, Others

By Applications: 3D modelling/ design, Training, Monitoring/ Maintenance, Others.

By End User: Consumer, Healthcare, Automotive, Aerospace, Defence, Logistics, Retail and others

In the healthcare industry, AR handheld device applications have laid a strong foundation, especially in the medical imaging systems that allow surgeons to diagnose and perform surgeries more accurately. One of the promising healthcare application of AR handheld devices is vein visualization. More than 40% of intravenous injection miss the vein at the first attempt. AccuVein uses Augmented Reality and Near-Infrared imaging for detecting veins in patients accurately.

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The AR portable scanner projects the vein accurately for the nurse and clinicians, which in turn, helps inject the patient’s vein accurately at the first go. Orca Health, founded in the year 2010, have introduced a new AR VR application “EyeDecide” that helps strengthen the relationship between the patient and the healthcare provider. This application helps patients better understand their Eye health. Medsights Tech, a company based in the US, has developed an AR app that recreates the three-dimensional representation of tumors. It helps medical professionals understand the depth of the tumor with high detailing.

As of 2019, Smartphone industry is one of the most prominent areas where AR Handheld devices are mostly used. Apple has been already working on Augmented Reality. Currently, Apple has about 1000 engineers for its ARVR initiative. The company has planned to launch its new iPad Pro with AR functions in the first half of 2020.

Further, the smartphone giant Huawei has introduced AR Measure application on its Huawei P30 Pro devices that also use a dedicated “3D Time of Flight” sensor. Another Chinese smartphone giant Oppo is planning to invest on advanced technologies such as AR VR, AI, etc. Google has introduced AR applications in its new Pixel 3A and the older version of pixel smartphone on May 2019 in the I/O conference. These are some of the key factors that are contributing to the growth of AR Handheld Device Market.

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