Technavio says in a new report that the global mobile augment and virtual reality apps market is set for staggeringly impressive gains in the years ahead.
The report suggests that market is expected to grow at a CAGR of more than 74% during the period 2016-2020, per a summary obtained by VRJournal.
“The growth of the market in the enterprise segment is driven by the demand for custom mobile AR apps from industries such as automotive, fashion, logistics, healthcare, and retail. Mobile AR apps are used to increase brand awareness and product sales,” says Ujjwal Doshi, a lead human machine interface research expert from Technavio.
Technavio’s hardware and semiconductor research analysts segment the global mobile AR and VR apps market into the following regions: EMEA, Americas, and APAC.
“In 2015, with a market share of over 48%, EMEA emerged as the leader in the global mobile AR and virtual reality VR apps market, followed by the Americas with over 44% and APAC with a little over 8%,” the report announcement concludes.
For the report’s corresponding infographic, check out VRJournal here.