The global artificial intelligence market will see a compound annual growth rate (CAGR) due to an increase in healthcare devices and e-commerce, according to a new report from Million Insights (

The rise in investment in the AR market along with proliferation of devices in the gaming and entertainment market also contributes to the market enlargement, adds the research group. Technological advances and availability of creative workforce adds to the market growth during the forecast period.

Million Insights says that, by offering, augmented reality (AR) market is segmented as sensor displays, cameras and projectors. By device type, the market is segmented into head-mounted, head-up and handheld. The application segment for augmented reality industry comprises commercial, automotive, consumer and enterprise.

Geographical segmentation for augmented reality market comprises North America, South America, Europe, Asia-Pacific, Middle East and Africa. APAC regions are projected to rise at a higher rate during the forecast period owing to technological inclination towards advanced technologies for vision and perception. 

Million Insights says North American and European markets are likely to grow at a robust CAGR owing to presence of AR studios, technological revolution and advances in VFX technology. The key players in augmented reality (AR) industry include Apple, Magic Leap, Daqri LLC, Blippar, Sony, Wikitude, Microsoft, PTC, Google, Infinity Augmented Reality, CyberGlove SystemsInc, ODG, Eon Reality Inc and Samsung Electronics.

The accompanying image is courtesy of the Future of Life Institute.