Motion creates emotion!
Phygital Marketing iswhen physical world integrates the digital world and bridges gap between offline users and online consumers. In other words, the action from users that requires a Sense of Urgency , while making sure they engage with the brand, immerse in the experience & the product while getting value-add out of it & have real-time conversations are the requirements for a successful phygital marketing.
The core idea is to make sure we can get users to interact physically using offline and online medium with objects, products, services, visuals etc that we otherwise see on a regular basis, but don’t necessarily engage with it in the real sense of the term.
A wonderful example would be:
Another example of phygital marketing is of:
2. A retailer in Brazil who introduced in-store real-time Facebook “Like” feeds on clothing hangers for specific products. The focus was to help potential buyers with their purchasing decision by showcasing how many likes or how popular that product is with so many others and this was happening in with a live stream feeds of LIKES. Users can use that information either way, as in, one could decide how popular it is or if its too common and you do not want to make that purchase depending on how you see it as a consumer. for eg some users would love to purchase products, clothing etc if its a trend and very popular while others might feel its too mainstream and now become very common.
As a digital marketer, your focus should not be merely to force purchases from prospects or have a pitch to sell all the time, but to predict the emotions that drive consumers to buy via the ‘mood retail’ concept, as in, driving decisions to engage based on insights and data about consumers.
Few more wonderful examples of Phygital marketing:
3. The Golden State Warrior Stephen Curry led the NBA in three-pointers and he even became the first player to everscore 400 of them in a season. Capitalizing on that buzz, Under Armour teamed up with the NBA 2K16 video game in a Droga5 campaign. In this Curry even outperformed the video game version of himself. Best part was that, that was focus of the social campaign which was “BreaktheGame”
Because Curry is so good at the awesome three pointers he even outperformed the video game version of himself. That’s the focus of the social campaign, #BreaktheGame. During NBA finals, every time Curry scored a three-pointer, a three-second video was released. In each video, focus was that he will do a trick that his alter ego wasn’t programmed to perform. Very cool way to engage.
4. Intel partnered with Adidas to display shoes in their ins-stores (but shoes that were actually out of stock). It was designed by U.K. shop Start Creative, in which the display rendered products in 3-D, and allowed prospects / shoppers to even spin, zoom in on the shoes, check out the specs from a touch-screen display and completely engage in an immersive experience virtually while in the store of products that were very new or not in stock as of now.
5.The Olympics: Conversations: The amount of negative and positive emotions in Tweets referencing the Olympics was reflected in a nightly light show during the games, with yellow as positive, green neutral and purple negative.
Best way to plan and win at a Phygital marketing campaign is:
Video Marketing Statistics for 2018.
As digital marketing evolves, we continue to see trends favoring video! Here are some quick and easy video marketing statistics to use to convince your boss to invest in that video project, YouTube ads, or simply qualify your Snapchat habit.
82% of Twitter users watch video content on Twitter
YouTube has over a billion users, almost one-third of total internet users.
45% of people watch more than an hour of Facebook or YouTube videos a week.
More than 500 million hours of videos are watched on YouTube each day.
More video content is uploaded in 30 days than the major U.S. television networks have created in 30 years.
87% of online marketers use video content.
72 Hours of video are uploaded to YouTube every 60 seconds.
One-third of online activity is spent watching video.
85% of the US internet audience watches videos online.
The 25-34 (millennial) age group watches the most online videos and men spend 40% more time watching videos on the internet than women.
Over half of video content is viewed on mobile.
92 percent of mobile video viewers share videos with others.
90% of Twitter video views happen on a mobile device.
Periscope users have created more than 200 million broadcasts.
10 million videos are watched on Snapchat per day.
51% of marketing professionals worldwide name video as the type of content with the best ROI.
Marketers who use video grow revenue 49% faster than non-video users.
59% of executives agree that if both text and video are available on the same topic, they are more likely to choose video.
Social video generates 1200% more shares than text and images combined.
[NEW] You can now use GIFs in Facebook ads! We tried it out ourselves, and on the first day the ad below outperformed any other live Facebook ad we were running.
Video drives a 157% increase in organic traffic from SERPs.
Videos up to 2 minutes long get the most engagement.
85% of Facebook videos are watched without sound.
Video on a landing page can increase conversions by 80% or more.
Native videos on Facebook have 10 times higher reach compared to YouTube links.
(Sprout Social’s Video Engagement)
The average CVR for websites using video is 4.8%, compared to 2.9% for those that don’t use video.
Having a video on a landing page makes it 53% more likely to show up on page 1 of the SERP.
46% of users act after viewing an ad.
An initial email with a video receives an increase click-through rate by 96%.
Cisco states that Live internet video will account for 13 percent of the total video traffic in 2018 (via Forbes).
Video attracts two to three times as many monthly visitors.
Blog posts incorporating video attract 3x as many inbound links as blog posts without video.
Combining video with full-page ads boosts engagement by 22 percent.
Viewers retain 95% of a message when they watch it in a video compared to 10% when reading it in text.
Internet video traffic made up 69% of all global consumer Internet traffic in 2017.
By 2019, internet video traffic will account for 80% of all consumer Internet traffic.
The average user spends 88% more time on a website with video.
Instagram video vs. photo: 7 surprising statistics
With Instagram offering a wealth of opportunities for publishers and brands alike, here’s how top publishers are strategizing around video vs. photos on the platform.
Instagram has gone through a mountain of changes last year, adding features like Instagram Stories, live-streaming, and carousel photo albums. These features are delivering too — more than 250 million users create Instagram Stories everyday, according to a recent report.
With so many new features, how are publishers dividing their content and how do engagements for different formats stack up?
Let’s look again at the top publishers of both original photo and video on Instagram, using NewsWhip Analytics. We’ll add our news and interest publishers from last week’s analysis in as well, so that we’re looking at 30 successful media brands on Instagram and their strategies. These are the top ten publishers we surveyed in this analysis.
With NewsWhip Analytics, it’s easy to drill down into specific Instagram handles and examine their strategies, winning formats and posts. We can start by looking at the output of photo vs. video for these top publishers in May 2017.
Almost 67 percent of posts from these 30 engaging publishers were photo posts, while 33 percent were videos. Only eight of the 30 publishers posted more video content than photo content in May. Bleacher Report posted 479 videos to 201 photos, with the next biggest differences coming from Barstool Sports (216 to 20) and BBC News (154 to 12).
Has video output changed since last year? In NewsWhip Analytics, we can set our timeframe back to May 2016 to check. If we look at the top producers of original video content in May 2017 vs. May 2016, there are some stark differences.
Sports Illustrated, People Magazine, and TIME have seen almost 90 to 100 percent increases in their video output from May 2016 to May 2017. When Instagram first launched video, there was a 15 second time limit. Now, Instagram videos can be as long as 60 seconds, giving publishers more time to make an impact.
So we’ve looked at output around video, but how do the engagements stack up for video vs. photo? We used NewsWhip Analytics to dig into the average engagements of video and photo posts from our top Instagram publishers.
Among the top media publishers on Instagram, we can see that the average engagements for photos are higher than they are for video. But we can also see how these averages have grown between now and last May.
While the average engagements for photos have increased by 46.4 percent, the average engagements for video posts have increased by 53 percent, showing that engagement growth for video is outpacing photos.
What if we went into likes and comments? Does one format work better lend itself better to driving likes or comments?
While photos tended to drive more likes per post for the top publishers, videos drove more comments on average.
This could be because with video, users are pausing and taking the time to view it. This creates a larger window of opportunity for engagements, rather than when users scroll through their feed and double-tap photos just to like them.
Have publishers’ efforts to produce more video content pay off in terms of engagements? We took a look at the top engaging creators of Instagram video from our analysis to find out.
Total video engagements weren’t necessarily dependent on output. National Geographic only produced 51 videos, yet had the third biggest total of Instagram likes and comments on its videos. BuzzFeed Tasty and Vogue also posted under 50 videos, but made it onto this list.
BBC News was the biggest news-focused producer of video, with 154 Instagram videos in May. However, the publisher came in 18th for video engagements.
What about average engagements? Did these publishers see their video engagements come from one key hit, or were their videos equally successful?
There were overlap with eight of the publishers who had the most total engagements and those who had the highest amount of average engagements per video. These publishers have honed their video strategy to be effective across each video.
What were the top videos and photos for our 30 publishers? What trends can we discern from their strategy?
Since National Geographic unsurprisingly dominated the charts for both photo and video, we instead looked at the top photo and video from each of the top ten publishers for each format.
These were the top video posts of the most engaging Instagram video publishers that we analyzed. Since Instagram is so visual, we can look at what those videos’ looked like in their preview for a better idea of what’s working on the platform.
These videos are full of people; in many of them we can see close-up looks at the emotions playing across their faces. The ones from National Geographic and Tasty offer a visual feast for the eyes. Sports videos also work well — the action-packed antics translate well to digestible video snippets.
Meanwhile these were the top photos of the most engaging Instagram photo publishers that we analyzed.
Again, to get a better idea of what the visual trends are behind these top photos, we can look at the top photos themselves. People again feature predominantly, primarily celebrities. But even the two animal-focused posts are close-up, showcasing the human-like emotions on their faces.
What were the differences between the top photo and the top video posts for these publishers? The top video tended to let users relive thrilling moments, especially for sports, or get an inside look into something they wouldn’t typically see, such as the behind-the-scenes video from Vogue at the Met Gala, or The Dodo’s video of a cute pig.
For photos, some trends stayed the same. National Geographic still showed something out of the ordinary to its followers, and E! News, Vogue, and People Magazine’s top photos came from close shots with favorite celebrities.
Creating a collective experience works well. Bleacher Report did a shoutout to an athlete’s achievement, which others could join in on the congratulations. Both People Magazine and Bleacher Report Football appealed to followers’ emotions.
It’s also interesting to note that crossposting other publishers, brands, or users’ content is acceptable on Instagram, and can even add a boost to engagements.
As Instagram continues to roll out new features, it’s worth experimenting with what works with your followers. Some publishers have seen measured success come from mixing their strategy up between video and photo.
Try NewsWhip Analytics to explore the leading Instagram trends from any publisher, blog, or brand. Or, try NewsWhip Spike to see the Instagram photos and videos going viral right now. By keeping a pulse on what’s trending on social, you can make sure you’re reaching the right audience, with the right format and the right story, at the right time.
It is getting easier for people to shoot and edit video themselves. This is changing how people interact with media. There is more of it created than ever and it can be marketed directly to us. Creating suggestions for our needs once we’ve milked one genre of content dry. In the battle for our attention video is powerful. Watch how quickly we’ll submit 10, 20, 30 seconds of our time. What we might get is worth it. We know that the video is finite and can be stopped instantly if we don’t like it. Someone is going to tell us something and it won’t take very long. We like that.
We have the statistics to prove video is popular already and is only getting more so. Annual global IP traffic is now measured in zettabytes. 1 zettabyte is equal to one thousand exabytes, one exabyte is one billion gigabytes. Cisco predicts that 82% of all consumer internet traffic will be video by 2020. In 2015 that figure was 70%.
One billion different people visit YouTube each month, a site dedicated to video. Only Facebook has a higher monthly unique users. Mark Zuckerberg has himself said within 5 years most of Facebook will be video.
Despite the death of Vine, new ways to record, edit and share video keep cropping up. Apps like Snapchat and Instagram are generational hits. Live-streaming is even more accessible through Facebook’s adoption and is making headlines. Virtual and augmented reality offer new avenues for video makers to explore.
There are 2.1 billion smartphone users in the world, by 2019 this is expected to be 5 billion. That’s billions of networked cameras coming online. Millions of people everyday become able to share videos with family, friends and the world at large. In 2015 mobile data accounted for around 5% of total traffic, Cisco expect this to reach 16% by 2020. As more networked cameras come online more video content is inevitable.
Videos have a way of sucking us in. The effort it takes to watch a video is minimal. Everything is told to you, you don’t usually have to go fetch the meaning yourself. Autoplay has taken many afternoons. Binge-watching on-demand video has become a past time according to consultancy firm Deloitte. They found 70% of American consumers binge watch TV shows, with an average session lasting five episodes. Streaming services have won a place in many hearts too, 61% of those surveyed ranked them in their top three up from 17% in 2012.
There’s a shift towards digital telecommunications worldwide. Analog services as increasingly being replaced where they already exist and skipped in favor of digital where they don’t. Television is the last stronghold of analog communication and cable. But internet companies are making inroads on prime-time. Digital media players like Chromecast are becoming more popular, allowing people to escape the TV guide (not to mention cable rent) and start programming themselves.
Ultimately content is king. Analog can’t compete with the choice available online. YouTube Red has mostly just fed the appetite of YouTube subcultures, a promotion for their top creators, but Mind Field could have been broadcast on television. Netflix Originals have revived TV shows like Arrested Development and made productions of their own that have won acclaim and viewers. Information in general as well as entertainment is being made to move. As mentioned earlier Mark Zuckerberg has said he expects Facebook to be mostly video within a few years, news and sports are both popular- if legally contentious- on social media and the internet.
Deloitte also found people aged between 14 and 25 spend more time watching video online than on TV. This trend is unlikely to change in future generations and pretty much seals the deal on video. In reality the television as a screen will still be in homes. It is just that television, in addition to telephones, will simply become history. The OIP in VOIP stands for over-internet-protocol. As the youth of today turn into the middle aged of tomorrow, video over protocol will be the norm and the TV just another computer.
The internet provides new ways for small businesses to find customers. It opens up the possibility of video marketing, i.e. adverts, whereas previously they would have not been viable. Television advertising space (time) is finite, the internet is not bound by the same constrictions. What-you-see-is-what-you-get (WYSIWYG [wizz-ee-wig]) editors reduced the barrier to entry on web design, they’ll do the same for videos. The consumer is now a producer. Snapchat is creating a huge generation of editors and cinematographers.
What the effect of more video watching will be on the world is hard to say. Anomie. Infantilised, instant gratifiers. Informed e-citizens. Healthy and unhealthy habits one and all, you have to have self-control if you’re going to stay attentive. Watching videos is never going away, unlike this article. End.
The success of the Go Pro action camera revolves largely around one man’s dream, the device’s inventor and current CEO of the GoPro, Inc. Company, Nick Woodman. In the late 1990s – early 2000s, Woodman, a California native and passionate surfer, came up with the idea of an affordable camera attached to the wrist. It would allow amateur users to take professional-looking action pictures, while leaving them the freedom to ride waves. After having raised funds by selling beads out of his car and receiving a generous investment from his parents, the young inventor proceeded to launching the first GoPro camera, which used 35 mm film, in 2004.
Woodman started promoting his product, called GoPro 35mm Hero, directly to tradeshows and surf shops on the West Coast. In 2006, as digital cameras were becoming more and more popular and their technology increasingly affordable, the company (then still known as Woodman Labs, Inc) launched its first Digital Hero, a camera capable of recording video as well. According to Forbes, the small company, which only had two other employees aside from Woodman, managed to raise the revenue level to 800 thousand U.S. dollars in 2006 and some 3.4 million U.S. dollars the following year.
Following its success, GoPro kept on improving its line of mountable and wearable cameras, which the company refers to as capture devices, by adding the HERO2, HERO3, HERO3+ HERO4 and HERO5 cameras. Once HD technology became readily available and consumer demand for better quality images increased, GoPro moved on to launch a series of HD HEROs, boasting options such as wireless access to the internet, image sensors and increased internal memory. In addition to its capture devices, the company also manufactures a range of accessories enabling users to film in any conditions, such as chest harnesses and head straps, and from any surface, as mounts for helmets and handlebars. Furthermore, GoPro has developed two software applications: GoPro Studio, a video editing tool helping users to create videos from their GoPro footage, and the GoPro App, which enables users to remotely control their GoPro capture device using a smartphone or tablet. A YouTube channel posts content filmed with GoPro products, in order to promote them and the company’s lifestyle brand.
In 2016, GoPro reported worldwide revenues of over 1.19 billion U.S. dollars, with the majority resulting from sales from the Americas region.
Source : http://bit.ly/2GZYZqg
Action cameras are used to capture extreme action sports or activities. These cameras can capture high-speed and high-quality images. Regular cameras are incapable of capturing high-speed actions and are not designed for rugged conditions, including extreme weather. By contrast, action cameras are compact, lightweight, designed for rugged conditions, and can be worn by the person or mounted on vehicles.
An increase in the number of new vendors is one of the major trends in the market. The market is experiencing rapid growth and is attracting many new players. The entry of new players is expected to have a subsequent effect on the price, features, and quality of action cameras. This is expected to be beneficial for consumers, as action cameras with enhanced quality and features are expected to be available at low prices.
According to the report, the popularity of social networking sites such as Facebook, Twitter, and Instagram, is one of the major drivers of the Global Action Camera market. End-users share images and videos of their sports activities captured through action cameras on these sites, thus increasing the demand for these cameras. Vendors provide advanced product features to give an enriching customer experience. This helps to boost sales of action cameras.
Further, the report states that the popularity of smartphones is one of the major growth inhibitors. The declining prices of smartphones, coupled with enhanced features that offer better image and video quality, are the main factors responsible for the popularity of smartphones.
Global action camera market 2017-2021
This industry research report identifies Drift, Garmin, GoPro, iON, Rollei, and Sony as the key vendors in the global action camera market. This industry research report also presents a competitive analysis of the market by end-user (residential and commercial), by technology (SD, HD, full HD, and ultra HD), by distribution channel (online and offline), and by geography (APAC, Eastern Europe, MEA, North America, South America, and Western Europe).
Market research analysts at Technavio predict that the global action camera market will grow steadily during the next four years and post a CAGR of almost 15% by 2021. This market research analysis identifies the high growth in adventure tourism as one of the primary growth factors for this market. The adventure tourism market is one of the fastest-growing segments of the tourism industry and was valued at more than USD 430 billion in 2016. With individuals across the globe increasingly focusing on sharing photos and videos through social networking sites, this growth of the adventure tourism industry will propel the demand for action cameras since they can withstand harsh conditions during adventure activities such as freestyle skiing, climbing, snowboarding, trekking, and bicycling.
This market research and analysis estimates that in terms of geographical regions, North America will be the major revenue contributor to the market throughout the predicted period. The presence of a large number of adventure enthusiasts and adventure destinations in the region and the high per capita disposable income of the population that is driving their spending ability, will be the major factors fueling the growth of the market in North America.
The market is characterized by the presence of several vendors and is highly competitive. Intense competition, rapid technological advancements, and the frequent changes in the preferences of consumers pose as major risks for the growth of the vendors. To sustain the competition and succeed in this intensely competitive environment, the vendors have the need to distinguish their product and service offerings through clear and unique value propositions. To remain competitive in this market, the vendors should also focus on adopting new business models and stay updated with the changes in consumer preferences.
The leading vendors in the market are -
The other prominent vendors in the market are BRAUN PHOTO TECHNIK, Brinno, Chilli Technology, Delkin Devices, EyeSee360, Geonaute, Hitachi, iSAW, Liquid Image, Mobius ActionCam, Panasonic, PAPAGO, Pyle Audio, Toshiba, VIOFO, VIEVU, and XSories.
Action Cameras on Course to Reach 9 Million Units in 2018
Worldwide demand for action cameras reached almost 5 million units in 2013 - which represented annual growth of 47% - and on track to reach 9 million units in 2018, according to the latest research from Futuresource Consulting.
"The USA and UK shared 46% of worldwide demand last year, a drop of 4% share from the previous year, due to stronger growth in other regions", says Arun Gill, Market Analyst at Futuresource Consulting. "The relative importance of outdoor pursuits, propensity to spend on emerging CE categories and the use of social media are some of the main drivers of demand for action cameras."
In 2013, the majority of sales were for consumer applications, such as sports enthusiasts and evidential use, while the remainder was for professional applications, predominantly TV production.
GoPro continues to maintain its position as the dominant market leader, despite a growing number of vendors vying for market share.
"The distribution of action cameras is uniquely lifestyle-centric as opposed to CE-centric, with retailers focused around surfing, skiing, cycling, etc., and generally independent or small chains, as opposed to large chains."
Futuresource expects the worldwide action camera market to continue growing out to 2018, by which point, parts of Europe and Asia Pacific are expected to drive the majority of growth.
Augmented Reality Market
Augmented Reality Market size exceeded USD 1 billion in 2016 and is predicted to grow at around 65% CAGR from 2017 to 2024. The global industry shipments were over 100,000 units in 2016.
Increasing adoption across the retail and e-commerce sectors is expected to boost the augmented reality market in the forecast timespan. Various retail brands are adopting this technology to increase customer satisfaction, thus boosting the AR market growth. The technology helps retailers provide an enhanced shopping experience by creating a 360-degree view of all the products. For instance, Marxent Labs, LLC provides a 3D virtual cloud platform which combines these solutions with 3D visualization and provides solutions for home furnishing retailers.
Increasing integration of digitization & latest technologies in the healthcare domain, rising awareness about the adoption of enhanced healthcare services, and adoption in training professionals is driving the augmented reality market growth in healthcare sector. The technology is being used in several applications in healthcare including medical simulation, pre-operation assessment, minimally invasive surgeries, and patient rehabilitation. Increasing number of healthcare start-ups such as Medsights Tech, Brain Power, AccuVein, EchoPixel, Atheer, and Augmedix is expected to positively impact the augmented reality market growth.
High cost of devices and software implementation is expected to be a major factor hampering the augmented reality market growth. Initial cost to implement the technology is very high that makes inaccessible for small and medium players to implement in their business operations. The insufficient storage space capacity to store apps and software and development platforms, limited processing power coupled with the lack of knowledge are other factors restraining the augmented reality market growth.
Augmented Reality Market, By Component
Software component in the augmented reality market is expected to gain significant share owing to the increasing focus on software development platforms for enterprise applications. The software component includes software developer kits, software solutions and cloud services to be used with hardware. Growing penetration of tablets and smartphones is encouraging the developers to offer rich media experiences through mobile applications. Developers are investing in developing platforms specific for applications to develop differentiated offerings.
The smart glasses segment in the augmented reality market is projected to grow at the significant rate in the coming years owing to its diverse applications in the healthcare and industrial jobs. For instance, DAQRI LLC offers smart glasses which can be used to enhance industrial operations by helping experts to remotely assist workers. DHL warehouse workers use smart glasses that guide them through the processes such as item picking and package identifying to increase their efficiency in fulfilling orders. Commercialization of devices such as smart glasses and head mounted displays (HMDs) by companies such as Sony and Microsoft are also projected to propel the AR market growth.
Technological advancements in smart glasses and HMDs that use technologies such as Wi-Fi, GPS, and Bluetooth, are expected to drive the augmented reality market growth. For instance, HoloLens, developed by Microsoft Corporation, is a self-contained, holographic, wireless device that overlaps images on individual’s vision, such that the images appear as holograms and provide information required by the user. It has wide range of application across manufacturing, healthcare, automotive, and hospitality sectors.
Augmented Reality Market, By Application
Augmented reality market is growing at a significant rate owing to increasing applications in various sectors including automotive, medical, aerospace & defense, gaming, retail, and industrial. The industrial segment is forecast to grow at the highest rate owing to the rapid growth of industries and adoption of latest technologies to enhance productivity. The technology is being used in several industrial processes such as assembly, maintenance & repair, quality control, training, and monitoring & visualization. The technology allows 3D interaction with objects thus making all industrial processes simpler to execute and cost effective. Also, with the availability of real time information through the technology makes maintenance and quality control check precise and easy, thus propelling the AR market growth.
The technology is gaining significance in the healthcare sector. Smart glasses are being increasingly used for video recording and data visualization during critical surgeries. The technology helps surgeons discuss cases live and transfer photos & videos fast, thus enhancing the process and minimizing errors. For instance, Accuvein Inc. provides non-contact vein illumination solutions for cosmetic and vascular procedures, blood donation, and blood drawing procedures. Technological advancements and increasing investments in healthcare segment is expected to drive augmented reality market over the forecast timespan.
Augmented Reality Market, By Region
The Asia Pacific augmented reality market is expected to grow at the highest rate in the forecast timespan owing to the rapid growth of industries in emerging economies like India and China. The industry in China is projected to grow substantially owing to the huge investments in manufacturing operations for developing latest technology devices like smart glasses. Presence of major players such as Seiko Epson Corporation and Samsung Electronics is expected to bode well for the industry in China, Japan, and South Korea.
Europe augmented reality market is expected to gain momentum over the next seven years, owing to increasing use of technology in industrial and automobile sectors. For instance, ThyssenKrupp, a German conglomerate is using the technology though Microsoft HoloLens for planning and installation of stairlifts. Automobile manufacturers such as Ford and Volkswagen are using the technology in car designing and production.
Competitive Market Share
Some of the key players in augmented reality market include Google Inc., Blippar, Daqri, PTC, Upskill, Magic Leap, Samsun Electronics Co. ltd., Facebook Inc., Apple Inc., Qualcomm, Wikitude GmbH, HTC Corporation, Microsoft Corporation, and Marxent Labs, LLC. Large corporations such as Qualcomm, Apple, and Google are investing heavily in R&D to improve the quality of hardware and software offerings. The industry is characterized by the presence of large number of small players, that include platform providers, software developers, hardware device manufacturers, and content providers. One of the strategies adopted by the players in the augmented reality market is the acquisition of small players and start-ups, to gain substantial market share and gain advantage over the competition. For instance, in December 2017, Mapbox announced the acquisition of Fitness AR, an activity tracking app.
Augmented Reality Industry Background
The technology is being witnessing high penetration in the automotive sector since the start of the 21st century. The technology was initially used by the car manufacturers as new-age vehicle manuals. For instance, Volkswagen developed the Mobile Augmented Reality Technical Assistance (MARTA) app to provide step-by step repair assistance. With this, the tech giant Google announced AR in the form of wearable technology. Companies are investing continually to leverage the offerings of the technology and increasing usage in different end-use industries, thus aiding the AR market growth. Companies in the augmented reality market are investing in R&D to offer differentiated solutions to increase their share in the industry. For instance, AR display maker, Lumus Ltd., in association with technology giant HTC, raised about USD 90 million in R&D funding.
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