Global Augmented Reality for MRO Size, Worth, Value, Overview & Forecast

Global Augmented Reality for Maintenance, Repair, and Overhaul (MRO) Market: Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024

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Overview:

Maintenance, repair, and overhaul (MRO) are among the most critical areas of the engineering industry and are crucial for industry growth and seamless operations. Globally, the MRO sector is witnessing a significant change that has redefined the industry outlook. The sustained overall economic and manufacturing growth continues to drive maintenance and repair demand in developed as well as developing economies. Globally, private and public enterprises, including SMEs as well as large enterprises, are focusing on attaining efficiency in MRO by accelerating the maintenance and repair activities through industry specialized augmented reality technology solutions. At the same time, the competitive intensity is increasing at both the market and the supply side.

In addition, there is a lack of industry standards, which is still in the development phase. In the digitally connected world, the augmented reality for MRO market has reported a significant growth and is presenting ample opportunities for the industry players. The augmented reality hardware and software solutions are used by organizations of all sizes (small, medium, and large) across aerospace, automobile, manufacturing, and oil & gas sectors.

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Market Analysis:

According to Infoholic Research, the global augmented reality for MRO market is valued at $403.3 million in 2018 and is expected to reach $3,319.0 million by 2024, growing at a CAGR of 42.1% during the forecast period 2018–2024. The market is driven by demand from the US and Western European countries. The Western Europe market has the strongest hold due to the presence of various large and small-scale manufacturing-based industries. The US is driving the market due to the demand from industrial and commercial channels, especially aerospace, automobile, and manufacturing set-ups. The market in APAC is in its initial stages due to the lack of industry-specific augmented reality technology solutions and digital infrastructure in emerging economies that hampers the market growth

FEATURED COMPANIES

PTC Inc

Microsoft Corporation

Apple Inc

Atheer Inc.

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Benefits:
The report encompasses the study of the augmented reality for MRO market by components such as augmented reality hardware and augmented reality software; by applications such as preventive & corrective maintenance, system surveys and audits, performance modeling and benchmarking, risk identification and management, and others; by industry verticals such as aerospace, automotive, manufacturing, oil & gas, utilities, and others. AR-based innovation has received a lot of traction in the last three years. Augmented reality innovative software solutions and applications have a broad scope of use in MRO. For instance, augmented reality technology solutions enable companies with the potential to examine and monitor engine parts and can provide a preview of a running engine in motion, analyze airline maintenance operations among other applications with greater accuracy and efficiency. The evolution of technologies such as cloud computing, cognitive computing, and machine learning is paving the way for the growth of augmented reality for MRO. Furthermore, the report provides details about the major challenges impacting the market growth.

List of Table:

TABLE 1 GLOBAL AUGMENTED REALITY FOR MRO MARKET VALUE, BY COMPONENT, 2018–2024 ($MILLION) 29
TABLE 2 GLOBAL AUGMENTED REALITY HARDWARE MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 31
TABLE 3 GLOBAL AUGMENTED REALITY SOFTWARE MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 32
TABLE 4 GLOBAL AUGMENTED REALITY FOR MRO MARKET REVENUE, BY APPLICATION TYPE, 2018–2024 ($MILLION) 34
TABLE 5 GLOBAL PREVENTIVE & CORRECTIVE MAINTENANCE MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 36
TABLE 6 GLOBAL SYSTEM SURVEYS AND AUDITS MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 38
TABLE 7 GLOBAL PERFORMANCE MODELLING AND BENCHMARKING MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 39
TABLE 8 GLOBAL RISKS IDENTIFICATION AND MANAGEMENT MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 40
TABLE 9 GLOBAL OTHERS MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 42
TABLE 10 GLOBAL AUGMENTED REALITY FOR MRO MARKET REVENUE, BY INDUSTRY VERTICALS, 2018–2024 ($MILLION) 43
TABLE 11 GLOBAL AEROSPACE MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 45
TABLE 12 GLOBAL AUTOMOTIVE MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 47
TABLE 13 GLOBAL MANUFACTURING MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 48
TABLE 14 GLOBAL OIL & GAS, UTILITIES MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 50
TABLE 15 GLOBAL OTHERS MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 51
TABLE 16 GLOBAL AUGMENTED REALITY FOR MRO MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 53
TABLE 17 DRO FOR NORTH AMERICA 55
TABLE 18 AUGMENTED REALITY FOR MRO MARKET REVENUE IN NORTH AMERICA BY COMPONENT, 2018–2024 ($MILLION) 56
TABLE 19 AUGMENTED REALITY FOR MRO MARKET REVENUE IN NORTH AMERICA BY APPLICATIONS, 2018–2024 ($MILLION) 56
TABLE 20 AUGMENTED REALITY FOR MRO MARKET REVENUE IN NORTH AMERICA BY VERTICALS, 2018–2024 ($MILLION) 57
TABLE 21 DRO FOR EUROPE 60
TABLE 22 AUGMENTED REALITY FOR MRO MARKET REVENUE IN EUROPE BY COMPONENT, 2018–2024 ($MILLION) 60
TABLE 23 AUGMENTED REALITY FOR MRO MARKET REVENUE IN EUROPE BY APPLICATIONS, 2018–2024 ($MILLION) 61
TABLE 24 AUGMENTED REALITY FOR MRO MARKET REVENUE IN EUROPE BY VERTICALS, 2018–2024 ($MILLION) 61
TABLE 25 DRO FOR ASIA-PACIFIC 64
TABLE 26 AUGMENTED REALITY FOR MRO MARKET REVENUE IN ASIA-PACIFIC BY COMPONENT, 2018–2024 ($MILLION) 64
TABLE 27 AUGMENTED REALITY FOR MRO MARKET REVENUE IN ASIA-PACIFIC BY APPLICATIONS, 2018–2024 ($MILLION) 65
TABLE 28 AUGMENTED REALITY FOR MRO MARKET REVENUE IN ASIA-PACIFIC BY VERTICALS, 2018–2024 ($MILLION) 65
TABLE 29 DRO FOR LAMEA 68
TABLE 30 AUGMENTED REALITY FOR MRO MARKET REVENUE IN LAMEA BY COMPONENT, 2018–2024 ($MILLION) 68
TABLE 31 AUGMENTED REALITY FOR MRO MARKET REVENUE IN LAMEA BY APPLICATIONS, 2018–2024 ($MILLION) 69
TABLE 32 AUGMENTED REALITY FOR MRO MARKET REVENUE IN LAMEA BY VERTICALS, 2018–2024 ($MILLION) 69
TABLE 33 PTC INC.: OVERVIEW SNAPSHOT 71
TABLE 34 PTC INC.: BUSINESS UNITS 72
TABLE 35 PTC INC.: GEOGRAPHIC REVENUE 73
TABLE 36 PTC INC.: SWOT ANALYSIS 74
TABLE 37 MICROSOFT: OVERVIEW SNAPSHOT 76
TABLE 38 MICROSOFT: BUSINESS UNITS 77
TABLE 39 MICROSOFT: GEOGRAPHIC REVENUE 77
TABLE 40 MICROSOFT: SWOT ANALYSIS 78
TABLE 41 RESEARCH METHODOLOGY OF GLOBAL AUGMENTED REALITY FOR MRO MARKET: TRIANGULATION 97
TABLE 42 RESEARCH METHODOLOGY OF GLOBAL AUGMENTED REALITY FOR MRO MARKET: FORECASTING 98

List of Charts:

CHART 1 PROPOSED BLOCKCHAIN ENABLED ENERGY TRADING PLATFORM 11
CHART 2 HIGH DOMINANCE AND HIGH GROWTH MARKETS, 2018 & 2024 13
CHART 3 GLOBAL AUGMENTED REALITY FOR MRO REVENUE, 2018–2024 ($MILLION) 16
CHART 4 PEST ANALYSIS: AUGMENTED REALITY FOR MRO MARKET 17
CHART 5 PORTER’S 5 FORCE ANALYSIS: AUGMENTED REALITY FOR MRO MARKET 18
CHART 6 MARKET SEGMENTATION: AUGMENTED REALITY FOR MRO 22
CHART 7 MARKET DYNAMICS – DRIVERS, RESTRAINTS & OPPORTUNITIES 23
CHART 8 DRO – IMPACT ANALYSIS: AUGMENTED REALITY FOR MRO MARKET 27
CHART 9 AUGMENTED REALITY FOR MRO MARKET BY COMPONENTS, 2018 AND 2024 29
CHART 10 GLOBAL AUGMENTED REALITY HARDWARE MARKET VALUE, 2018–2023 ($MILLION) 30
CHART 11 GLOBAL AUGMENTED REALITY SOFTWARE MARKET VALUE, 2018–2024 ($MILLION) 32
CHART 12 AUGMENTED REALITY FOR MRO MARKET BY APPLICATIONS, 2018 AND 2024 34
CHART 13 GLOBAL PREVENTIVE & CORRECTIVE MAINTENANCE MARKET REVENUE, 2018–2024 ($MILLION) 36
CHART 14 GLOBAL SYSTEM SURVEYS AND AUDITS MARKET REVENUE, 2018–2024 ($MILLION) 37
CHART 15 GLOBAL PERFORMANCE MODELLING AND BENCHMARKING MARKET REVENUE, 2018–2024 ($MILLION) 38
CHART 16 GLOBAL RISKS IDENTIFICATION AND MANAGEMENT MARKET REVENUE, 2018–2024 ($MILLION) 40
CHART 17 GLOBAL OTHERS MARKET REVENUE, 2018–2024 ($MILLION) 42
CHART 18 AUGMENTED REALITY FOR MRO MARKET BY INDUSTRY VERTICALS, 2018 AND 2024 43
CHART 19 GLOBAL AEROSPACE MARKET REVENUE, 2018–2024 ($MILLION) 45
CHART 20 GLOBAL AUTOMOTIVE MARKET REVENUE, 2018–2024 ($MILLION) 46
CHART 21 GLOBAL MANUFACTURING MARKET REVENUE, 2018–2024 ($MILLION) 48
CHART 22 GLOBAL OIL & GAS, UTILITIES MARKET REVENUE, 2018–2024 ($MILLION) 49
CHART 23 GLOBAL OTHERS MARKET REVENUE, 2018–2024 ($MILLION) 51
CHART 24 AUGMENTED REALITY FOR MRO MARKET SHARE BY REGIONS, 2018 AND 2024 53
CHART 25 AUGMENTED REALITY FOR MRO MARKET REVENUE IN NORTH AMERICA, 2018–2024 ($MILLION) 54
CHART 26 AUGMENTED REALITY FOR MRO MARKET REVENUE IN EUROPE, 2018–2024 ($MILLION) 59
CHART 27 AUGMENTED REALITY FOR MRO MARKET REVENUE IN ASIA-PACIFIC, 2018–2024 ($MILLION) 63
CHART 28 AUGMENTED REALITY FOR MRO MARKET REVENUE IN LAMEA, 2018–2024 ($MILLION) 67
CHART 29 GOOGLE LLC: OVERVIEW SNAPSHOT 80
CHART 30 GOOGLE LLC: BUSINESS SEGMENTS 81
CHART 31 GOOGLE LLC: GEOGRAPHIC REVENUE 82
CHART 32 GOOGLE LLC: SWOT ANALYSIS 83
CHART 33 APPLE INC.: OVERVIEW SNAPSHOT 85
CHART 34 APPLE INC.: BUSINESS SEGMENTS 86
CHART 35 APPLE INC.: GEOGRAPHIC REVENUE 87
CHART 36 APPLE INC.: SWOT ANALYSIS 87

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