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

By Staff 5 years ago

BANGALORE, India, March 5, 2019 /PRNewswire/ — 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.

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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.

The report answers following questions:

  • Components: Augmented Reality Hardware and Augmented Reality Software
  • Applications: Preventive & Corrective Maintenance, System Surveys and Audits, Performance Modeling and Benchmarking, Risk Identification and Management, and Others
  • Industry Verticals: Aerospace, Automotive, Manufacturing, Oil & Gas, Utilities, and Others (Telecommunications/Transportation/Mining/Warehousing)
  • Regions: North America, Europe, Asia Pacific, Latin America, Middle East & Africa (LAMEA)

Industry outlook: Market trends, drivers, restraints, and opportunities

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Key Regions Covered:

  1. North America,
  2. Europe
  3. Asia Pacific
  4. Latin America
  5. Middle East
  6. Africa  

Key Vendors:

  1. PTC Inc.
  2. Google LLC
  3. Microsoft Corporation
  4. Apple Inc.
  5. Blippar.com Ltd.
  6. Atheer, Inc.

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Table of Content:

1 Executive Summary 10

1.1 High Dominance and High Growth Markets in Augmented Reality for MRO 11

2 Industry Outlook 13

2.1 Industry Snapshot 13

2.1.1 Industry Trends 13

3 Market Snapshot 15

3.1 Total Addressable Market 15

3.2 Segmented Addressable Market 15

3.2.1 PEST Analysis 16

3.2.2 Porter’s Five Force Analysis 17

3.3 Related Markets 19

4 Market Characteristics 21

4.1 Market Overview 21

4.2 Market Development and Technological Impact 21

4.3 Market Segmentation 22

4.4 Market Dynamics 23

4.4.1 Drivers 24

4.4.1.1 Extended reach in maintenance and repair 24

4.4.1.2 Fusion of technologies 25

4.4.1.3 Increasing business performance and capacity 25

4.4.2 Restraints 25

4.4.2.1 Complexity in development of industry-specific augmented reality technologies 25

4.4.2.2 Security concerns 26

4.4.2.3 Managing traditional networks 26

4.4.3 Opportunities 26

4.4.3.1 Growth of cloud computing technology 26

4.4.3.2 Software as a core strategy 26

4.4.3.3 Optimizing manufacturing set-ups uptime 27

4.4.3.4 Emerging economies 27

4.4.4 DRO – Impact Analysis 28

4.4.5 Key Stakeholders 29

5 Augmented Reality for MRO Market, By Component 30

5.1 Overview 30

5.2 Augmented Reality Hardware 31

5.3 Augmented Reality Software 33

6 Augmented Reality for MRO Market, By Application 35

6.1 Overview 35

6.2 Preventive & Corrective Maintenance 36

6.3 System Surveys and Audits 38

6.4 Performance Modeling and Benchmarking 39

6.5 Risk Identification and Management 41

6.6 Others 42

7 Augmented Reality for MRO Market, By Industry Vertical 45

7.1 Overview 45

7.2 Aerospace 46

7.3 Automotive 48

7.4 Manufacturing 49

7.5 Oil & Gas, Utilities 51

7.6 Others 53

8 Augmented Reality for MRO Market, By Geography 55

8.1 Overview 55

8.2 North America 56

8.2.1 DRO for North America 57

8.3 Europe 61

8.3.1 DRO for Europe 62

8.4 Asia-Pacific 65

8.4.1 DRO for Asia-Pacific 66

8.5 LAMEA 69

8.5.1 DRO for LAMEA 70

9 Vendors Profile 73

9.1 PTC Inc. 73

9.1.1 Overview 73

9.1.2 Business Units 74

9.1.3 Geographic Revenue 75

9.1.4 Business Focus 75

9.1.5 SWOT Analysis 76

9.1.6 Business Strategies 76

9.2 Microsoft 78

9.2.1 Overview 78

9.2.2 Business Units 79

9.2.3 Geographic Revenue 79

9.2.4 Business Focus 80

9.2.5 SWOT Analysis 80

9.2.6 Business Strategies 81

9.3 Google LLC 82

9.3.1 Overview 82

9.3.2 Business Segments 83

9.3.3 Geographic Revenue 84

9.3.4 Business Focus 85

9.3.5 SWOT Analysis 85

9.3.6 Business Strategies 85

9.4 Apple Inc. 87

9.4.1 Overview 87

9.4.2 Business Segments 88

9.4.3 Geographic Revenue 89

9.4.4 Business Focus 89

9.4.5 SWOT Analysis 89

9.4.6 Business Strategies 90

10 Companies to Watch for 92

10.1 Blippar.com Ltd 92

10.1.1 Overview 92

10.1.2 Market Exposure/Differentiating Factor 92

10.2 Wikitude GmbH 93

10.2.1 Overview 93

10.2.2 Market Exposure/Differentiating Factor 93

10.3 Atheer, Inc. 94

10.3.1 Overview 94

10.3.2 Market Exposure/Differentiating Factor 94

10.4 Upskill 95

10.4.1 Overview 95

10.4.2 Market Exposure/Differentiating Factor 95

10.5 Infinity Augmented Reality, Inc. 96

10.5.1 Overview 96

10.5.2 Market Exposure/Differentiating Factor 96

10.6 Magic Leap 97

10.6.1 Overview 97

10.6.2 Market Exposure/Differentiating Factor 97

11 Annexure 98

11.1 Report Scope 98

11.2 Research Methodology 98

11.2.1 Data Collation & In-house Estimation 98

11.2.2 Market Triangulation 99

11.2.3 Forecasting 100

11.3 Study Declarations 100

11.4 Report Assumptions 101

11.5 Abbreviations 102

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