Our client, an established interactive and visual effects service provider, wanted to assess the potential use of wearable augmented reality (AR) systems in the service and maintenance departments in sectors such as oil and gas, medicine, and real estate. It sought to use comprehensive technology and market research insights to make better, research-backed business decisions.
Business Challenge
A well-established interactive and visual effects service provider wanted to assess the potential use of wearable AR systems in the service and maintenance departments in sectors such as oil and gas, medicine, and real estate.
The client sought to use comprehensive technology and market research to make better, research-backed business decisions.
Solution
Netscribes’ team of research analysts and domain experts used a customized approach that involved technology analysis, patent analysis, and target market analysis, to deliver key insights for the client.
Approach
Netscribes conducted the technology market research study through the following steps:
- Technology Analysis: We performed a detailed assessment of wearable AR systems to uncover valuable information, such as the problems they solve, advantages over existing technologies, and the current developments in the field of AR technologies.
- Patent Analysis: We analyzed over 7900 patents related to augmented reality (AR) and head-mounted display technologies (HMD) to reveal the competitive landscape and the technology roadmap based on the patent filing trends, while watching out for any patents that can potentially disrupt the market.
- Target Market Analysis: We analyzed the overall wearable AR systems market, which included identifying and analyzing the emerging trends, market size and opportunities, market and regulatory environment, growth drivers, barriers and challenges, emerging application areas, future scope of growth, and so on.
Snapshot of the Results
Netscribes’ multi-pronged approach helped the client unearth some key findings:
- The patent trends indicated that the development of AR and HMD technologies was not limited to just large company R&D centres.
- With over 70% of assigned patents, large-cap companies such as Sony, Samsung, and IBM were found to have a strong position in augmented reality and head-mounted display technologies.
- Some of the large-cap companies with a smaller set of US patents issued globally were Apple, Nokia, and Intel.
- Close to 30% patents were assigned to smaller companies and individual inventors.
- Microvision and Kopin were found to be emerging companies of interest in this area.
- The assigned patents covered a broad spectrum of technologies from the AR tech space, from hardware and semiconductors, to software that drives network connectivity, image processing, and personalized content delivery.
Benefit
Netscribes’ comprehensive research equipped the client with key insights into the potential of wearable AR systems in the service and maintenance industries. Netscribes was able to provide recommendations related to the technology and market potential of both, available and upcoming AR-based services and maintenance in the market. These recommendations helped the client make key strategic decisions and prepare their R&D roadmap.
