Augmented Reality market was valued at USD 17.87 Billion in 2020, and it is expected to reach a value of USD 230.11 Billion by 2027, at a CAGR of 44.06% over the forecast period (2020 - 2027).
Augmented reality is an interactive experience of a real-world environment in which real-world items are augmented with computer-generated perceptual information. Augmented reality is still in its early stages of acceptance, but it is rapidly changing. A recent study shows that about 58.9 million individuals will use virtual reality and 93.3 million will use augmented reality at least once each month by 2023. AR-based apps for tracking, detecting, and resolving disputes are in high demand, and some firms are already using them. Individuals' increased desire for smartphones, smart gadgets, and other wearables that employ AR technology is also fueling market development.
AR technologies offer a wide range of potential applications in Architecture, Engineering, and Construction (AEC) business. However, in comparison to other industries, the AEC business has been sluggish to adopt Augmented reality technology. AR-based technologies necessitate more research and development, and it is expected that many industry verticals will use AR in the future years for a variety of applications.
This report provides in-depth analysis of Global Augmented Reality market. We have analyzed 20+ data points that include product price trends, consumer purchase patterns, company annual sales performance, COVID-19 impact on distribution channels, parent industry performance, regional trends, and technological innovations, for tracking the Global market size and performance in the recent years.
Global Augmented Reality Market Segmentation
The Global Augmented Reality market is segmented based on Component, Display, Application, and Region. Based on Component it is categorized into: Hardware , Software. Based on Display it is categorized into: HMD & Smart Glass , HUD , Handheld Devices. Based on Application it is categorized into: Aerospace & Defense , Automotive , Education , E-commerce & Retail , Gaming & Entertainment , Healthcare , Industrial & Manufacturing. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
According to one estimation, the AR market will be worth between $70bn and $75bn by 2023, while the VR is expected to be worth between $10bn and $15bn.
The boost of the gaming and entertainment sectors is a driving factor in the dynamic growth of the AR market.
Imagine that now at exhibitions you can demonstrate large equipment in a virtual format, saving money on transportation and placement.
Many ideas can become a reality, they will be applied to a particular type of business and region.
Virtual tours to the stores add an element of fun for customers.
Here you can try on sneakers or imagine how a new table or a chair will look in your apartment.
Lots of large monthly magazines charge more than $100.000 for a four-colour full-page printed advertisement (one-time) the cost of which is determined by the price per thousand readers.
Additionally, innovations and advancements in technology, and increasing use of smart and connected devices is adding fuel to the growth of the augmented reality market.Atheer, PTC, Bipplar, Google Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., Wikitude GmbH, DAQRI, Zugara, Upskill, Magic Leap and Infinity Augmented Reality are some of the leading players in the market.
The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements.
Increasing trend of smart devices and growing trend of augmented reality devices in the healthcare sector are the major factors driving the growth of the market.
The focus towards the promotion of the implementation of augmented reality devices in medical applications is increasing due to the convenience and creativity being provided, and growing trend of digitalization is another factor responsible for fueling the growth of augmented reality market.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/1143The global augmented reality market has been segmented by component, device type, technology, and vertical.
They comprise of technologies, applications, components, types, end-users & geographies.On account of technologies, the market is bifurcated into near eye based technology & monitor based technology.On the basis of applications, the market is fragmented commercial, enterprise, medical, energy, aerospace & defense and consumer electronics.The component section is sub-divided into software & hardware.When it comes to types, the industry is separated into head-up display, handheld devices & mounted display.Enterprises & consumers form the end-users portion of the market.Regionally, the market is spread across North America, Asia Pacific, Europe & Rest of the World.InnovationsThere is no shortage of new & innovative product launches in the augmented reality market.
It saw the launch of AccuVein, which is a handheld device that has the ability to scan & illuminate a map of a patient’s veins over their skin to ease IV injections.
Global Augmented Reality (AR) Market witnesses a rise in CAGR during the forecast period.
Geographical segmentation for augmented reality market comprises North America, South America, Europe, Asia-Pacific, Middle East and Africa.
The key players in augmented reality (AR) industry include Magic Leap, Daqri LLC, Apple, Blippar, Sony, Wikitude, Microsoft, PTC, Google, Infinity Augmented Reality, CyberGlove SystemsInc, ODG, Eon Reality Inc and Samsung Electronics.
Market Segment: Augmented Reality(AR) Component Outlook (Revenue, USD Million, 2014 - 2024)• Hardware• Software Augmented Reality(AR) Display Outlook (Revenue, USD Million, 2014 - 2024)• Head-Up Display (HUD)• Head Mounted Display (HMD)• Smart Glass Augmented Reality(AR) Application Outlook (Revenue, USD Million, 2014 - 2024)• Aerospace & defense• Medical• Gaming• Industrial• Automotive• E-commerce • Others Augmented Reality(AR) Regional Outlook (Revenue, USD Million, 2014 - 2024)• North America• Europe• Asia Pacific• Latin America• MEA Browse Full Research Report with TOC @ https://www.millioninsights.com/industry-reports/augmented-reality-ar-market Table of Contents Chapter 1.
List of Data Sources Chapter 2.
Rising adoption of AR across automotive industry3.4.1.2.
The global VR and AR market 2020 are poised to reach USD 767.67 billion by 2025, recording a whopping 73.7% CAGR over the assessment period (2018 to 2025).Market highlightsThe increasing need for head-mounted displays (HMDs) in gaming and entertainment, the adoption by firms of virtual reality for marketing campaigns, the increasing need for augmented reality and virtual reality in the automobile and e-commerce sectors contribute to the need for augmented reality technology in the healthcare sector and the investment and funding by major market players.The growing penetration across industries such as consumer electronics, automobiles, and retail of advanced technology is responsible for driving the development of the demand for augmented reality.
In addition, growing mobile device usage across the world is driving consumer growth, as it seems to be the most convenient type of augmented reality.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/6884Competitive Outlook: the major players identified by MRFR in the global Augmented Reality and Virtual Reality market as EON Reality Inc., Terminal Eleven (SkyView), Hewlett-Packard Company, Augmented Pixels Inc., DAQRI LLC, Wikitude GmbH, Sony Corporation, Zapper Limited, Virtalis Limited, Google LLC, awe.org Pty Ltd (buildar.com), HTC Corporation, Samsung Group, Blippar, Microsoft Corporation, Facebook Inc., Magic Leap Inc., PTC Inc., and Visteon Corporation Segmentation: The industry has been bifurcated between handheld augmented reality and virtual reality based on technology.The industry has been divided into devices, solutions, and applications based on the component.The AR-VR market has been divided into virtual reality devices and augmented reality devices based on the device type.The market has been split into consumer electronics, aerospace & defence, media & entertainment, hospitality , healthcare, automobile, BFSI, engineering, IT & telecommunication, travel & tourism, education, and real estate, based on the vertical.
Regional Analysis:The geographical analysis of AR-VR market has been analyzed for North America, Europe, Asia-Pacific, and the rest of the world.Due to the association of eminent market players and rising investors in AR / VR technology, North America has been identified as the most significant market share in the AR / VR market.
As a result of their demand in the defence industry for simulation-based training in the region, there is a rising need for head-mounted displays, accelerating market growth in the North American region.
The industry also produces considerable revenue from the growing implementation of virtual reality and augmented reality technologies in countries such as France, the United Kingdom , Germany, Spain , Italy and other European nations.Asia-Pacific is expected to account for the third-largest market share and is poised to experience considerable growth in the coming years due to the acceptance of augmented reality and virtual reality technologies for 3D modelling, 3D rendering, and virtualization by various industry verticals.
