USD 88.4 Bn Revenue Growth Projected in Augmented Reality Market

August 11 19:36 2022
USD 88.4 Bn Revenue Growth Projected in Augmented Reality Market
Augmented Reality Market
Augmented Reality Market size to reach USD 88.4 Bn by 2026, with fueling the growth include increasing adoption in healthcare sector of AR technology.

The global augmented reality market is projected to grow from USD 22.5 billion in 2021 to USD 88.4 billion by 2026; it is expected to grow at a CAGR of 31.5% from 2021 to 2026.

The most significant factors driving the growth of the augmented reality market is increasing adoption of AR technology in healthcare sector, growing demand for AR in retail and e-commerce sectors due to COVID-19, rising investments in AR market, and surging demand for AR devices and technology in global automotive industry.

MarketsandMarkets: The global augmented reality market to reach USD 88.4 billion by 2026; at a CAGR of 31.5% from 2021 to 2026.

• Informational PDF Brochure :- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82758548

Browse through more than 169 market data tables and more than 61 figures presented in 209 pages and an in-depth TOC on the augmented reality market. Early buyers will receive 10% customization on reports.

Augmented Reality Market

Head-mounted displays segment to account for the largest share of augmented reality market during the forecast period

The use of AR HMD in the automotive sector is expected to fuel the growth of the AR devices segment of the augmented reality market. The ability of AR devices to combine the real world with virtual objects has increased their demand in various applications. Mobile-based HMD has a high resolution and a 360° viewing angle. The use of mobile phones for 3D navigation with a real-time overlay of computer graphics has numerous applications in the gaming sector and other industries; this is expected to drive the growth of the AR devices segment of the market.

“Consumer application to hold the largest share of augmented reality market during forecast period”

The consumer application segment is projected to account for the largest size of the augmented reality market from 2021 to 2026. The consumer segment consists of gaming and sports & entertainment applications. AR has transformed the gaming industry over the past few years by enhancing the impressiveness of the gaming experience. AR uses the existing environment in a gaming application and creates a playing field within it. This technology provides an interactive experience of a real-world environment where real-world objects are augmented. It superimposes animated objects on a live view of the real world. AR games are mostly mobile-based or tablet-based and are also available for portable gaming systems. Moreover, AR allows users to immerse and engage in the action during sports matches and can be used in sports broadcasting, sports training, and sports marketing. During practice seasons in stadiums, it displays the speed of the athlete, maps, distance to cover, and the wind direction; this data can help in the smart training of athletes and improve their detection and reaction abilities by expanding their field of vision.

APAC to register highest CAGR in global augmented reality market during 2021- 2026

The augmented reality market in APAC is expected to grow at a high rate owing to its adoption in the healthcare, commercial, and consumer sectors. The increasing number of players in the region is projected to drive the growth of the augmented reality market in APAC. The thriving commercial and consumer markets are a key factor driving the growth of the augmented reality market in the region as these markets are witnessing increased investments in countries such as Japan, India, and China. The use of augmented reality has increased in commercial and consumer markets in APAC, owing to the easy availability of augmented reality technology in the region. This, in turn, helps the market in the region to grow at a high pace.

Major players in the augmented reality market are Google, Inc. (US), PTC Inc. (US), Seiko Epson (Japan), Microsoft (US), Lenovo (Hong Kong), Samsung Electronics (South Korea), and Apple (US). The top players have adopted merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global augmented reality market.

Study Coverage:

The report describes the detailed information regarding the major factors such as drivers, restraints, challenges, and opportunities influencing the growth of the augmented reality market. It also includes technology trends, trade data, and patent analysis. This research report categorizes the augmented reality market based on offering, technology, application, device type, and geography. A detailed analysis of the key industry players was carried out to provide insights into their business overviews; solutions and services offered; key strategies adopted that include new product; mergers; and partnerships, agreements, and collaborations, recent developments, and COVID-19 specific developments associated with the augmented reality market.

Brief information on the research methodology for the report can be found in the report description provided on the website.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/augmented-reality-market-82758548.html

  Categories: