Augmented Reality (AR) Market Industry Trends, Share, Size, Growth, Demand, Growth Opportunities, Future and Business Analysis by Forecast – 2028
The global Augmented Reality (AR) market size is expected to reach USD 332.60 Billion in 2028 and register a steady revenue CAGR of 46.4% over the forecast period, according to latest analysis by Emergen Research.
Rising demand for Augmented Reality
(AR) technology to train, maintain, and assist across various industries such
as healthcare, logistics, and manufacturing, are among some of the major
factors driving revenue growth of the market. Augmented reality increases the
understanding of certain features of the physical world, and derives smart and
accessible insights that can be applied to real-world applications.
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Technological advancements in AR is
also driving revenue growth of the market. Increasing penetration of
smartphones and mobile gaming trend, and adoption of this technology in the
education sector are factors supporting growth of the market. Various
industries are unveiling new generation of AR solutions and applications as
devices are becoming increasingly advanced and powerful, and networks are
continuing to expand in terms of capacity. 5G connectivity and edge computing
have made the technology more feasible, and opened up access to a number of new
potential users.
The report also studies the key companies of the Augmented Reality
market along with analysis of their business strategies, M&A activities,
investment plans, product portfolio, financial standing, gross profit margin,
and production and manufacturing capacities.
Key participants include Microsoft Corporation, Google Inc., Apple
Inc., Zappar Ltd., Sony Corporation, Infinity Augmented Reality Ltd., Wikitude
GmbH, Magic Leap, Inc., Seiko Epson, and Samsung Electronics Co. Ltd.
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Key Benefits of the
Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces
analysis
In-depth 8-year analysis of the Global Augmented Reality Market
Critical understanding of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and
opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
Key Findings from
the Report Suggest:
In February 2021, Nreal launched its
augmented reality smart glasses in Europe and the U.S. The company first
launched its product in Korea, where customers could purchase them bundled with
LG Velvet and the Galaxy Note 20.
Augmented Reality technology enriches
the real world with digital information and media, such as videos and 3D
models, overlaying the camera view of user’s tablet, smartphones, PCs, or
connected glasses in real-time. Augmented reality browsers also enrich camera
display with contextual information. For example, users can point their
smartphone at a building to display its estimated value or history.
Head-up display are installed in
dashboard of the vehicles to display important information and data without
diverting driver from their view position. The head-up display was initially
designed to be used in military aviation but has shifted to personal cars and
other automotive. It eliminates the user’s need to take their eyes off the
road.
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Emergen Research has segmented the global
Augmented Reality (AR) market on the basis of offering, device type,
application, and region:
Offering Outlook (Revenue, USD Billion; 2018–2028)
Hardware
Sensors
Cameras
Display & Projectors
Semiconductor Component
Position/Room Tracker
Others
Software
Device Type Outlook (Revenue, USD Billion;
2018–2028)
Head-mounted Displays
Head-up Displays
Application Outlook (Revenue, USD Billion; 2018–2028)
Healthcare
Automotive
Consumer
Enterprise
Aerospace & Defense
Energy
Commercial
Others
Regional Analysis:
Regional analysis includes an in-depth study of the key geographical
regions to gain a better understanding of the market and provide an accurate
analysis. The regional analysis covers North
America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The
regional analysis covers the analysis of key market segments, including
revenue, CAGR, import/export, supply and demand ratio, production and
consumption ratio, industrial chain analysis, and market dynamics in each
region of the geographies.
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Key questions addressed in the report:
Who are the leading players dominating the
global Augmented Reality Market?
Which factors could potentially hamper the
global market growth during the forecast period?
Which regional market offers the most
attractive growth opportunities to the companies operating in this market?
How is the raw material availability
affecting the demand for Augmented Reality in this industry vertical?
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