The Global Augmented Reality Market was valued at US$ 9.8 billion in 2019 and is estimated to grow at a CAGR of 22% through 2030.
Rising penetration of smartphones, proliferation of smartphone based augmented reality solutions, and increased adoption across commercial and industrial applications are the key forces driving the growth of the global augmented reality market. Augmented reality has emerged as a convenience tool which superimposes graphic content over real time environment.
The digital augmentation is overlaid on the surroundings of user to create an immersive experience in real time. Proliferation of augmented reality applications across e-commerce platforms for virtual trial room has witnessed widespread adoption.
Adoption of augmented reality across industrial applications such as condition monitoring or asset health monitoring is anticipated to gain traction in coming years with advancement in technology. Additionally, healthcare professionals are adopting the augmented reality platforms for examining and understanding medical conditions by closely examining the virtual outline.
The automotive cluster and infotainment producers are focusing on development of advanced augmented reality products, which is contributing towards the growth of augmented reality market. Expanding application arena for augmented reality solutions is expected to offer prominent opportunity to technology developers during the forecast period.
Asia Pacific contributed the largest share to the global augmented reality market in 2019 owing to increased demand for augmented reality enabled smartphones across the emerging countries. Increased investment in automotive electronics development and proliferation of augmented reality solutions across automobiles is anticipated to drive the growth of Asia Pacific augmented reality market during the forecast period.
North America contributed a prominent share to the global market owing to deployment of augmented reality solutions across industrial and consumer applications. Adoption of augmented reality powered digital advertising media is expected to contribute towards the growth of North America augmented reality market during forecast period.
Augmented Reality Market Share Analysis, by Geography (2022)
The report titled “Augmented Reality Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global augmented reality market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global augmented reality market is segmented based on component, device type, end use industry, and geography. Based on component, the global augmented reality market is segmented into hardware, software, and services. The hardware components are further sub-segmented into display & projectors, cameras, sensors, and others. Based on device type, the global augmented reality market is segmented into head-mounted displays, head-up Displays (HUD), and smart glass. Based on end use industry, the global augmented reality market is segmented into aerospace & defense, healthcare, energy & utility, consumer electronics, automotive, retail, and others. Based on geography, the global augmented reality market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on augmented reality. Further, market share of prominent companies in the global augmented reality market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the augmented reality companies.
The global augmented reality market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the augmented reality business segment of the company.
Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global augmented reality market.
Major players active in the global augmented reality market include Apple Inc., blippar, Continental AG, DAQRI, Epson, Google LLC, Intel Corporation, Lenovo, Magic Leap, Inc., MAXST Co., Ltd., Microsoft, PTC, Samsung, Spark AR, Upskill, Vuzix, Wikitude GmbH, and Zugara.
Segmentation:
By Component:
By Device Type:
By End-use Industry:
By Geography:
Asia Pacific is the principal contributor to the global Augmented Reality market.
The end-use segments in Augmented Reality market are Aerospace & Defense, Healthcare, Energy & Utility, Consumer Electronics, Automotive, Retail and Others.
Key Augmented Reality market players are Apple Inc., blippar, Continental AG, DAQRI, Epson, Google LLC, Intel Corporation, Lenovo, Magic Leap, Inc., MAXST Co., Ltd., Microsoft, PTC, Samsung, Spark AR, Upskill, Vuzix, Wikitude GmbH, and Zugara.
The sample report for the Augmented Reality Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
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