Press release
Augmented Reality Market Size 2022 at 29.5% CAGR by Growth, Statistics, Top Key Players and Forecast 2029
The Global Augmented Reality Market is forecast to reach USD 144.43 billion by 2029 by rising at a compound annual growth rate (CAGR) of 29.5% throughout the forecast period from 2022 to 2029Augmented Reality Market Overview
The market's expansion is anticipated to be significantly influenced by the expanding usage of AR technology in construction and architectural applications. Potential applications of AR technology include creating a 3D representation of a plan and bridging the gap between fantasy and reality. The education sector may potentially benefit from the usage of augmented reality technology to improve student learning. With the use of 2D/3D models, AR books, and AR games, AR technology may help create an immersive experience that will help students acquire a variety of skill sets, which will ultimately fuel the expansion of the augmented reality industry.
Through haptic, aural, visual, tactile, and other sensory modalities, augmented reality delivers participatory experiences. The technology has a wide range of uses in the training, educational, and entertainment industries. Manufacturing, healthcare, logistics, among other sectors, are putting increasing emphasis on implementing this technology for instruction, upkeep, support, and monitoring. In the near future, it is anticipated that rising smartphone usage and app integration would accelerate market expansion.
The global Augmented Reality market report widely offers the latest information about technological developments and market growth forecasts based on the regional landscape.
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Industry Development
in July 2021, Samsung Electronics America Inc. partnered with GBL Systems Corporation to deploy 5G testbeds for augmented reality at U.S. Army military bases. This partnership will help the U.S. Army in mission planning and training.
In January 2021, Magic Leap partnered with Google Cloud to deliver Magic Leap enterprise solutions on the Google Cloud Marketplace and explore potential new cloud-based, spatial computing solutions running on Google Cloud.
Research Methodology:
To calculate the market size, the report considers the revenue generated from the sales of Augmented Reality market manufacturers. The revenue created from the sales of Augmented Reality Market has been calculated through primary and secondary research.
The market size assessment also considered leading players revenues as part of triangulation the key players considered are Microsoft Corporation, Wikitude GmbH, Zugara, Inc., Google, Inc., PTC, Inc., Magic Leap, Inc., Daqri LLC, Lenovo, Seiko Epson, and Vuzix and Others.
The Augmented Reality Market has been segmented as below:
Augmented Reality Market by Component, 2020-2029, (USD Million)
Hardware
Software
Augmented Reality Market by Display, 2020-2029, (USD Million)
Head-Mounted Display and Smart Glass
Head-Up Display
Handheld Devices
Augmented Reality Market by Application, 2020-2029, (USD Million)
Aerospace & Defense
Automotive
Education
E-Commerce and Retail
Gaming and Entertainment
Healthcare
Industrial and Manufacturing
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Augmented Reality Market: Regional Analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Augmented Reality market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Geographically, the market is dominated by APAC, North America and Europe.
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Major Key areas that have been focused on in the report:
Raw material supply analysis
Major trends noticed in the Global Augmented Reality Market
Market Geographic limitations, and pricing issues
Distribution, scheduling, performance, and supplier requirements
Growth opportunities that may emerge in the industry in the upcoming years
In-depth value chain analysis
Sustainability trends and environmental concerns
Market Gap and Opportunities
Global Market Growth Drivers, Opportunities, and Constraints.
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