Press release
Augmented Reality Market
Augmented Reality Market | 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.
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.
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Some retail organizations are among the early adopters of AR technology. Manufacturers are developing technologies to improve consumer shopping experience by incorporating augmented reality technology in catalog apps. AR helps shoppers to visualize how various products look in different environments. IKEA has an app that allows users to use AR to test IKEA's products in real-time through Apple's iOS.
The latest market intelligence report, titled 'Global Augmented Reality Market', is intended to provide the target audience with the necessary information about the global Augmented Reality industry. The report comprises a detailed analysis of the vital elements of the Augmented Reality market, including key drivers, constraints, opportunities, limitations, threats, and micro-and macro-economic factors. The report carefully investigates the present market scenario and the fundamental growth prospects. The report entails an organized database of the Augmented Reality market dynamics that helps market analysts estimate the global market growth rate over the projected timeline.
Some major companies in the global market report 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.
Key Highlights From the Report
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.
Augmented reality is redefining the gaming industry. It creates immersive experiences which allow users to feel that they are interacting personally with their digital environment. Augmented reality games can be played on tablets, smartphones, and portable gaming systems.
Asia Pacific market revenue is expected to register a rapid growth rate during the forecast period due to availability of high-speed 5G network. Increasing demand for AR technology from China, Japan, and India is expected to propel growth of the market in the region.
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The global Augmented Reality market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Augmented Reality sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
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 Outlook (Revenue, USD Billion; 2018-2028)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
BENELUX
Spain
Norway
Italy
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Israel
Rest Of MEA
Valuable Market Insights:
The report highlights the latest trends observed in the consumption pattern of each regional segment.
Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Augmented Reality market.
The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.
Key Questions Answered in the Report:
What will be the estimated growth rate of the Augmented Reality market by 2028?
Who are the prominent distributors, vendors, and manufacturers of the market?
What are the driving and restraining factors of the growth of the Augmented Reality market throughout the forecast period?
What are the current and future market trends of the Augmented Reality market?
What are the sales and price analysis of the product by types, applications, and regions?
What are the expected opportunities for the companies and new entrants in the coming years?
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