Global Augmented Reality Market

Augmented Reality Market Size, Share, Growth Analysis, By Type(AR based on markers, AR without markers (Location-based AR), By Device Type(Head up displays (HUD), Helmet mounted displays (HMD)), By Application(Healthcare, Education), By Component(Hardware, Software) - Industry Forecast 2024-2031


Report ID: SQMIG45J2039 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 122 | Figures: 77

Augmented Reality Market Insights

Augmented Reality (AR) Market was valued at USD 31.97 Billion in 2019 and is expected to grow from USD 42.04 Billion in 2023 to reach USD 375.90 Billion by 2031, at a CAGR of 31.5% during the forecast period (2024-2031).

The Augmented Reality (AR) Market now occupies its growing position in the technology sector, introducing digital enhancements into the real world to improve users experiences as well as operations of different industries. AR devices impose digital information into real world setting, which can be photos, videos, or three-dimensional figures. This is how users discover their own setting for the reality. The market now has the most intense growth among all industries, because of several factors and provided the enterprise and the consumer with both opportunities and challenges at the same time. The main goal of AR industry is to change the sensation of the individuals in the way of how they engage with the digital content and information in real life settings. The fact is that AR, especially when it comes to the gaming world, enables remote health services, and develops virtual reality further, aims at creating a world where digital and physical interact. Furthermore, there is an enormous scope available with the implementation of AR in Education, Training, Marketing, and as entertainment, where the opportunity for users to create and become more involved is increasing.

The technologies that provide this kind of visual spectacle fall under the same general category as augmented reality, meaning that either natural environments are visually changed in a certain manner, or users get some additional information about what they are seeing. The main advantage of AR is that it works as an interactive medium where all the 2D and 3D components of digital reality connect to a person's perception of the real world. VR is a tool of choice for different purposes ranging from directing to entertainment.

AR provides lip moving, sound and other sensora information in a fashion that can be targeted to a device like a smart phone or glasses. This data is processed by the device for it to create a weave of the real world and the digital one where the real-world user directly perceives the changes. Additionally, the name can be explained, and "green" background or components of the real world, respectively, can be used.

US Augmented Reality Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 31.97 Billion

Largest Segment

Software

Fastest Growth

Hardware

Growth Rate

31.5% CAGR

Global Augmented Reality (AR) Market ($ Bn)
Country Share for North America Region (%)
Global Augmented Reality (AR) Market By Component ($ Bn)
Global Augmented Reality (AR) Market By Component (%)

To get more reports on the above market click here to Buy The Report

Augmented Reality Market Segmental Analysis

The Global Augmented Reality (AR) Market is segmented based on Type, device type, application and regions. Based on Type the market is further sub segmented into AR based on markers and AR without markers (Location-based AR, Projection-based AR, Overlay AR, and Contour-based AR). Based on Device Type, the market is further sub segmented into Head up displays (HUD), Helmet mounted displays (HMD), and Others (Holographic displays, Smart glasses). Based on Component, the market is further sub segmented into Hardware, and Software. Based on Application, the market is further sub segmented into Healthcare, Education, Gaming, and Others (Robotics, engineering, tourism). Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Augmented Reality Market Analysis by Component

The sector of software is an engine that drives the machinery, granting the highest longevity and adaptability throughout its decades of existence. Only in the last few years has the software industry stratified ahead, wowing and blowing away its rivals. An influential report by an industry -wide body of experts puts the software expense ahead of hardware investment by an exceedingly rate of 10% or more annually. The speedy replication of multifaceted solutions answering the demand from across diverse industries is a key driver in the growth. They include artificial intelligence, cloud computing, cybersecurity, as well as digital transformation initiatives. In addition, its intangible characteristic promotes perpetual updates, customization, and the implementations, which ultimately contribute to the software’s staying power in the face of technology progression.

Hardware emerging as the fastest-growing segment within the technological ecosystem. Where robotic software is an eye-grabbing for their intuitive abilities, hardware is underrated that are playing the vital role in building the physical infrastructure required to realize the advancements. The latest software sales reports show a trend towards hardware expansion, and this can be attributed to the emergence of recent high-tech areas, such as the Internet of Things (IoT), Edge processing, and the scaling-up of quantum computing. With advanced technologies the issue still lies in hardware that is fit enough for supporting complex algorithms, heavy data processing and real-time connectivity. The hardware sector is profiting from the fact that industries are rushing towards digitization as the demand is brisk for heavy-duty processors, high-speed network equipment, and advanced storage solutions pushing the hardware sector to a period of rapid growth.

Augmented Reality Market Analysis by Application

The Healthcare sector signals the highest growth segment of the AR industry in that AR technology is already used to revolutionize the ways in which patients are treated, training of medical staff, and diagnostics. The healthcare applications of AR offer an innovative marriage of practicality and imagination. This can be seen in their market share alone. From aiding surgeons to real-time data rather than images and in providing telemedicine solutions with immersive technology, AR is changing the paradigm in health care delivery. In terms of performance, the sector's growth is underpinned by a symbiosis of factors including the emergence of a more sophisticated medical technology and the increasing investments in digital healthcare solutions as well as the global focus on outcome-related and experience-related care.

The Gaming platform arises as the most dynamic and the quickest growing portion of the AR market, inducing vigorous discussions and a high degree of involvement among users all over the world. Virtual reality in gaming is making real-world phenomena more realistic. It makes the gaming immersive which in turn is simply transcending the boundaries of traditional gaming. The tech advances are not stopping as they are becoming more and more sophisticated at the same time. The captivation features AR games now and it attracts audiences of all ages. The branch’s wide-scale financial success is powered by a perfect dump of factors, including the spread of smartphones with AR capacities and the jump of innovative gaming platforms and a booming international community craving for something fresh and immersive.

Global Augmented Reality (AR) Market By Component, 2019 (%)

To get detailed analysis on other segments, Request For Free Sample Report

Augmented Reality Market Regional Insights

North America has emerged as the dominating force in the AR market. The leadership of the information technology industry is the result of not only the presence of leading actors, but also powerful technological support, and a wide range of apps in the fields of gaming, healthcare, retail, and manufacturing. Overall, the major tech hubs, including Silicon Valley, keep on driving innovation in augmented reality forward in this region and companies with the financial capital and talent pool as such are also able to expand with the same knowledge.

Asia Pacific is the second largest as well the fastest-growing region in the AR market. China, Japan and South Korea show a growing interest in AR services because of the impact of higher smartphone level access, enormous residential areas and governmental programs to develop technology. The industry in the area has been thriving, and the entertainment sector, marketing firms and retail have started to use AR widely. Consequently, these areas become AR regions' growth sources. The adoption of AR applications by businesses and consumers in Asia Pacific is diverse and driven by many reasons, hence, the region is predicted to sustain steady growth, thereby giving AR companies more influential causes to focus on the area for emerging opportunities and increasing market prospects.

Global Augmented Reality (AR) Market By Region, 2024-2031
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Augmented Reality Market Dynamics

Augmented Reality Market Driver

Rising investments in AR

  • The AR market has grown exponentially with the dramatic rise of investments on it during the recent years. The Facebook Corporation, Intel Corporation, Qualcomm, Inc., Alphabet, Inc., Comcast Ventures, Samsung Group, are among a list of companies who are pumping in a lot of money, in the augmented reality sector. Besides, the market is flooding with research institutes which are involved in the research of the AR application market for different products and applications. Besides that, research institutes are being funded by private firms and venture capitalists, and some governments are funding some. Industries that include consumer, aerospace and defense, healthcare, enterprises, retail, and marketing are among the user base of AR.

Increasing Adoption of AR Technology in the Healthcare Industry

  • Hospitals and other medical care setups are rapidly seeing the use of immersive modalities to aid healthcare professionals. The technology gives a realistic and a better experience with the environment which helps in doing real and better tasks. The beginning was difficult, the amount of information was small, the organ surgeries were complex and physically exhausting. Unlike in the past, current-day surgeons can now rely on AR to alleviate the little number of risks involved, thereby, resulting in fewer errors and accordingly unsafe surgeries. Analogous to that, the technology features the potential for engaging and interactive medical learning where the applied and hands-on knowledge is key. For instance, the startling announcement was made by Immersive Touch, an AR-oriented medical technology firm, about co-operation with the Mayo Clinics to provide Holo-X-Ray view of the anatomy of their patients' X-rays to aid surgeons. By providing a joining force, modern augmented reality systems both noninvasively help surgeons and enhance the surgical efficiency of orthopaedic procedures.

Restraints 

Health issues associated with excessive usage of AR

  • Being people one of the most representatives of young population, gamers will reportedly have increased AR-related health problems due to the advancement of new gaming devices, technologies and so on. The interactive AR games can very well put the user under the powerful wile of the game for many hours and ailments such as anxiety, eye strain, obesity, and poor concentration may surface. In terms of AR technology, you immerse yourself completely and excessively in that reality for extended periods of time, which could have negative effects such as anxiety and stress.  

Adoption due to hardware limitations and infrastructure requirements:

  • While AR technology provides possibility of practical application across diverse sectors of sectors gaming, healthcare, education and retail, the capability of compatible devices with such computing power that can detect, and process signals becomes a problem. Not only it but also ensuring a smooth integration of AR with the companies' and organizations' data- and network-infrastructure, which can create obstacles for firms and organizations intending to apply AR technologies, similarly present challenges. To break the barrier would require a huge investment in research, development, and structure, also the issues of privacy, safety and usability must be resolved.

 

Request Free Customization of this report to help us to meet your business objectives.

Augmented Reality Market Competitive Landscape

The Augmented Reality market is leading technology companies including Apple, Facebook (that was rebranded Meta), and Google leaving nothing to be desired. Apple's accessibility stronghold with the support of ARKit renders a broad range of AR app builders who can build amazing AR experiences for iPhones and iPads. Meta mirrors Oculus headsets in a bid to attain a bridge among virtual and with a priority on social interaction. On the other hand, Google released AR Core, its platform for developers on top of Android devices, and has experimented with smart glasses (Solbrille) with its Google Glass (which lacked any success). On top of these so-called tech giants, there are several specialized AR hardware companies, like Magic Leap and Vuzix, who are getting into targets at this point, offering more AR-focused headsets which are — big enterprise applications. Highly competitive environment which positions collaborative partnerships and competing between both large players and niche specialists encourages innovation. Merits are made through meeting the criteria of user friendliness, hardware accessibility, developing software that encourages widespread AR usage and enhanced experience by diversity.

Augmented Reality Market Top Player's Company Profiles

  • Apple Inc.
  • Google LLC
  • Microsoft Corporation
  • Magic Leap, Inc.
  • Niantic, Inc.
  • PTC Inc.
  • Atheer Inc.
  • Upskill
  • Blippar
  • Daqri
  • Zugara
  • Wikitude
  • Infinity AR
  • Catchoom
  • Zappar
  • Re'Flekt
  • Scope AR
  • Vuzix
  • Marxent
  • ARToolKit

Augmented Reality Market Recent Developments

  • In January 2024, Qualcomm Technologies entered a collaboration with RayNeo for developing next-generation market leading AR glasses. This collaboration brings together the expertise of industry leading technology providers to redefine the future of AR glasses.

  • In March 2023, Snap Inc. has introduced ARES, its AR Enterprise Services, designed to seamlessly integrate Snap's AR technology into businesses' platforms for immersive consumer experiences. The inaugural focus is on retail, with initial clients including Goodr, Princess Polly, and Gobi Cashmere.

  • In March 2023, Augmedics, a trailblazer in augmented reality (AR) surgical navigation, has unveiled new, FDA-approved functionalities and applications for its xvision Spine System®. This significant update, following the company's recent achievement of treating its 3,000th patient, marks the most extensive expansion of xvision since its introduction to the market.

Augmented Reality Key Market Trends

  • Increasing Demand for Enhanced Customer Experience to Boost Market Growth: In today’s world, the most important factor that determines business growth becomes managing the relationships with customers. Increasing number of fickle-minded customers and rapid frequent change of brands is creating new challenges for brands which demand innovative customer engagement solutions. A substantial amount of business is currently utilizing AR technologies to make their customers fall in love with their brand and products as they will experience a unique and engaging experience that can keep their customers satisfied in the long run. For example, as reported by Adloid.in, a business-to-business solutions provider of AR, clients integrating the provider's online augmented tools for customer engagement see a rise in sales by 200%. Infosys assert in a white paper that the brand which featuring customized service is have a much higher growth in revenue than those which not. This would mean that the use of technology, along with marketing, provides a way to make interactions with customers more personal. Moreover, the technology will empower the customer service with online customer support system, where the customers can see and chat with agents while they shop at the store.

Augmented Reality Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. SQ identified the key dominating segments of the Augmented Reality Market by offerings and verticals.

According to our global Augmented Reality (AR) market analysis, the augmented reality (AR) market continues to witness substantial growth driven by advancements in technology, increasing demand for AR applications across various industries, and rising investments in AR-enabled devices and software solutions. With the proliferation of smartphones and tablets equipped with AR capabilities, consumer adoption of AR applications for gaming, entertainment, and social media experiences is on the rise. More and more people are using AR on their smartphones and tablets for fun activities like gaming and social media. But it's not just for play – AR is also making waves in serious fields like healthcare, education, and retail, where it's being used for things like medical training and virtual shopping experiences. the ongoing development of AR glasses and headsets by tech giants like Apple, Google, and Microsoft is expected to unlock new opportunities for immersive experiences and enterprise applications. However, challenges such as privacy concerns, limited content availability, and technological barriers to seamless integration remain significant hurdles to widespread AR adoption. But overall, the outlook for AR is exciting. As long as companies keep investing in research and development, and people stay interested, AR is set to change the way we interact with the world – for the better.

Report Metric Details
Market size value in 2019 USD 31.97 Billion
Market size value in 2031 USD 375.90 Billion
Growth Rate 31.5%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • AR based on markers, AR without markers (Location-based AR, Projection-based AR, Overlay AR, and Contour-based AR)
  • Device Type
    • Head up displays (HUD), Helmet mounted displays (HMD), and Others (Holographic displays, Smart glasses)
  • Application
    • Healthcare, Education, Gaming, Others (Robotics, engineering, tourism)
  • Component
    • Hardware, Software
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Apple Inc.
  • Google LLC
  • Microsoft Corporation
  • Magic Leap, Inc.
  • Niantic, Inc.
  • PTC Inc.
  • Atheer Inc.
  • Upskill
  • Blippar
  • Daqri
  • Zugara
  • Wikitude
  • Infinity AR
  • Catchoom
  • Zappar
  • Re'Flekt
  • Scope AR
  • Vuzix
  • Marxent
  • ARToolKit
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Augmented Reality Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Augmented Reality Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Augmented Reality Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Augmented Reality Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Augmented Reality Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Augmented Reality Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

The augmented reality market is expected to grow at a compound annual growth rate of 40.9% from 2022 to 2030 to reach USD 597.54 billion by 2030.

Smart glasses are expected to grow at the highest CAGR in the augmented reality market.

Augmented Reality (AR) Market was valued at USD 31.97 Billion in 2019 and is expected to grow from USD 42.04 Billion in 2023 to reach USD 375.90 Billion by 2031, at a CAGR of 31.5% during the forecast period (2024-2031).

The Augmented Reality market is leading technology companies including Apple, Facebook (that was rebranded Meta), and Google leaving nothing to be desired. Apple's accessibility stronghold with the support of ARKit renders a broad range of AR app builders who can build amazing AR experiences for iPhones and iPads. Meta mirrors Oculus headsets in a bid to attain a bridge among virtual and with a priority on social interaction. On the other hand, Google released AR Core, its platform for developers on top of Android devices, and has experimented with smart glasses (Solbrille) with its Google Glass (which lacked any success). On top of these so-called tech giants, there are several specialized AR hardware companies, like Magic Leap and Vuzix, who are getting into targets at this point, offering more AR-focused headsets which are — big enterprise applications. Highly competitive environment which positions collaborative partnerships and competing between both large players and niche specialists encourages innovation. Merits are made through meeting the criteria of user friendliness, hardware accessibility, developing software that encourages widespread AR usage and enhanced experience by diversity. 'Apple Inc.', 'Google LLC', 'Microsoft Corporation', 'Magic Leap, Inc.', 'Niantic, Inc.', 'PTC Inc.', 'Atheer Inc.', 'Upskill', 'Blippar', 'Daqri', 'Zugara', 'Wikitude', 'Infinity AR', 'Catchoom', 'Zappar', 'Re'Flekt', 'Scope AR', 'Vuzix', 'Marxent', 'ARToolKit'

Being people one of the most representatives of young population, gamers will reportedly have increased AR-related health problems due to the advancement of new gaming devices, technologies and so on. The interactive AR games can very well put the user under the powerful wile of the game for many hours and ailments such as anxiety, eye strain, obesity, and poor concentration may surface. In terms of AR technology, you immerse yourself completely and excessively in that reality for extended periods of time, which could have negative effects such as anxiety and stress.  

Increasing Demand for Enhanced Customer Experience to Boost Market Growth: In today’s world, the most important factor that determines business growth becomes managing the relationships with customers. Increasing number of fickle-minded customers and rapid frequent change of brands is creating new challenges for brands which demand innovative customer engagement solutions. A substantial amount of business is currently utilizing AR technologies to make their customers fall in love with their brand and products as they will experience a unique and engaging experience that can keep their customers satisfied in the long run. For example, as reported by Adloid.in, a business-to-business solutions provider of AR, clients integrating the provider's online augmented tools for customer engagement see a rise in sales by 200%. Infosys assert in a white paper that the brand which featuring customized service is have a much higher growth in revenue than those which not. This would mean that the use of technology, along with marketing, provides a way to make interactions with customers more personal. Moreover, the technology will empower the customer service with online customer support system, where the customers can see and chat with agents while they shop at the store.

North America has emerged as the dominating force in the AR market. The leadership of the information technology industry is the result of not only the presence of leading actors, but also powerful technological support, and a wide range of apps in the fields of gaming, healthcare, retail, and manufacturing. Overall, the major tech hubs, including Silicon Valley, keep on driving innovation in augmented reality forward in this region and companies with the financial capital and talent pool as such are also able to expand with the same knowledge.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Augmented Reality Market

Product ID: SQMIG45J2039

$5,300
BUY NOW GET FREE SAMPLE