Product ID: SQMIG45J2039
Report ID:
SQMIG45J2039 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
122 |
Figures:
77
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.
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REQUEST FREE CUSTOMIZATIONThe global 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).
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Product ID: SQMIG45J2039