Augmented Reality (AR) Market - Trends Forecast Till 2028

Augmented Reality Market with COVID-19 Impact Analysis, by Device Type (Head-mounted Display, Head-up Display), Offering (Hardware, Software), Application (Consumer, Commercial, Healthcare), Technology and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: November, 2021

Base Year Estimate: 2020

Report ID: D-SE-ARM-442

Format:  

Number of Pages: 290

Domain: Semiconductors & Electronics

Augmented Reality (AR) Market – Trends Forecast Till 2028

The augmented reality market was valued at USD 14.7 billion in 2020 and is projected to reach USD 88.4 billion by 2026; it is expected to grow at a CAGR of 31.5% from 2021 to 2028.

Augmented reality (AR) is an enhanced version of the real physical world that is achieved through the use of digital visual elements, sound or the other sensory stimuli delivered via technology. It is a growing rend among companies involved in mobile computing and business applications in particular.

Surging demand for AR devices and applications in healthcare, growing demand for AR in retail and e-commerce sectors, rising investments in the AR market, increasing demand for AR devices and technology in the global automotive industry are some of the factors that have supported long-term expansion for Augmented Reality (AR) Market.

The ongoing pandemic has increased the demand for AR devices owing to the unexpected situation of lockdowns in key regions (Europe, APAC, and North America). The employees of several organizations are working from home in the wake of COVID-19, thereby increasing the requirement for virtual meetings, training, and conferences.

Augmented Reality (AR) Market Analysis

North America dominated the augmented reality market in 2020 and accounted for a revenue share of around 35.0%. The U.S. accounted for a substantial share of the regional market. The U.S. also leads in terms of the adoption and deployment of the latest technologies. Europe is also expected to witness considerable growth over the forecast period driven by the growing adoption of AR technology in gaming and entertainment applications. Germany is particularly emerging as a gaming hub.

Augmented Reality (AR) Market is segmented into technology, offering, device type, application and region.

On the basis of Technology

  • Marker-Based AR Technology
  • Markerless AR Technology
  • Anchor-Based AR Technology

On the basis of Offering

  • Hardware
  • Software 

On the basis of Device Type  

  • HUDs
  • HMDs

On the basis of Application

  • Consumer
  • Commercial
  • Enterprise (Manufacturing)
  • Healthcare
  • Aerospace & Defense
  • Energy
  • Automotive

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Augmented Reality (AR) Market Primary Respondent

 

Key Players

  • Google, Inc.
  • Ptc Inc.
  • Seiko Epson
  • Microsoft
  • Lenovo
  • Samsung Electronics
  • Apple
  • Wikitude Gmbh
  • Maxst Co. Ltd.
  • Qualcomm

Recent Developments

  • 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.
  • In August 2020, PTC and the University of Sheffield Advanced Manufacturing Research Centre (AMRC) signed an agreement to implement Vuforia Expert Capture across its three locations in the UK.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Augmented Reality (AR) Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 7.1 billion

Growth Rate

CAGR of 10.0% during the forecasting period, 2021-2026

Historical Data

2018-2019

Forecast Years

2021-2026

Base Year

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2026

Report Segmentation

material type, end use, implementation and geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Google, Inc., Ptc Inc., Seiko Epson, Microsoft, Lenovo, Samsung Electronics, Apple, Wikitude,  Gmbh, Maxst Co. Ltd. and Qualcomm.

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