Augmented Reality Market Size, Revenue Analysis, Opportunities, Trends, Product Launch, 2021–2028

Increased smartphone adoption, app integration with AR, and an expanding gamer base seeking more immersive gaming experiences are driving market revenue growth.

According to Emergen Research, the global Augmented Reality (AR) market is expected to reach USD 332.60 billion in 2028, with a revenue CAGR of 46.4% over the forecast period.

Rising demand for Augmented Reality (AR) technology to train, maintain, and assist in various industries such as healthcare, logistics, and manufacturing are among the major factors driving market revenue growth. Augmented reality improves understanding of physical world features and generates smart and accessible insights that can be applied to real-world applications.

The increasing use of AR technology in construction and architectural applications is expected to play a significant role in driving market growth. AR technology has the potential to assist in the generation of a 3D model of a blueprint and in connecting imagination with reality. AR technology can also be used in the education industry to improve students’ learning experiences. AR technology can aid in the development of different skill sets in students by providing an immersive experience using 2D/3D models, AR books, and AR games, thereby driving the growth of the augmented reality market.

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According to a market report predicting the future of Augmented Reality in various departments, many components are involved in the boost of Augmented Reality. The displayers and predictors of augmented pictures are hardware components such as computers, smartphones, and other handheld smart devices that have cameras to capture media acts. WIFI, Bluetooth, and GPS are used to connect real-time objects to virtual objects based on their geographical location. A head-mounted display (HMD), contact lenses, and eyewear (particularly by Google) display information and media that may or may not be real in a virtual representation of objects. Speech recognition systems are the newest Augmented Reality members that argue and work on the human voice. We can use our voices to control our phones and other smart devices. The Amazon Echo Dot, Google Home and Apple Siri are the most basic examples of Augmented Reality, which has taken the world by storm.

The global augmented and virtual reality market is influenced by several factors such as the proliferation of smartphones, the rise in popularity of gaming, the cost-effective benefits of augmented and virtual reality-based solutions, and the surge in enterprise adoption of AR and VR technologies. However, during the forecast period, a lack of good user experience design is expected to stymie market growth. These factors, taken together, provide opportunities for market growth. Each factor, however, has a distinct impact on the market.

Leading manufacturers profiled in the report:

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.

Augmented Reality Market Segmentation:

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

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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