The rising adoption of new augmented reality and mixed reality technologies in various applications helped the population significantly. These devices can help in everyday activities such as searching for information, shopping, and others. Therefore, the global augmented reality (AR) and mixed reality (MR) market is estimated to increase rapidly in the near future.
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Data Bridge Market Research analyses that the augmented reality (AR) and mixed reality (MR) market is expected to reach USD 606,787.07 million by 2029 from USD 23,053.90 million in 2021, growing with a healthy CAGR of 50.5% in the forecast period of 2022 to 2029. The high adoption of augmented reality (AR) and mixed reality (MR) is projected to propel the market's growth due to extensive entertainment, educational, and training applications. Industries such as healthcare, logistics, and manufacturing are more focused on adopting this technology for assistance, training, maintenance, and monitoring applications.
Rise in adoption of augmented reality (AR) and mixed reality (MR) by educational institutes is expected to drive the market's growth rate
Augmented reality and mixed reality (MR) in education allow the students to acquire knowledge through rich immersion and visuals in the subject matter. Furthermore, speech technology also engages the students by offering comprehensive details about the content in voice format. Thus, the concept of e-learning with augmented reality and mixed reality (MR) has become an essential strategy for gathering information, which is anticipated to drive the growth of the global augmented reality (AR) and mixed reality (MR) market significantly.
Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Hardware, Software, Services), Deployment Model (Cloud, On Premise), Distribution Channel (Offline, Online), Device Type (Head Up Display, Head Mounted Display, Projector and Display Wall, Gesture Tracking Devices), Technology (Mobile Augmented Reality, Monitor-Based Technology, Near Eye Based Technology), Application (Workflow Optimization, Marketing Collaboration, Enhanced 2-D and 3-D, Visualizations, 3D Modelling, Documentation, Navigation), End User (Retail and E-Commerce, IT and Telecommunication, Automotive, Aerospace and Defense, Healthcare, Animation, Travel and Tourism, Energy, Media and Entertainment, Education, Construction, Games and Sports, Banking)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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HP Development Company (U.S.), HTC Corporation (Taiwan), Autodesk Inc. (U.S.), Barco (Belgium), Intel Corporation (U.S.), PTC (U.S.), Seiko Epson Corporation (Japan), Ultraleap Limited (U.K.), ASUSTek Computer Inc (Taiwan)., Dell (U.S.), Google (U.S), Sony Corporation (Japan), Lenovo (China), Microsoft (U.S.), SAMSUNG ELECTRONICS CO., LTD. (South Korea), Panasonic Corporation (Japan), RealWear, Inc. (U.S.), Apple (U.S.), Magic Leap, Inc (U.S.)., EON Reality (U.S.), TeamViewer (Germany)
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Data Points Covered in the Report
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The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The augmented reality (AR) and mixed reality (MR) market is segmented on the basis of component, deployment model, distribution channel, device type, technology, application, and end user.
In 2022, the hardware segment is anticipated to dominate the augmented reality (AR) and mixed reality (MR) market
The hardware segment is expected to dominate the global augmented reality (AR) and mixed reality (MR) market with a 51.3% market share due to the increasing adoption of AR and MR devices across various industry verticals, such as construction, education, healthcare and retail,
In 2022, the media and entertainment is projected to hold the largest share of end user segment in the augmented reality (AR) and mixed reality (MR) market
In 2022, the media and entertainment segment holds maximum market share because it provides complete artificial environment and provide the end users a real-world environment experience. The media and entertainment segment is growing with a CAGR of 18.0% in the forecast period of 2022 to 2029.
Major Players
Data Bridge Market Research recognizes the following companies as the major augmented reality (AR) and mixed reality (MR) market players in augmented reality (AR) and mixed reality (MR) market are HP Development Company (U.S.), HTC Corporation (Taiwan), Autodesk Inc. (U.S.), Barco (Belgium), Intel Corporation (U.S.), PTC (U.S.), Seiko Epson Corporation (Japan), Ultraleap Limited (U.K.).
Market Development
Regional Analysis
Geographically, the countries covered in the augmented reality (AR) and mixed reality (MR) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in augmented reality (AR) and mixed reality (MR) market during the forecast period 2021 - 2028
In 2022, North America dominated the augmented reality (AR) and mixed reality (MR) due to advanced research and development of software, favorable startup environment, rich entertainment content production and others. Furthermore, the U.S. is anticipated to dominate the growth of the country because this region has the largest number of end users and popular brand manufacturers of augmented reality (AR) and mixed reality (MR) products.
Asia-Pacific is estimated to be the fastest growing region in augmented reality (AR) and mixed reality (MR) market the forecast period 2021 - 2028
Asia-Pacific is expected to grow during the forecast period due to increased demand for augmented reality technology, rising investments in commercial applications and thriving healthcare and automotive sectors, and the flourishing enterprises and manufacturing sector in China and Japan.
COVID-19 Impact Analysis
The outbreak of COVID-19 has created a major impact on many industries and every country. The government has imposed some strict regulations, such as the shutdown of the sale of non-essential goods, and blocked international trade during the pandemic. The only business dealing in this situation is the essential services allowed to open and run their processes. The increasing use of augmented reality (AR) and mixed reality (MR) in smartphone applications, technological advancements in medical applications, and the rise in demand for remote collaboration were some factors driving the growth of the augmented reality and mixed reality market during the pandemic. Thus, covid-19 left a combined impact on the augmented reality and mixed reality market.
For more detailed information about the augmented reality (AR) and mixed reality (MR) market report, click here – https://www.databridgemarketresearch.com/reports/global-augmented-reality-ar-and-mixed-reality-mr-market
Global Augmented Reality (AR) and Mixed Reality (MR) Market – Industry Trends and Forecast to 2029
Asia-Pacific Augmented Reality (AR) and Mixed Reality (MR) Market – Industry Trends and Forecast to 2029
Europe Augmented Reality (AR) and Mixed Reality (MR) Market – Industry Trends and Forecast to 2029
North America Augmented Reality (AR) and Mixed Reality (MR) Market – Industry Trends and Forecast to 2029
Middle East and Africa Augmented Reality (AR) and Mixed Reality (MR) Market – Industry Trends and Forecast to 2029
Microsoft, SAMSUNG ELECTRONICS CO., LTD. and Google have Dominated Europe Augmented Reality (AR) and Mixed Reality (MR) Market in 2021
Microsoft, SAMSUNG ELECTRONICS CO., LTD. and Panasonic Corporation were Dominating in the North America Augmented Reality (AR) and Mixed Reality (MR) Market in 2021