Global Augmented Reality Market By Type (Marker-Based Augmented Reality and Marker-Less Augmented Reality), Technology (Monitor-Based Technology and Near-Eye-Based Technology), Offering (Hardware and Software), Device Type (Augmented Reality Devices, Head-Up Display and Handheld Device), Application (Consumer, Commercial, Enterprise, Healthcare, Aerospace and Defense, Energy, Automotive and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Data Bridge Market Research analyses that the augmented reality market will exhibit a CAGR of 45.01% for the forecast period of 2021-2028. Increasing penetration of smartphones and other electronic gadgets, rising investments on cloud-based services by small and medium scale enterprises and rising demand for augmented reality in e-commerce and retail stores are some of the major factors attributable to the growth of augmented reality market. This means that the augmented reality market value would stand tall by USD 152.50 billion by the year 2028.
Augmented reality is a technology that incorporates the digital information with real time user environment. This is done to produce an illusion of the enhanced version of the real world. In other words, augmented reality adds sound, effects, and graphics to enhance the effect and user experience to the existing real time environment.
Rising demand for 3D imaging in the healthcare industry is responsible for the unprecedented growth of the augmented reality market. Increasing digitization especially in developing economies coupled with increased focus on the technological advancements in the field of internet of things will further create lucrative and remunerative growth opportunities for the market. Increasing popularity of e-commerce is also responsible for fostering the augmented reality market growth rate.
However, rising security and privacy issues associated with augmented reality will pose a big time challenge to the market growth rate. High expenditure required for research and development activities on advanced technological solutions will further create hindrances for the growth of the market. Dearth of skilled/ trained professionals or lack of technological expertise especially in developing and under developing economies will further derail the market growth rate. Variations in infrastructure quality across the globe will also act as market growth restraint.
This augmented reality market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on augmented reality market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Augmented Reality Market Scope and Market Size
The augmented reality market is segmented on the basis of type, technology, offering, device type and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the augmented reality market is segmented into marker-based augmented reality and marker-less augmented reality. Marker-based augmented reality segment is sub-segmented into passive marker and active marker. Marker-less augmented reality segment is sub-segmented into model-based tracking and image processing-based tracking.
- On the basis of technology, the micromachining market is segmented into monitor-based technology and near-eye-based technology. Monitor-based technology segment is sub-segmented into mobile augmented reality.
- On the basis of offering, the augmented reality market is segmented into hardware and software. Hardware segment is sub-segmented into sensors, semiconductor component, displays and projectors, position tracker, cameras and others. Sensors segment is further bifurcated into accelerometer, gyroscope, magnetometer and proximity sensor. Semiconductor component segment is further bifurcated into controller/processor and integrated circuits. Software segment is sub-segmented into software development kits, cloud-based services and software function. Software function segment is further bifurcated into remote collaboration, workflow optimization, documentation, visualization, 3D modelling and navigation.
- On the basis of device type, the augmented reality market is segmented into augmented reality devices, head-up display and handheld device. Augmented Reality Devices segment is sub-segmented into head-mounted display. Head-mounted display segment is further bifurcated into AR smart glasses and smart helmets.
- On the basis of application, the augmented reality market is segmented into consumer, commercial, enterprise, healthcare, aerospace and defense, energy, automotive and others. Consumer segment is sub-segmented into gaming, sports and entertainment and entertainment applications. Entertainment applications segment is further bifurcated into museums (archaeology), theme parks and art gallery and exhibitions. Commercial segment is sub-segmented into tourism and sightseeing, e-learning and retail and e-commerce. Retail and e-commerce segment is further bifurcated into jewellery, beauty and cosmetics, apparel fitting, furniture and lighting design, grocery shopping and footwear. Healthcare segment is sub-segmented into surgery, fitness management, patient care management, pharmacy management, medical training and education and others.
Augmented Reality Market Country Level Analysis
The augmented reality market is analysed and market size, volume information is provided by country, type, technology, offering, device type and application as referenced above.
The countries covered in the augmented reality market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, 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).
North America dominates the augmented reality market and will continue to flourish its trend of dominance during the forecast period. Existence of major key players in this region is fostering the market growth. However, Asia-Pacific will score the highest CAGR for the forecast period owing to the increased application of augmented reality by the various end user verticals.
The country section of the augmented reality market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Augmented Reality Market Share Analysis
The augmented reality market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the augmented reality market.
The major players covered in the augmented reality market report are Atheer, Inc., Augmate Corporation, Hewlett-Packard Development Company. L.P., Blippar, Catchoom, DAQRI, EON Reality Inc., Immerseport, Infinity Augmented Reality Ltd, Inglobe Technologies, JBK Consulting, Kudan, Magic Leap, Inc., Marxent Labs LLC, Mortar Studios, PTC, Inc., Pristine Inc., Re’flekt GmbH, Scope AR, Ubimax GmbH, Upskill, Viewar GmbH, Wear S.R.L., Wikitude GmbH and Zugara, Inc among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Augmented Reality Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.