A recent report published by Infinium Global Research on the augmented reality market provides in-depth analysis of segments and sub-segments in the global as well as regional augmented reality market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional augmented reality market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global augmented reality market. According to the report, the global augmented reality market is projected to grow at a CAGR of 41% over the forecast period of 2021-2027.

Market Insight

Augmented Reality (AR) technology combines virtual information with the real world by using Multimedia, 3D-Modelling, Real-time Tracking and Registration, Intelligent Interaction, Sensing, and more.

The factors such as rising demand for AR devices and applications in healthcare, growing demand for AR in retail and e-commerce sectors due to COVID-19, increasing investments in the AR market, increasing demand for AR devices and technology in the global automotive industry are driving the global Augmented Reality market. Augmented reality joint with computer vision and IoT improves the core of advanced navigation solutions and ADAS systems in the automotive industry. This, in turn, results in enhanced safety for a driver and contributes to the development of an automotive connectivity ecosystem. Furthermore, Augmented Reality technology has many possible applications in a wide range of fields, including entertainment, education, medicine, engineering, and manufacturing. However, security and privacy issues associated with AR hinder market growth. Moreover, continuous developments in 5G technology are anticipated to boost the market over the forecast period.  The coronavirus pandemics have caused public health, economic, and social problems. As novel technology, Virtual Reality has been used in many fields for emergency management of disasters. Innovators within the augmented reality field have long extolled the value of these technologies across industries as diverse as healthcare, education, and media. Considering the unique opportunities AR offer during this lockdown, it’s high time we take a closer look at how they’re opening up the world.

Geographically, North America holds the maximum market share in the augmented reality market owing to the presence of numerous PC game development companies. The adoption of augmented reality technology is growing rapidly in the North American region for various applications. For instance, USA TODAY, the multi-platform news and information Media Company launched Augmented Reality to Mobile App. The app delivers a one-of-a-kind augmented reality experience for the users. In addition, the Asia Pacific region is the fastest-growing region in the augmented reality market. The factors such as the rising adoption of advanced technology, huge demand for smartphones and tablets, and growing use of augmented reality across various sectors drive the growth of the augmented reality market in the Asia Pacific region.

Segment Covered

The report on global augmented reality market covers segments such as component, display, and application. On the basis of component, the sub-markets include hardware, and software. On the basis of display, the sub-markets include HMD & smart glass, HUD, and handheld devices. On the basis of application, the sub-markets include aerospace & defense, automotive, education, e-commerce & retail, gaming & entertainment, healthcare, industrial & manufacturing, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Google LLC, Microsoft Corporation, Samsung, Magic Leap, Inc, Sony Corporation, Blippar Ltd, Niantic, Inc, Zappar Ltd, Wikitude GmbH, and Vuzix Corporation.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the augmented reality market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.