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.
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
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.
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.
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.