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Augmented Reality Market Size, Share, Growth, and Forecast Report 2030
The global augmented reality market is expected to grow at a 29% CAGR between 2021 and 2028, from USD 17.14 billion in 2020 to USD 128 billion in 2028.
Augmented reality is used in a variety of industries, including manufacturing, healthcare, and education. The increased usage corresponds to the introduction of new AR devices.
Over the forecast period, providing end consumers with a unique and interactive experience is expected to drive market growth. Businesses are putting in a lot of effort to create new strategies for capitalising on the capabilities of augmented reality (AR) technology. Smartphones and smart glasses are gaining in popularity.
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Growth Factors
As wearable technology, GPS, and augmented reality become more intertwined, demand for augmented reality services is expected to rise. The augmented reality market is expanding as people use their smartphones and tablets more frequently. The augmented reality industry's growth may be hampered by user interface issues. It also shows how technological inefficiency in the study of various physical challenges has impacted the augmented reality industry.
Segment Analysis Preview
The augmented reality market is divided into four segments: display, component, region, and application. This technological breakthrough combines hardware and software (semiconductors, displays, and sensors). In the coming years, the hardware industry is expected to grow rapidly.
Regional Analysis Preview
With China quickly becoming the world's largest e-commerce market, e-commerce is increasingly becoming a top priority for APAC companies. The growing commercial demand for AR devices and software will contribute to the growth of the APAC AR industry. Expanding investment in countries such as Japan, India, and China, as well as growing consumer and commercial sectors, will propel the APAC AR industry forward. Matka Satta.
Key Market Players Competitive Landscape
Some of the key players in the Augmented Reality market are Magic Leap, Immersion, Apple, Daqri LLC, Sony, Blippar, Microsoft, Wikitude, Google, PTC, CyberGlove Systems Inc., Infinity Augmented Reality, Eon Reality, Inc., ODG, Samsung Electronics among others. These players are all set to place the augmented reality market to new heights. The global Augmented Reality market is segmented as follows:
By Component
Hardware (Sensor, Semiconductor, and Display)
Software
By Display
Head-mounted display
Head-up display
Handheld display
Spatial display
By Application
Aerospace Defense
Industrial
Consumer
Commercial
E-Commerce
Retails
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East Africa
GCC
South Africa
Rest of Middle East Africa
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