With the emergence and long-term Impact of COVID-19, Global Augmented Reality Market to reach USD 393.48 Billion by 2029
Bizwit Research & Consulting LLP’s Recent Analysis on Global Augmented Reality Market is poised to raise up to USD 393.48 Billion by 2029. Augmented Reality is a technology that enhances the users virtual experience of real world through adding sound, effects and graphics. It is a growing trend due to its wider use in a number of applications. AR gives an excellent experience to its user through the combination of the physical and virtual world. Accurate interactions are made in real-time with 3D identification of real and virtual objects. Additionally, COVID-19 laid a positive impact on the augmented reality (AR) market and the wider use of AR in several industries is driving the demand.
Geographically, the global Augmented Reality market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market owing to increasing presence of several leading technology companies, such as Google LLC, and Microsoft, among others. Besides, the regional countries are considered the early adopters of advanced technologies is playing a major role. In terms of sales, Asia-Pacific is anticipated to be the fastest-growing region due to the increasing adoption of AR technologies and AR-based solutions. During the pandemic, healthcare experts shifted to AR technologies in order to trace and aid patients. It improved the patients’ surveillance through live video streaming and face time in the region.
The global Augmented Reality market industry is highly competitive owing to the presence of several key manufacturers such as Microsoft Corporation Google LLC Apple, Inc. Sony Corporation Blippar Limited BLIPPAR COM INDIA PRIVATE LIMITED Infinity Augmented Reality Limited Niantic, Inc. Zappar Limited. Qualcomm Technologies, Inc. Wikitude GmbH.
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Global Augmented Reality Market Size study & Forecast, by Component (Hardware, Software) by Display (HMD & smart glass, HUD, Handheld devices), by Application (Aerospace & Defense, Automotive, Education, E-Commerce & Retail, Gaming & Entertainment, Healthcare, Industrial & Manufacturing, Others) and Regional Analysis, 2022-2029
Key findings of the study suggest:
- Global Augmented Reality Market is anticipated to grow with a healthy growth rate of more than 40.9% over the forecast period 2022-2029.
- North America is anticipated to hold the leading position owing to U.S. government is keen on boosting the adoption of immersive technologies, strengthening the region’s hold on the market share.
- Asia-Pacific is anticipated to emerge as the fastest growing market region due to due to the increasing adoption of AR technologies and AR-based solutions
Bizwit Research & Consulting has considered following segments for the study:
- HMD & smart glass
- Handheld devices
- Aerospace & Defense
- E-Commerce & Retail
- Gaming & Entertainment
- Industrial & Manufacturing
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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