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Global Augmented Reality Market to reach USD 393.48 billion by the end of 2029

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

Product Code: ICTNGT-74682765
Publish Date: 20-03-2023
Page: 200

Global Augmented Reality Market is valued at approximately USD25.33 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 40.9% over the forecast period 2022-2029. 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.

The growthof augmented reality (AR) is seen in several applications by providingexperience using 2D/3D models, AR books, and AR games. The highest demand is witnessed by the healthcare industry, the adoption of 3D imaging technology is driving the demand for augmented reality. In 2017 the total market share for the 3D imaging industry accounted to be around USD 800 million. In 2020 it was projected that several hospitals adopted AR Devices for aiding patients. AR Technology in construction, architectural and consumer application is evolving rapidly. The uncertain pandemic led to a positive effect on the market growth of augmented reality. The businesses turned to remote and online work further creating a demand for AR. For instance, during the pandemic, the U.S. employee number working from home increased to 44%. Moreover, increasing investments in augmented reality and continuous advancements and formulation are boosting the market demand. However, the harmful effects of excessive use ofAugmented Reality stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Augmented Reality Marketstudy includes Asia Pacific, North America, Europe, Latin America, and Rest of the World.North America dominated the market with a market share of 33.9%. This region is a fast adopter of new technologies in gaming and entertainment applications. The rising interest of individuals in augmented reality (AR) experience is playing a major role. 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.

Major market player included in this report are:
Microsoft Corporation
Google LLC
Apple, Inc.
Sony Corporation
Infinity Augmented Reality Limited
Niantic, Inc.
Zappar Limited.
Qualcomm Technologies, Inc.
Wikitude GmbH

Recent Developments in the Market:
 In February 2022, Microsoft partnered with Qualcomm to produce industry-first chip to cloud solutions for private organizations to easily implement private 5G networks globally.
 In March 2021, a new product was launched ‘Microsoft Mesh’ by Microsoft. This allows its user to interact and share experiencesfrom anywhere across an AR meeting space.
Global Augmented Reality Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Display, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
By Display:
HMD & smart glass
Handheld devices
By Application:
Aerospace & Defense
E-Commerce & Retail
Gaming & Entertainment
Industrial & Manufacturing
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Augmented Reality Market, by Region, 2019-2029 (USD Billion)
1.2.2. Augmented Reality Market, by Component,2019-2029 (USD Billion)
1.2.3. Augmented Reality Market, by Display, 2019-2029 (USD Billion)
1.2.4. Augmented Reality Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Augmented Reality Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Augmented Reality Market Dynamics
3.1. Augmented Reality Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Growing use in several applications. Positive effect of COVID-19.
3.1.2. Market Challenges Harmful effects of excessive use of Augmented Reality.
3.1.3. Market Opportunities Increasing investment in Augmented Reality. Advancements and Formulation.
Chapter 4. Global Augmented Reality MarketIndustry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Augmented Reality Market, by Component
6.1. Market Snapshot
6.2. Global Augmented Reality Market by Component, Performance – Potential Analysis
6.3. Global Augmented Reality Market Estimates & Forecasts by Component 2019-2029 (USD Billion)
6.4. Augmented Reality Market, Sub Segment Analysis
6.4.1. Hardware
6.4.2. Software
Chapter 7. Global Augmented Reality Market, by Display
7.1. Market Snapshot
7.2. Global Augmented Reality Market by Display, Performance – Potential Analysis
7.3. Global Augmented Reality Market Estimates & Forecasts by Display2019-2029 (USD Billion)
7.4. Augmented Reality Market, Sub Segment Analysis
7.4.1. HMD & smart glass
7.4.2. HUD
7.4.3. Handheld devices
Chapter 8. Global Augmented Reality Market, byApplication
8.1. Market Snapshot
8.2. Global Augmented Reality Market by Application, Performance – Potential Analysis
8.3. Global Augmented Reality Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
8.4. Augmented Reality Market, Sub Segment Analysis
8.4.1. Aerospace & Defense
8.4.2. Automotive
8.4.3. Education
8.4.4. E-Commerce & Retail
8.4.5. Gaming & Entertainment
8.4.6. Healthcare
8.4.7. Industrial & Manufacturing
8.4.8. Others
Chapter 9. Global Augmented Reality Market, Regional Analysis
9.1. Augmented Reality Market, Regional Market Snapshot
9.2. North America Augmented Reality Market
9.2.1. U.S.Augmented Reality Market Componentbreakdown estimates & forecasts, 2019-2029 Display breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Augmented Reality Market
9.3. Europe Augmented Reality Market Snapshot
9.3.1. U.K. Augmented Reality Market
9.3.2. Germany Augmented Reality Market
9.3.3. France Augmented Reality Market
9.3.4. Spain Augmented Reality Market
9.3.5. Italy Augmented Reality Market
9.3.6. Rest of EuropeAugmented Reality Market
9.4. Asia-PacificAugmented Reality Market Snapshot
9.4.1. China Augmented Reality Market
9.4.2. India Augmented Reality Market
9.4.3. JapanAugmented Reality Market
9.4.4. Australia Augmented Reality Market
9.4.5. South Korea Augmented Reality Market
9.4.6. Rest of Asia PacificAugmented Reality Market
9.5. Latin America Augmented Reality Market Snapshot
9.5.1. Brazil Augmented Reality Market
9.5.2. MexicoAugmented Reality Market
9.6. Rest of The World Augmented Reality Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Microsoft Corporation Key Information Overview Financial (Subject to Data Availability) ProductSummary Recent Developments
10.2.2. Google LLC
10.2.3. Apple, Inc.
10.2.4. Sony Corporation
10.2.6. Infinity Augmented Reality Limited
10.2.7. Niantic, Inc.
10.2.8. Zappar Limited.
10.2.9. Qualcomm Technologies, Inc.
10.2.10. Wikitude GmbH
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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