Global Augmented Reality Market Overview
Introduction:
Augmented reality deals with the indirect view of a physical environment whose elements are amplified with inputs such as video, sound, or graphics. Augmented reality is accountable for transforming the world of education and healthcare with its numerous applications. Rising penetration of technological advancements in automotive, retail, consumer electronics is influencing the growth of augmented reality market globally. The global augmented reality market accounted for US$ 14.12 billion in 2020 and is estimated to be US$ 473.73 billion by 2030 and is anticipated to register a CAGR of 42.5%.
Impact of COVID-19 on the market
Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR), solutions are expected to substantially contribute while responding to the COVID-19 pandemic and address continuously emerging challenges. The existing situation due to the outbreak of the crisis will inspire healthcare establishments, pharmaceutical vendors, business traders to improve their R&D investments in AI, acting as a core technology for permitting multiple initiatives. The insurance industry is projected to challenge the pressure associated with cost-efficiency. Usage of AI can help in lowering operating costs, and at the same time, can upsurge customer satisfaction during the renewal processes, claims, and other services. This report will quantify the impact of this pandemic on the augmented reality market.
Global Augmented Reality Market Dynamics
Growth in need for AR devices in the healthcare sector
Augmented reality plays a significant part in the healthcare sector. AR can be used to provide a virtual view of a patient, so that physician can notice the condition of the patient’s body parts. This helps the physician to conduct minimally invasive surgeries. The utilization of AR modelling and 3D visualization is predicted to be of great help to the healthcare sector. The applications of AR for training doctors, teaching complex subjects to medical students, improving fitness, managing pharmacy, and supporting and caring patients about they leave the hospital is promoting the growth of the AR market in this sector.
A surge in demand for AR in the retail industry
AR provides a large number of display solutions to the retail industry, which enhances the interaction between retailers and customers. Pop-up stores in the retail segment is an emerging trend for the target market growth. The gesture-based display is a vital part of pop-up stores, coupled with an iPad catalogue and camera, as they aim at boosting customer participation. Furthermore, technological innovations related to high-end products with improved features are anticipated to provide abundant opportunities in the coming years.
Conversely, the unavailability of battery backups and the high setup costs may hinder the global market growth.
Global Augmented Reality Market Segmentation
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.
The global augmented reality market is segmented based on the component, display, application, and region.
On the basis of the component, the global augmented reality market is segmented into hardware and software. Based on the display, the target market is segmented into a head-up display (HUD), head-mounted display (HMD), and smart glass. Based on the application, the target market is classified into aerospace & defence, medical, gaming, industrial, automotive, e-commerce & retail, and others.
Regional Insights:
The global augmented reality market accounted for US$ 14.12 billion in 2020 and is estimated to be US$ 473.73 billion by 2030 and is anticipated to register a CAGR of 42.5%. On region the global augmented reality market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia-Pacific augmented reality market estimated for a maximum CAGR rate of over 80% from 2016 to 2024. China is projected to fuel regional growth with the growing investments in AR devices and software. Further, the proliferation of the smartphone industry in mobile AR market is also boosting the growth of the market in China. Local players such as Tencent, Renren, and Baidu have invested in the technology and are projected to introduce numerous mass-consumer apps that are expected to determine a high level of penetration among the customers. Europe is anticipated to grow at a CAGR of nearly 75% in the coming years led by the rising investments from countries such as Germany and the UK. Additionally, the growing adoption of AR across the automotive and retail industry is predicted to propel the target market growth.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2030 |
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Market Segmentation |
By Component- Hardware and Software By Display– Head-Up Display (HUD), Head Mounted Display (HMD), and Smart Glass By Application – Aerospace & defense, Medical, Gaming, Industrial, Automotive, E-commerce & Retail, and Others |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global augmented reality market report based on component, display, application, and region.
Global Augmented Reality Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Augmented Reality Market Key Players
The key players operating in the global augmented reality market include AU Optronics Corp., Mitsubishi Electric Corporation, LG Display Co., Cambridge Display Technology Ltd., Panasonic Corporation, Sony Corp., Toshiba Corp., Total Immersion, Magic Leap, and Apple. The target market is characterized by new launches and product exhibitions, as key players are trying to increase their customer base with growing investment in R&D operations. For instance, in 2018, British Broadcasting Corporation launched an augmented reality app for Civilisations.
Global Augmented Reality Market Company Profile
- AU Optronics Corp.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Mitsubishi Electric Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
LG Display Co.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Cambridge Display Technology Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Panasonic Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Sony Corp.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Toshiba Corp.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Total Immersion
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Magic Leap
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Apple
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Augmented Reality Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Augmented Reality Strategies
- Key Questions this Study will Answer
- Market Snippet, By Component
- Market Snippet, By Display
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Augmented Reality Market, By Component, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Hardware
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Software
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Augmented Reality Market, By Display, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Head-Up Display (HUD)
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Head Mounted Display (HMD)
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Smart Glass
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Augmented Reality Market, By Application, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Aerospace & defense
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Medical
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Gaming
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Industrial
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Automotive
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- E-commerce & Retail
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Augmented Reality Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Component, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Display, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Component, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Display, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Component, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Display, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Component, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Display, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Component, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Display, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- AU Optronics Corp.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Mitsubishi Electric Corporation
- LG Display Co.
- Cambridge Display Technology Ltd.
- Panasonic Corporation
- Sony Corp.
- Toshiba Corp.
- Total Immersion
- Magic Leap
- Apple
- AU Optronics Corp.
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- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global augmented reality market is segmented based on component, display, application, and region.
Growth in need for AR devices in the healthcare sector is projected to register a significant growth for the global augmented reality market
The Asia-Pacific augmented reality market estimated for a maximum CAGR rate of over 80% from 2016 to 2024.
The target market is characterized by new launches and product exhibitions, as key players are trying to increase their customer base with growing investment in R&D operations.