Augmented Reality Market Size, Share, Forecast, & Trends Analysis by Offering, Type, Application, End User, and Geography

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Augmented Reality Market by Offering (Smart Glasses, Headsets), Type, Application (Training & Learning, Gaming, Promotion & Advertising), End User (Retail & E-commerce, Media & Entertainment, Healthcare, Travel & Tourism), and Geography-Global Forecast to 2031

The research report titled 'Augmented Reality Market by Offering (Smart Glasses, Headsets), Type, Application (Training & Learning, Gaming, Promotion & Advertising), End User (Retail & E-commerce, Media & Entertainment, Healthcare, Travel & Tourism), and Geography-Global Forecast to 2031,' provides an in-depth analysis of augmented reality market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.

The augmented reality market is projected to reach $210.1 billion by 2031, at a CAGR of 34.9% from 2024 to 2031.

The growth of this market is driven by the increasing government initiatives for AR implementation, rising demand for AR technology in the retail & e-commerce sectors, and growing adoption in healthcare. However, privacy & security concerns and the high cost of hardware restrain the market's growth.

Additionally, advancements in 5G technology and emerging opportunities in the travel & tourism industry are expected to create market growth opportunities. However, the shortage of skilled professionals is a significant challenge impacting the market's growth.

The augmented reality market is segmented by offering (hardware (head-mounted display (smart glasses, headsets, other head-mounted displays), head-up display), platform, services), type (marker-based AR, marker-less AR), application (training & learning, quality inspection, tourism & visitor experience, remote assistance, designing & modeling, gaming, promotion & advertising, other applications), and end-use industry (industrial & manufacturing, healthcare, education, retail & e-commerce, media & entertainment, transportation & logistics, automotive, travel & tourism, real estate, sales & marketing, other end-use industries). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on offering, the augmented reality market is segmented into hardware, platform, and services. In 2024, the hardware segment is expected to account for the largest share of over 55% of the augmented reality market. The large market share of this segment is attributed to the rising demand for AR technology in the retail & e-commerce sectors, the rapid growth in smartphone sales, and the development of AR smart glasses by market players. In addition, the benefits offered by the hardware segment, such as improved user experience, increased performance, accurate tracking and mapping, user-friendly interfaces, and data visualization, are contributing to the growth of this segment. Moreover, this segment is also projected to register the highest CAGR during the forecast period.

Based on type, the augmented reality market is segmented into marker-based AR and marker-less AR. In 2024, the marker-based AR segment is expected to account for the larger share of the augmented reality market. The large market share of this segment is attributed to advancements in remote assistance systems for navigation in the automotive and travel & tourism sectors and rising demand for AR technology in the entertainment industry. Moreover, the marker-based AR segment is projected to register the highest CAGR during the forecast period.

Based on application, the augmented reality market is segmented into training & learning, quality inspection, tourism & visitor experience, remote assistance, designing & modeling, gaming, promotion & advertising, and other applications. In 2024, the gaming segment is expected to account for the largest share of over 33% of the augmented reality market. However, the promotion & advertising segment is projected to register the highest CAGR during the period. This segment's growth is driven by the widespread use of smartphones and tablets equipped with AR capabilities, the rising need to enhance consumer engagement, and the growing significance of AR in marketing and communications departments.

Based on end-use industry, the augmented reality market is segmented into industrial & manufacturing, healthcare, education, retail & e-commerce, media & entertainment, transportation & logistics, automotive, travel & tourism, real estate, sales & marketing, and other end-use industries. In 2024, the media & entertainment segment is expected to account for the largest share of over 25% of the augmented reality market. However, the healthcare segment is projected to register the highest CAGR during the period. The growth of this segment is driven by the growing development of AR solutions specifically for surgical environments that can enhance precision and reduce risks, the rise of telehealth, and increasing government investment in healthcare institutions.

Based on geography, the augmented reality market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of over 40.0% of the augmented reality market. The presence of prominent augmented reality players is expected to contribute to the high revenue share of this region. However, the market in Asia-Pacific is projected to record the highest CAGR of over 37.5% during the forecast period. The growth of this regional market can be attributed to the increasing government initiatives aimed at promoting the implementation of immersive technologies across various sectors, advancements in 5G technology, and emerging opportunities in the travel & tourism industry. Moreover, the increasing growth of this regional market is attributed to the expansion of regional economies and rapid infrastructure development, particularly in Japan, South Korea, and India.

The key players operating in the augmented reality market are Google LLC (U.S.), PTC, Inc. (U.S.), Seiko Epson Corporation (Japan), Microsoft Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Apple Inc. (U.S.), NVIDIA Corporation (U.S.), Qualcomm Technologies, Inc. (U.S.), Magic Leap, Inc. (U.S.), Vuzix Corporation (U.S.), Lenovo (China), Sony Corporation (Japan), Meta Platform, Inc. (U.S.), Snap Inc. (U.S.), and MAD Gaze (China).

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of offering, type, application, and end-use industry?
What is the historical market size for augmented reality across the globe?
What are the market forecasts and estimates for 2024-2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the augmented reality market?
Who are the major players in the augmented reality market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the augmented reality market?
What are the various strategies adopted by major market players?
What are the geographic trends and high-growth countries?
Who are the local emerging players in the augmented reality market? How do they compete with the other players?

Scope of the Report:

Augmented Reality Market Assessment-by Offering

Hardware
- Head-mounted Display
Smart Glasses
Headsets
Other Head-mounted Displays
- Head-up Display
Platform
Services

Augmented Reality Market Assessment-by Type

Marker-based AR
Marker-less AR

Augmented Reality Market Assessment-by Application

Training & Learning
Quality Inspection
Tourism & Visitor Experience
Remote Assistance
Designing & Modeling
Gaming
Promotion & Advertising
Other Applications

Augmented Reality Market Assessment-by End-use Industry

Industrial & Manufacturing
Healthcare
Education
Retail & E-commerce
Media & Entertainment
Transportation & Logistics
Automotive
Travel & Tourism
Real Estate
Sales & Marketing
Other End-use Industries

Augmented Reality Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- South Korea
- Rest of Asia-Pacific
Latin America
Middle East & Africa

Product Code: MRICT - 104130

1. Market Definition & Scope

1.1. Market Definition
1.2. Currency & Limitations
- 1.2.1. Currency
- 1.2.2. Limitations

2. Research Methodology

2.1. Research Approach
2.2. Data Collection & Validation Process
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecasting
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

3.1. Overview
3.2. Market Analysis, By Offering
3.3. Market Analysis, By Type
3.4. Market Analysis, By Application
3.5. Market Analysis, By End-use Industry
3.6. Market Analysis, By Geography
3.7. Competitive Analysis

4. Market Insights

4.1. Overview
4.2. Factors Affecting Market Growth
- 4.2.1. Drivers
  - 4.2.1.1. Increasing Government Initiatives for AR Implementation
  - 4.2.1.2. Rising Demand for AR Technology in the Retail & E-Commerce Sectors
  - 4.2.1.3. Rising Adoption of AR Technology in the Healthcare Sector
- 4.2.2. Restraints
  - 4.2.2.1. Privacy & Security Concerns
  - 4.2.2.2. High Cost of Hardware
- 4.2.3. Opportunities
  - 4.2.3.1. Advancements in 5G Technology
  - 4.2.3.2. Emerging Opportunities in the Travel & Tourism Industry
- 4.2.4. Challenges
  - 4.2.4.1. Shortage of Skilled Professionals in the Field of Immersive Technologies
4.3. Market Trends
4.4. Case Studies
4.5. Porter's Five Forces Analysis
- 4.5.1. Bargaining Power of Buyers
- 4.5.2. Bargaining Power of Suppliers
- 4.5.3. Threat of Substitutes
- 4.5.4. Threat of New Entrants
- 4.5.5. Degree of Competition
4.6. Regulatory Analysis

5. Augmented Reality Market Assessment-by Offering

5.1. Overview
5.2. Hardware
- 5.2.1. Head-mounted Display
  - 5.2.1.1. Smart Glasses
  - 5.2.1.2. Headsets
  - 5.2.1.3. Other Head-mounted Displays
- 5.2.2. Head-up Display
5.3. Platform
5.4. Services

6. Augmented Reality Market Assessment-by Type

6.1. Overview
6.2. Marker-based AR
6.3. Marker-less AR

7. Augmented Reality Market Assessment-by Application

7.1. Overview
7.2. Training & Learning
7.3. Quality Inspection
7.4. Tourism & Visitor Experiences
7.5. Remote Assistance
7.6. Designing & Modeling
7.7. Gaming
7.8. Promotion & Advertising
7.9. Other Applications

8. Augmented Reality Market Assessment-by End-use Industry

8.1. Overview
8.2. Industrial & Manufacturing
8.3. Healthcare
8.4. Education
8.5. Retail & E-commerce
8.6. Media & Entertainment
8.7. Transportation & Logistics
8.8. Automotive
8.9. Travel & Tourism
8.10. Real Estate
8.11. Sales & Marketing
8.12. Other End-use Industries

9. Augmented Reality Market-by Geography

9.1. Overview
9.2. North America
- 9.2.1. U.S.
- 9.2.2. Canada
9.3. Europe
- 9.3.1. Germany
- 9.3.2. U.K.
- 9.3.3. France
- 9.3.4. Italy
- 9.3.5. Spain
- 9.3.6. Rest of Europe
9.4. Asia-Pacific
- 9.4.1. Japan
- 9.4.2. China
- 9.4.3. India
- 9.4.4. South Korea
- 9.4.5. Rest of Asia-Pacific
9.5. Latin America
9.6. Middle East & Africa

10. Competition Analysis

10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Competitive Dashboard
- 10.4.1. Industry Leaders
- 10.4.2. Market Differentiators
- 10.4.3. Vanguards
- 10.4.4. Emerging Companies
10.5. Market Share Analysis

11. Company Profiles

11.1. Google LLC
11.2. PTC, Inc.
11.3. Seiko Epson Corporation
11.4. Microsoft Corporation
11.5. Samsung Electronics Co., Ltd.
11.6. Apple Inc.
11.7. NVIDIA Corporation
11.8. Qualcomm Technologies, Inc.
11.9. Magic Leap, Inc.
11.10. Vuzix Corporation
11.11. Lenovo
11.12. Sony Corporation
11.13. Meta Platform, Inc.
11.14. Snap Inc.
11.15. MAD Gaze

Note: SWOT Analysis of the Top 5 Companies Will Be Provided*

12. Appendix

12.1. Available Customization
12.2. Related Reports