Augmented Reality Market Size, Share, Growth Analysis, By Technology, By Device Type(Head up displays, Helmet mounted displays ), By Application, By Component, By Region

Description

Augmented Reality (AR) Market was valued at USD 32.1 Billion in 2022 and is expected to grow from USD 42.85 Billion in 2023 to reach USD 432.35 Billion by 2031, at a CAGR of 33.5% during the forecast period (2024-2031).

The Augmented Reality (AR) market is experiencing rapid growth driven by its expanding adoption in healthcare, retail, and e-commerce sectors. AR technology integrates digital enhancements into the physical world, enhancing user experiences across various industries. AR devices overlay digital information such as images, videos, and 3D models onto real-world environments, transforming users' perceptions of reality. This dynamic market is currently among the fastest-growing industries, presenting both opportunities and challenges for enterprises and consumers alike. The primary objective of the AR industry is to revolutionize how individuals interact with digital content and information within real-life settings.

Top-down and bottom-up approaches were used to estimate and validate the size of the Augmented Reality (AR) Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Augmented Reality (AR) Market Segmental Analysis

The augmented reality (AR) market has experienced tremendous growth, fueled by substantial investments in recent years. Companies such as Meta, Intel Corporation, Qualcomm, Inc., Alphabet, Inc., Comcast Ventures, and Samsung Group have significantly contributed to the burgeoning AR sector. According to our research, the largest investments are directed towards training and industrial maintenance, amounting to USD 4.1 billion. Additionally, research institutes receive funding from private firms, venture capitalists, and government sources. AR finds applications across various industries including consumer technology, aerospace and defense, healthcare, enterprise solutions, retail, and marketing.

Drivers of the Augmented Reality (AR) Market

The Augmented Reality (AR) Market is expected to be driven by the rise of zoonotic diseases, which are among the most contagious globally. The growing trend of pet adoption as companions contributes to the spread of these animal-borne diseases, highlighting the need for increased awareness of prevention strategies. Additionally, the expansion of therapeutic options is anticipated to boost the demand for veterinary care products. Zoonotic diseases, capable of transmission between animals and humans, present significant public health challenges, emphasizing the necessity for proactive measures to mitigate their spread.

Restraints in the Augmented Reality (AR) Market

The younger generation, particularly gamers, are anticipated to experience heightened health issues associated with augmented reality (AR) as gaming devices and technologies advance. Interactive AR games can immerse users for extended periods, potentially leading to conditions such as anxiety, eye strain, obesity, and reduced concentration. Prolonged use of AR, particularly with headsets, may result in dry eyes, irritation, and fatigue in vision. Such prolonged exposure to unfamiliar visual stimulation poses risks to long-term eye health.

Market Trends of the Augmented Reality (AR) Market

The rising trend of fluctuating customer loyalty and frequent brand switching poses fresh challenges for brands, necessitating innovative customer engagement strategies. Many businesses are turning to AR technologies as a solution to attract and retain customers. For example, according to Adloid.in, a B2B AR solutions provider, companies incorporating their online augmented tools for customer engagement have experienced a significant 200% increase in sales. Additionally, this technology enhances customer service by offering an online support system where customers can interact with agents in real-time while browsing products in-store.

Product Code: SQMIG45J2039

Introduction

Objectives of the Study
Definitions
Market Scope

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Executive Summary

Market Overview Outlook
Supply Demand Trend Analysis
Segmental Opportunity Analysis

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers

Key Market Insights

Technology Analysis
Patent Analysis
Trade Analysis
Value Chain Analysis
Case Study Analysis
- Providing dynamic sales training to teams of Royal Enfield during pandemic using Vuforia Studio
- Transforming dental surgeries with Moverio smart glasses
- First Microsoft HoloLens surgery in Latin America: How AR can change surgical experience for doctors and patients
Ecosystem of the Market
Regulatory Landscape
Innovation Matrix
Top Investment Analysis
Key Success Factor
Degree of Competition

Augmented Reality (AR) Market by Component

Market Overview
Hardware
- Sensors
  - Accelerometers
  - Gyroscopes
  - Magnetometers
  - Proximity sensors
- Semiconductor Components
  - Controllers and processors
  - Integrated circuits
- Displays And Projectors
- Position Trackers
- Cameras
- Others
Software
- Software Development Kits
- Cloud-based services

Augmented Reality (AR) Market by Device Type

Market Overview
Helmet mounted displays (HMD)
- AR Smart Glasses
- Smart Helmets
Head up displays (HUD)

Augmented Reality (AR) Market by Technology

Market Overview
Marker-Based AR Technology
- Passive Markers
- Active Markers
Markerless AR Technology
- Model-based Tracking
- Image Processing-based Tracking
Anchor-Based AR Technology

Augmented Reality (AR) Market by Application

Market Overview
Consumer
- Gaming
- Sports & Entertainment
  - Sports
  - Entertainment
  - Museums (Archaeology)
  - Theme parks
  - Art galleries and exhibitions
- Commercial
  - Retail & E-commerce
    - Jewellery
    - Beauty and cosmetics
    - Apparel fitting
    - Grocery shopping
    - Footwear
    - Furniture & lighting design
  - Travel & Tourism
  - E-learning
- Enterprises (Manufacturing)
- Healthcare
  - Surgery
  - Fitness Management
  - Patient Care Management
  - Pharmacy Management
  - Medical Training and Education
  - Others
- Aerospace & Defense
- Energy
- Automotive
- Others
  - Agriculture
  - Construction
  - Transportation & Logistics
  - Public Safety
  - Telecom/IT Data Centers

Augmented Reality (AR) Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2023
Strategies Adopted by Key Market Players
Recent Activities in the Market
Key Companies Market Share (%), 2023

Key Company Profiles

Apple Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Google LLC (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Samsung (South Korea)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Alibaba (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
AWS (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Microsoft Corporation (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Magic Leap, Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Niantic, Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
PTC Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Atheer Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Blippar (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zugara (Switzerland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Wikitude (Austria)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Unity (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zappar (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
TILTLABS (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Scope AR (Austria)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Vuzix (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Marxent (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
ARToolKit (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Augmented Reality Market Size, Share, Growth Analysis, By Technology, By Device Type(Head up displays, Helmet mounted displays ), By Application, By Component, By Region - Industry Forecast 2024-2031