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Augmented Reality Market Size – USD 15.72 Billion in 2020, Market Growth – at a CAGR of 46.4%, Market Trends – Increasing demand from education sector

VANCOUVER, BC, CANADA, April 18, 2022 /EINPresswire.com/ -- The global Augmented Reality (AR) market size is expected to reach USD 332.60 Billion in 2028 and register a steady revenue CAGR of 46.4% over the forecast period, according to latest analysis by Emergen Research.

Rising demand for Augmented Reality (AR) technology to train, maintain, and assist across various industries such as healthcare, logistics, and manufacturing, are among some of the major factors driving revenue growth of the market. Augmented reality increases the understanding of certain features of the physical world, and derives smart and accessible insights that can be applied to real-world applications.

 Augmented Reality Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2021-2028. The report studies the historical data of the Augmented Reality market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Augmented Reality industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Augmented Reality market.

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The report highlights the current impact of COVID-19 on the Augmented Reality market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Augmented Reality according to the impact of COVID-19.

Major Players/Manufacturers profiled in the report are:

Microsoft Corporation, Google Inc., Apple Inc., Zappar Ltd., Sony Corporation, Infinity Augmented Reality Ltd., Wikitude GmbH, Magic Leap, Inc., Seiko Epson, and Samsung Electronics Co. Ltd.

Some Key Highlights from the Report

In February 2021, Nreal launched its augmented reality smart glasses in Europe and the U.S. The company first launched its product in Korea, where customers could purchase them bundled with LG Velvet and the Galaxy Note 20.

Augmented Reality technology enriches the real world with digital information and media, such as videos and 3D models, overlaying the camera view of user’s tablet, smartphones, PCs, or connected glasses in real-time. Augmented reality browsers also enrich camera display with contextual information. For example, users can point their smartphone at a building to display its estimated value or history.

Head-up display are installed in dashboard of the vehicles to display important information and data without diverting driver from their view position. The head-up display was initially designed to be used in military aviation but has shifted to personal cars and other automotive. It eliminates the user’s need to take their eyes off the road.

Augmented reality is redefining the gaming industry. It creates immersive experiences which allow users to feel that they are interacting personally with their digital environment. Augmented reality games can be played on tablets, smartphones, and portable gaming systems. In February 2020, Red Bull launched a series of AR games, ‘Discover Your Wiiings,’ featuring five Red Bull athletes. It provides gamers the opportunity to engage with custom augmented reality games for a chance to win prizes, including a skateboard, custom activation surfboard, Scott helmet, custom computer case, and remote-controlled race car.

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Emergen Research has segmented the global Augmented Reality (AR) market on the basis of offering, device type, application, and region:

Offering Outlook (Revenue, USD Billion; 2018–2028)

Hardware

Sensors

Cameras

Display & Projectors

Semiconductor Component

Position/Room Tracker

Others

Software

Device Type Outlook (Revenue, USD Billion; 2018–2028)

Head-mounted Displays

Head-up Displays

Application Outlook (Revenue, USD Billion; 2018–2028)

Healthcare

Automotive

Consumer

Enterprise

Aerospace & Defense

Energy

Commercial

Others

Regional Analysis of the Augmented Reality Market Includes:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report offers a complete understanding of the Augmented Reality market in key regions with respect to regional production and consumption patterns, import/export, supply and demand dynamics, trends, growth prospects, and the presence of prominent players in each region. Each of the mentioned regions is analyzed based on the comprehensive market data obtained from the major countries of each region to impart a clear understanding of the market.

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The report offers insightful information about the market dynamics of the Augmented Reality market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Augmented Reality market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Augmented Reality market.

Key Coverage of the Augmented Reality Market:

Insightful information regarding the global Augmented Reality market

Identification of growth in various segments and sub-segments of the Augmented Reality market

Strategic recommendations for investment opportunities

The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate

Emerging trends and current market segment analysis to help investors formulate new business strategies

Accelerates the decision-making process through the availability of the drivers and limitations

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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