The global augmented reality market is predicted to exhibit a 41.50% CAGR from 2020 to 2030, asserts Market Research Future (MRFR) in its report. It can augment its valuation to USD 461.25 billion in 2026. MRFR’s report on the augmented reality market focuses on new modes of media for reaching new consumer demographics as well as promotion of niche products for the forecast period (2020-2030). The COVID-19 pandemic and its implications are explored in depth in the market.
Market Scope
The global augmented reality market is fueled by increasing adoption of AR in the healthcare sector. AR has been used in imparting education and training to surgeons on new techniques of surgery for new diseases. The technology can be used on relying on existing patient medical history to make rapid decisions. This has led to emergence of new startups in the healthcare sector and development of new techniques.
Retail and education sectors are expected to be the biggest proponents of AR as the technology is being used to enlighten customers or provide a preview of products. This can lead to a breakthrough of immersive training and pave open new avenues in learning.
But concerns over sharing of private data without the consent of users as well as possibilities of malware infections can pose a challenge to the market.
Get PDF Sample Report + All Related Table and Graphs @ https://www.marketresearchfuture.com/sample_request/1143
COVID-19 Impact Analysis
The COVID-19 pandemic has negatively affected the augmented reality market owing to disruptions in the supply chain caused by lockdowns and trade embargoes. The dependence on a single source of components and raw materials is likely to dampen market prospects. But the inclination towards smart homes owing to the boom in economic growth in certain countries can widen prospects of the market.
Segmentation Analysis
Hardware Component Segment to Register Phenomenal Growth
The hardware segment is set to register a stellar growth rate during the forecast period due to adoption of hardware pertaining to AR. Adoption of AR glasses and gloves for manipulating applications through a platform can drive its demand significantly.
Consumer Electronics to be Leading Application
The consumer electronics application is set to capture a large share of the augmented reality market owing to affinity for games and entertainment applications utilizing AR. AR has been used in bringing virtual objects to the real world and made popular through Pokémon Go.
Regional Analysis
APAC to Capture Considerable Market Share by 2027
Asia-Pacific (APAC) is expected to capture considerable market share owing to applications of AR in the manufacturing sector in China and Japan. Investments in augmented reality by private investors to ensure training of employees in industries can bode well for the market. Implementation of AR for improving the quality of life of individuals with disabilities or imparting education through visual means are prime opportunities for the AR market to flourish in the region.
Competitive Analysis
Google (US), Magic Leap (US), Marxent Labs (US), Microsoft (US), and Lenovo Systems (Hong Kong) are key players in the global augmented reality market.
Industry News
BuzzAR has received funding to the tune of USD 630,000 from Singapore’s Choco Up to expedite development of AR solutions for retail and commerce firms.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/augmented-reality-market-1143
Key Questions Answered in the Market Report:
Q1. What is the expected CAGR in terms of revenue for global Augmented Reality market over the forecast period (2021-2030)?
Q2. What was global Augmented Reality market size in 2030?
Q3. Which are some key factors expected to drive adoption of Augmented Reality platforms going ahead?
Q4. Which was the leading segment in the global Augmented Reality market on the basis of components in 2021?
Q5. Which was a key restraint for growth of the global Augmented Reality market in 2021?
Q6. Which are some of the top companies in the Augmented Reality market report?
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com