Augmented Reality Market with Strong Focus on Industry Size, by Financial Highlights, Market Segments & Forecast to 2028

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Increasing adoption of smartphones and integration of apps with AR and expanding gamer base seeking more immmersive gaming experiences are driving market

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”

— Emergen Research

VANCOUVER, BC, CANADA, May 30, 2022 /EINPresswire.com/ — The 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.

Technological advancements in AR is also driving revenue growth of the market. Increasing penetration of smartphones and mobile gaming trend, and adoption of this technology in the education sector are factors supporting growth of the market. Various industries are unveiling new generation of AR solutions and applications as devices are becoming increasingly advanced and powerful, and networks are continuing to expand in terms of capacity. 5G connectivity and edge computing have made the technology more feasible, and opened up access to a number of new potential users.

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The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.

Key Players 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.

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Some Key Highlights

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.

Furthermore, the report provides a comprehensive overview of the Augmented Reality market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.

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Market Dynamics:

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.

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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

Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Augmented Reality market expected to boost the growth of the industry in the coming years.

Radical Highlights of the Augmented Reality Market Report:

Comprehensive overview of the Augmented Reality market along with analysis of the changing dynamics of the market

Growth Assessment of various market segments throughout the forecast period

Regional and global analysis of the market players, including their market share and global position

Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market

Impact of the technological developments and R&D advancements on the Augmented Reality market

Information about profit-making strategies and developmental strategies of major companies and manufacturers

Insightful information for the new entrants willing to enter the market

Details and insights about business expansion strategies, product launches, and other collaborations

The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis

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The global Augmented Reality (AR) market size is expected to reach USD 332.60 Billion in 2028



Article originally published on www.einpresswire.com as Augmented Reality Market with Strong Focus on Industry Size, by Financial Highlights, Market Segments & Forecast to 2028

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