Skip to main content

Augmented Reality Market to Hit $65.22 Billion by 2027; Speedy Rise in Smartphone Usage around the World to Broaden Market Horizons: Fortune Business Insights™

Written by Customer Service on . Posted in Mergers And Acquisitions.

Pune, Sept. 02, 2020 (GLOBE NEWSWIRE) — The global augmented reality market size  is projected to reach USD 65.22 billion by 2027, exhibiting a CAGR of 48.3% during the forecast period. Growing presence of AR devices and solutions amid COVID-19 pandemic will create new avenue for expansion in the market, finds Fortune Business Insights™ in its report, titled “Augmented Reality Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, and Software), By Device Type (Head Mounted Display, Heads-Up Display, Handheld Devices, Stationary AR Systems, Smart Glasses, Others), By Industry (Gaming, Media & Entertainment, Automotive, Retail, Healthcare, Education, Manufacturing, and Others), and Regional Forecast, 2020-2027”.Click here to get the short-term and long-term impact of COVID-19 on this market.
Please visit: https://www.fortunebusinessinsights.com/augmented-reality-ar-market-102553
With large swathes of people worldwide confined to their homes to contain the spread of the coronavirus, diverse entities are looking for efficient ways to ensure continuation of work without impediments. AR technology has offered the desired solutions. For instance, first-year medical students at Cleveland’s Case Western Reserve University have been utilizing HoloAnatomy and HoloLens to study the human body from their homes. In May 2020, Facebook also unveiled its prototype AR and virtual reality (VR) technologies to enable employees to work from home in the long-run, even after the pandemic is over. Thus, AR is proving extremely beneficial for remote working as well as remote learning and as a result, its adoption is all set to surge not just during, but also after the COVID-19 pandemic has abated.The report states that the global market value in 2019 stood at USD 2.82 billion and offers the following:Careful evaluation of the factors shaping the size, share, and the growth trajectory of the market;Detailed analysis of all the market segments;Thorough examination of the regional and competitive dynamics of the market; andComprehensive assessment of the impact of the COVID-19 pandemic on the market.
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/sample/augmented-reality-ar-market-102553
Market RestraintPotential Negative Effects of AR on Human Behavior May Slow Down AdoptionA study recently conducted by researchers at Stanford University found that after people had experienced augmented reality through computer-generated simulations, their behaviors and interactions changed in the physical world as well. The findings of the study revealed that subjects who were made to wear AR-powered goggles were unable to distinguish between the virtual world and the real world. According to the researchers, excessive usage of AR is likely to have a significant impact on the social-psychological interactions of people in real-world scenarios. Spreading awareness about this drawback of AR may restrict its adoption. In addition to this, many experts fear that overload of information may confuse and overwhelm the wearer, preventing quick decision-making, which will defeat the purpose of deploying augmented reality (AR) tools in organizations. These shortcomings may limit the augmented reality market growth in the upcoming years.Regional InsightsRobust Investment Culture to Favor Market Growth in North AmericaWith a market size of USD 0.92 billion in 2019, North America is slated to dominate the augmented reality market share during the forecast period. The main reason for the region’s leading position is the favorable investment climate, especially in the domain of information & communication technology (ICT). Moreover, companies in the US and Canada are widening the applicability of AR in different fields, which will play a key role in the long-term development of the market.Promising growth in the automotive, logistics, manufacturing, and gaming industries is expected to be the primary growth driver for the market in Asia Pacific. In Europe, on the other hand, proliferation of companies and start-ups specializing in AR/VR technologies, especially in the UK, is likely to propel the market in the continent.
Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/augmented-reality-ar-market-102553
Competitive LandscapeProduct Diversification to be the Top Growth Strategy for Key PlayersCompetition in the AR market is characterized by the path-breaking innovations introduced by tech giants such as Microsoft and Qualcomm. These behemoths, with their well-established presence, strong financial health, and loyal customer base, are taking constant efforts to enhance their R&D capacities to develop diversified products and broaden the scope of their proprietary offerings.Industry Developments:June 2020: Dimension, a VR specialist based in the UK, announced its collaboration with Microsoft to create extended and mixed reality entertainment content in its volumetric production studios. This content will then be made available on smart devices such as mobiles, tablets, and headsets.February 2020: Qualcomm Technologies released its extended reality reference design headset founded on the company’s Snapdragon XR2 platform. The reference headset will be the world’s first 5G-enabled XR solution featuring superior virtual reality capabilities.List of Key Companies Profiled in the Augmented Reality Market ReportRealWear, Inc. (Washington, United States)Sixense Entertainment Inc. (California, United States)PTC, Inc. (Massachusetts, United States)Vuzix Corporation (Rochester, United States)Samsung Electronics Co. Ltd. (Suwon-si, South Korea)Microsoft Corporation (Washington, United States)Magic Leap, Inc. (Florida, United States)Qualcomm Technologies, Inc. (California, United States)Facebook, Inc. (California, United States)Upskills.io (Virginia, United States)Apple, Inc. (California, United States)Google LLC (Alphabet, Inc.) (California, United States)

Quick Buy – AR Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102553
Detailed Table of ContentIntroductionDefinition, By SegmentResearch Methodology/ApproachData SourcesExecutive SummaryMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPorter’s Five Force AnalysisGlobal Market Share Analysis and Matrix, 2019Key Market Insights and Analysis, By SegmentsGlobal Augmented Reality Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027By Component (Value)HardwareSoftwareBy Device Type (Value)Head Mounted DisplayHead-up DisplayHand Held DevicesStationary AR SystemsSmart GlassesOthersBy Industry (Value)GamingMedia & EntertainmentAutomotiveRetailHealthcareEducationManufacturingOthersBy Region (Value)North AmericaEuropeAsia PacificMiddle East & AfricaLatin America
TOC Continued..
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/augmented-reality-ar-market-102553  
Have a Look at Related Research Insights:NLP Market Size, Share & Industry Analysis, By Deployment (On-Premises, Cloud, and Hybrid), By Technology (Interactive Voice Response (IVR), Text Analytics, Speech Analytics, Pattern and Image Recognition, and Others), By Industry Vertical (Healthcare, Retail, BFSI, Automotive & Transportation, Advertising & Media, Manufacturing, and Others) and Regional Forecast, 2019-2026AI Market Size, Share and Industry Analysis By Component (Hardware, Software, Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, Others), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Government, Others) and Regional Forecast, 2019-2026Virtual Reality Market Size, Share & Industry Analysis, By Offering (Hardware, Software), By Technology (Nonimmersive, Semi-Immersive), By Industry Vertical (Gaming & Entertainment Media, Healthcare, Education, Automotive, Aerospace & Defense, Manufacturing), By Application (Training & Simulation, Educational, Attraction, Research & Development) and Regional Forecast, 2019 – 2026Network Security Market Size, Share & Industry Analysis, By Type(Firewalls, Antivirus and antimalware software, VPN, Data loss prevention, Intrusion prevention systems, Wireless security, Others), By Enterprise Size (SMEs and Large Enterprises), By Deployment (Cloud, On-premises), By Industry (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel and Transportation), and Regional Forecast, 2020-2027Quantum Cryptography Market Size, Share and Global Trend By Component (Hardware & Services), By Services (Consulting, Support and Maintenance, Integration and Deployment), By Applications (Application Security, Network Security, Database Encryption), By Industry Verticals (Banking, Finance Services, Insurance, Consumer Good and Retail, Government & Defence, Healthcare and Life sciences, Telecom and IT) and Geography Forecast till 2025 About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Contact Us:
 Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
 US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.