Augmented Reality (AR) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Report Scope

This report analyzes the global augmented reality market in terms of display type, component, end-use application, and geography. On the basis of display type, the global augmented reality market is segmented in to head mounted displays (HMD), handheld displays, head-up displays (HUD), and spatial displays. Furthermore, based on component, the market is segmented into hardware (display, sensors, and semiconductor component), and software. Similarly, on the basis of end-use application, the market for augmented reality is classified into consumer (gaming, and entertainment), commercial, healthcare, defense and aerospace, and others (automotive, engineering and design, etc.)). The geographical distribution of the global augmented reality market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Report Description

Purpose of the Report

The purpose of this strategic research study titled “Augmented Reality Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 - 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the augmented reality market.

Target Audience

• Industry Investors
• Head Mounted Display Manufacturers
• Other AR-based Device Manufacturers
• Software Developers
• End-users

USP and Key Offerings

The report titled “Global Augmented Reality Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 - 2029” offers strategic insights into the global augmented reality market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on display type, component, end-use application, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the key industry participants, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments. Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive sub-markets within the augmented reality market
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2018 - 2019)
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global augmented reality market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.

Based on component, the global augmented reality (AR) market is segmented into following categories

• Hardware
• Display
• Sensor
• Semiconducting Material
• Software

In the base year of 2020, the hardware segment comprising displays, semiconducting material, and sensors dominated the global augmented reality (VR) market. The segment accounted over three-fourth of the global market revenue in the same year. The display segment is the largest revenue contributing sub-segment and is poised to witness strong growth during the forecast period. The anticipated growth is majorly on account of widespread use of displays on augmented reality based devices including head mounted displays (HMD), handheld devices, and head-up displays among others. Sensors used in such devices track the activities of users and change view accordingly. On the other hand, the augmented reality software market is poised to offer attractive investment opportunities for technology developers in the coming years. The growth is majorly expected to be driven by the need for frequent software updates. The market for augmented reality software is presumed to surpass that of hardware by 2020.

There has been a lot of hype surrounding the potential of augmented reality (AR) technology as both hardware device and software platform. “Based on display type, the augmented reality (VR) market is categorized into following segments:

• Head Mounted Display (HMD)
• Handheld Displays
• Head-up Displays
• Spatial displays

In the base year of 2020, the handheld displays dominated the global augmented reality (AR) market. The segment accounted for over two third of the global augmented reality (AR) market revenue in the same year. The trend shall prolong and the segment is poised to retain its leading position over the forecast period 2021 - 2029. The perpetually growing demand for mobile devices such as smartphones and tablets are expected to drive the growth of the augmented reality market for handheld devices. On the other hand, head mounted displays (HMD) are also poised to exhibit robust growth during the forecast period. The escalating demand for head mounted displays in defense and consumer space is expected to favor the augmented reality market growth during the forecast period 2021 - 2029.

While the augmented reality (AR) technology was predominantly used in consumer space for gaming and entertainment applications, the recent advancements in technology have extended the application base of augmented reality to varied verticals including commercial, healthcare, defense and surveillance, and architectural design among others. “On the basis of end-use application, the augmented reality (AR) market is categorized into following segments:

• Consumer
• Gaming
• Entertainment
• Commercial
• Defense and Aerospace
• Healthcare
• Automotive
• Others (Architectural Design, etc.)

In the base year of 2020, the consumer segment comprising gaming and entertainment was the major application segment in the global augmented reality (AR) market. The use of augmented reality in consumer applications is poised to witness steady growth during the forecast period 2021 - 2029. Gaming is the largest revenue contributing segment to the consumer augmented reality market. On the other hand, growing adoption of head mounted displays, head-up displays, and handheld displays in defense for applications including training and simulation, navigation, and enemy tracking is expected to bolster the augmented reality market in defense and aerospace sector.

On the basis of geography, the global augmented reality (AR) market is segmented into following regions and countries.

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia Pacific
• Japan
• China
• India
• Rest of Asia Pacific
• Rest of the World
• Latin America
• Middle East
• Africa

As of 2020, North America comprising the United States and Canada spearheaded the global augmented reality market. The region accounted for over 35% of the global market revenue in the same year. The U.S. represents the largest and most attractive individual augmented reality market worldwide. The multitude of research in the field of augmented reality coupled with the high acceptance for the technology across verticals is instrumental in fueling market momentum in the region. Over the forecast period 2021 - 2029, North America is expected to remain the largest augmented reality market worldwide. On the other hand, Asia Pacific is presumed to exhibit robust growth, outpacing developed markets like North America and Europe during the forecast period 2021 - 2029. We expect increased technology penetration and intensifying competition in the emerging economies of Asia Pacific as display manufacturers and software developers seek to gain first-mover advantage.


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