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”. 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 is fixed at delivering a comprehensive description of the augmented reality (AR) market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the market. It further examines the ways and components convincing diesel generator market expansion, growth patterns, restricting factors, and market strategies.
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; and
· Comprehensive assessment of the impact of the COVID-19 pandemic on the market.
List of Key Companies Profiled in the Augmented Reality Market Report:
· RealWear, Inc.
· Sixense Entertainment Inc.
· PTC, Inc.
· Vuzix Corporation
· Samsung Electronics Co. Ltd.
· Microsoft Corporation
· Magic Leap, Inc.
· Qualcomm Technologies, Inc.
· Facebook, Inc.
· Upskills.io
· Apple, Inc.
· Google LLC (Alphabet, Inc.)
Regional Insights
Robust Investment Culture to Favor Market Growth in North America
With 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.
COVID-19 Impact Analysis on Augmented Reality Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Augmented Reality Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/augmented-reality-market/download-sampleMarket DynamicsAugmented reality (AR) is among the most prominent technology trends right now.
The technology is growing exponentially with increasing application in industries like manufacturing, utilities, telecommunications, retail, healthcare, and logistics for various uses, including assembly, maintenance and repair, education and training, retail showcasing, and diagnostics.
Augmented reality (AR) is widely employed across industrial and non-industrial applications due to its ability to facilitate tasks, solve complex problems, provide access to resources, and enhance overall experience.
However, security and privacy issues concerning augmented reality and health issues due to excessive usage of augmented reality pose barriers to market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
