Augmented Reality (AR) Market Size is set to Grow by USD 157.21 Billion at a CAGR of 28.71% from 2022 to 2027, Historic market size valued at USD 18.06 Billion between 2017 and 2021

NEW YORK, March 3, 2023 /PRNewswire/ — The augmented reality (AR) market is projected to increase at a CAGR of 28.71% during the forecast period – 2022 to 2027 by Technavio data analysts and research experts. This market research report also suggests statistics about the market size that will grow by USD 157.21 billion. For exclusive market statistics and other relevant market information, historic (2017 to 2021) and forecast market size (2023 to 2027) buy the report.

The growing value of investments in AR technology, increasing demand from the various application segments, and the rising adoption rate of AR-enabled smart glasses are projected as the prominent factors leading to the augmented reality (AR) market growth. For more such market analysis updates, historic (2017 to 2021) and forecast market size (2023 to 2027) request the sample report.

What`s New for 2023?

New Business Opportunities – Market Segments and Key Regions Analysis

There are various segments such as enterprise, retail, media and entertainment, healthcare, and others classified in the augmented reality (AR) market as per Technavio’s analysts.

Among all, the enterprise segment is projected as the most significant one in terms of market share growth during the forecast period – 2022 to 2027. The segment first witnessed a gradual rise in the market share of USD 5.27 billion in 2017 and continued to grow significantly by 2021.

Considering the geographical regions for market share growth, North America is projected at the top of the list. 37% of the total market share growth will be originated from North America by 2027. Technavio further suggests, the US and Canada have played a major role in the development of AR technologies that people popularly use in their daily lives.

The market growth in these countries, especially France and Germany, was witnessed due to the governments’ collaborative schemes to develop different policies at the national level.

Furthermore, the growing adoption rate of AR in several industries and growth in expenditure on technology is predicted to boost the AR industry growth in the region during the forecast period 2022 to 2027.

To find more detailed segment analysis and geographical business distribution,  historic (2017 to 2021) and forecast market size (2023 to 2027), download the sample of the report.

Major Market Vendors

Technavio also includes a detailed analysis of the market’s competitive landscape and offers key information on the vendors, such as:

Key Market Driver, Trend, and Challenge

Major Data Covered in this Augmented Reality (AR) Market Report

Related Reports

Augmented Reality (AR) Market Scope

Accelerate at a CAGR of 28.71%

North America, APAC, Europe, South America, and Middle East and Africa

US, China, Germany, UK, Canada, Mexico, Italy, Spain, Japan, Australia,  and South Korea

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Alphabet Inc., Atheer Inc, Dynabook Inc., Facebook Inc., Inglobe Technologies Srl, Marxent Labs LLC, Maxst Co. Ltd., Microsoft Corp., Optinvent, PTC Inc., Qualcomm Inc., RealWear Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., Sony Group Corp., Ultraleap Ltd., Upskill, Vuzix Corp., Wikitude GmbH, and Zugara Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

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SOURCE Technavio