Augmented Reality Market Value

Increase in demand for technology and an increase in adoption of AR in the healthcare sector are contributing to the augmented reality market growth.

PORTLAND, PORTLAND, OR, UNITED STATES, February 16, 2023 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global augmented reality market generated $24.2 billion in 2021, and is projected to reach $411.4 billion by 2031, growing at a CAGR of 33.2% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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Based on component, the hardware segment held the major market share in 2021, holding more than half of the global augmented reality market share, and is expected to maintain its leadership status during the forecast period. However, the same segment, is expected to cite the fastest CAGR of 33.5% during the forecast period. The report also includes segment such as software segment.

On the basis of device type, the handled device segment held the largest market share in 2021, accounting for nearly two-fifths of the global augmented reality market share, and is expected to maintain its leadership status during the forecast period. Nevertheless, the head mounted segment, is expected to cite the highest CAGR of 33.7% during the forecast period.

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In terms of end use, the media and entertainment segment held the largest market share in 2021, accounting for nearly one-thirds of the global augmented reality market share. Furthermore, the same segment is expected to maintain its leadership status during the forecast period. Nevertheless, the healthcare segment, is expected to cite the highest CAGR of 34.9.3% during the forecast period.

Region-wise, the Asia-Pacific region held the major market share in 2021, grabbing more than two-fifths of the global augmented reality market share. Moreover, the Asia-Pacific market is slated to dominate the global market share during the forecast period. However, the same region is expected to cite the fastest CAGR of 33.9% during the forecast period. The report also analyses other regions such as Europe, North America, and LAMEA.

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The key players analyzed in the global augmented reality market report includes Google LLC, Microsoft Corporation, Niantic Inc, Ptc Inc., Apple Inc, Magic Leap Inc, Seiko Epson Corporation, TreeView, and CXR.

Key Findings of the Study:

• Based on component, hardware sub-segment accounted for the highest revenue share and is predicted to show the fastest growth during the forecast period.
• Based on device type, handheld devices sub-segment is predicted to be the most dominant and head mounted display is anticipated to show the fastest growth during the forecast period.
• Based on end-use, media and entertainment sub-segment is predicted to be the most dominant sub-segment and healthcare sub-segment is anticipated to have the fastest growth during the forecast period.

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Related Report:

1. Augmented Intelligence Market

David Correa
Allied Analytics LLP
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