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Press Release-Augmented Reality (AR) Market to Reach Valuation of USD 78.0 Billion by 2028 - Increasing Demand for Augmented Reality (AR) Devices in Retail and E-commerce Sector to Drive the Market Growth

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Augmented Reality (AR) Market to Reach Valuation of USD 78.0 Billion by 2028 - Increasing Demand for Augmented Reality (AR) Devices in Retail and E-commerce Sector to Drive the Market Growth

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In terms of revenue, the Global Augmented Reality (AR) Market is expected to reach USD 78.0 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 29.8% from 2022 to 2028. The growth of the Augmented Reality (AR) Market is attributed to the factors such as surging demand for Augmented Reality (AR) Market devices and their applications in the healthcare sectors, and the increasing demand for Augmented Reality (AR) Market devices in e-commerce and retail areas due to the spread of coronavirus. Moreover, an increase in internet connectivity and the mobile gaming industry are contributing to the growth of the Augmented Reality (AR) Market during the forecast period.

Key Highlights from the Report

  • The hardware sub-segment is anticipated to grow at a substantial Compound Annual Growth Rate (CAGR). The growth of the hardware segment is mainly attributed to the increasing adoption of Augmented Reality (AR) Market hardware worldwide.

  • The customer sub-segment held a significant market share in 2021. The market growth is attributed to factors such as gaming and entertainment applications, where Augmented Reality (AR) Market technology is used to create 3D visuals in the real world. the thriving gaming and sports in the gaming sector drive the demand for Augmented Reality (AR) Market technology in customer applications in the coming years.

  • Asia Pacific is the fastest regional segment. The thriving manufacturing sector in emerging countries such as China and India is estimated to fuel the growth of the Augmented Reality (AR) Market in the APAC region. The increasing investments in the commercial applications of Augmented Reality (AR) Market are also fueling the growth of the APAC region during the forecast period.

Some of the key players in the Augmented Reality (AR) Market include - [object Object].

Market Dynamics:

The Augmented Reality (AR) Market is experiencing growth due to the increasing demand for Augmented Reality (AR) Market devices and their applications in the healthcare sectors, and the rising demand for Augmented Reality (AR) Market in retail sectors and e-commerce sectors due to the occurrence of coronavirus. Moreover, the rise in the demand for augmented devices and technology in the automotive industry globally, and increasing investments in Augmented Reality (AR) Market are the factors projected to fuel the Augmented Reality (AR) Market growth in the upcoming years.

Growth in internet connectivity and the expanding mobile gaming industry are positively contributing in the growth of the Augmented Reality (AR) Market during the forecast period. The increase in the adoption of Augmented Reality (AR) Market technology in the healthcare sector and rising demand for augmented devices in e-commerce due to covid-19 are expected to drive the Augmented Reality (AR) Market growth in the years to come.

North America is the largest market. North America holds the major share of 43.10% globally. The growth of North America is attributed to rising investments in immersive technologies and driving the demand for advanced technology in the region. The increase in the demand for immersive technologies, strengthens the hold on the Augmented Reality (AR) Market devices are increasing the growth of the Augmented Reality (AR) Market in the North American region in coming years.

About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.

12 Apr 2022

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Historical Data | Base Year 

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Augmented Reality (AR) Market to Reach Valuation of USD 78.0 Billion by 2028 - Increasing Demand for Augmented Reality (AR) Devices in Retail and E-commerce Sector to Drive the Market Growth

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Augmented Reality (AR) Market to Reach Valuation of USD 78.0 Billion by 2028 - Increasing Demand for Augmented Reality (AR) Devices in Retail and E-commerce Sector to Drive the Market Growth