Global Augmented Reality Market Report and Forecast 2023-2028

Global Augmented Reality Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global augmented reality market reached a value of USD 30.25 billion in 2022. Aided by the technological advancements, heightened consumer engagement, and broader application in numerous sectors, the market is projected to further grow at a CAGR of 41.8% between 2023 and 2028 to reach a value of USD 246 billion by 2028.

Augmented Reality is a cutting-edge technology that superimposes computer-generated images, sounds, or sensations onto a user's perception of the real world, offering an enriched experience. From mobile apps that overlay historical information on tourist landmarks to complex industrial applications for maintenance and training, AR's integration is vast and rapidly growing.

One of the principal accelerants for the global augmented reality market growth is the widespread adoption of smartphones and mobile devices. As these devices become more sophisticated and accessible, the realm of AR applications has witnessed a substantial expansion, specifically in gaming, social media, and e-commerce. The unparalleled success of AR-based games and apps demonstrates the technology's potential to transform user experience by bridging the digital and physical worlds.

Moreover, the business world has started to harness the potential of AR for a multitude of purposes, leading to a greater augmented reality market demand. In retail, for example, AR applications allow consumers to try on clothes or preview furniture in their homes virtually. This has not only elevated the shopping experience but also played a pivotal role in the e-commerce sector, offering a more tangible shopping experience in a digital sphere.

Further diversifying its applications, the AR technology is making inroads into sectors like healthcare, where it assists in advanced surgeries by overlaying critical information during the procedure. Similarly, in the realm of education, AR tools are enhancing learning experiences, making complex subjects more accessible and engaging for students.

According to the augmented reality market analysis, industries are increasingly considering AR for its operational efficiencies. The manufacturing and automotive sectors employ AR for maintenance, training, and design purposes. By overlaying virtual schematics or instructions onto physical objects, AR significantly reduces error rates and streamlines complex processes, demonstrating its transformative impact across various industrial landscapes.

The burgeoning growth of AR is further cemented with tech giants and startups alike pouring resources into AR hardware, from advanced AR glasses to enhanced camera technologies. These investments are a testament to the technology's potential and the industry's belief in its future ubiquity.

Market Segmentation

The market can be divided based on component, type, device, technology, application, and region.

Market Breakup by Component
  • Software
  • Hardware
Sensors

Semiconductors

Displays and Projectors

Position Trackers

Cameras

Others

Market Breakup by Type
  • Marker-Based
  • Marker-Less
  • Location-Based AR
Market Breakup by Device
  • Head-Mounted Display
  • Head-Up Display
  • Smart Glass
Market Breakup by Technology
  • Monitor Based
  • Mobile Based
  • Near Eye
Market Breakup by Application
  • Automotive
  • Healthcare
  • Military and Defence
  • Education
  • Retail
  • Engineering
  • Real Estate
  • Entertainment
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global augmented reality market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Google LLC
  • Microsoft Corporation
  • PTC Inc.
  • Epson America, Inc.
  • Apple Inc.
  • Lenovo Group Limited
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Augmented Reality Market Analysis
8.1 Key Industry Highlights
8.2 Global Augmented Reality Historical Market (2018-2022)
8.3 Global Augmented Reality Market Forecast (2023-2028)
8.4 Global Augmented Reality Market by Component
8.4.1 Software
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Hardware
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Type
8.4.2.4.1 Sensors
8.4.2.4.1.1 Market Share
8.4.2.4.1.2 Historical Trend (2018-2022)
8.4.2.4.1.3 Forecast Trend (2023-2028)
8.4.2.4.2 Semiconductors
8.4.2.4.2.1 Market Share
8.4.2.4.2.2 Historical Trend (2018-2022)
8.4.2.4.2.3 Forecast Trend (2023-2028)
8.4.2.4.3 Displays and Projectors
8.4.2.4.3.1 Market Share
8.4.2.4.3.2 Historical Trend (2018-2022)
8.4.2.4.3.3 Forecast Trend (2023-2028)
8.4.2.4.4 Position Trackers
8.4.2.4.4.1 Market Share
8.4.2.4.4.2 Historical Trend (2018-2022)
8.4.2.4.4.3 Forecast Trend (2023-2028)
8.4.2.4.5 Cameras
8.4.2.4.5.1 Market Share
8.4.2.4.5.2 Historical Trend (2018-2022)
8.4.2.4.5.3 Forecast Trend (2023-2028)
8.4.2.4.6 Others
8.5 Global Augmented Reality Market by Type
8.5.1 Marker-Based
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Marker-Less
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Location-Based AR
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Augmented Reality Market by Device
8.6.1 Head-Mounted Display
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Head-Up Display
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Smart Glass
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.7 Global Augmented Reality Market by Technology
8.7.1 Monitor Based
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Mobile Based
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Near Eye
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.8 Global Augmented Reality Market by Application
8.8.1 Automotive
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Healthcare
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Military and Defence
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Education
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Retail
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
8.8.6 Engineering
8.8.6.1 Market Share
8.8.6.2 Historical Trend (2018-2022)
8.8.6.3 Forecast Trend (2023-2028)
8.8.7 Real Estate
8.8.7.1 Market Share
8.8.7.2 Historical Trend (2018-2022)
8.8.7.3 Forecast Trend (2023-2028)
8.8.8 Entertainment
8.8.8.1 Market Share
8.8.8.2 Historical Trend (2018-2022)
8.8.8.3 Forecast Trend (2023-2028)
8.8.9 Others
8.9 Global Augmented Reality Market by Region
8.9.1 North America
8.9.1.1 Market Share
8.9.1.2 Historical Trend (2018-2022)
8.9.1.3 Forecast Trend (2023-2028)
8.9.2 Europe
8.9.2.1 Market Share
8.9.2.2 Historical Trend (2018-2022)
8.9.2.3 Forecast Trend (2023-2028)
8.9.3 Asia Pacific
8.9.3.1 Market Share
8.9.3.2 Historical Trend (2018-2022)
8.9.3.3 Forecast Trend (2023-2028)
8.9.4 Latin America
8.9.4.1 Market Share
8.9.4.2 Historical Trend (2018-2022)
8.9.4.3 Forecast Trend (2023-2028)
8.9.5 Middle East and Africa
8.9.5.1 Market Share
8.9.5.2 Historical Trend (2018-2022)
8.9.5.3 Forecast Trend (2023-2028)
9 North America Augmented Reality Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Augmented Reality Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Augmented Reality Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Augmented Reality Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Augmented Reality Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Google LLC
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Microsoft Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 PTC Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Epson America, Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Apple Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Lenovo Group Limited
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Augmented Reality Market: Key Industry Highlights, 2018 and 2028
2. Global Augmented Reality Historical Market: Breakup by Component (USD Billion), 2018-2022
3. Global Augmented Reality Market Forecast: Breakup by Component (USD Billion), 2023-2028
4. Global Augmented Reality Historical Market: Breakup by Type (USD Billion), 2018-2022
5. Global Augmented Reality Market Forecast: Breakup by Type (USD Billion), 2023-2028
6. Global Augmented Reality Historical Market: Breakup by Device (USD Billion), 2018-2022
7. Global Augmented Reality Market Forecast: Breakup by Device (USD Billion), 2023-2028
8. Global Augmented Reality Historical Market: Breakup by Technology (USD Billion), 2018-2022
9. Global Augmented Reality Market Forecast: Breakup by Technology (USD Billion), 2023-2028
10. Global Augmented Reality Historical Market: Breakup by Application (USD Billion), 2018-2022
11. Global Augmented Reality Market Forecast: Breakup by Application (USD Billion), 2023-2028
12. Global Augmented Reality Historical Market: Breakup by Region (USD Billion), 2018-2022
13. Global Augmented Reality Market Forecast: Breakup by Region (USD Billion), 2023-2028
14. North America Augmented Reality Historical Market: Breakup by Country (USD Billion), 2018-2022
15. North America Augmented Reality Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Europe Augmented Reality Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Europe Augmented Reality Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Asia Pacific Augmented Reality Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Asia Pacific Augmented Reality Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Latin America Augmented Reality Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Latin America Augmented Reality Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Middle East and Africa Augmented Reality Historical Market: Breakup by Country (USD Billion), 2018-2022
23. Middle East and Africa Augmented Reality Market Forecast: Breakup by Country (USD Billion), 2023-2028
24. Global Augmented Reality Market Structure

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