Augmented Reality (AR) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Augmented Reality Market
The augmented reality market size was valued at USD 62.75 billion in 2023, and the market is now projected to grow from USD 93.67 billion in 2024 to USD 1869.40 billion by 2032, exhibiting a CAGR of 45.4% during the forecast period of 2024-2032.
During the COVID-19 pandemic, AR technology gained significant applications in entertainment, training, brand engagement, and quality control. Brands like IKEA, Home Depot, and Louis Vuitton implemented AR for ""try-before-you-bur"" experiences, while hospitals used Virti for mental health training. On-site laborers received supervised expertise from engineers working from home, demonstrating the growing demand for AR technology in various sectors.
Immersive technology is increasingly being used to help healthcare staff. The technology creates a realistic and immersive environment, allowing for more efficient work completion. Previously, inadequate knowledge made sophisticated procedures tiring. AR technology provides real-time notifications to surgeons, reducing possible risks during surgery growing augmented reality market growth.
Retaining customer relationships is crucial for business growth, and innovative customer engagement solutions are being increasingly used. Companies like Adloid.In are experimenting with AR to create a personalized and interactive experience, leading to increased sales. Infosys reports that brands offering customized products are experiencing a six to ten times better sales growth in this era. This era can greatly help marketers provide a customized consumer experience.
Comprehensive Analysis of Augmented Reality Market
The AR market is gaining traction in various industries, including gaming, media, automotive, retail, healthcare, education, manufacturing, and more. AR technology is being used to enhance customer experiences by allowing virtual shopping, product testing, and product visualization. The gaming industry is also embracing AR, with companies expanding its use for games and applications. The healthcare sector is also seeing an increase in AR adoption due to its role in surgeries and patient treatment. The market is segmented into interactive showrooms, driving experiences, virtual fitting rooms, augmented surgeries, medical education, drug information, and more. The automotive industry is focusing on interactive driving experiences, while the retail and healthcare sectors are focusing on virtual fitting rooms and augmented surgeries. The training and upskilling segment is expected to dominate due to the growing demand for safe training sessions.
The North America region lead the augmented reality market share by benefitting a market size of USD 62.75 billion in 2023 due to increased investment in immersive technologies is driving demand in the region. The US government aims to increase adoption of immersive technology and improve the region's market dominance.
Companies like Facebook and Google acquire start-ups to obtain expertise. Companies like Microsoft Corporation, Vuzix Corporation, and Qualcomm Technologies, Inc. collaborate with several sectors to grow their operations. Apple plans to produce AR smart glasses comparable to Google LLC. The firm provides technological apps, like ARKit, allowing developers to create augmented solutions.
In January 2024, Qualcomm Technologies collaborated with RayNeo to build market-leading AR spectacles.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 45.4% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Industry
- Gaming
- Media
- Automotive
- Retail
- Healthcare
- Education
- Manufacturing
- Real Estate/Architecture/Interior Design
- Defense & Aerospace
- Art & Designing
- Law Enforcement
- Others (Government, Logistics, and Others)
By Application
- Interactive Showroom
- Driving Experience
- Virtual Fitting Room
- Brand Engagement
- Space Visualization and Virtual Tours
- Augmented Surgeries
- Medical Education
- Drug Information
- Well Being
- eLearning Apps
- Professional Training
- Developing & Designing
- Training & Upskilling
- Quality Control
- Virtual Walkthrough
- Designing Staging
- Others
By Region
- North America (By Industry, By Application and By Country)
U.S. (By Industry)
Canada (By Industry)
Mexico (By Industry)
- South America (By Industry, By Application and By Country)
Brazil (By Industry)
Argentina (By Industry)
Rest of South America
- Europe (By Industry, By Application and By Country)
U.K. (By Industry)
Germany (By Industry)
France (By Industry)
Italy (By Industry)
Spain (By Industry)
Russia (By Industry)
Nordics (By Industry)
Benelux (By Industry)
Rest of Europe
- Middle East & Africa (By Industry, By Application and By Country)
Turkey (By Industry)
Israel (By Industry)
GCC (By Industry)
North Africa (By Industry)
South Africa (By Industry)
Rest of the Middle East & Africa
- Asia Pacific (By Industry, By Application and By Country)
-
China (By Industry)
Japan (By Industry)
India (By Industry)
South Korea (By Industry)
ASEAN (By Industry)
Oceania (By Industry)
Rest of Asia Pacific
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Augmented Reality Key Players Market Share Insights and Analysis, 2023
- 5. Global Augmented Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Industry (USD)
- 5.2.1. Gaming
- 5.2.2. Media
- 5.2.3. Automotive
- 5.2.4. Retail
- 5.2.5. Healthcare
- 5.2.6. Education
- 5.2.7. Manufacturing
- 5.2.8. Real estate/Architecture/Interior Design
- 5.2.9. Defence & Aerospace
- 5.2.10. Art & Designing
- 5.2.11. Law Enforcement
- 5.2.12. Others (Government, Logistics, etc.)
- 5.3. By Application (USD)
- 5.3.1. Interactive Showroom
- 5.3.2. Driving Experience
- 5.3.3. Virtual Fitting Room
- 5.3.4. Brand Engagement
- 5.3.5. Space Visualization and Virtual Tours
- 5.3.6. Augmented Surgeries
- 5.3.7. Medical Education
- 5.3.8. Drug Information
- 5.3.9. Well Being
- 5.3.10. eLearning Apps
- 5.3.11. Professional Training
- 5.3.12. Developing & Designing
- 5.3.13. Training & Upskilling
- 5.3.14. Quality Control
- 5.3.15. Virtual Walkthrough
- 5.3.16. Designing Staging
- 5.3.17. Others
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. South America
- 5.4.3. Europe
- 5.4.4. Middle East & Africa
- 5.4.5. Asia Pacific
- 6. North America Augmented Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Industry (USD)
- 6.2.1. Gaming
- 6.2.2. Media
- 6.2.3. Automotive
- 6.2.4. Retail
- 6.2.5. Healthcare
- 6.2.6. Education
- 6.2.7. Manufacturing
- 6.2.8. Real estate/Architecture/Interior Design
- 6.2.9. Defence & Aerospace
- 6.2.10. Art & Designing
- 6.2.11. Law Enforcement
- 6.2.12. Others (Government, Logistics, etc.)
- 6.3. By Application (USD)
- 6.3.1. Interactive Showroom
- 6.3.2. Driving Experience
- 6.3.3. Virtual Fitting Room
- 6.3.4. Brand Engagement
- 6.3.5. Space Visualization and Virtual Tours
- 6.3.6. Augmented Surgeries
- 6.3.7. Medical Education
- 6.3.8. Drug Information
- 6.3.9. Well Being
- 6.3.10. eLearning Apps
- 6.3.11. Professional Training
- 6.3.12. Developing & Designing
- 6.3.13. Training & Upskilling
- 6.3.14. Quality Control
- 6.3.15. Virtual Walkthrough
- 6.3.16. Designing Staging
- 6.3.17. Others
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.1.1. By Industry
- 6.4.2. Canada
- 6.4.2.1. By Industry
- 6.4.3. Mexico
- 6.4.3.1. By Industry
- 7. South America Augmented Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Industry (USD)
- 7.2.1. Gaming
- 7.2.2. Media
- 7.2.3. Automotive
- 7.2.4. Retail
- 7.2.5. Healthcare
- 7.2.6. Education
- 7.2.7. Manufacturing
- 7.2.8. Real estate/Architecture/Interior Design
- 7.2.9. Defence & Aerospace
- 7.2.10. Art & Designing
- 7.2.11. Law Enforcement
- 7.2.12. Others (Government, Logistics, etc.)
- 7.3. By Application (USD)
- 7.3.1. Interactive Showroom
- 7.3.2. Driving Experience
- 7.3.3. Virtual Fitting Room
- 7.3.4. Brand Engagement
- 7.3.5. Space Visualization and Virtual Tours
- 7.3.6. Augmented Surgeries
- 7.3.7. Medical Education
- 7.3.8. Drug Information
- 7.3.9. Well Being
- 7.3.10. eLearning Apps
- 7.3.11. Professional Training
- 7.3.12. Developing & Designing
- 7.3.13. Training & Upskilling
- 7.3.14. Quality Control
- 7.3.15. Virtual Walkthrough
- 7.3.16. Designing Staging
- 7.3.17. Others
- 7.4. By Country (USD)
- 7.4.1. Brazil
- 7.4.1.1. By Industry
- 7.4.2. Argentina
- 7.4.2.1. By Industry
- 7.4.3. Rest of South America
- 8. Europe Augmented Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. By Industry (USD)
- 8.1.1. Gaming
- 8.1.2. Media
- 8.1.3. Automotive
- 8.1.4. Retail
- 8.1.5. Healthcare
- 8.1.6. Education
- 8.1.7. Manufacturing
- 8.1.8. Real estate/Architecture/Interior Design
- 8.1.9. Defence & Aerospace
- 8.1.10. Art & Designing
- 8.1.11. Law Enforcement
- 8.1.12. Others (Government, Logistics, etc.)
- 8.2. By Application (USD)
- 8.2.1. Interactive Showroom
- 8.2.2. Driving Experience
- 8.2.3. Virtual Fitting Room
- 8.2.4. Brand Engagement
- 8.2.5. Space Visualization and Virtual Tours
- 8.2.6. Augmented Surgeries
- 8.2.7. Medical Education
- 8.2.8. Drug Information
- 8.2.9. Well Being
- 8.2.10. eLearning Apps
- 8.2.11. Professional Training
- 8.2.12. Developing & Designing
- 8.2.13. Training & Upskilling
- 8.2.14. Quality Control
- 8.2.15. Virtual Walkthrough
- 8.2.16. Designing Staging
- 8.2.17. Others
- 8.3. By Country (USD)
- 8.3.1. United Kingdom
- 8.3.1.1. By Industry
- 8.3.2. Germany
- 8.3.2.1. By Industry
- 8.3.3. France
- 8.3.3.1. By Industry
- 8.3.4. Italy
- 8.3.4.1. By Industry
- 8.3.5. Spain
- 8.3.5.1. By Industry
- 8.3.6. Russia
- 8.3.6.1. By Industry
- 8.3.7. Benelux
- 8.3.7.1. By Industry
- 8.3.8. Nordics
- 8.3.8.1. By Industry
- 8.3.9. Rest of Europe
- 9. Middle East & Africa Augmented Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. By Industry (USD)
- 9.1.1. Gaming
- 9.1.2. Media
- 9.1.3. Automotive
- 9.1.4. Retail
- 9.1.5. Healthcare
- 9.1.6. Education
- 9.1.7. Manufacturing
- 9.1.8. Real estate/Architecture/Interior Design
- 9.1.9. Defence & Aerospace
- 9.1.10. Art & Designing
- 9.1.11. Law Enforcement
- 9.1.12. Others (Government, Logistics, etc.)
- 9.2. By Application (USD)
- 9.2.1. Interactive Showroom
- 9.2.2. Driving Experience
- 9.2.3. Virtual Fitting Room
- 9.2.4. Brand Engagement
- 9.2.5. Space Visualization and Virtual Tours
- 9.2.6. Augmented Surgeries
- 9.2.7. Medical Education
- 9.2.8. Drug Information
- 9.2.9. Well Being
- 9.2.10. eLearning Apps
- 9.2.11. Professional Training
- 9.2.12. Developing & Designing
- 9.2.13. Training & Upskilling
- 9.2.14. Quality Control
- 9.2.15. Virtual Walkthrough
- 9.2.16. Designing Staging
- 9.2.17. Others
- 9.3. By Country (USD)
- 9.3.1. Turkey
- 9.3.1.1. By Industry
- 9.3.2. Israel
- 9.3.2.1. By Industry
- 9.3.3. GCC
- 9.3.3.1. By Industry
- 9.3.4. North Africa
- 9.3.4.1. By Industry
- 9.3.5. South Africa
- 9.3.5.1. By Industry
- 9.3.6. Rest of MEA
- 10. Asia Pacific Augmented Reality Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. By Industry (USD)
- 10.1.1. Gaming
- 10.1.2. Media
- 10.1.3. Automotive
- 10.1.4. Retail
- 10.1.5. Healthcare
- 10.1.6. Education
- 10.1.7. Manufacturing
- 10.1.8. Real estate/Architecture/Interior Design
- 10.1.9. Defence & Aerospace
- 10.1.10. Art & Designing
- 10.1.11. Law Enforcement
- 10.1.12. Others (Government, Logistics, etc.)
- 10.2. By Application (USD)
- 10.2.1. Interactive Showroom
- 10.2.2. Driving Experience
- 10.2.3. Virtual Fitting Room
- 10.2.4. Brand Engagement
- 10.2.5. Space Visualization and Virtual Tours
- 10.2.6. Augmented Surgeries
- 10.2.7. Medical Education
- 10.2.8. Drug Information
- 10.2.9. Well Being
- 10.2.10. eLearning Apps
- 10.2.11. Professional Training
- 10.2.12. Developing & Designing
- 10.2.13. Training & Upskilling
- 10.2.14. Quality Control
- 10.2.15. Virtual Walkthrough
- 10.2.16. Designing Staging
- 10.2.17. Others
- 10.3. By Country (USD)
- 10.3.1. China
- 10.3.1.1. By Industry
- 10.3.2. India
- 10.3.2.1. By Industry
- 10.3.3. Japan
- 10.3.3.1. By Industry
- 10.3.4. South Kore
- 10.3.4.1. By Industry
- 10.3.5. ASEAN
- 10.3.5.1. By Industry
- 10.3.6. Oceania
- 10.3.6.1. By Industry
- 10.3.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Samsung Electronics Co. Ltd.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Apple Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Vuzix Corporation
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Meta Platforms, Inc.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. PTC, Inc.
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Magic Leap, Inc.
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Sony Corporation
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. NVIDIA Corporation
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Qualcomm Technologies, Inc.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Google LLC
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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