Augmented Reality (AR) Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR40843
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The augmented reality (AR) market share is expected to increase by USD 108.57 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 31.60%.

This augmented reality (AR) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers augmented reality (AR) market segmentation by application (enterprise, retail, healthcare, media and entertainment, and others) and geography (North America, APAC, Europe, South America, and MEA). The augmented reality (AR) market report also offers information on several market vendors, including Alphabet Inc., Dynabook Inc., Facebook Inc., Microsoft Corp., PTC Inc., Qualcomm Inc., Samsung Electronics Co. Ltd., Upskill, Vuzix Corp., and Zugara Inc. among others.

What will the Augmented Reality (AR) Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Augmented Reality (AR) Market Size for the Forecast Period and Other Important Statistics

 

Augmented Reality (AR) Market: Key Drivers, Trends, and Challenges

The increasing investments in AR technology are notably driving the augmented reality (AR) market growth, although factors such as privacy concerns over ar technology may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the augmented reality (AR) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Augmented Reality (AR) Market Driver

 

One of the key factors driving growth in the augmented reality (AR) market is the increasing investments in AR technology. AR is an emerging technology, and several major players and startups are heavily investing in technology-related innovations. The technology is expected to be used in social media platforms, mobile devices (for virtual conference calls), and automotive devices, as well as in the retail and healthcare industries. As AR is being used every day by millions of people, it requires the delivery of copious amounts of data and vast processing power to deliver information in real-time. Massive investments are required to store vast amounts of data and deliver significant results, for which various vendors are investing in AR technology and engaging in partnerships and acquisitions. Several apps such as real-time text translators, filters on camera apps, social media applications, and interactive maps with exhaustive information use AR technology. Such advanced technologies require heavy investments in enhancing the consumer experience. Vendors, therefore, are investing in AR; these investments will drive the growth of the market during the forecast period.

Key Augmented Reality (AR) Market Trend

The increasing AR integration in mobile devices is another factor supporting the augmented reality (AR) market share growth. Many smartphone vendors such as Apple and Samsung are integrating hardware and software to create an AR mobile platform. Several manufacturers of mobile devices such as smartphones, phablets, and tablets are using AR solutions to enhance user experience and increase the value proposition of mobile devices. The market is expected to grow during the forecast period, owing to the increased popularity and penetration of AR technology in smartphones and tablets. Vendors have produced applications for AR phones to build a mobile AR ecosystem. Consumers can enjoy the AR functionality on their mobile devices owing to the basic computer vision and positional tracking.

Key Augmented Reality (AR) Market Challenge

 

The privacy concerns over AR technology will be a major challenge for the augmented reality (AR) market during the forecast period. AR collects and processes vast amounts of information about users and their environment. AR technology can access the personal data of users and may pose a threat to their privacy. User privacy can also be threatened if hackers gain access to the user's device. There are privacy-related concerns associated with AR smart glasses. These glasses automatically screen and process the user's environment, violating the privacy of the user and those around them. The development of such products may hamper the growth of the augmented reality (AR) market.

This augmented reality (AR) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global augmented reality (AR) market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the augmented reality (AR) market during the forecast period.

Who are the Major Augmented Reality (AR) Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alphabet Inc.
  • Dynabook Inc.
  • Facebook Inc.
  • Microsoft Corp.
  • PTC Inc.
  • Qualcomm Inc.
  • Samsung Electronics Co. Ltd.
  • Upskill
  • Vuzix Corp.
  • Zugara Inc.

 

This statistical study of the augmented reality (AR) market encompasses successful business strategies deployed by the key vendors. The augmented reality (AR) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Alphabet Inc. - The company is involved in offering Augmented Reality through Cloud Anchors, Recording, and many more.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The augmented reality (AR) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Augmented Reality (AR) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the augmented reality (AR) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the application software market includes the following core components:

  • Inputs
  • Software development process
  • Marketing and distribution
  • Post-selling services
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Augmented Reality (AR) Market?

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35% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for augmented reality (AR) in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The demand for Head-up Displays (HUDs) in the region is growing because of the strong presence of major automobile giants. Major players are implementing AR technology to enhance the driving experience. This will facilitate the augmented reality (AR) market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic led to the temporary closure of all commercial, industrial, and educational institutes and facilities in APAC. Countries such as China, North Korea, India, and Australia have been some of the severely affected countries in the region. The use of shared contact products, such as AR headsets, was also banned. This led to a decline in the demand in the augmented reality (AR) market in 2020. However, as the demand for home entertainment solutions increased during the lockdown period, the demand for AR headsets for personal use also increased in 2020. The increase in vaccination rate in 2021 has led to the removal of restrictions, and all commercial, industrial, and educational activities have resumed. This will boost the demand for AR during the forecast period

What are the Revenue-generating Application Segments in the Augmented Reality (AR) Market?

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The augmented reality (AR) market share growth by the enterprise segment will be significant during the forecast period. The increasing applications of AR in enterprises and the level of customization gained from using AR will have a significant impact on the industry. Such applications will increase the adoption of AR by enterprises during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the augmented reality (AR) market size and actionable market insights on post COVID-19 impact on each segment.

 

Augmented Reality (AR) Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 31.60%

Market growth 2021-2025

$ 108.57 billion

Market structure

Fragmented

YoY growth (%)

29.15

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

APAC at 35%

Key consumer countries

US, China, Japan, Germany, UK, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alphabet Inc., Dynabook Inc., Facebook Inc., Microsoft Corp., PTC Inc., Qualcomm Inc., Samsung Electronics Co. Ltd., Upskill, Vuzix Corp., 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 the forecast period

Customization purview

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What are the Key Data Covered in this Augmented Reality (AR) Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive augmented reality (AR) market growth during the next five years
  • Precise estimation of the augmented reality (AR) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the augmented reality (AR) industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of augmented reality (AR) market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Enterprise - Market size and forecast 2020-2025
  • Retail - Market size and forecast 2020-2025
  • Healthcare - Market size and forecast 2020-2025
  • Media and entertainment - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by Application

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Alphabet Inc.
  • Dynabook Inc.
  • Facebook Inc.
  • Microsoft Corp.
  • PTC Inc.
  • Qualcomm Inc.
  • Samsung Electronics Co. Ltd.
  • Upskill
  • Vuzix Corp.
  • Zugara Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The augmented reality (ar) market growth will increase by $108.57 billion during 2020-2025.
The augmented reality (ar) market is expected to grow at a CAGR of 31.6% during 2020-2025.
Technavio has segmented the augmented reality (ar) market by application (Enterprise, Retail, Healthcare, Media and entertainment, and Others) and geographic (North America, APAC, Europe, South America, and MEA).
Alphabet Inc., Dynabook Inc., Facebook Inc., Microsoft Corp., PTC Inc., Qualcomm Inc., Samsung Electronics Co. Ltd., Upskill, Vuzix Corp., Zugara Inc. are a few of the key vendors in the augmented reality (ar) market.
APAC will register the highest growth rate of 34.95% among the other regions. Therefore, the augmented reality (ar) market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the augmented reality (ar) market growth are:
  • Increasing investments in AR technology
The augmented reality (ar) market vendors should focus on grabbing business opportunities from the enterprise segment as it accounted for the largest market share in the base year.
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