Augmented Reality Market to be Worth $152.9 Billion by 2030

Augmented Reality Market by Offering (Smart Glasses, Headsets), Type, Application (Training & Learning, Gaming, Promotion & Advertising), End-use Industry (Retail & E-commerce, Media & Entertainment, Healthcare, Travel & Tourism) - Global Forecast to 2030

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Augmented Reality Market by Offering (Smart Glasses, Headsets), Type, Application (Training & Learning, Gaming, Promotion & Advertising), End User (Retail & E-commerce, Media & Entertainment, Healthcare, Travel & Tourism) - Global Forecast to 2030.’

According to this latest publication from Meticulous Research^®, the augmented reality market is projected to reach $152.9 billion by 2030, at a CAGR of 33.3% during the forecast period. The growth of the augmented reality market is driven by increasing government initiatives for AR implementation, surging demand for AR in the retail & e-commerce sector, and rising adoption of AR in the healthcare sector. However, privacy & security concerns and the high cost of hardware may restrain the market's growth.

Furthermore, the increasing development in 5G technology and the new growth market for AR in the travel & tourism industry are expected to offer significant opportunities for the augmented reality market. However, a shortage of skilled professionals may hinder the growth of this market.

Meticulous Research^® has segmented this market based on offering, type, application, end-use industry, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on all the offerings studied in this report, in 2023, the hardware segment is expected to account for the largest share of the augmented reality market. The large market share of this segment is attributed to the increasing adoption of AR-powered devices in the entertainment industry, rapid growth in smartphone sales, and the development of AR smart glasses by market players.

Based on all the types studied in this report, in 2023, the marker-based AR segment is expected to account for the larger share of the augmented reality market. The large market share of this segment is attributed to the rapid advancement in remote assistance systems for navigation in the automotive and travel & tourism sector.

Based on all the applications studied in this report, in 2023, the gaming segment is expected to account for the largest share of the augmented reality market. The large market share of this segment is attributed to the increasing gaming habits in teenagers and the increasing demand for smartphones and gaming consoles.

Based on all the end-use industries studied in this report, in 2023, the media & entertainment segment is expected to account for the largest share of the augmented reality market. The large market share of this segment is attributed to the increasing adoption of AR for gaming applications and new opportunities for AR in the media & entertainment industry.

Based on all the geographies studied in this report, in 2023, North America is expected to account for the largest share of the augmented reality market. The North America region's major market share can be attributed to the increasing government initiatives to implement immersive technologies across various sectors, growing investment in digital infrastructure, and the presence of leading players in the region.

Key Players

The key players operating in the augmented reality market are Google LLC (U.S.), PTC, Inc. (U.S.), Seiko Epson Corporation (Japan), Microsoft Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Apple Inc. (U.S.), NVIDIA Corporation (U.S.), Qualcomm Technologies, Inc. (U.S.), Magic Leap, Inc. (U.S.), Vuzix Corporation (U.S.), Lenovo (China), Sony Corporation (Japan), Meta Platform, Inc. (U.S.), Snap Inc. (U.S.), and MAD Gaze (China).

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Key questions answered in the report-

Which are the high-growth market segments in terms of offering, type, application, end-use industry, and geography?
What is the historical market for augmented reality across the globe?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, and opportunities in the augmented reality market?
Which are the major players in the augmented reality market, and what are their market shares?
How is the competitive landscape?
What are the recent developments in the augmented reality market?
What do major players adopt the different strategies in this market?
What are the geographic trends and high-growth countries?
Which are the local emerging players in the augmented reality market, and how do they compete with the other players?

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