Augmented Reality Market to Witness the Highest Growth in APAC Region by 2026Posted by Vikas Gaadiya on April 19th, 2022 According to a research report \"Augmented Reality Market with COVID-19 Impact Analysis, by Device Type (Head-mounted Display, Head-up Display), Offering (Hardware, Software), Application (Consumer, Commercial, Healthcare), Technology, and Geography - Global Forecast to 2026\" published by MarketsandMarkets, the augmented reality market was valued at USD 14.7 billion in 2020 and is projected to reach USD 88.4 billion by 2021 to 2026, it is predicted to increase at a 31.5 percent compound annual growth rate (CAGR). Surging demand for AR devices and applications in healthcare, growing demand for AR in the retail and e-commerce sectors due to COVID-19, rising investments in the AR market, increasing demand for AR devices and technology in the global automotive industry, and others are among many of the key factors driving the augmented reality market\'s growth. • Informational PDF Brochure :-https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82758548
Browse 169 market data Tables and 61 Figures spread through 216 Pages and in-depth TOC on \"Augmented Reality Market - Global Forecast to 2026\" Hardware segment to account for the largest share of augmented reality market during the forecast period On the basis of offering, the augmented reality market has been segmented into hardware and software. The hardware segment of the augmented reality market is projected to witness a higher growth rate than the software segment owing to the increasing adoption of augmented reality hardware globally. Consumer application to account for the largest share of augmented reality market during the forecast period On the basis of application, the augmented reality market has been segmented into consumer, commercial, aerospace & defense, healthcare, enterprises (manufacturing), automotive, energy, and others. The consumer application segment is projected to account for the largest size of the augmented reality market from 2021 to 2026. The consumer segment of the market comprises gaming and entertainment applications wherein AR technology is used to create 3D visual objects in the real world. The flourishing gaming and sports and entertainment sectors fuel the use of AR technology in consumer applications. The demand for HMD is high in consumer applications. They are used in smart glasses in sports (such as ski driving and fighting games). APAC to account for the largest share of augmented reality market during the forecast period The thriving enterprise (manufacturing) sector in China and Japan is expected to drive the growth of the APAC augmented reality market. This region\'s gaming industry has also grown significantly, contributing to the increased demand for augmented reality technology in APAC. Additionally, rising investments in commercial augmented reality applications are expected to contribute to the market\'s growth in APAC. Furthermore, Japan\'s thriving healthcare and automotive sectors are expected to drive demand for AR technology in the region. The novel coronavirus has had a significant impact on the global economy. APAC economies, which include Japan, China, South Korea, India, and Australia, make significant contributions to the global economy because they are home to many of the world\'s manufacturing and assembly plants. China, known as the world\'s manufacturing powerhouse, faced a severe economic crisis as a result of the virus\'s spread, which halted all economic activity for several weeks. Other countries, including India, Australia, South Korea, and Japan, have seen a decrease in economic activity across a variety of sectors. Some of the key companies operating in the market are Google, Inc. (US), PTC Inc. (US), Seiko Epson (Japan), Microsoft (US), Lenovo (Hong Kong), Samsung Electronics (South Korea), Apple (US), and so on. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the \"Growth Engagement Model – GEM\". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write \"Attack, avoid and defend\" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, \"Knowledgestore\" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Like it? Share it! More by this author |