Augmented reality (AR) market size is set to grow by USD 157.21 billion from 2022 to 2027; The increasing investments in AR technology will boost the market- Technavio

NEW YORK, June 12, 2023 /PRNewswire/ -- The global augmented reality (AR) market size is estimated to grow by USD 157.21 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 28.71% during the forecast period. North America is estimated to account for 37% of the global market growth. For more insights on the historic period for five years (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Global Augmented Reality (AR) Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on application (enterprise, retail, media and entertainment, healthcare, and others), component (hardware and software), and geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The enterprise segment will account for a major share of the market's growth during the forecast period. Enterprises use AR applications for remote assistance to save time and travel costs. For instance, Progress-Werk Oberkirch AG, a metal processing automotive supplier, uses Ubimax Frontline AR software to communicate with experts to receive real-time on-site assistance with the help of smart glasses. NASA, on the other hand, has introduced AR apps for Microsoft HoloLens AR headset to provide live training and instructions. Moreover, mobile AR apps help organizations bring about significant changes in operational processes. Such factors will increase segment growth during the forecast period.

Geography Overview
By geography, the global augmented reality (AR) market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global augmented reality (AR) market.

• North America is projected to contribute 37% of market growth by 2027. In North America, the US has played a significant role in the development of technologies that people use in their daily lives. The technology capabilities in Canada have been recognized significantly. Developers, manufacturers, and consumers are keen on developing and using smart technologies such as the Internet of Things (IoT) and various advanced technologies, such as AR, MR, and VR. AR is among the leading and fastest-growing technology. Several vendors, such as Alphabet, Facebook, and Microsoft, have established a strong presence in the US and are heavily investing in AR technology. With such investments and advances in technology, the AR market in the region will witness significant growth during the forecast period.

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Global Augmented Reality (AR) Market – Market Dynamics
Key factor driving market growth

The increasing investments in AR technology are the key factor driving the global AR market growth. AR is an emerging technology, and several major players and startups are investing heavily in AR 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 the information in real-time. So these investments will drive the growth of the market during the forecast period.

Leading trends influencing the market 

The increasing integration of AR in mobile devices will fuel the global AR market growth. Several manufacturers of mobile devices, such as smartphones, phablets, and tablets, are using AR solutions to enhance the 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. Moreover, 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 basic computer vision and positional tracking. Such factors will further propel the growth of the AR market during the forecast period.

Major challenges hindering the market growth

Privacy concerns over AR technology are a major challenge to the global AR market growth. AR collects and processes vast amounts of information about users and their environment. Privacy concerns, therefore, are a major challenge in the global AR market. AR technology can access the personal data of users and may pose a threat to their privacy. It can collect a lot of information from the user's social networking accounts. User privacy can also be threatened if hackers gain access to the user's device. Moreover, 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 AR market during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Augmented Reality (AR) Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Augmented Reality (AR) Market between 2023 and 2027
• Precise estimation of the size of the Augmented Reality (AR) Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Augmented Reality (AR) Market across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Augmented Reality (AR) Market vendors

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Related Reports:

• The augmented reality and virtual reality market is estimated to grow at a CAGR of 52.37% between 2022 and 2027. The size of the market is forecast to increase by USD 3,64,557.67 million. This report extensively covers market segmentation by application (consumer and enterprise), technology (AR and VR), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The increasing demand for AR and VR technology is notably driving the augmented reality and virtual reality market growth. 
• The augmented and virtual reality in healthcare market share is expected to increase by USD 6.55 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 29.13%. Furthermore, this report extensively covers augmented and virtual reality in healthcare market segmentation by component (hardware and software) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The growing demand for healthcare services is one of the key drivers supporting augmented and virtual reality in the healthcare market growth.

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global augmented reality market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global augmented reality market 2017 - 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.3 Component Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Component Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Enterprise - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Enterprise - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Enterprise - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Enterprise - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Enterprise - Year-over-year growth 2022-2027 (%)

• 6.4 Retail - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Retail - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Retail - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Retail - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Retail - Year-over-year growth 2022-2027 (%)

• 6.5 Media and entertainment - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Media and entertainment - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Media and entertainment - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Media and entertainment - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Media and entertainment - Year-over-year growth 2022-2027 (%)

• 6.6 Healthcare - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Healthcare - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Healthcare - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027 
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Application 
• Exhibit 54: Market opportunity by Application ($ billion)

7 Market Segmentation by Component

• 7.1 Market segments
• Exhibit 55: Chart on Component - Market share 2022-2027 (%)
• Exhibit 56: Data Table on Component - Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 57: Chart on Comparison by Component
• Exhibit 58: Data Table on Comparison by Component

• 7.3 Hardware - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Hardware - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Hardware - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Hardware - Year-over-year growth 2022-2027 (%)

• 7.4 Software - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Software - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Software - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Component 
• Exhibit 67: Market opportunity by Component ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 109: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Alphabet Inc.
• Exhibit 120: Alphabet Inc. - Overview
• Exhibit 121: Alphabet Inc. - Business segments
• Exhibit 122: Alphabet Inc. - Key news
• Exhibit 123: Alphabet Inc. - Key offerings
• Exhibit 124: Alphabet Inc. - Segment focus

• 12.4 Atheer Inc
• Exhibit 125: Atheer Inc - Overview
• Exhibit 126: Atheer Inc - Product / Service
• Exhibit 127: Atheer Inc - Key offerings

• 12.5 Dynabook Inc.
• Exhibit 128: Dynabook Inc. - Overview
• Exhibit 129: Dynabook Inc. - Product / Service
• Exhibit 130: Dynabook Inc. - Key offerings

• 12.6 Facebook Inc.
• Exhibit 131: Facebook Inc. - Overview
• Exhibit 132: Facebook Inc. - Product / Service
• Exhibit 133: Facebook Inc. - Key offerings

• 12.7 Inglobe Technologies Srl 
• Exhibit 134: Inglobe Technologies Srl - Overview
• Exhibit 135: Inglobe Technologies Srl - Product / Service
• Exhibit 136: Inglobe Technologies Srl - Key offerings

• 12.8 Marxent Labs LLC
• Exhibit 137: Marxent Labs LLC - Overview
• Exhibit 138: Marxent Labs LLC - Product / Service
• Exhibit 139: Marxent Labs LLC - Key offerings

• 12.9 Maxst Co. Ltd.
• Exhibit 140: Maxst Co. Ltd. - Overview
• Exhibit 141: Maxst Co. Ltd. - Product / Service
• Exhibit 142: Maxst Co. Ltd. - Key offerings

• 12.10 Microsoft Corp.
• Exhibit 143: Microsoft Corp. - Overview
• Exhibit 144: Microsoft Corp. - Business segments
• Exhibit 145: Microsoft Corp. - Key news
• Exhibit 146: Microsoft Corp. - Key offerings
• Exhibit 147: Microsoft Corp. - Segment focus

• 12.11 Optinvent
• Exhibit 148: Optinvent - Overview
• Exhibit 149: Optinvent - Product / Service
• Exhibit 150: Optinvent - Key offerings

• 12.12 PTC Inc.
• Exhibit 151: PTC Inc. - Overview
• Exhibit 152: PTC Inc. - Business segments
• Exhibit 153: PTC Inc. - Key offerings
• Exhibit 154: PTC Inc. - Segment focus

• 12.13 Qualcomm Inc.
• Exhibit 155: Qualcomm Inc. - Overview
• Exhibit 156: Qualcomm Inc. - Business segments
• Exhibit 157: Qualcomm Inc. - Key news
• Exhibit 158: Qualcomm Inc. - Key offerings
• Exhibit 159: Qualcomm Inc. - Segment focus

• 12.14 RealWear Inc.
• Exhibit 160: RealWear Inc. - Overview
• Exhibit 161: RealWear Inc. - Product / Service
• Exhibit 162: RealWear Inc. - Key offerings

• 12.15 Samsung Electronics Co. Ltd. 
• Exhibit 163: Samsung Electronics Co. Ltd. - Overview
• Exhibit 164: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 165: Samsung Electronics Co. Ltd. - Key news
• Exhibit 166: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 167: Samsung Electronics Co. Ltd. - Segment focus

• 12.16 Seiko Epson Corp.
• Exhibit 168: Seiko Epson Corp. - Overview
• Exhibit 169: Seiko Epson Corp. - Business segments
• Exhibit 170: Seiko Epson Corp. - Key news
• Exhibit 171: Seiko Epson Corp. - Key offerings
• Exhibit 172: Seiko Epson Corp. - Segment focus

• 12.17 Sony Group Corp.
• Exhibit 173: Sony Group Corp. - Overview
• Exhibit 174: Sony Group Corp. - Business segments
• Exhibit 175: Sony Group Corp. - Key news
• Exhibit 176: Sony Group Corp. - Key offerings
• Exhibit 177: Sony Group Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 178: Inclusions checklist
• Exhibit 179: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 180: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 181: Research methodology
• Exhibit 182: Validation techniques employed for market sizing
• Exhibit 183: Information sources

• 13.5 List of abbreviations 
• Exhibit 184: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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