Data Bridge Market Research analyses that the global augmented reality (AR) & mixed reality (MR) market is expected to reach the value of USD 606,787.07 million by 2029, at a CAGR of 50.5% during the forecast period. The hardware segment accounts for the largest component segment in the augmented reality (AR) & mixed reality (MR) market. The augmented reality (AR) & mixed reality (MR) market report also covers pricing analysis, patent analysis, and technological advancements in depth.
Competitive landscape section of Augmented Reality (AR) and Mixed Reality (MR) Market report provides details such as company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve etc.. The universal Augmented Reality (AR) and Mixed Reality (MR) Market report analyses market deeply and provide market size information by country, product, indication, application and end user. Each individual segment’s growth is analysed and these insights are subsequently considered before providing with the market overview which can help in understanding and identification of the core applications in the broad market.
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Augmented reality is a technology which uses the existing user’s environment and overlays the digital or virtual content or information over it to offer an immersive digital experience in a real-time environment. Augmented reality applications are developed on special 3D programs, which enable developers to integrate contextual or digital content with the real world in real-time. Augmented reality offers interactive experiences through multiple sensory modalities, including haptic, auditory, visual, somatosensory, and more. The technology has a wide range of applications in entertainment, training, and educational areas. Industries such as manufacturing, healthcare, and logistics, among others, are more focusing on adopting this technology for training, maintenance, assistance, and monitoring applications.
Mixed reality symbolizes the controlled collision of the AR/VR and IoT trends. Mixed reality (MR), also referred to as hybrid reality, is the technology that is used to merge real and virtual worlds and produce new environments and visualizations where physical and digital objects co-exist and interact in real time. Mixed reality is an interdisciplinary field involving computer graphics, signal processing, computer apparition, user interfaces, mobile computing, wearable computing, information visualization, and the design of displays and sensors. Mixed reality concepts are increasingly being adopted by various industries, including automotive, healthcare, and office environments, among others.
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The Augmented Reality (AR) and Mixed Reality (MR) Market is Dominated by Firms Such as:
HP Development Company, LP, HTC Corporation, Autodesk Inc., Barco, Intel Corporation, PTC, Seiko Epson Corporation, Ultraleap Limited, ASUSTek Computer Inc., Dell, Google (a subsidiary of Alphabet Inc.), Sony Corporation, Lenovo, Microsoft, SAMSUNG ELECTRONICS CO., LTD., Panasonic Corporation, RealWear, Inc., Magic Leap, Inc., EON Reality, and TeamViewer among others
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Key Market Segments Covered in Augmented Reality (AR) and Mixed Reality (MR) Industry Research:
By Component
- Hardware
- Software
- Services
By Deployment Model
- On-Premise
- Cloud
By Distribution Channel
- Offline
- Online
By Device Type
- Desktop
- Head Up Display
- Head Mounted Display
- Projector And Display Wall
- Gesture Tracking Devices
By Technology
- Mobile Augmented Reality
- Monitor-Based Technology
- Near Eye Based Technology
By Application
- Banking, Financial Services and Insurance (BFSI)
- Workflow Optimization
- Marketing Collaboration
- Enhanced 2-D And 3-D
- Visualizations
- 3d Modelling
- Documentation
- Navigation
By End User
- Banking, Financial Services, and Insurance (BFSI)
- Retail And E-Commerce
- IT And Telecommunication
- Automotive
- Aerospace And Defense
- Healthcare
- Animation
- Travel And Tourism
- Energy
- Media And Entertainment
- Education
- Construction
- Games And Sports
- Banking
- Others
Recent Development:
- In April 2021, Microsoft announced a Pentagon contract with the U.S. military for augmented reality headgear for soldiers worth USD 21.88 billion. This HoloLens will deliver soldiers more efficient visibility, next-generation night vision, and situational awareness for any war. This has also helped the company to transcend the traditional boundaries of space and time in the field of AR, thereby expanding their products in the market
- In July 2021, SAMSUNG ELECTRONICS CO., LTD. expanded its contactless offerings for consumers with a new Augmented Reality (AR) enabled service for its flagship products. With this, consumers may virtually experience a product in their homes, check product dimensions, and make an informed selection with the AR service. This has also helped the company to expand its product portfolio in the augmented reality market
Augmented Reality (AR) and Mixed Reality (MR) Market Regional Analysis/Insights:
The regions covered in the global augmented reality (AR) & mixed reality (MR) market report are U.S., Canada and Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Switzerland, Russia, Sweden, Poland, Belgium, Turkey, Rest of Europe, China, Japan, South Korea, Australia, India, Taiwan, Thailand, Singapore, Malaysia, Vietnam, New Zealand, Indonesia, Philippines, Rest of Asia Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Chile, Argentina, Peru and Rest of South America.
North America region is expected to dominate and is the fastest-growing region in the global augmented reality (AR) & mixed reality (MR) market due to advanced software research and development, rich entertainment content production, a favorable startup environment, and others. Moreover, this region has the highest number of popular brand manufacturers and users of AR and MR products. U.S. is expected to dominate the market as the country has highest number of popular brand manufacturers and users of AR and MR products. Whereas, China has huge adoption of technologically advanced smart wearables which fuels the adoption of AR & MR in the country. Moreover, Germany has increased investment in research and development of technology which fuels the market growth in the country.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Augmented Reality (AR) and Mixed Reality (MR) Market Key Benefits over Global Competitors:
- The report provides a qualitative and quantitative analysis of the Augmented Reality (AR) and Mixed Reality (MR) market trends, forecasts, and market size to determine new opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment pockets are highlighted in the research.
- The major countries in each region are analysed and their revenue contribution is mentioned.
- The market player positioning segment provides an understanding of the current position of the market players active in the Augmented Reality (AR) and Mixed Reality (MR) industry.
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