The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

 

The Business Research Company’s Augmented Reality Services Global Market Report 2024 offers crucial insights into the augmented reality services market help businesses analyse and build stronger strategies.

 

 

The augmented reality services market has experienced exponential growth in recent years, with a size reaching $134.26 billion in 2023 and projected to surge to $194.44 billion in 2024 at an impressive Compound Annual Growth Rate (CAGR) of 44.8%. This surge is attributed to factors such as gaming and entertainment adoption, increased consumer awareness, corporate training and simulation, cost reduction, accessibility, and content development.

 

 

Future Projections: A Technological Revolution

Looking ahead, the augmented reality services market is poised for continued exponential growth, reaching $980.26 billion in 2028 at a CAGR of 49.8%. The forecasted growth is fueled by key drivers, including integration with 5G technology, enterprise adoption, expansion into healthcare and therapeutics, smart cities and IoT integration, and a notable rise in education and remote learning.

 

 

Emerging Trends in the Forecast Period

• Retail and E-Commerce Integration: Augmented reality is transforming the online shopping experience, providing a more engaging and realistic purchasing journey.
• Spatial Computing and Interaction: The evolution of spatial computing enhances user interaction and immersion in augmented reality experiences.
• AR in Social Media and Communication: Augmented reality is becoming increasingly integrated into social media and communication platforms.
• Art and Design Applications: AR is finding applications in art and design, bringing about innovative and creative possibilities.
• Immersive Experiences in Tourism: The tourism sector is embracing augmented reality to offer immersive and interactive experiences.

 

 

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E-Commerce Revolution: Augmented Reality Transforms Online Shopping

The rising adoption of e-commerce is a significant driver propelling the growth of the augmented reality services market. Augmented reality technology is reshaping the e-commerce landscape by providing a more realistic and engaging shopping experience. Customers can now sample products and services in their surroundings, leading to higher conversion rates. The Australian Ecommerce Report 2022 highlights the increasing preference for online purchases, particularly in clothing, shoes, and fashion, demonstrating the impact of augmented reality on consumer behavior.

 

 

Industry Leaders Shaping the Market

Major companies contributing to the growth of the augmented reality services market include Apple Inc., Microsoft Corporation, Magic Leap Inc., Qualcomm Technologies Inc., and many others. These companies play a crucial role in developing and implementing cutting-edge augmented reality technologies.

 

 

Strategic Partnerships for Next-Gen Experiences

Major companies operating in the augmented reality services market are actively forming strategic partnerships to enhance their capabilities. Qualcomm Technologies, Inc.’s collaboration with Microsoft Corporation exemplifies this trend. The partnership aims to pioneer the next era of augmented reality experiences by creating proprietary AR processors for power-efficient and lightweight AR glasses. This collaboration reflects a commitment to developing revolutionary experiences for the next generation of head-worn AR devices.

 

 

Market Segmentation

The augmented reality services market is segmented based on:

1. By Type:
   • Hardware
   • Software
2. By Applications:
   • Training
   • Annual reports and augmented brochures
   • Architectural projects/New construction
   • Games
   • Trade show environments
3. By End Use:
   • Commercial
   • Healthcare
   • Automotive
   • Other End-Uses

 

 

Dominance of Asia-Pacific

In 2023, Asia-Pacific emerged as the largest region in the augmented reality services market. The region’s prominence underscores the global impact of augmented reality adoption and innovation.

 

 

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The Augmented Reality Services Global Market Report 2024  provides a comprehensive outlook of the augmented reality services market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The augmented reality services market forecast offers a thorough analysis on augmented reality services market size, augmented reality services market share, prominent players and their strategies.

 

 

 

The Table Of Content For The Augmented Reality Services Market Include:

1. Augmented Reality Services Market Executive Summary
2. Augmented Reality Services Market Segments
3. Augmented Reality Services Market Size And Augmented Reality Services Market Growth Rate
4. Key Augmented Reality Services Market Trends
5. Major Augmented Reality Services Market Drivers
……
25. Key Mergers And Acquisitions In The Augmented Reality Services Market
26. Top Augmented Reality Services Companies
27. Augmented Reality Services Market Opportunities And Strategies
28. Augmented Reality Services Market, Conclusions And Recommendations
29. Appendix

 

 

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Augmented Reality In Training And Education Global Market Report 2024

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