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The augmented reality devices market size has experienced exponential growth in recent years, surging from $14.21 billion in 2023 to $20.13 billion in 2024 at a CAGR of 41.6%. This growth in the historic period is attributed to the heightened demand for consumer electronics, the increasing number of internet users, rising awareness about e-commerce, and the ongoing digital transformation. Negative factors impacting growth in the historic period include long-term impacts of AR on mental health and disruptions in the supply chain. Moving forward to 2028, the market is poised for continued exponential growth, reaching $59.06 billion at a CAGR of 30.9%. Anticipated contributing factors include the increasing adoption of AR technology in the healthcare industry, the integration of AR in social media apps, global population growth and urbanization, and the widespread penetration of mobile devices. Key trends in the forecast period involve innovative product launches with a focus on artificial intelligence (AI), strategic partnerships and collaborations among market players, the development of head-mounted display (HMD) testing technology, and the launch of WebAR for accessing AR experiences through a web browser.

The augmented reality device market is expected to witness growth driven by the increasing prevalence of remote work arrangements. Remote work, or telecommuting, has become a prominent trend, with employees working outside physical office spaces. Augmented reality (AR) devices play a crucial role in remote work scenarios, particularly in industries requiring collaboration between on-site and remote teams and physical operations. According to Forbes Media LLC, as of 2023, 12.7% of full-time employees in the United States work remotely, and 28.2% follow a hybrid model. By 2025, an estimated 32.6 million Americans are projected to work remotely, constituting around 22% of the workforce. This shift towards remote work is a key factor contributing to the growth of the augmented reality devices market.

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What Are The Key Trends That Influence Augmented Reality Devices Market Share Analysis?

In the augmented reality devices market, companies are developing products such as Wireless AR Glasses to enhance customer engagement and brand promotion. For example, in February 2023, Xiaomi Inc., a China-based electronics manufacturer, introduced the Xiaomi Wireless AR Glass Discovery Edition. These lightweight AR glasses feature a ‘retina-level’ display and are completely wireless, utilizing a proprietary low-latency communication link to achieve a latency of just 50 milliseconds, which is imperceptible to the human eye.

Which Market Players Are Driving Growth In The Augmented Reality Devices Market?

Major companies operating in the augmented reality devices market report are Meta Platforms Inc, Seiko Epson Corporation, Microsoft Corporation, Goertek Inc, Lenovo Group, Samsung Electronics Co. Ltd., Magic Leap, Inc., PTC Inc., Sharp Corporation, TeamViewer (Upskill), Simbott, Imaginate, Parallax Labs, TATA ELXSI, PlayShifu, Quy Technology Pvt Ltd, Trezi, Simulanis, Jadooz, GreyKernel, Chimpare, Lucid Reality Labs, Takeaway Reality, Full Clarity, Vention, Waracle, Foresight Mobile, Innowise Group, Holoroad, Sensevr, Seemore, ClickFit, VMS Media, Elar World, Epson America, Inc., Vuzix Corporation, nReal, Oculus, Google, UP360, Lets Nurture, Bit Space Development Ltd., Droidix, Realidade Aumentada Brasil, Loox Studios, Next Latinoamérica S.A.C., Black Ink Agency, 4experience, Techgropse UAE, Banuba AR, Designhubz, MonocleReality, Afriten Technologies, RamStudios, Veza Interactive, TeamEpic

How Is The Global Augmented Reality Devices Market Segmented?

The augmented reality devices market covered in this report is segmented –

1) By Type: Head-Mounted Display (HMD), Head-Up Display (HUD), Other Types
2) By Application: Consumer, Commercial, Enterprise, Healthcare, Aerospace And Defense, Energy, Automotive, Other Applications
3) By Component: Hardware, Software

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The Augmented Reality Devices Global Market Report 2024 provides an overview of the augmented reality devicesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The augmented reality devices market forecast analyzes augmented reality devices market size, augmented reality devices market share, leading competitor and their market positions.

The Table Of Content For The Augmented Reality Devices Market Include

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

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