About Augmented Reality and Mixed Reality-
Augmented reality (AR) and mixed reality (MR) are immersive technologies that blend digital content with the real world, enhancing users perceptions and interactions with their surroundings. AR overlays digital information, such as images, videos, or 3D models, onto the real world in real-time through devices like smartphones, tablets, or smart glasses, and mixed reality combines virtual elements with the physical environment, allowing users to interact with both simultaneously. The growing availability of high-speed internet connectivity and the proliferation of smartphones and wearable devices have expanded the potential user base for AR and MR applications.AR and MR have the potential to transform industries such as healthcare, architecture, and manufacturing by enabling visualization, simulation, and prototyping of complex systems and environments
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 3.7% |
Augmented reality (AR) and mixed reality (MR) technologies offer unique opportunities to create immersive and interactive experiences that captivate users and differentiate brands in competitive markets. With consumers increasingly seeking engaging and personalized interactions, businesses recognize the potential of AR and MR to enhance customer engagement, drive sales, and build brand loyalty. Additionally, the proliferation of smartphones, wearable devices, and high-speed internet connectivity has expanded the user base for AR and MR applications, creating a growing market opportunity. Furthermore, advancements in hardware, software, and content creation tools have lowered barriers to entry, enabling businesses of all sizes to develop and deploy AR and MR solutions more easily. Moreover, AR and MR technologies find applications across various industries, including retail, entertainment, healthcare, education, manufacturing, and more, offering diverse revenue streams and market opportunities. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Augmented Reality and Mixed Reality- market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Google (United States), Microsoft (United States), Sony Corporation (Japan), Meta (United States), SAMSUNG (South Korea), Apple Inc. (United States), PTC (United States), Seiko Epson Corp. (Japan), EON Reality (United States) and CyberGlove Systems Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Penumbra, Inc. (United States), Nintendo (Japan), Lenovo (China), Xiaomi (China) and Continental AG (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Augmented Reality and Mixed Reality- market by , Application (Gaming & Entertainment, Commercial, Enterprise, Healthcare, Aerospace & Defense, Energy, Automotive and Others) and Region.
On the basis of geography, the market of Augmented Reality and Mixed Reality- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Augmented Reality Technology will boost the Augmented Reality and Mixed Reality- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device, the sub-segment i.e. Head-Up Display will boost the Augmented Reality and Mixed Reality- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise, the sub-segment i.e. Small Enterprises will boost the Augmented Reality and Mixed Reality- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Usage of AR and MR technologies to craft immersive and interactive gaming experience
Market Growth Drivers:
The widespread availability of smartphones and tablets devices and Companies are increasingly striving to offer interactive experiences
Challenges:
Developing high-quality AR and MR content requires specialized skills and tools
Restraints:
Integrating AR and MR technologies can be costly and time-consuming for businesses and developers
Opportunities:
The shift towards remote work and collaboration highlighted the need for effective virtual communication.
Market Leaders and their expansionary development strategies
In February 2022, Harman International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd., announced its acquisition of Apostera, a Germany-based automotive technology company. With Apostera's augmented reality (AR) and mixed reality (MR) software solutions, Harman enhances its automotive product portfolio and establishes the company as a leader in automotive AR and MR experience design.
In January 2024, Qualcomm Inc. announced a new chip designed for virtual reality (VR) and augmented reality (AR), with Google LLC and Samsung Electronics Co. integrating it into their immersive experience technology and plan to enter the augmented reality and virtual reality market. and In February 2023, Xiaomi, the renowned electronics and smart manufacturing company, unveiled its Wireless AR Glass Discovery Edition at Mobile World Congress 2023 (MWC 2023). This ground breaking technological innovation marks Xiaomi's debut in wireless AR glasses, featuring distributed computing capabilities. The device boasts a retina-level adaptive display that seamlessly adjusts to varying lighting environments
Key Target Audience
Manufacturers, Suppliers and Sellers, Software Companies, Service Providers, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.