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Global Augmented Reality Market to Reach USD 994.58 Billion by 2032, Aided by the Rising Adoption of the Technology

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Augmented Reality Market

Global Augmented Reality Market Size, Share, Analysis: By Component: Software, Hardware; By Type: Marker-Based, Marker-Less, Location-Based AR; By Device: Head-Mounted Display, Head-Up Display, Smart Glass; By Technology: Monitor Based, Mobile Based, Near Eye; By Application; Regional Analysis; Competitive Landscape; 2024-2032

Global Augmented Reality Market Size

The global augmented reality market size reached a value of about USD 42.89 billion in 2023. The market is further expected to grow at a CAGR of 41.8% in the forecast period of 2024-2032 to reach a value of nearly USD 994.58 billion by 2032.

 

Augmented Reality Market

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Global Augmented Reality Market Growth

During the forecast period, the Asia Pacific is expected to provide market vendors the maximum growth opportunities. The growth of the industry in the region is projected to be driven by rising innovation, technological advancements, and the growing involvement of prominent suppliers.

 

Augmented Reality Market by Application

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Global Augmented Reality Market Segmentation

Augmented reality refers to the technology that overlays a computer-generated image with a real-world view from the consumer and, thus, offers a composite view.

Based on components, the industry can be bifurcated into software and hardware. Hardware can be further divided on the basis of types as follows:

  • Sensors 
  • Semiconductors 
  • Displays and Projectors
  • Position Trackers
  • Cameras
  • Others

Based on type, the industry can be divided into:

  • Marker-Based
  • Marker-Less
  • Location-Based AR

Based on the device, the industry can be segmented into:

  • Head-Mounted Display
  • Head-Up Display
  • Smart Glass

The technology types in the industry can be divided into:

  • Monitor Based
  • Mobile Based
  • Near Eye

Augmented reality finds wide applications in the following sectors:

  • Automotive
  • Healthcare
  • Military and Defence
  • Education
  • Retail
  • Engineering
  • Real Estate
  • Entertainment
  • Others

The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Augmented Reality Market by Region

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Expanding Use of AR-Enabled Smart Glasses to Propel the Augmented Reality Market Forward

The growing use of AR-enabled smart glasses is projected to drive the growth of the global augmented reality market. Owing to its capability of seamlessly combining vision with the virtual world, the popularity of smart glasses is increasing. Such lenses use a combination of screens, sensors, accelerometers, smart software, and internet access to provide the user views with contextual information. AR-enabled smart glasses are being increasingly used across different home and work applications, thus, influencing the augmented reality industry growth positively.

In the coming years, the rising acceptance of the technology and the integration of such technology in automobiles are expected to propel the industry growth. The growing investments by major tech companies into expanding their augmented reality portfolio are also estimated to support the industry growth. The growing adoption of the technology by the retail sector is further expected to aid the industry growth, especially in the post-COVID world, where social distancing rules are expected to remain active even as lockdowns ease.

 

Key Industry Players in the Global Augmented Reality Market

The report gives a detailed analysis of the following key players in the global augmented reality market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Google LLC
  • Microsoft Corporation
  • PTC Inc.
  • Epson America, Inc.
  • Apple Inc.
  • Lenovo Group Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Type
  • Device
  • Technology
  • Application
  • Region
Breakup by Component
  • Software
  • Hardware
Breakup by Type
  • Marker-Based
  • Marker-Less
  • Location-Based AR
Breakup by Device
  • Head-Mounted Display
  • Head-Up Display
  • Smart Glass
Breakup by Technology
  • Monitor Based
  • Mobile Based
  • Near Eye
Breakup by Application
  • Automotive
  • Healthcare
  • Military and Defence
  • Education
  • Retail
  • Engineering
  • Real Estate
  • Entertainment
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Google LLC
  • Microsoft Corporation
  • PTC Inc.
  • Epson America, Inc.
  • Apple Inc.
  • Lenovo Group Limited
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Augmented Reality Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Augmented Reality Historical Market (2018-2023) 
    8.3    Global Augmented Reality Market Forecast (2024-2032)
    8.4    Global Augmented Reality Market by Component
        8.4.1    Software
                8.4.1.1    Historical Trend (2018-2023)
                8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Hardware 
                8.4.2.1    Historical Trend (2018-2023)
                8.4.2.2    Forecast Trend (2024-2032)
                8.4.2.3    Breakup by Type
                    8.4.2.3.1    Sensors    
                        8.4.2.3.1.1    Historical Trend (2018-2023)
                        8.4.2.3.1.2    Forecast Trend (2024-2032)
                    8.4.2.3.2    Semiconductors    
                        8.4.2.3.2.1    Historical Trend (2018-2023)
                        8.4.2.3.2.2    Forecast Trend (2024-2032)
                    8.4.2.3.3    Displays and Projectors    
                        8.4.2.3.3.1    Historical Trend (2018-2023)
                        8.4.2.3.3.2    Forecast Trend (2024-2032)
                    8.4.2.3.4    Position Trackers
                        8.4.2.3.4.1    Historical Trend (2018-2023)
                        8.4.2.3.4.2    Forecast Trend (2024-2032)
                    8.4.2.3.5    Cameras
                        8.4.2.3.5.1    Historical Trend (2018-2023)
                        8.4.2.3.5.2    Forecast Trend (2024-2032)
                    8.4.2.3.6    Others
    8.5    Global Augmented Reality Market by Type
        8.5.1    Marker-Based
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Marker-Less
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Location-Based AR
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Augmented Reality Market by Device
        8.6.1    Head-Mounted Display
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Head-Up Display
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Smart Glass
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
    8.7    Global Augmented Reality Market by Technology
        8.7.1    Monitor Based
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Mobile Based
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Near Eye
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
    8.8    Global Augmented Reality Market by Application
        8.8.1    Automotive
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Healthcare
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Military and Defence
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Education
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Retail
            8.8.5.1    Historical Trend (2018-2023)
            8.8.5.2    Forecast Trend (2024-2032)
        8.8.6    Engineering
            8.8.6.1    Historical Trend (2018-2023)
            8.8.6.2    Forecast Trend (2024-2032)
        8.8.7    Real Estate
            8.8.7.1    Historical Trend (2018-2023)
            8.8.7.2    Forecast Trend (2024-2032)
        8.8.8    Entertainment
            8.8.8.1    Historical Trend (2018-2023)
            8.8.8.2    Forecast Trend (2024-2032)
        8.8.9    Others 
    8.9    Global Augmented Reality Market by Region
        8.9.1    North America
            8.9.1.1    Historical Trend (2018-2023)
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Europe
            8.9.2.1    Historical Trend (2018-2023)
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Asia Pacific
            8.9.3.1    Historical Trend (2018-2023)
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    Latin America
            8.9.4.1    Historical Trend (2018-2023)
            8.9.4.2    Forecast Trend (2024-2032)
        8.9.5    Middle East and Africa
            8.9.5.1    Historical Trend (2018-2023)
            8.9.5.2    Forecast Trend (2024-2032)
9    North America Augmented Reality Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Augmented Reality Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Augmented Reality Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Augmented Reality Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Augmented Reality Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Google LLC
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Microsoft Corporation
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    PTC Inc.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Epson America, Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Apple Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Lenovo Group Limited
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Augmented Reality Market: Key Industry Highlights, 2018 and 2032
2.    Global Augmented Reality Historical Market: Breakup by Component (USD Billion), 2018-2023
3.    Global Augmented Reality Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.    Global Augmented Reality Historical Market: Breakup by Type (USD Billion), 2018-2023
5.    Global Augmented Reality Market Forecast: Breakup by Type (USD Billion), 2024-2032
6.    Global Augmented Reality Historical Market: Breakup by Device (USD Billion), 2018-2023
7.    Global Augmented Reality Market Forecast: Breakup by Device (USD Billion), 2024-2032
8.    Global Augmented Reality Historical Market: Breakup by Technology (USD Billion), 2018-2023
9.    Global Augmented Reality Market Forecast: Breakup by Technology (USD Billion), 2024-2032
10.    Global Augmented Reality Historical Market: Breakup by Application (USD Billion), 2018-2023
11.    Global Augmented Reality Market Forecast: Breakup by Application (USD Billion), 2024-2032
12.    Global Augmented Reality Historical Market: Breakup by Region (USD Billion), 2018-2023
13.    Global Augmented Reality Market Forecast: Breakup by Region (USD Billion), 2024-2032
14.    North America Augmented Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    North America Augmented Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Europe Augmented Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Europe Augmented Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Asia Pacific Augmented Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Asia Pacific Augmented Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Latin America Augmented Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Latin America Augmented Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Middle East and Africa Augmented Reality Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Middle East and Africa Augmented Reality Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Global Augmented Reality Market Structure

Key Questions Answered in the Report

What was the global augmented reality market size in 2023?

The global augmented reality market reached a value of USD 42.89 billion in 2023.

What is the growth rate of the global augmented reality market?

The market is projected to grow at a CAGR of 41.8% in the forecast period of 2024-2032.

What is the forecast outlook of the global augmented reality market for 2024-2032?

The market is estimated to reach a value of about USD 994.58 billion by 2032.     

What are the major market drivers?

The major drivers of the market include rising disposable incomes, increasing population, the rising use of AR-enabled smart glasses, growing R&D investments by key players, and growing demand for augmented reality in the retail sector.

What are the key trends of the global augmented reality market?

The rising acceptance of augmented reality and rapid technological advancements are expected to be the key trends guiding the growth of the market.

What are the major regional markets of augmented reality, according to the EMR report?

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.

What are the significant components of augmented reality considered in the market report?

Software and hardware are the significant components of augmented reality considered in the market report.

What are the major types of augmented reality in the market?

The major types of the technology in the market are marker-based, marker-less, and location-based AR.

What are the various devices of augmented reality considered in the market report?

Head-mounted display, head-up display, and smart glass are the various devices considered in the market report.

What are the different technologies of augmented reality considered in the market report?

The different technologies of augmented reality considered in the market report include monitor based, mobile based, and near eye.

What are the major applications of augmented reality?

The major applications of augmented reality include automotive, healthcare, military and defence, education, retail, engineering, real estate, and entertainment, among others.

Who are the key market players, according to the report?

The key market players include Google LLC, Microsoft Corporation, PTC Inc., Epson America, Inc., Apple Inc., and Lenovo Group Limited, among others.

Analyst Review

The global augmented reality market attained a value of USD 42.89 billion in 2023, driven by the growth in the use of AR-enabled smart glasses. Aided by the rising investments into the industry, the global augmented reality market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 41.8%. The industry is projected to reach USD 994.58 billion by 2032.  

EMR's meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on components, the global augmented reality market can be segmented into software and hardware. Hardware can be further divided into sensors, semiconductors, displays and projectors, position trackers, and cameras, among others. By types, the industry can be divided into marker-based, marker-less, and location-based AR. By devices, the market can be segmented into head-mounted display, head-up display, and smart glass. Based on technology, the industry can be divided into monitor based, mobile based, and near eye. On the basis of application, the industry can be segmented into automotive, healthcare, military and defence, education, retail, engineering, real estate, and entertainment, among others. The major regional markets for augmented reality are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Google LLC, Microsoft Corporation, PTC Inc., Epson America, Inc., Apple Inc., and Lenovo Group Limited, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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