Augmented Reality Market Size, Growth, Trends & Share | 2022-27

 

Market Overview:

The market for augmented reality, which was estimated to be worth USD 1.98 billion in 2020, is anticipated to grow at a CAGR of 151.93% during the period of forecasting (2021–2026). The use of augmented reality is likely to offer retailers a brand-new way to engage customers and enhance their capabilities. The potential applications of augmented reality are limitless, especially when combined with the rapidly developing wireless technology that makes it possible to integrate mobile devices and home appliances to give users a better connected experience. The augmented reality market is anticipated to grow over the course of the forecast period due to the enormous potential opportunities in biotechnology and healthcare.

While it will still be more than ten years before AR realizes its full market potential, the market analyzed over the previous two years has advanced due to technological developments in the space industry. The expansion of this market is fueled by the expansion of content availability and the introduction of developer tools like ARKit. The market for augmented reality has also been significantly influenced by the growing adoption and accessibility of the cloud. It offers the infrastructure and platform to address the scalability issue with on-premise AR experiences. ​

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