Global Augmented Reality Market (2020 to 2026) - by Component, Device, End-user and Region
DUBLIN, Jan. 13, 2021 /PRNewswire/ -- The "Global Augmented Reality Market By Component, By Device, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Augmented Reality Market size is expected to reach $89 billion by 2026, rising at a market growth of 46.3% CAGR during the forecast period. With the help of augmented reality, a virtual image can be superimposed on a real-world view of the user. Digital information is included into the physical environment whose components are increased with inputs like sound, video, or graphics. The factor boosting the growth of the augmented reality market is the rising penetration of advanced technologies across industries like retail, consumer electronics, and automotive. Also, the growth of the market is boosted by the growing adoption of mobile devices around the world, because it seems to be the most suitable form of augmented reality.
The major factor that boosts the augmented reality market growth is the rising adoption of AR-integrated smart glasses. The demand for smart glasses is rising due to their ability to combine the vision of the user with the virtual world seamlessly. Such glasses utilize a blend of sensors, smart software, display, accelerometers, and internet connectivity to add relevant information to the wearer's views. For several domestic and professional uses, AR-integrated smart glasses are rapidly being utilized. Several innovative products are being introduced by the different market vendors such as Microsoft HoloLens and Google Glass Enterprise Edition 2. The growing adoption and constant introduction of such innovative products will boost the development of the augmented reality market during the forecast years.
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