Augmented Reality Market Analysis Highlights the Impact of COVID-19 (2020–2024) | Adoption of AR-Enabled Smart Glasses to Boost the Market Growth | Technavio
Technavio has been monitoring the augmented reality market and it is poised to grow by USD 76.99 billion during 2020–2024. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions-
- Based on segmentation by application, which is the leading segment in the market?
- The enterprise segment is expected to be the leading segment based on application in the global market during the forecast period.
- What is a major trend in the market?
- Increasing AR integration in mobile devices is a major growth factor for the market.
- What is the year-over-year growth rate for 2020?
- The year-over-year growth for 2020 is estimated at 38.67% and the incremental growth of the market is anticipated to be USD 76.99 billion during the forecast period.
- Who are the top players in the market?
- Alphabet Inc., Dynabook Inc., Facebook Inc., Microsoft Corp., PTC Inc., Qualcomm Inc., Samsung Electronics Co. Ltd., Upskill, Vuzix Corp., and Zugara Inc. are some of the major market participants.
- What is the key market driver?
- The adoption of AR-enabled smart glasses is the major factor driving the market.
- How big is the APAC market?
- The APAC region will contribute 32% of the market share.
The market is concentrated, and the degree of concentration will decelerate during the forecast period. Alphabet Inc., Dynabook Inc., Facebook Inc., Microsoft Corp., PTC Inc., Qualcomm Inc., Samsung Electronics Co. Ltd., Upskill, Vuzix Corp., and Zugara Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The adoption of AR-enabled smart glasses has been instrumental in driving the growth of the market.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Augmented Reality (AR) Market 2020–2024: Segmentation
Augmented Reality (AR) Market is segmented as below:
- Application
- Geography
- Enterprise
- Retail
- Healthcare
- Media and Entertainment
- Education
- Other Applications
- APAC
- Europe
- MEA
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40843
Augmented Reality (AR) Market 2020–2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The augmented reality market report covers the following areas:
- Augmented Reality (AR) Market Size
- Augmented Reality (AR) Market Trends
- Augmented Reality (AR) Market Analysis
This study identifies the increase in AR integration in mobile devices as one of the prime reasons driving the augmented reality (AR) market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
