Augmented Reality Market Size to Reach USD 332.60 Billion in 2028 | Increasing Demand from Education Sector and Expanding Gamer Base Seeking More Immersive Gaming Experiences is Driving Industry Demand, Says Emergen Research
VANCOUVER, BC, April 21, 2022 /PRNewswire/ -- The global Augmented Reality market size was USD 15.72 and total addressable market value is expected to reach USD 332.60 Billion in 2028 registering a CAGR of 46.4% over the forecast period, according to latest study by Emergen Research.
Augmented reality is an enhanced version of the real-world, which is achieved with the help of digital visual elements, sounds, or other sensory stimuli that can be delivered using technologies. Augmented reality increases the understanding of certain features of the physical world and derives smart and accessible insights that can be applied to real-world applications. Augmented reality is a growing trend among companies involved in business and mobile computing applications. Expanding features and uses of smartphones and integration of apps with AR are key factors projected to drive market revenue growth.
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Various industries are unveiling new generation of AR solutions and applications as devices are becoming increasingly advanced and powerful, and networks are continuing to expand in terms of capacity. 5G connectivity and edge computing have made the technology more feasible, and opened up access to a number of new potential users.
Augmented reality is providing remote assistance in various industries. Schools are adopting remote e-learning to keep students connected, motivated and engaged. It provides new ways to learn, and students in Japan are already using augmented card games to learn to code.
Augmented reality is redefining the gaming industry. It creates immersive experiences which allow users to feel that they are interacting personally with their digital environment. Augmented reality games can be played on tablets, smartphones, and portable gaming systems.
Some major companies in the global market include Microsoft Corporation, Google Inc., Apple Inc., Zappar Ltd., Sony Corporation, Infinity Augmented Reality Ltd., Wikitude GmbH, Magic Leap, Inc., Seiko Epson, and Samsung Electronics Co. Ltd.
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