Editoria e Media
Spurred by Significant Interest and Activity, Total Augmented Reality Market Will Reach US$220 billion by 2027
Media and entertainment and sports and fitness lead in adoption and growth over the next five years, with 118% and 101% installed base CAGRs, respectively. Tourism, healthcare, retail, and education are also growing significantly, thanks to cross-market opportunities and an increasing addressable user base of consumers. Binocular, mixed reality devices dominate the forecast in terms of growth, powered by declining prices, increasing capability, and a greater selection of mixed reality content in all verticals—what devices exactly end up pushing the market is unclear, with lessening incumbent advantages meeting increasing competition. Even with binocular focus, monocular devices are not to be discounted. They are still seeing steady growth and usage mostly in enterprise domains where environmental awareness precedes immersive content—RealWear, Vuzix, and similar devices will continue to see success here.
"Much of the interest, and thus growth, will be seen in the consumer space. However, overlap with cross-market content and services and shared interest for consumer-targeted smart glasses devices in enterprise applications will drive the market from all directions. Metaverse does play a role over the next five years, especially as a catalyst for interest and investment, but day to day usage will still be found in more traditional ecosystems powering augmented reality," concludes Abbruzzese.
These findings are from ABI Research's Augmented and Mixed Reality Market Data: Devices, Use Cases, Verticals, and Value Chain market data report. This report is part of the company's Augmented and Virtual Reality research service, which includes research, data, and ABI Insights. Market Data spreadsheets are composed of deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight where opportunities lie.
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