Growth Analysis: Global Augmented Reality Market to Generate $65,323.4 Million and Exhibit a CAGR of 30.9% from 2021 to 2028 [218-Pages] | by Research Dive

Market Dynamics Market Dynamics Healthcare can be made more accessible and affordable to millions of people across the globe with the use of AR technology, which is resulting in the rising adoption of AR in the healthcare sector. Besides, AR saves time during emergency surgeries and is used to give a surgeon a virtual image of the body components of patients allowing them to assess their condition. All these benefits and factors are predicted to upsurge the growth of the global augmented...

Market Dynamics

Healthcare can be made more accessible and affordable to millions of people across the globe with the use of AR technology, which is resulting in the rising adoption of AR in the healthcare sector. Besides, AR saves time during emergency surgeries and is used to give a surgeon a virtual image of the body components of patients allowing them to assess their condition. All these benefits and factors are predicted to upsurge the growth of the global augmented reality market during the forecast period. Moreover, the growing usage of the AR technologies among all the sectors of retail industry including furniture, apparel, consumer electronics, and automotive is likely to create huge growth opportunities for the market by 2028. However, the lack of ability of few AR apps to protect the identity and privacy of users are factors expected to hamper the market growth during the estimated timeframe.

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Impact of COVID-19 Pandemic on the Augmented Reality Market

The COVID-19 pandemic has favorably impacted the global augmented reality market growth. The increase in the augmented reality market size and share is mainly due to the growing implementation of AR in the healthcare sector during the pandemic period, which is resulting in a bump up in the market demand. For instance, in November 2020, the World Health Organization (WHO) Academy released its first AR course for health workers on how to properly utilize COVID-19 personal protection equipment (PPE).

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Key Segment Findings of the Market:

The research report segments the global augmented reality market into component, device type, end-use, and region.

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Top 10 Prominent Market Players in Augmented Reality Market

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These players are focusing on product launches, technological advancements, and strategic collaborations to gain a competitive in the global market.

For instance, in April 2021, PTC, an American computer software and services company, opened a new R&D facility at Technion, the Israel Institute of Technology. The facility has been opened by PTC for research in Industrial IoT, Simulation, Augmented Reality (AR), and Generative Design technologies.

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