Augmented Reality (AR) and Mixed Reality (MR) Market Demand, Insights and Forecast Up to 2029

Data Bridge Market Research analyses that the Global Augmented Reality (AR) & Mixed Reality (MR) Market is expected to reach the value of USD 606,787.07 million by 2029, at a CAGR of 50.5% during the forecast period.

Industry Analysis

Augmented reality and mixed reality have brought a new change to digitalization. It has now become easier to experience the real world by setting different environmental conditions. Augmented reality & mixed reality has a wide range of applications, the growth of the market increased highly as the use of augmented reality and mixed reality became popular in driving simulators. The augmented reality and mixed reality provide the driver with a real sense of the road, driving conditions, car manuals, and road traffic that helps avoid accidents at an initial stage of learning and prepares the drivers for various situations. These attributes have led to an increased usage of augmented reality and mixed reality in defense and aerospace also. The army personnel used it for training in various conditions such as parachute jumping, submarine, combat situations, and driving in various environmental conditions.

The hardware segment accounts for the largest component segment in the augmented reality (AR) & mixed reality (MR) market. The augmented reality (AR) & mixed reality (MR) market report also covers pricing analysis, patent analysis, and technological advancements in depth.

Augmented reality is a technology which uses the existing user's environment and overlays the digital or virtual content or information over it to offer an immersive digital experience in a real-time environment. Augmented reality applications are developed on special 3D programs, which enable developers to integrate contextual or digital content with the real world in real-time. Augmented reality offers interactive experiences through multiple sensory modalities, including haptic, auditory, visual, somatosensory, and more. The technology has a wide range of applications in entertainment, training, and educational areas. Industries such as manufacturing, healthcare, and logistics, among others, are more focusing on adopting this technology for training, maintenance, assistance, and monitoring applications.

Mixed reality symbolizes the controlled collision of the AR/VR and IoT trends. Mixed reality (MR), also referred to as hybrid reality, is the technology that is used to merge real and virtual worlds and produce new environments and visualizations where physical and digital objects co-exist and interact in real time. Mixed reality is an interdisciplinary field involving computer graphics, signal processing, computer apparition, user interfaces, mobile computing, wearable computing, information visualization, and the design of displays and sensors. Mixed reality concepts are increasingly being adopted by various industries, including automotive, healthcare, and office environments, among others.

Global Augmented Reality (AR) & Mixed Reality (MR) Market Scope

The augmented reality (AR) & mixed reality (MR) market is segmented on the basis of component, deployment model, distribution channel, device type, technology, application, and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

By Component

· Hardware

· Software

· Services

By Deployment Model

· On-Premise

· Cloud

By Distribution Channel

· Offline

· Online

By Device Type

· Desktop

· Head Up Display

· Head Mounted Display

· Projector And Display Wall

· Gesture Tracking Devices

By Technology

· Mobile Augmented Reality

· Monitor-Based Technology

· Near Eye Based Technology

By Application

· Banking, Financial Services and Insurance (BFSI)

· Workflow Optimization

· Marketing Collaboration

· Enhanced 2-D And 3-D

· Visualizations

· 3d Modelling

· Documentation

· Navigation

By End User

· Banking, Financial Services, and Insurance (BFSI)

· Retail And E-Commerce

· IT And Telecommunication

· Automotive

· Aerospace And Defence

· Healthcare

· Animation

· Travel And Tourism

· Energy

· Media And Entertainment

· Education

· Construction

· Games And Sports

· Banking

· Others

Global Augmented Reality (AR) & Mixed Reality (MR) Market Regional Analysis/Insights

The augmented reality (AR) & mixed reality (MR) market is analyzed, and market size insights and trends are provided by country, component, deployment model, distribution channel, device type, technology, application, and end user as referenced above.

The regions covered in the global augmented reality (AR) & mixed reality (MR) market report are U.S., Canada and Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Switzerland, Russia, Sweden, Poland, Belgium, Turkey, Rest of Europe, China, Japan, South Korea, Australia, India, Taiwan, Thailand, Singapore, Malaysia, Vietnam, New Zealand, Indonesia, Philippines, Rest of Asia Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Chile, Argentina, Peru and Rest of South America.

North America region is expected to dominate and is the fastest-growing region in the global augmented reality (AR) & mixed reality (MR) market due to advanced software research and development, rich entertainment content production, a favorable startup environment, and others. Moreover, this region has the highest number of popular brand manufacturers and users of AR and MR products. U.S. is expected to dominate the market as the country has highest number of popular brand manufacturers and users of AR and MR products. Whereas, China has huge adoption of technologically advanced smart wearables which fuels the adoption of AR & MR in the country. Moreover, Germany has increased investment in research and development of technology which fuels the market growth in the country.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Augmented Reality (AR) & Mixed Reality (MR) Market Share Analysis

The augmented reality (AR) & mixed reality (MR) market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the augmented reality (AR) & mixed reality (MR) market.

Some of the major players operating in the global augmented reality (AR) & mixed reality (MR) market are

· HP Development Company,

· LP,

· HTC Corporation,

· Autodesk Inc.,

· Barco,

· Intel Corporation,

· PTC,

· Seiko Epson Corporation,

· Ultraleap Limited,

· ASUSTek Computer Inc.,

· Dell,