Meticulous Research®, a leading global market research company, has published a report titled "Augmented Reality Market by Offering (Smart Glasses, Headsets), Type, Application (Training & Learning, Gaming, Promotion & Advertising), End User (Retail & E-commerce, Media & Entertainment, Healthcare, Travel & Tourism), and Geography—Global Forecast to 2031."

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According to the report, the global augmented reality market is projected to reach $210.1 billion by 2031, growing at a CAGR of 34.9% from 2024 to 2031. Key drivers of this growth include increasing government initiatives to implement AR, rising demand in the retail & e-commerce sectors, and the growing adoption of AR in healthcare. However, privacy concerns and the high cost of hardware present challenges to market expansion.

The report highlights that advancements in 5G technology and emerging opportunities in the travel and tourism industry offer growth potential. However, a shortage of skilled professionals remains a significant obstacle.

The market is segmented by offering (hardware, platform, services), type (marker-based and marker-less AR), application (such as training, gaming, and advertising), and industry (including healthcare, retail, and media). The report also analyzes competitors and evaluates market trends at regional and country levels.

In 2024, the hardware segment is expected to hold over 55% of the market, driven by increasing AR device adoption, rising smartphone sales, and new product launches, such as Apple’s Vision Pro headset. This segment is also projected to have the highest CAGR during the forecast period.

The marker-based AR segment is anticipated to dominate the market type category due to the growing use of smartphones and advancements in remote assistance systems. Similarly, the gaming application is expected to account for over 33% of the market, though promotion and advertising will see the fastest growth due to increasing use of AR in marketing.

Among industries, media & entertainment is projected to lead with over 25% of the market, while the healthcare sector is expected to grow the fastest due to increased use of AR for training and government investment in healthcare.

Geographically, North America is expected to capture over 40% of the market in 2024, attributed to strong government initiatives and a robust digital infrastructure. However, the Asia-Pacific region is projected to record the highest CAGR of over 37.5%, driven by the adoption of AR technologies in countries like China, South Korea, India, and Japan.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/augmented-reality-market-1223

Key Players:

The key players operating in the global augmented reality market are Google LLC (U.S.), PTC, Inc. (U.S.), Seiko Epson Corporation (Japan), Microsoft Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Apple Inc. (U.S.), NVIDIA Corporation (U.S.), Qualcomm Technologies, Inc. (U.S.), Magic Leap, Inc. (U.S.), Vuzix Corporation (U.S.), Lenovo (China), Sony Corporation (Japan), Meta Platform, Inc. (U.S.), Snap Inc. (U.S.), and MAD Gaze (China).

Key Questions Answered in the Report:

• What are the high-growth market segments in terms of offering, type, application, and end-use industry?
• What is the historical market size for the global augmented reality market?
• What are the market forecasts and estimates for 2024–2031?
• What are the major drivers, restraints, opportunities, challenges, and trends in the global augmented reality market?
• Who are the major players in the global augmented reality market, and what are their market shares?
• What is the competitive landscape like?
• What are the recent developments in the global augmented reality market?
• What are the different strategies adopted by major market players?
• What are the trends and high-growth countries?
• Who are the emerging players in the global augmented reality market, and how do they compete with other players?

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