The global augmented reality market is estimated to grow at a CAGR of 31.0% during the forecast period (2019-2025). The market growth is attributed to technological advancement and increasing investment in the augmented reality industry. Additionally, emerging applications across e-commerce and use of AR technology for effective advertising are also estimated to be major factors that are driving the growth of the market. However, low awareness, connectivity issues, and financial constraints and complexity are some of the major barriers to the growth of the global augmented reality market. Besides, opportunities in the enterprise industry and increasing demand for augmented reality in architecture are predicted to boost the market in the near future.
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The global augmented reality market is segmented on the basis of device type, offering, and application. By device type, the market is divided into head-mounted, head-up, and handheld. The head-mounted display is expected to hold a significant share in the market owing to its increasing application in e-commerce and marketing. By offering, the market is segmented into hardware and software. Hardware involves sensors, displays and projectors, and cameras. In addition, processors and input devices are included in the hardware segment. Software is used to create and integrate interactive 3D augmented reality experiences on any screen. It is expected to have a considerable share in the market. On the basis of application, the market is segmented into enterprise, commercial, consumer, healthcare, automotive, and others.
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Augmented Reality Market Segmentation
By Device Type
· Head-Mounted
· Head-Up
· Handheld
By Offering
· Hardware
· Software
By Application
· Enterprise
· Consumer
· Commercials
· Automotive
· Healthcare
· Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
