Augmented and Mixed Reality Market Outlook and Forecasts 2020 – 2027

Augmented and Mixed Reality Market Outlook and Forecasts 2020 – 2027

Augmented Reality (AR) is a compelling technology that displays a layer of computer-generated augmentation on top of physical reality through the user's standard or processed vision. Mixed Reality provides additional information about the physical world around the user without changing the existing environment. This growing application paradigm promises a vibrant future for AR technology. It will become a mainstream technology within the next five years to seven years, especially in workplace settings including enterprise and manufacturing.

The AR landscape includes multiple device categories; components providers; inputs, outputs, and interactions tools for AR app systems; AR tools and services associated with AR platforms; and diverse applications in multiple industry sectors. The computing layer is composed of AR devices, interactive devices, and hardware components along with OS software tools.

Awareness of augmented applications has significantly increased in recent years especially among industrial and enterprise settings due to multiple types of benefits such as reducing product design risks, accelerating production, improving performance, engaging customers, enabling immersive training, and many more.

3D based content and learning makes a huge difference in the AR application category. Mind Commerce sees AR gradually becoming part of consumer’s everyday lives, superimposing digital world onto real world experience, enhancing the experience of reality, while making it more understandable and interesting.

This research assesses the current growth and adoption trends of augmented and mixed reality in consumer electronics, enterprise, industrial, and military markets. The market is segmented on the basis of hardware, software, service, market type, technology, industry vertical, regions, and leading countries.

This research also further segments on the basis of various sub segments of the market. Mind Commerce examines the long-term potential for the augmented and mixed reality market with forecasts from 2020 to 2027. This report is focused to discuss the analytical approach, input parameters, and assumptions.

Report Audience:
• Network operators
• Telepresence companies
• AR, MR, and VR companies
• ICT infrastructure providers
• Electronics component providers
• Robotics and automation companies
• Enterprise across all industry verticals

Report Benefits:
• Augmented and Mixed reality forecasts through 2027
• Identify market leaders and their strategies and solutions
• Understand the market dynamics within the AR/MR ecosystem
• Understand the relationship between AR/MR and other technologies
• Identify high-potential investment areas for AR/MR application development

Select Report Findings:
• The augmented and mixed reality market is poised to grow at a CAGR of 63.0% during 2020 – 2027 and reach $326.1 billion by 2027, while by volume the market is 26.3 million units and expected to reach 99.9 million with a CAGR of 18.2% during 2020 – 2027.
• Hardware segment is the largest segment and will remain the largest component in the forecast period. Head mounted display (HUD) is the largest hardware component. Service segment is expected to have the highest growth with a CAGR of 91.1% during 2020 – 2027.
• Marker based reality is largest segment with a value of $3.7 billion in 2019, while marker less reality is expected to highest growth with a CAGR of 67.2% during 2020 – 2027
• Consumer electronics is the largest industry vertical and expected to remain the largest segment. The military segment is expected to have the highest growth with a CAGR of 78.5% during 2020 – 2027.
• North America is the largest region, followed by Europe. The USA is the largest country in the North America market, while Germany, France, and the UK are highest in Europe.
• China, India, and Japan are leading country in the Asia Pacific augmented and mixed reality market, while South Africa, UAE, and South Africa are the major countries in Middle East and Africa
• Latin America is expected to have the highest growth with a CAGR of 75.0% during 2020 – 2027. Brazil and Argentina are the major countries.