How Augmented Reality is Transforming the Retail, Healthcare and Education Sectors

 The size of the global augmented reality market, estimated at USD 42.20 billion in 2022, is expected to increase by 1,109.71 billion USD by 2030, with a CAGR of 50.7% from USD 62.75 billion USD in 2023. 

The study's purview included augmented reality (AR) products offered by companies like PTC Inc., Google LLC, Apple Inc., Qualcomm Technologies, Inc., Magic Leap, Inc., Sony Corporation, and others. These participants provide a range of answers. PTC Inc. provides products like Vuforia AR, Vuforia Studio, Vuforia Expert Capture, Vuforia Instruct, and Vuforia Spatial Toolbox, as an illustration. Similarly, Google LLC provides ARCore, an AR platform that includes environmental HDR, cloud anchors, and depth of digital objects.

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Information about the report:

  ATTRIBUTE

DETAILS

Study Period

2019-2030

Year of Base

2022

Predicted Year

2023

Forecasting Period

2023-2030

Historical Timeframe

2019-2021

Rate of Growth

50.7% CAGR between 2023 and 2030

Unit

Value (USD Billion)

Segmentation

By Industry, Application, and Geography

Analyses of the worldwide Augmented Reality Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.

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Maintaining customer relationships has emerged as the most crucial aspect of business growth in the modern world. The demand for creative customer engagement solutions increased as the percentage of loyal customers shrank and consumers switched brands quickly. Because it provides a customized and interactive experience that contributes to enhanced customer satisfaction, many businesses are experimenting with AR to make a lasting impression on their customers. For instance, businesses using Android. in's online augmented tools for customer engagement report a 200% increase in sales, according to the provider of business-to-business augmented reality solutions. An Infosys white paper claims that brands that offer customized products are seeing revenue growth that is six to ten times higher. As a result, technology can greatly assist marketers in giving customers a personalized experience. 

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