Augmented Reality Market Growth, Business Experts, Industry Trends and Forecast
They project the global augmented reality and virtual reality market to grow from USD 37.0 billion in 2022 to USD 114.5 billion by 2027; I expect it to grow at a CAGR of 25.3% from 2022 to 2027. The key factors fueling the growth of this market include increasing application of AR devices in healthcare, increasing demand of AR in retail and e-commerce post-pandemic, rising investments in AR and VR market , partnerships between telecom players and AR manufacturers to reduce latency to imperceptible levels, rise in demand for AR in architecture, increasing demand for VR in training and education, high growth of AR and VR in travel, tourism, and enterprise applications. The AR and VR market is dominated by key global established players such as Google (US), Microsoft (US), Sony Corporation (Japan), Samsung Electronics (South Korea), HTC (Taiwan), Apple Inc., (US), PTC Inc., (US), Seiko Epson (Japan), Oculus VR (by Facebook (US)), Lenovo (China). These companies focus on adopting both o