New York, NY -- (SBWIRE) -- 01/15/2021 -- The Global Augmented Reality Hardware Market size is forecast to exceed USD 129.91 Billion from USD 1.96 billion in 2019, at a CAGR of 68% through 2027. The market growth is driven by the increasing deployment of augmented reality hardware in defense, aerospace, automotive, navigation, healthcare, education, gaming, sports, entertainment, manufacturing, and others.

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Prominent players in the global augmented reality hardware market are

Google, Microsoft Corporation, Magic Leap Inc., Zugara Inc., Osterhout Design Group, Upskill, PTC Inc., MAXST, Wikitude GmbH, and DAQRI LLC, among others.

Augmented Reality Hardware has become a boon for collaborative works, like conference calls, as they create a mixed-reality setting enabling everyone to see each other in a socially conducive environment. AR Hardware aids in reducing risk factors and cost rates associated with training. Extensive application in training and education is expected to bolster the augmented reality hardware market growth over the forecast period.

For retailing applications, augmented reality hardware allows retailers to exhibit more products than what could fit in a physical store, personalize product offering, and give tailored promotions as per personal preferences of retailers. Growing demand for retailing applications will foster AR hardware market size through 2027. However, issues pertaining to Augmented Reality Hardware modifications and high costs may act as negative factors for industry growth.

Further key findings from the report suggest

The global augmented reality hardware market size is forecast to exceed USD 129.91 Billion from USD 1.96 billion in 2019, at a CAGR of 68% through 2027. The market growth is driven by the increasing deployment of augmented reality hardware in defense, aerospace, automotive, navigation, healthcare, education, gaming, sports, entertainment, manufacturing, and others.

Based on hardware type, the head mounted displays sub-segment contributed significantly to the augmented reality hardware market revenue share in 2019 and is forecast to register a CAGR of 73.5% over the analysis period. The segmental growth can be attributed to the rise in the development of head mounted displays with advanced features for Augmented Reality Hardware.

Based on AR type, the superimposition based AR sub-segment is witnessing high demand due to increasing usage of this technology by medical professionals to superimpose an X-ray view of a fractured or broken bone of a patient on a real image to get a clear picture of the actual damage.

Based on application, the automotive sub-segment is forecast to witness the fastest growth rate of 67.5% over the projected timeframe on account of increasing product deployment in the automotive sector.

In the regional landscape, the APAC region is forecast to dominate the augmented reality hardware market at a CAGR of 72.2% through 2027. The robust growth can be attributed to the growing acceptance of newer technologies and increase in research & development activities in the region.

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For the purpose of this report, the Global Augmented Reality Hardware Market has been segmented on the basis of hardware component, hardware type, AR type cause, application, and region:

Hardware Component Outlook (Revenue, USD Million; 2017-2027)

Sensors
Processors
Displays

Hardware Type Outlook (Revenue, USD Million; 2017-2027)

Head Mounted Display
Head Up Display
Handheld

AR Type Cause Outlook (Revenue, USD Million; 2017-2027)

Projection Based AR
Recognition Based AR
Location Based AR
Outline AR
Superimposition Based AR

Application Outlook (Revenue, USD Million; 2017-2027)

Aerospace & Defense
Retail
Gaming, Sports, & Entertainment
Healthcare
Automotive
Education
Others

Regional Outlook (Revenue, USD Million; 2017-2027)

North America
U.S.
Europe
U.K.
France
Asia Pacific
China
India
Japan
Latin America
Brazil
Middle East & Africa

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Table of contents

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique

Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Augmented Reality Hardware Segmentation & Impact Analysis
    4.1. Augmented Reality Hardware Material Segmentation Analysis
    4.2. Industrial Outlook
         4.2.1. Market indicators analysis
         4.2.2. Market drivers analysis

Continued…

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