The Business Research Company’s Augmented Reality Services Global Market Report 2021 : COVID-19 Growth And Change
LONDON, GREATER LONDON , UK, October 28, 2021 /EINPresswire.com/ — According to the new market research report ‘Augmented Reality Services Global Market Report 2021: COVID-19 Growth And Change’ published by The Business Research Company, the augmented reality services market is expected grow from $48.92 billion in 2020 to $67.63 billion in 2021 at a compound annual growth rate (CAGR) of 38.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $291.96 billion in 2025 at a CAGR of 44%. The COVID-19 outbreak is enforcing companies to shift towards more advanced and virtual solutions in order to continue their businesses, which is predicted to act as a major driver for the growth of the augmented reality (AR) services market in the short-term.
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The augmented reality (AR) services market consists of sales of augmented reality services. Augmented Reality is an integration of digital information with a real-time environment. AR services include services for the applications of training, preparation of annual reports and augmented brochures, architectural projects/ new construction, games, trade show environments, marketing campaigns, medical uses, data visualization, entertainment, and location-based education.
Trends In The Global Augmented Reality Services Market
The integration of blockchain technology is gaining significant popularity in the augmented reality services market. Blockchain technology is the Distributed Ledger Technology (DLT) in which digital assets are assigned with unique attributes using cryptography and are distributed on a decentralized and public ledger. Apart from digital currency application, blockchain technology performs several applications that augmented and virtual reality developers are focusing on such as it allows developers to create unique digital assets that users and other developers cannot copy, selling virtual real estate, tracking virtually represented data, and more. In 2019, Terra Virtua, an augmented reality entertainment platform and Worldwide Asset exchange announced that users can interact with the millions of digital collectibles trading through the WAX Blockchain in augmented reality. The incorporation of WAX into Terra Virtua brings together the strength of WAX blockchain and services for a secure and interactive social platform to buy, sell, view, and trade virtual collectibles. Thus, the incorporation of blockchain with augmented reality is expected to boost market growth during the forecast period.
Global Augmented Reality Services Market Segments:
The global augmented reality services market is further segmented:
By Applications: Training, Annual Reports and Augmented Brochures, Architectural Projects/New Construction, Games, Trade Show Environments
By Type: Hardware, Software
By End Use: Commercial, Healthcare, Automotive, Other
By Geography: The global augmented reality services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Augmented Reality Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides augmented reality services global market overviews, analyzes and forecasts market size and growth for the global augmented reality services market, augmented reality services market share, augmented reality services global market players, augmented reality services global market segments and geographies, augmented reality services market’s leading competitors’ revenues, profiles and market shares. The augmented reality services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Augmented Reality Services Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Augmented Reality Services Market Organizations Covered: Groove jones, Quytech, Craftars, WEAR, Next/Now, Apple, Microsoft, Niantic, Zappar, Augmented Reality Labs (Blippar), Lucyd, Magic Leap, Echo Interaction Group, Notion theory, Mobilab, AVRspot, Transition Technologies PSC, Innovecs, HQSoftware, INDE, Augment, Metagram, VironIT, Scanta, VR Vision Inc, 8ninths, Yeppar, Mutual Moblie, intellectsoft, Zco Corporation, CitrusBits. Regions:
Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Here is a list of reports from The Business Research Company similar to the Augmented Reality Services Global Market Report 2021:
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Augmented Reality In Training And Education Global Market Report 2021 – By Category (Primary And Secondary Education, Test Preparation, Reskilling And Certifications, Higher Education, Language), By Device (Classroom Projectors, Smartphones, Laptops), By End User (Higher Education, K-12), COVID-19 Growth And Change
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