Last updated on December 8th, 2022 at 02:45 pm
Pandemic is fueling its growth
While the COVID-19 pandemic has damaged some markets, it is simultaneously fueling the growth of others. Among them is the market of augmented reality (AR) tools, the capabilities of which are in demand for remote assistance, training and work. According to experts from the consulting company ABI Research, by 2025, the augmented reality market’s total value will exceed $ 140 billion.
Augmented reality market to surpass $ 140 billion in 2025
“While corporate use has dominated conversations about augmented reality in recent years, this is changing. All tech companies that can change markets globally are already directly involved in AR, and many of them plan to focus more on AR hardware over the next two to three years, says Eric Abbruzzese, ABI Research Director. Research. “As a result, the AR market will shift from enterprises to consumers, which will benefit both sides by increasing competition.”
This trend is expected to be reflected in the growth patterns of sales of hardware and augmented reality content over the next five years. The fastest-growing segments include media, entertainment, retail and marketing.