AR Tech Soars: Market to Hit $90.56B by 2028, Transforming Education, Healthcare, and Retail
October 22, 2024By 2028, the MAR market is anticipated to reach $90.56 billion, driven by the increasing adoption of AR technology in entertainment and gaming.
The future outlook for AR/VR careers is positive, with expected exponential market growth and increasing demand for skilled professionals.
Studies show that AR-assisted learning enhances student motivation and improves academic performance compared to traditional methods.
Augmented Reality (AR) technology has rapidly advanced, significantly impacting sectors such as education, healthcare, and retail.
The Global Augmented Reality (AR) and Mixed Reality (MR) market is projected to grow at a remarkable compound annual growth rate (CAGR) of 43.8% from 2024 to 2031.
The Mobile Augmented Reality (MAR) market is expected to grow from $20.54 billion in 2023 to $27.57 billion in 2024, reflecting a CAGR of 34.3%.
Global spending on AR/VR technologies is projected to exceed $72 billion by 2024, indicating rapid adoption across various industries.
Retailers like IKEA are leveraging AR applications to allow customers to visualize how products will fit in their homes before making a purchase.
AR technology enhances user experiences by overlaying digital content onto the physical world, enriching interactions in various applications.
In healthcare, AR is utilized in surgical settings to superimpose real-time data, aiding precision and improving patient care.
Key roles in the AR/VR industry include Developer, Designer, 3D Artist, Product Manager, and UX/UI Specialist, each requiring specific technical and creative skills.
Recent innovations include Vuzix Corporation's launch of the Z100 smart glasses, designed to connect workers with AI tools and provide hands-free information delivery.
Summary based on 4 sources
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Sources
Analytics Insight • Oct 19, 2024
Is a Career in AR/VR Worth It?openPR • Oct 18, 2024
Mobile Augmented Reality (MAR) Market: Analysis of Market Dynamics and Future TrendsNasi Lemak Tech • Oct 21, 2024
The role of augmented reality (AR) in everyday life: Beyond gaming | Nasi Lemak Tech