AR Tech Soars: Market to Hit $90.56B by 2028, Transforming Education, Healthcare, and Retail

October 22, 2024
AR Tech Soars: Market to Hit $90.56B by 2028, Transforming Education, Healthcare, and Retail
  • By 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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