The global augmented reality services market is expected to decline from $50 billion in 2019 to $48.96 billion in 2020 at a growth rate of -2.08%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities that eventually led to a slowdown in the economy. The market is then expected to recover and reach $148.72 billion in 2023 at a rate of 44.8%.
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Augmented Reality (AR) 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.
Global Augmented Reality Services Market Segmentation –
The augmented reality (AR) services market report is segmented by application into – training, annual reports and augmented brochures, architectural projects/new construction, games, trade show environments.
Global Augmented Reality Services Market Driver –
The COVID-19 outbreak is forcing 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. Increasing demand for AR in various end-use industries post COVID-19 outbreak is expected to generate a higher demand for augmented reality services.
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Few Points From The Global Augmented Reality Services Market TOC
1. Executive Summary
2. Augmented Reality Services Market Characteristics
3. Augmented Reality Services Market Size And Growth
3.1. Global Augmented Reality Services Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Augmented Reality Services Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Augmented Reality Services Market Segmentation
5. Augmented Reality Services Market Regional And Country Analysis
5.1. Global Augmented Reality Services Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Augmented Reality Services Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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