$77 Billion Augmented Reality Market is Expected to Grow at a CAGR of over 29.8% During 2022-2028 – Vantage Market Research
A press release dated April 22, 2022 reveals the AR market growth. Vantage Market Research’s recent analysis of the Global Augmented Reality (AR) Market finds that the increase in globalized threat of ransomware is expediting market growth.
The primary driver is found to be rising adoption of IoT, the total Global Augmented Reality (AR) Market is estimated to reach USD 78.0 Billion by 2028.
The Market stood at a revenue of USD 16.3 Billion in 2021, and is expected to exhibit a Compound Annual Growth Rate (CAGR) of 29.8%.
Furthermore, the growing adoption of artificial intelligence and blockchain technology for risk analytics is also anticipated to augment the growth of the Global Augmented Reality (AR) Market, states Vantage Market Research.
The other Market Dynamics reported upon include increase in adoption of AR technology in healthcare sector to fuel global Augmented Reality market
The increasing adoption of AR technology is expected to fuel the growth of the Augmented Reality (AR) Market during the forecast period. Augmented reality has great potential in the healthcare industry.
With this technology, healthcare can become more affordable and can be extent to millions of individuals. The technology can address health awareness, diagnosis, patient monitoring, patient care, disease outbreak and preventions, medical equipment upkeep and training, treatment and therapy planning, and lifestyle improvement.
Further, with augmented reality, medical professionals can get better at drawing blood, using a handheld scanner that projects over the skin and shows nurses and doctors where the veins are present in the bodies of patients. Thus, AR can be used for wide range of applications in the healthcare sector which has increased its overall demand across this industry.
The AREA does not sponsor such market research – for further details and to request a sample copy direct from the research organization please see the original press release.