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Augmented Reality Industry Will Boom Due to Innovative Interactive Experiences

July 19, 2023 | Information & Technology

Although, there have been isolated Augmented Reality (AR) applications for many years, the technology needed to fully realize their promise has just lately become available. In essence, AR creates pictures or animations that are superimposed on the real world using large amounts of data and analytics. The majority of AR apps are currently supplied through mobile devices, but distribution will gradually move to hands-free wearables like head-mounted displays or smart glasses.

According to Fortune Business Insights, the global market for augmented reality could be worth USD 1,109.71 billion by 2030 with a CAGR of 50.7% over the forecast period. The market stood at USD 42.20 billion in 2022 and reached USD 62.75 billion in 2023.