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Augmented Reality (AR) and Mixed Reality (MR) Market

The augmented reality (AR) & mixed reality (MR) market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 50.1% in the forecast period of 2021 to 2028 and is expected to reach USD 23,302.85 million by 2028. Increasing penetration of smart devices and internet services is expected to drive the augmented reality (AR) & mixed reality (MR) market.

Augmented reality is a technology, which uses the existing user’s environment and overlays the digital or virtual content or information over it to offer an immersive digital experience in a real-time environment. Mixed reality symbolizes the controlled collision of the AR/VR and IoT trends. Mixed reality (MR), also referred to as hybrid reality, is the technology that is used to merge real and virtual worlds and produce new environments and visualizations where physical and digital objects co-exist and interact in real-time.

Rise in adoption of augmented reality by educational institutes is expected to drive the augmented reality (AR) & mixed reality (MR) market. Loss of data and privacy is expected to hinder the augmented reality (AR) & mixed reality (MR) market. Rise in investment and funding by developed countries is expected to create opportunities for the augmented reality (AR) & mixed reality (MR) market. Complication while operating AR and MR-based product is expected to challenge the augmented reality (AR) & mixed reality (MR) market.

 

For more:

 

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