augmented reality AR has come a long way in recent years, according to the latest statistics. Today, AR is one of the most popular forms of immersive technology, with companies investing in apps and experiences every day.
With the right technologies, organizations can build immersive augmented reality training experiences, enhance collaboration, and improve customer experiences.
According to the latest reports from industry analysts such as Market Research Future, the augmented reality market is booming and growing at a faster rate than almost any other technology. So far, the AR space is set to grow at a rate Compound annual growth rate (CAGR) of about 41.5 percent $461.25 billion through 2030.
Analysts believe that the rapid transformation of the augmented reality space is caused by the rapidly developing tools and technologies in the immersive landscape. New software solutions for building AR experiences and more advanced cameras and displays have accelerated the development of AR.
Here’s a closer look at the stats that highlight the innovative solutions that are reshaping the world today.
The Rise of Augmented Reality: Top Augmented Reality Facts in 2023
Augmented Reality currently stands as one of the most exciting and disruptive technology solutions for business leaders across industry sectors. According to the year 2022 Snapchat and Ipsos MORI reportAR is emerging as a powerful tool for companies looking to interact with their target audience.
About 94 percent of business leaders say “fun” is the main reason people use AR.
However, the report also found that consumers have different opinions on what makes augmented reality compelling. For example, around 55 percent of consumers in the UK believe that the biggest benefit of augmented reality is that it helps with their shopping experiences.
79 percent of consumers showed interest in using augmented reality to place products in their environment to see what they might look like before purchasing them. In addition, 77 percent of consumers indicated that they are interested in using augmented reality to interact with products before purchasing them.
Key AR stats for 2023
- 57 percent of users say they are more likely to buy from a brand that offers augmented reality: Customers are more likely to buy products from a company that offers an immersive AR experience. According to the aforementioned Snap report, around 64% of consumers believe that the ability to use augmented reality in their shopping experience increases their sense of brand loyalty.
- Total revenue for AR/VR displays was $942 million in 2022: According to supply chain Market report2022 was a challenging year for the AR/VR technologies sector. However, the landscape is still expected to grow significantly in the coming years. Industry revenue is set to accelerate at a compound annual growth rate of 50.7 percent by the end of 2027.
- By the end of 2023, there will be 1.4 billion users of AR devices: Statistic mentioned The number of users of augmented reality devices has increased steadily over the past few years. There will be approximately 1.07 billion users of AR devices by the end of 2022. By 2023, this number is set to increase to 1.4 billion and 1.73 billion in 2024.
More numbers on the global AR industry
- The AR/VR Headset Market Is Expected To Ship Around 50 Million Units By 2026: Although shipments of AR/VR devices declined slightly in 2022 due to supply chain issues, the COVID-19 pandemic, and other economic issues, experts believe shipments will start to increase again from 2023. IDC She suggests that by 2024, shipments of augmented reality devices will increase by 88.86 percent year-on-year.
- The market value of smart glasses will reach $12.76 billion in 2030Interest in new forms of augmented reality technology is increasing. according to Grandview Research, the market value of this part of AR is approximately $5.84 billion. However, by 2030, the market should be worth $12.76 billion, at a compound annual growth rate of 10.3 percent.
- The AR software market will reach a value of $137.14 billion by 2028: The software used to create augmented reality experiences is also accelerating in terms of value. 2022 Grand Research a report It found that the global augmented reality software market was worth about US$8.58 billion in 2020 and may reach a value of US$137.14 billion by 2028, with a CAGR of 57.21 percent.
Business benefits of AR in 2023 and beyond
The increasing need for companies to connect with consumers on a more inclusive level has fueled the rapid growth of the augmented reality market and adoption rates. However, one should note that customer experiences are not the only area that can benefit from AR.
The best stats for 2023
- Non-desk workers may drive the adoption of augmented reality technologies: Mackenzie a report An analysis of AR adoption across global industries found that 2.7 billion officeless workers could become large users of immersive technology. Today, these employees represent about 80 percent of the global workforce.
- More than two-thirds of Americans believe that augmented reality will be integrated into everyday life within the next few years: According to ARRIS Composites a report, 70 percent of the US population believes that augmented reality will soon become a part of everyday life. Also, 82 percent answered that they will use AR and VR more often in the coming years.
- AR Market Size to Increase to $11.58 Billion in 2023:According to Statista, AR software is the largest segment in the world, with a market size of $11.58 billion in 2023. Revenue across the AR/VR market will also reach $31.12 billion by the end of 2023.
- As of 2023, there are 1,027 AR startups in the United States: according to As a global startup tracker, there were about 1,033 AR startups in the US in 2022. This represents an exponential increase in the number of AR startups in the US alone over the past two years. The number is currently 1027 for the year 2023.
according to McKinsey StudyGiven the ongoing “technology trends,” about 63 percent of companies adopting metaverse technologies like AR use these tools for training and education.
Furthermore, McKinsey believes that augmented reality and virtual reality technologies can mimic up to 100 percent of the work done to design physical products and spaces. As companies and businesses take advantage of augmented reality, the numbers will prove the true value and return on investment of the emerging technology.