According to a new report, published by KBV research, The Global Augmented Reality Navigation Market size is expected to reach $14.37 billion by 2031, rising at a market growth of 38.5% CAGR during the forecast period.
The Indoor Navigation segment is experiencing a CAGR of 39.2% during (2024 - 2031). Indoor navigation solutions are increasingly used in large venues such as shopping malls, airports, hospitals, museums, and office buildings. These systems use AR technology to guide users through complex indoor environments, offering turn-by-turn directions, location-based services, and information overlays. The growth of smart buildings, the need for efficient wayfinding systems in crowded spaces, and the rise in demand for personalized indoor experiences have contributed to the expansion of the indoor navigation segment.
The Hardware segment is leading the Global Augmented Reality Navigation Market by Component in 2023; thereby, achieving a market value of $5.97 billion by 2031. This growth can be attributed to the increasing demand for AR-compatible devices, such as smartphones, AR glasses, smartwatches, and other wearable technology. Hardware components are crucial in delivering immersive AR navigation experiences, allowing users to interact with the real world through digital overlays. The advancement in hardware technology, including improved sensors, GPS accuracy, and augmented reality displays, has significantly contributed to the growth of this segment.
The Gaming & Entertainment segment exhibits a CAGR of 39% during (2024 - 2031). AR navigation solutions are being used to enhance the shopping experience online and in physical stores. For example, AR navigation guides customers to specific product locations in physical stores, offers personalized promotions, and assists with inventory tracking. In e-commerce, AR navigation tools allow consumers to virtually try products like clothing or furniture in their homes using their smartphones or other AR devices. Integrating AR navigation in retail environments has greatly improved customer engagement and satisfaction, contributing to the segment’s growth.
Full Report: https://www.kbvresearch.com/augmented-reality-navigation-market/
The North America region dominated the Global Augmented Reality Navigation Market by Region in 2023; thereby, achieving a market value of $4.94 billion by 2031. The Europe region is expected to witness a CAGR of 38% during (2024 - 2031). Additionally, The Asia Pacific region would register a CAGR of 39.2% during (2024 - 2031).
By Type
By Component
By End Use
Unique Offerings 
