Mobile Augmented Reality Market with COVID-19 Impact Analysis by Device Type (Smartphones, Tablets, PDAs), Offering (Software, Services), Application (Consumer, Healthcare, Enterprise, Commercial), and Region - Global Forecast to 2025
The mobile augmented reality (AR) market is projected to grow from USD 7.6 billion in 2020 to USD 29.5 billion by 2025; it is expected to grow at a CAGR of 31.1% from 2020 to 2025. With the rising use of smartphones and AR browsers, consumers are gradually accepting this human-computer interaction (HCI), and mobile augmented reality is gaining attention in terms of further research. The rise in demand for mobile AR from retail sector to enhance consumers shopping experience, increase in online gaming activities during COVID-19 pandemic, and surge in adoption of AR technology by travel & tourism and education sector are the key factors driving the market growth.
“Mobile augmented reality software apps and SDKs are expected to grow at a high CAGR during forecast period”
AR application platforms enable users to create AR images by providing them easy interface; for instance, an AR creation platform named Aurasma is a simple, drag-and-drop AR creation studio that allows users to augment images with digital content. Mobile AR application platforms are easy to learn and are basically used for classroom applications. These platforms are also used for smaller projects with simple multimedia overlays, such as images or short videos but have their own limitations. These platforms leave the AR creator with no control over the design of the application interface. Moreover, software development kit (SDK) is a set of software development tools that allows the creation of applications for a particular software package, software framework, hardware platform, and operating system.
“Consumer application is expected to maintain its market dominance during forecast period”
The consumer application includes gaming and entertainment applications wherein mobile AR apps are useful in creating 3D virtual objects in the real world. The mobile augmented reality technology offers remarkable results regarding visual effects when used in gaming and sports broadcasts. The demand for AR apps in video games and gaming consoles is very high. These apps give a 3D view of virtual objects in the real world. Therefore, users can play a game in the real environment.
“North America holds a significant share of the market in 2020”
Key players in the MAR market, such as Google (US), PTC (US), and Apple (US), are based in North America, which is the key factor contributing to the growth of the MAR market in the region, along with the rising adoption of new technologies by companies based in the region to simplify industrial operations.
The MAR market in Asia Pacific is expected to grow at a high rate for applications such as healthcare, commercial, industrial, and consumer. The increasing number of players that develop mobile apps in the region would support the growth of the MAR market. In Asia Pacific, this market is majorly driven by the growing number of internet users in China and India with the rapid development of high-speed broadband networks and mobile devices. This growth opens avenues for AR technology, which provides 3D visualization of information merged in real time using smartphones and tablets.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the mobile augmented reality marketspace. The break-up of primary participants for the report has been shown below:
By Company Type: Tier 1 – 15%, Tier 2 – 50%, and Tier 3 – 35%
By Designation: C-level Executives – 45%, Directors – 35%, and Others – 20%
By Region: North America –45%, APAC– 35%, Europe – 12%, and RoW – 8%
The report profiles key players in the mobile augmented reality market with their respective market ranking analysis. Prominent players profiled in this report are Google (US), PTC (US), Apple (US), Wikitude (Austria), Samsung Electronics (South Korea), Blippar (UK), MAXST (South Korea), Magic Leap US), Upskill (US), Atheer (US), Marxent Labs (US), Inglobe Technologies (Italy), Augment (France), Niantic (US), NEXT/NOW (US), 8ninths (US), Groove Jones (US), VironIT (US), Scope AR (US), EON Reality (US), INDE (UK), Zappar (UK), HQSoftware (Estonia), Talespin (US), Scanta (US), Craftars (Romania), Appentus Technologies (India), and BidOn Games Studio (Ukraine).
This research report categorizes the mobile augmented reality market on the basis of type, offering, device type, application, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the mobile augmented reality market and forecasts the same till 2025 (including analysis of COVID-19 impact on the market). Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the mobile augmented reality ecosystem.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the mobile augmented reality market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
4. The analysis of the top 25 companies, based on the strength of the market rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
5. Patent analysis and technological trends that will shape the market in the coming years have also been covered in this report.
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