Mobile Augmented Reality Market Analysis, Development Plans and Forecast to 2030
Mobile Augmented Reality Market Overview:
The global Mobile Augmented Reality Market is expected to grow USD 29.2 billion by 2030 at a CAGR of 17.76% during the forecast period 2020-2030. The increasing adoption of smartphones and tablets, emerging internet of things, and the popularity of wearable devices are some of the key factors driving the growth of the market.
Mobile augmented reality (AR) is a technology that superimposes a computer-generated image on a user's view of the real world, thus providing a composite view. Mobile AR is typically used with smartphones or tablets, which have the necessary sensors and processing power to create an immersive AR experience.
Competitive Landscape:
The mobile AR market is highly competitive, with several major players vying for market share. Some of the leading players in the market include:
- Apple Inc.
- Google Inc.
- Microsoft Corporation
- Qualcomm Inc.
- Vuzix Corporation
- EON Reality Inc.
- Wikitude GmbH
- Layar BV
- Metaio GmbH
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Market Segmentation:
The mobile AR market is segmented by application, component, end user, and region.
- By application: The mobile AR market is segmented into gaming & entertainment, enterprise, education, retail, and others.
- By component: The mobile AR market is segmented into hardware and software.
- By end user: The mobile AR market is segmented into consumers and enterprises.
- By region: The mobile AR market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Drivers:
The growth of the mobile AR market is being driven by several factors, including:
- The increasing adoption of smartphones and tablets. Smartphones and tablets are becoming increasingly powerful and feature-rich, making them ideal platforms for AR applications.
- The emerging internet of things (IoT). The IoT is connecting more and more devices to the internet, which is creating new opportunities for AR applications. For example, AR applications can be used to interact with IoT devices in the real world.
- The popularity of wearable devices. Wearable devices, such as smart glasses and smartwatches, are becoming increasingly popular. These devices can be used to deliver AR experiences that are more immersive and interactive.
Market Trends:
The mobile AR market is expected to witness several trends in the coming years, including:
- The growth of mobile AR gaming. Mobile AR gaming is one of the most popular applications of mobile AR. Games such as Pokémon Go have shown the potential of mobile AR to engage users and generate revenue.
- The growth of mobile AR in the enterprise sector. Mobile AR is being increasingly used in the enterprise sector for a variety of applications, such as training, customer service, and field service.
- The growth of mobile AR in the healthcare sector. Mobile AR is being used in the healthcare sector to provide patients with information about their condition, to guide surgeons during surgery, and to train medical professionals.
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Regional Analysis:
North America is expected to dominate the mobile AR market during the forecast period. This is due to the early adoption of AR technology in the region, as well as the presence of many AR developers and companies. Europe is also expected to be a major market for mobile AR, followed by Asia Pacific.
Conclusion:
The mobile AR market is expected to grow significantly in the coming years. The increasing adoption of smartphones and tablets, the emerging internet of things, and the popularity of wearable devices are some of the key factors driving the growth of the market. The market is also expected to benefit from the growing demand for mobile AR in the enterprise sector and the healthcare sector.
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