The mobile augmented reality market is expected to be
worth USD 79.77 Billion by 2022, at a CAGR of 69.85% between 2016 and
2022. It has a large application in the commercial vertical. Mobile
augmented reality is one of the emerging technologies to view virtual
information or content in a real-world environment using handheld
devices.
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The commercial vertical accounted for the largest
share of the mobile augmented reality market, followed by the consumer
vertical, in 2015. The augmented reality applications in e-commerce
help retailers provide digital information and 3D visualization of
physical goods. Retailers, franchise stores, and mall owners are using
mobile augmented reality technology for advertising and marketing. In
the tourism sector, virtual objects are displayed in a real environment
to provide users information pertaining to a particular site and enrich
their experience. This is likely to boost the demand for this
technology in this sector.
The market for software components is expected to
grow at the highest CAGR between 2016 and 2022. Software components
include programming languages, platforms, interfaces, and software
development kits (SDKs) used to develop mobile augmented reality apps.
Also, for coordination with the real-world, software such as motion
tracking, capturing algorithms, servers, and graphics libraries are
required. The advancement in platform based-applications and networking
services would lead the mobile augmented reality market. The demand for
the Installation of various software applications in smartphones with
high functionalities and embedded sensors, to sense the real environment
and provide related virtual information simultaneously, is growing.
Therefore, the demand for smartphones in mobile augmented reality is
high.
APAC expected to hold the largest market share and witness high growth during the forecast period
The mobile augmented reality market in APAC is
expected to grow at the highest CAGR between 2016 and 2022. The reason
for this growth is adoption of new technologies, economic growth, and
increasing use of smartphones and other gadgets. The rapid increase in
technological innovations and advanced communication systems are driving
the demand for mobile augmented reality apps in China, Japan, India,
and South Korea. Most of the developments in smartphones and tablets
market are expected in China. Therefore, the market in APAC is expected
to grow rapidly during the forecast period.
The key players in the ecosystem of the mobile
augmented reality market profiled in this report are Google Inc. (U.S.),
Qualcomm Inc. (U.S.), Samsung Electronics Co. Ltd. (South Korea),
Microsoft Corporation (U.S.), Infinity Augmented Reality Inc. (Israel),
Blippar.com Limited (U.K.), DAQRI LLC (U.S.), Wikitude GmbH (Austria),
Metaio GmbH (Germany), Catchoom Technologies (Spain), Aurasma (U.K.),
and Atheer Inc. (U.S.).
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This research report categorizes the global mobile
augmented reality market based on component, application, vertical, and
geography. This report describes the drivers, restraints, opportunities,
and challenges for the growth of the mobile augmented reality market.
The Porter’s five forces analysis has been included in the report with a
description of each of its forces and their respective impact on the
mobile augmented reality market.
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