The total mobile augmented reality market is expected to reach USD 79.77 Billion by 2022, at a CAGR of 69.85% between 2016 and 2022. The base year used for this study is 2015 and the forecast period is from 2016 to 2022. This report provides a detailed analysis of the mobile augmented reality market based on component, application, vertical, and geography. The commercial and consumer verticals are becoming popular due to the high demand for augmented reality apps in smartphones for marketing, advertising, and gaming. Mobile augmented reality enables the integration of digital information with a user’s real environment in real-time using mobile computing to provide 3D digital content or images with physical objects in the real world.
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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 consumer vertical includes gaming and entertainment applications. There are AR gaming applications for smartphones and game consoles in which players have access to create virtual objects and characters and can link those digital objects to defined locations in the real world. Therefore, the mobile augmented reality technology enhances the gaming experience with 3D view.
The market for the industrial vertical is expected to grow at a high rate since augmented reality apps and handheld devices are used in architecture and building design for a 3D view of the construction plan which helps reduce errors in the final design.
Software components are expected to experience high growth during the forecast period. In this technology, the development of applications is done by using software development kits (SDKs) based on requirements in different verticals. Also, different operating systems are used in handheld devices. Various software applications are being developed to make augmented reality more effective and accurate, within less time. Thus, the demand for software components is expected to be more than that for hardware components, in the future.
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.).
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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