The report "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", 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. Surge in adoption of AR technology by travel & tourism and education sector, increase in online gaming activities during COVID-19 pandemic, and rise in demand for mobile AR from retail sector to enhance consumers shopping experience are the key factors driving the market growth.
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Mobile AR SDKs to play a significant role in the growth of mobile augmented reality market
The healthy growth of companies involved in the development of AR SDKs would drive the growth of the MAR market. Numerous companies have begun targeting the enterprise applications of MAR and are exploring new business opportunities. The mobile AR SDKs developed by Google, and Apple, namely, ARCore, and ARKit have helped widespread adoption of mobile AR. Gaming and lifestyle are the key AR apps that have been downloaded by numerous users.
Tablets are estimated to hold the second largest share of the mobile augmented reality market in 2020
Tablet-installed AR apps are widely used in e-commerce & marketing, gaming, and many other application areas. The large screen size of tablets is convenient for location-based applications. A tablet allows switching the orientation of the screen according to a user’s orientation and adjusting the zoom level according to the current speed. Tablets use GPS and other tracking mechanisms to overlay digital content or information onto the real environment. Therefore, the installation of gaming apps is preferred more in tablets than in smartphones; hence, tablets account for the second-largest market share.
Market in APAC estimated to grow at the highest CAGR during forecast period
The improvement in the spending capacity of people in various APAC countries, such as China, India, has led to the increasing demand for consumer-centric products, including smartphones, smart wearables, and other consumer electronic products, including gaming consoles. This has led to the adoption of mobile AR for gaming and entertainment applications. Therefore, strong growth for mobile AR applications in the coming years is expected in APAC.
Major vendors in the mobile augmented reality market include Google (US), PTC (US), Apple (US), Wikitude (Austria), Samsung Electronics (South Korea), Blippar (UK), MAXST (South Korea), Magic Leap, (US), Upskill (US), and Atheer (US). Apart from these, Talespin (US), Scanta (US), Craftars (Romania), Appentus Technologies (India), and BidOn Games Studio (Ukraine) are among a few emerging companies in the mobile augmented reality market.
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