Introduction Global Mobile Augmented Reality Market, 2020-25
According to MarketsandMarkets, the mobile augmented reality 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 Compound Annual Growth Rate (CAGR) of 31.1% from 2020 to 2025. The increasing use of mobile AR in e-commerce and retail, gaming, and entertainment, and many other industries has been driving the market growth. The increased interest of giant technology companies in mobile AR apps is one of the driving factors for the growth of the MAR market. The objective of the report is to define, describe, and forecast the market based on type, offering, device type, application, and region.
Leading Industry Players:
- 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).
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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.
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.
Impact of COVID-19 on current mobile augmented reality market size and forecast
The year-on-year growth rate of the MAR market has dropped by -34% in 2020 due to the outbreak of COVID-19. However, post-COVID-19 AR/VR technology is gaining slight traction owing to its benefits in visualization, annotation, and storytelling. AR/VR technologies are aiding online learning and also offering access to cultural events, which is helping users to overcome the isolation of COVID-19 lockdowns. Apart from China, countries such as Japan, South Korea, and India in APAC are also expecting quick control over the outbreak, following a pre-emptive response in the form of lockdowns and social distancing. Many companies in APAC have switched to work remotely to curb the spread of the virus. The market players based in APAC are likely to gain through the growing use of AR through mobile devices in the healthcare and enterprise sectors.
This report categorizes the mobile augmented reality market based on type, offering, device type, application, and geography.
Mobile Augmented Reality Market, by Type:
- Marker-based (Passive Marker, Active Marker)
- Markerless (Model-based, Image Processing-based)
- Anchor-based
Mobile Augmented Reality Market, by Offering:
- MAR Software (AR application platforms, AR SDKs )
- MAR Services (AR Design & Development, Deployment & Support Services)
- Impact of COVID-19 on offering
Mobile Augmented Reality Market, by Device Type:
- Smartphones
- Tablets
- Personal Digital Assistants (PDAs)/Handheld Gaming Consoles
- Other Devices (Smartglasses, Wearables)
- Impact of COVID-19 on device types
Mobile Augmented Reality Market, by Application:
- Consumer (Gaming, Sports & Entertainment)
- Aerospace & Defense
- Healthcare
- Commercial (Tourism & Sight-seeing, E-learning, E-commerce & Marketing)
- Enterprise (Manufacturing)
- Others (Architecture & Building Design, Geospatial Mining)
- Impact of COVID-19 on various applications
Mobile Augmented Reality Market, by Geography:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of APAC
- RoW
- Middle East & Africa
- South America
- Impact of COVID-19 on various regions
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