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.
Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=174800140
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.
Market for smartphones projected to grow at a higher CAGR during the forecast period
Smartphones, nowadays, have multiple functionalities, including sensing; the data is gathered through various devices, such as microphones, cameras, accelerometers, gyroscopes, GPS, and proximity sensors. Also, high MHz processors, memory chips that store a large volume of data, fine-quality cameras, and 3D graphics software/cards are in demand to deploy in smartphones. Various types of software apps are installed in smartphones to increase their functionalities. After implementing AR applications, smartphones can work as AR systems that can identify and analyze data to enable users to visualize digital objects in real surroundings.
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.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment