Mobile Augmented Reality Market Bolstered by the Upsurge in the Usage of Smart Devices

Augmented reality resides the real-world with computer-generated information and multiple sensory modalities such as the haptic, accelerometer, and auditory. Augmented reality is an attempt to connect the digital information with the real world, and the demand for the same is remarkably increasing in many sectors. This reverberates with the findings by IndustryARC report, which has estimated the global mobile augmented reality market to be worth between $8 billion to $9 billion as of 2018, and projected the demand to increment at incredible CAGR between 57% and 65% during the forecast period of 2019 to 2025. The market research report is titled “Mobile Augmented Reality Market: By Component (3D Cameras, Displays, Sensors, Software), By Application (Smartphones, Tablets, PDA/Game Consoles, Smart Glasses,Wearables), By Vertical (Medical, A&D) & By Region – Forecast (2019 - 2025).”

The mobile augmented reality market has not gained prominence yet. However, the urban population is quite familiar with this term. The biggest break that mobile augmented reality got was through “Pokemon Go” in 2016. After this, the big giants such as Microsoft and Mozilla started to invest in the mobile augmented reality market. 

APAC contributes to the largest share for the mobile augmented reality market owing to the increasing investments made by companies in smart devices, and it’s quite evident when APAC boasts of maximum manufacturing of consumer electronics that include smart devices. Owing to this high-magnitude production of smart devices, APAC had a regional share of around 27% in 2018.

 

The consumer electronics sector application is continually driving growth of the mobile augmented reality market. With this sustained growth, the application CAGR is projected to grow at the fastest CAGR between 60% and 70% during the aforementioned forecast period. This phenomenal growth is due to the factors such as rapid increase in the usage of smartphones and tablets at the affordable price. This is also attributable to the increasing number of mobile internet subscriptions by the users.

Billions of dollars are being poured in the mobile augmented reality market. AR is observing increased investment with respect to Virtual Reality. The mobile augmented reality market is spotting numerous trends that are listed below:

Apple has dipped into the major plans for new technological investment that will make an impact on iPhones and iPads. Apple is now investing in AR headsets. Apple is already preparing itself for the technology-AR battle. The company is also planning for the laser-assisted approach that could be found in iPhone’s rare-facing and more powerful 3D cameras by 2020, which will eventually scan the environment to create a real world. Apple Inc. is in talks with Sony Corp. for the sensor testing for this new invention.

Google has stepped into the latest and innovative mobile augmented reality feature for google maps, which will provide people with directions from the phone’s camera in real-time. The Google maps application will pick up the live location via GPS, and then use street view data to narrow down the location and that will be displayed by big arrows indicating the directions. This is a major development in the mobile augmented reality market which will attract more customers.  

Global Mobile Augmented Reality Market: Competitive Landscape 

Some of the key companies identified in the report that are currently holding majority shares in the global mobile augmented reality market are Samsung Electronics Co. Ltd. , Google Inc., Microsoft Corporation , Qualcomm Inc. , Catchoom Technologies , Atheer Inc. , Apple Inc., Intel Corporation, Catchoom technologies, and Blippar.Com Ltd.   

https://www.industryarc.com/support.php?id=16201 

Augmented Reality & Virtual Reality Market for Commerce Industry: By Type (Software, Service), By Application (Gaming, Home furnishing, Hospitality, Real Estate, Fashion, Automotive, Education, Others) Geographic Analysis - Forecast (2018-2023)

https://www.industryarc.com/Report/16346/augmented-reality-virtual-reality-market-for-commerce-industry.html 

Spatial Augment Reality Market: By Type (AR, VR, Hybrid), By Technology (Motion Tracking, Camera Tracking, RFID, GPS, Others), By Platform (Portable/Handheld Gaming System, Tablets, Mobile Phones, Head Mounted Displays), By Payment ( Freeware, Freemium, One-time license, Subscription, Downloadable Content) Geographic Analysis -Forecast (2018-2023)

https://www.industryarc.com/Report/16373/spatial-augment-reality-market.html