Mobile Augmented Reality Market Research Report - Global Forecast to 2030

Global Mobile Augmented Reality Market, By Component (Hardware, Software), Applications (Smartphones, Smart Glasses & Wearable, Tablets), End-User (Telecommunication, Gaming & Entertainment) - Forecast Till 2030

ID: MRFR/ICT/0542-HCR | December 2022 | Region: Global | 100 Pages         

Mobile Augmented Reality Market

Mobile Augmented Reality Market Estimated to Reach at USD 29.2 Billion with 17.76% CAGR by 2030

Segmentation

By Component Hardware Software
By Applications Smartphones Smart Glasses & Wearable Tablets
By End-User Telecommunication Gaming & Entertainment

Key Players

  • Qualcomm Inc. (U.S.)
  • SAP SE (Germany)
  • Microsoft Corporation (U.S.)
  • Samsung Electronics Ltd. (South Korea)
  • Catchoom Technologies (Spain)
  • HCL Technologies Limited (India)
  • Apple Inc. (U.S.)
  • Intel Corporation (U.S)
  • DAQRI (U.S.)
  • Google Inc. (U.S.)

Drivers

  • The next-generation mobile AR and emerging internet are resulting in the growth of the market.
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Market Overview


Mobile Augmented reality is an AR that corporation along, anywhere we go. It specifically means that the hardware which is required to execute an AR application is something that can be carried with us wherever we go. There are a lot of companies that are leading providers of mobile augmented reality solutions in global warming. Such companies include- Samsung electronics Ltd ( South Korea), Microsoft Corporation (U.S), Google Inc (U.S.), and Bilapper (U.K.)


The latest devices have inbuilt features which are combined with the sensors, displays, and processing for the mobile users for such application resulting in market growth. The Mobile Augmented reality market is predicted to emit a CAGR of approximately 17.76% from 2020 to 2030.


COVID19 Analysis


The lockdown has a different impact on the industries as well as humans.  Working in AR allows people to shop, talk and socialize using different platforms. It has certainly made it earlier for people to stay connected using the internet. 


These technologies are easily available and affordable resulting in the growth of the market and socially connecting people. The new technologies are wearable and hands-free. The acknowledgment of such devices not only makes them popular among the consumers but also increases the sale and growth.


Mobile Augmented reality market analysis:


The use of artificial intelligence and mobile expansion is fueling the growth in the market. They are fully developed and advanced technologies that are as reliable as smartphones and laptops.


Drivers


The next-generation mobile AR and emerging internet are resulting in the growth of the market. They are the driving factors. Internet and artificial intelligence are giving rise to the growth and new way of digitalization.


Opportunities


Companies are catching the preferences of the consumer by fulfilling their demands virtually. They are seeking new opportunities to increase the market sale.  Wearable devices and handsfree devices have become popular among consumers resulting from the growth in the market. Tan these devices are being widely used among people making them lead a hassle-free life. With an augmented system, people can shop online and can conduct meetings as well as classes virtually.


Restraints


During the lockdown, there is a lot of change in our day-to-day routine. The impact of such devices is that it has made us dependable. The pandemic has caused many behavioral changes. People are now connected, can sing, can dance, or talk via video calls but has taken away the charm of meeting socially.


Technology analysis:


Mobile augmented reality market belongs to the next generation as thus, compliances with the emerging needs of the service seekers. Internet of things (IoT) along with artificial intelligence is boosting supply chain management. The digital era is the new reality with providing flexibility, ease, convenience, as well as support to the customers. Also, people are flocking towards fulfilling their cellular needs. This, in combination with artificial intelligence, is providing reliable solutions to the target audience, thus increasing the reliability quotient to a good level. 


Segment overview:


The Mobile Augmented reality market is segmented into four different categories. These include:


Component:


It further gets divided into two parts, i.e, hardware, and software. The hardware is,sub-segmented. It consists of 3D graphics systems, GPS systems, wireless networks, etc.


Applications:


The applications are further divided into smartphones, smart glasses, and wearables. They also include tablets, personal digital devices, and game consoles, making it easier for the generation to access.


End Part:


The end part is segmented into sub-segments such as Gaming and entertainment, Telecommunications, etc. They are divided into categories according to the functions and requirements of the consumers. For eg. enterprise (E-commerce, advertising, and healthcare) and public sectors (Education, Government, and Military )making it easy for the new generation to understand and recognize.


Regional analysis :


The Mobile Augmented reality market has a cross-over across the regions including North America, Europe, Asia Pacific, along the rest of the world. In terms of market shares, North America is one of the regions that are on top. The main reason behind this is the exposure the region has goi, in terms of the enormous demands. All this has been possible because of the extension of investment in the market by big market players.


Among many, Europe is the one to witness the rapid growth in the forthcoming period. India, China, and Japan are expected to grow at the highest CAGR in coming years being Asia Pacific countries. The Mobile Augmented reality market is expected to grow at USD-70 billion by 2023 at a CAGR of 61% during the forecast period from 2017 till 2023. This is a very promising figure thus, increasing the base of the mobile augmented market to a great level. 


Competitive Landscape:


The upcoming and rising companies in the global Mobile Augmented reality market are as follows:



  • Qualcomm Inc. (U.S.)

  • SAP SE (Germany) 

  • Microsoft Corporation (U.S.)

  • Samsung Electronics Ltd. (South Korea)

  • Catchoom Technologies (Spain)

  • HCL Technologies Limited (India)

  • Apple Inc. (U.S.)

  • Intel Corporation (U.S)

  • DAQRI (U.S.)

  • Google Inc. (U.S.)

  • Elsevier (Netherlands)

  • CORDIS (U.S)

  • Blippar (U.K.)

  • Infinity augmented reality (Israel)


Many among the others are still recovering from the losses due to the pandemic. 


HCL Technologies Ltd. is the company that balances both works as well as life altogether.


It is a multinational company that specializes in IT. The company has its respective offices in 32 countries some among them are the UK, US, France, and Germany. It believes in operating all the sectors including defense, banking, healthcare, hi-tech, etc.


Recent Developments in Mobile Augmented Reality Market are:



  • AR is being used in medical training. Its application range helps from performing highly delicate surgeries like MRI’s. The medical profession is all set to make use of technologies like artificial intelligence and the internet of things (IoT). This is going to provide a much-needed boost to the medical and hospitality sector. 

  • Augmented reality helps in connecting our device to the real world. You don’t need any specific glasses or headsets or other equipment. You need your device’s camera and just an AR application. 

  • It can provide many key benefits to brands as well as organizations. They further help in increasing the interaction between consumer and provider. It helps in creating awareness.

  • The growth of AR companies has been increasing since the past year, resulting in providing the highest salaries to the developers.

  • AR has been beating VR in popularity. The development has been side by side. The target audience is well accepting the mobile augmented reality market trends which are boosting the sales along with the market size. 


Report Overview


The mobile augmented reality market research report covers the emergence of the market with product launches and developments. This is the reality for the next generation making use of factors like AI, as well as, IoT. the report overview discusses and covers the following.



  • Market overview 

  • COVID 19 analysis 

  • Market dynamics 

  • Technology analysis 

  • Segment overview 

  • Regional analysis 

  • Competitive landscape 

  • Recent developments 


The availability of hands-free devices and wearables ones is an innovative way to drive the markets’ demand. The IoT, as well as artificial intelligence are grasping their fair share. There is a growing mobile expansion within the segments of components, regions, and applications, along with the end-users of the services. The Mobile Augmented reality market is focusing on expansion in areas like Northern America, Europe, as well as, the Asian Pacific nations. The growing demand is opening doors for a large number of investments in the long run. 



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 29.2 Billion
  CAGR   17.76%
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Component
  Geographies Covered   North America, Europe, Asia-Pacific
  Key Vendors   Qualcomm Inc. (U.S.) SAP SE (Germany) Microsoft Corporation (U.S.) Samsung Electronics Ltd. (South Korea) Catchoom Technologies (Spain) HCL Technologies Limited (India) Apple Inc. (U.S.) Intel Corporation (U.S) DAQRI (U.S.) Google Inc. (U.S.)
  Key Market Opportunities   
  Key Market Drivers   The next-generation mobile AR and emerging internet are resulting in the growth of the market.


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Frequently Asked Questions (FAQ) :

Mobile Augmented Reality Market Estimated to Reach USD 29.2 Billion by 2030.

The market has a forecast period ending in 2023. The expected size of the market by that time is Mobile Augmented Reality.

The gaming industry is focusing on the large-scale adoption of advanced technologies. This is one of the major drivers that is expected to work well for the expansion of the market size by the end of the forecast period.

By the end of the forecast period of 2023, there is an expectation of the market to grow at a 17.76% CAGR, globally.

The market has various divisions as its target audience. They are: • Mobile augmented reality providers, as well as, companies • Technology investors and organizations • System integrators • Solution providers • Researching and consulting firms • Research-based companies • Development-based organizations • Security providers • Professional and managed service providers • Technical and professional universities