According to the report by Expert Market Research (EMR), the global Mobile Augmented Reality Market Size is projected to grow at a CAGR of 3.30% between 2024 and 2032. Aided by the growing demand for immersive experiences and rising smartphone penetration, the market is expected to grow significantly by 2032.
Mobile augmented reality refers to the integration of digital information with the user’s environment in real time through mobile devices such as smartphones and tablets. This technology enhances the user’s perception of reality by overlaying digital content onto the physical world, creating an interactive and immersive experience.
The gaming industry is one of the key drivers of the mobile augmented reality market growth. Popular games like Pokémon Go have demonstrated the potential of AR in creating engaging and interactive gaming experiences, leading to increased investment in AR game development. The retail sector is also leveraging AR to enhance the shopping experience by allowing customers to virtually try on clothes or visualise how furniture would look in their homes before making a purchase. This is expected to drive the mobile augmented reality market expansion.
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In the healthcare sector, mobile AR is being used for medical training, patient education, and surgical visualisation, improving the efficiency and effectiveness of medical procedures. The technology’s ability to provide real-time information and visualization is proving to be a valuable tool for healthcare professionals.
The increasing availability of AR-compatible smartphones and the development of advanced AR apps are further contributing to the market growth. As mobile devices become more powerful and AR technology continues to evolve, the applications of mobile augmented reality are expected to expand in the forecast period.
Moreover, the COVID-19 pandemic has accelerated the adoption of AR technology as businesses and consumers seek innovative ways to interact and engage in a socially distanced world. Virtual try-on solutions, remote assistance, and interactive learning experiences are just a few examples of how AR is being used to adapt to the new normal.
The mobile augmented reality market is making significant strides in sectors such as education, real estate, and automotive. In education, AR is being used to create interactive and engaging learning experiences, making complex subjects more accessible and enjoyable for students. For instance, AR-enabled textbooks and educational apps allow students to visualise historical events, scientific phenomena, and mathematical concepts in 3D, enhancing their understanding and retention of information. This is expected to drive the mobile augmented reality market expansion in the forecast period.
In the real estate industry, AR is revolutionising property visualisation and marketing. Potential buyers can use their mobile devices to take virtual tours of properties, view 3D models of buildings, and even visualise furniture and decor in empty spaces. This not only saves time and resources but also provides a more immersive and informative experience for buyers.
The automotive industry is leveraging mobile AR for maintenance, repair, and design visualisation. AR apps can provide mechanics with real-time, step-by-step guidance for repairs, overlaying digital information onto physical car parts. Additionally, car designers can use AR to visualise and modify car models in 3D, streamlining the design process. This is expected to drive the mobile augmented reality market development in the forecast period.
However, despite the numerous opportunities, the mobile augmented reality market faces challenges such as privacy concerns, technological limitations, and user experience issues. Ensuring the security of user data and addressing privacy concerns is crucial for the widespread adoption of AR. Furthermore, improving the accuracy stability of AR technology, as well as enhancing the user interface, are essential and for providing seamless and enjoyable AR experiences.
In conclusion, the global mobile augmented reality market is set to transform various industries by offering innovative solutions and immersive experiences. As technology continues to advance and overcome current challenges, the potential applications of mobile AR are bound to expand, driving further growth and innovation in the market.
Mobile Augmented Reality Market Segmentation
The market can be divided based on component, device, application, and region.
Market Breakup by Component
- Hardware
- Software
- Services
Market Breakup by Device
- Smartphones
- Tablets
- Personal Digital Assistants (PDAs)
- Others
Market Breakup by Application
- Consumer
- Enterprise
- Commercial
- Healthcare
- Aerospace and Defence
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Mobile Augmented Reality Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global mobile augmented reality market. Some of the major players explored in the report by Expert Market Research are as follows:
- Samsung Electronics Co., Ltd.
- Blippar Group Limited
- ScienceSoft USA Corporation
- Google LLC
- Apple Inc.
- Magic Leap, Inc.
- Qualcomm Technologies, Inc.
- iTechArt Group, Inc.
- Microsoft Corporation
- Groove Jones LLC
- ImagineAR
- Marxent Labs LLC
- Others
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