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 2023 and 2028. Aided by the increasing adoption of AR-enabled smartphones and the growing applications of mobile augmented reality across various sectors, the market is expected to grow significantly by 2028.
Mobile Augmented Reality is a cutting-edge technology that overlays computer-generated enhancements onto a user’s perception of the real world, thus heightening their interaction with reality. This technology finds itself deeply ingrained in several sectors, including but not limited to gaming, entertainment, retail, and education, to offer immersive and engaging experiences to end users.
The global mobile augmented reality market growth finds its main propellant in the ever-increasing popularity of AR-enabled smartphones and related applications. With the advent of technology, the number of smartphones equipped with built-in AR capabilities has increased exponentially. This surge in numbers has established a substantial consumer base for MAR applications, thus increasing the mobile augmented reality market demand. In tandem with this development, the interest in AR gaming has seen a boost, owing to popular games such as Pokemon Go and Harry Potter: Wizards Unite, which have further accelerated the acceptance and use of MAR.
Beyond gaming, MAR’s potential has been realised across various other industries, significantly contributing to the mobile augmented reality market expansion. In the retail sector, MAR is offering immersive shopping experiences by enabling customers to visualise products in their environment before making a purchase. Similarly, in the education sector, MAR applications are transforming learning processes by turning abstract concepts into 3D visualisations, thereby making learning a more engaging process.
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Another significant contributor to MAR’s rising prominence is the shift towards remote work and online learning brought on by the COVID-19 pandemic. This has necessitated the need for compelling digital experiences, bringing MAR into the spotlight as an effective solution. With remote work and online education becoming the new norm, MAR is expected to play an instrumental role in creating immersive and interactive digital experiences, thereby driving the mobile augmented reality market development.
Additionally, the combination of rapid technological advancements, growing acceptance of AR in everyday life, and the rising need for immersive digital experiences are propelling the global mobile augmented reality market growth. Furthermore, emerging trends, such as AR-powered virtual social media interactions, real-time AR-based navigation systems, and increased use of AR for training and simulation in various industries, present a plethora of opportunities for future growth.
Mobile Augmented Reality Market Segmentation
The market can be divided based on component, device, application, and region.
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Market Breakup by Component
- Hardware
- 3D Camera
- Sensors
- Processor
- Others
- 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
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global mobile augmented reality companies. Some of the major key 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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