Today, using internet on mobile is a common thing, and the next big thing is the augmented reality which all leading mobile makers are providing. Nowadays, advanced smartphones and tablets offer Internet of Things (IoT), along with the advanced technologies in augmented reality. They are integrated with the sensors, processing, and displays for mobile which is used for augmented reality applications.
Market Research Future (MRFR) has published a research report that anticipates colossal growth for the global mobile augmented reality market with 61% CAGR (Compound Annual Growth Rate) between 2017 and 2023. In terms of cash, the market is expected to rise with the US $ 70 bn by the end of the forecast period. The key factors that are driving the growth of this market include craze for next-generation mobile augmented reality, emerging IoT & artificial intelligence (AI), the popularity of wearable devices & hands-free devices, and the growing market of mobile handsets.
The global mobile augmented reality market has been segmented on the basis of application, component, end user, and region. As per the application based segmentation, this market has been segmented into game consoles, personal digital assistants, smart glasses & wearable, smartphones, and tablets. On the basis of components, the market has been segmented into hardware and software. Further, the hardware is sub-segmented into 3D graphics system, displays, Global Positioning System (GPS), sensors, wireless network, and others. Based on the end users, the market has been segmented into enterprises, gaming & entertainment, public sectors, telecommunication, and others. Enterprises include advertising, e-commerce, and healthcare. Public sector covers the education sector, military sector, and government sector.
The regional segmentation of the global mobile augmented reality market comprises of Asia Pacific, North America, Europe, and the rest of the world (RoW). The largest regional market for mobile augmented reality is North America. Factors contributing to the growth of the market in this region include huge demand for smart devices, growing investment in smart devices and augmented reality, and technological advancement because of which, the market for technologically advanced products is always ready-made in this region. The biggest country-based markets in this region include the United States of America (USA), Canada, and Mexico.
During the forecast period, Europe market is expected to witness huge growth because, after North America, Europe has maximum technological advancement. Its population is anyways more than North America. The cream of this lucrative market comprises of France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Europe. With steady technological advancement, high density of population, and growing demand for mobile devices, Asia Pacific region is expected to emerge as a significant market for mobile augmented reality. Important country-based markets in this region are Australia, China, India, Japan, and New Zealand, followed by the rest of the Asia Pacific region. In the RoW countries, due to limited technological advancements, some countries of Latin America and Middle East & Africa (MEA), can emerge as potential markets in the near future.
The key players in the global mobile augmented reality market include Apple Inc. (USA), Blippar (UK), Catchoom technologies (Spain), CORDIS (USA), DAQRI (USA), Elsevier (Netherlands), Google Inc. (USA), HCL Technologies Limited (India), Infinity augmented reality (Israel), Intel Corporation (USA), Microsoft Corporation (USA), Samsung Electronics Ltd. (South Korea), SAP SE (Germany), and Qualcomm Inc. (USA).
Latest Industry News
- Apple has acquired a start-up called Longmont, a Colorado-based Akonia Holographics company. Longmont is focused on making lenses for augmented reality glasses. Speculations about Apple’s plans to venture into augmented reality have already started, but Apple is tight-lipped. 30 AUG 2018
Global mobile augmented reality market is estimated to grow at a CAGR of 61% over the forecast…
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