Mobile Augmented Reality Market – Global Industry Analysis and Forecast (2022-2029)

Mobile Augmented Reality Market size was valued at US$ 9.96 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 31.3% from 2022 to 2029, reaching nearly US$ 87.97 Bn.
Mobile Augmented Reality Market Overview:
Mobile Augmented Reality Market is expected to reach US$ 87.97 Bn. by 2029. A sort of mobile application that uses and enhances the phone's built-in components to deliver reality-based services and functions. This report focuses on the different segments of the Mobile Augmented Reality market (Type, Offering, Device Type, Application, and Region). The major industry players and regions are thoroughly examined in this report (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It's a thorough examination of today's quick advancements in a variety of industries. The major data analysis for the historical era from 2017 to 2021 is presented using facts and numbers, visualisations, and presentations. The market drivers, restraints, opportunities, and challenges for Mobile Augmented Reality are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Mobile Augmented Reality market.To know about the Research Methodology :- Request Free Sample Report
Mobile Augmented Reality Market Dynamics:
The Healthcare Industry Relies on Smartphone Augmented Reality.

Any medical treatment begins with a diagnosis, which demands precision. Doctors all across the world are requesting a solution that streamlines the process and reduces the risk of wrong diagnosis. An emerging answer for this is augmented reality on mobile phones. Tissue Analytics, a firm based in the United States that combines artificial data with the medical profession, is developing a mobile app that employs augmented reality in mobile phones to identify wounds and encourage proper diagnosis. This type of innovation generates a lot of interest and promotes market growth.

Video Gaming using Augmented Reality.

A game named Serious Game was launched at the 2013 International Conference on Virtual and Augmented Reality in Education, and it consisted of a virtual zoo that was effective in teaching youngsters about animals. Unity 3D and Cinema 4D were utilised in the games, and both are compatible with Android and iOS. The gaming industry is driving the demand for mobile augmented reality. The videogame industry is blossoming with games that include augmented reality in some fashion.

With Augmented Reality Maps, travel becomes easier.

In the realm of augmented reality, Google Inc. has been one of the most experimental firms in the world. AR Core, a Google platform for developing and testing augmented reality apps, has generated a slew of new applications that are altering our perceptions of the environment. One of the most prominent instances is Google Maps' augmented reality AR Visual Positioning System. To use it properly, simply hold your phone up to your eyes, and the software will use the phone camera to provide accurate directions along with pros and drawbacks. The software is designed to be used while travelling rather than while driving. This type of application is causing controversy in the market, encouraging other businesses to produce comparable but equally unique items.

The mobile augmented reality market's main challenge is a lack of consumers. Gamers and tech-savvy consumers flock to products introduced by market leaders, but they are the only ones who can be trusted. People from other domains are briefly interested in the products. One possible solution is to develop more relatable mobile applications that can help people of diverse backgrounds.
Mobile Augmented Reality Market Segment Analysis:
The Mobile Augmented Reality Market is segmented by Type, Offering, Device Type, and Application.

Based on the Offering, the market is segmented into MAR Software (AR application platforms, AR SDKs), and MAR Services (AR Design & Development, Deployment & Support Services). MAR Software (AR application platforms, AR SDKs) segment is expected to hold the largest market share of xx% by 2029. The MAR market is expected to rise due to the healthy growth of companies involved in the development of AR SDKs. Many businesses have begun to focus on MAR's enterprise applications and are looking for new business prospects. The ARCore and ARKit mobile AR SDKs built by Google and Apple, respectively, have aided in the mainstream adoption of mobile AR. The main AR apps that have been downloaded by many users are gaming and lifestyle.

Based on the Device Type, the market is segmented into Smartphones, Tablets, Personal Digital Assistants (PDAs)/Handheld Gaming Consoles, and Other Devices (Smartglasses, Wearables). Tablets segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. AR applications loaded on tablets are commonly utilised in e-commerce and marketing, gaming, and a variety of other applications. Tablets with their huge screens are ideal for location-based apps. A tablet allows the user to modify the zoom level based on the current speed and switch the screen orientation according to their orientation. Tablets overlay digital content or information onto the real world using GPS and other tracking methods. As a result, gaming apps are more commonly installed on tablets than on smart phones.

Based on the Application, the market is segmented into Consumer (Gaming, Sports & Entertainment), Aerospace & Defense, Healthcare, Commercial (Tourism & Sight-seeing, E-learning, E-commerce & Marketing), Enterprise (Manufacturing), and Others (Architecture & Building Design, Geospatial Mining). Commercial (Tourism & Sight-seeing, E-learning, E-commerce & Marketing) segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. The e-commerce and marketing industries are booming, due to the benefits it offers buyers and sellers. A buyer can compare products with AR by superimposing virtual graphics in the actual world with the use of a Smartphone or tablet camera. This not only assists a buyer in making informed judgments, but it is also beneficial to a seller. The improved shopping experience benefits the entire retail industry.
Mobile Augmented Reality Market Regional Insights:
The Asia Pacific region is expected to dominate the Mobile Augmented Reality Market during the forecast period 2022-2029. The Asia Pacific region is expected to hold the largest market share of xx% by 2029. In recent years, the emergence of many manufacturers and vendors for AR technology-based items in Japan and China has supported the region's MAR market growth. Japan, India, and China are expected to invest heavily in new technical advances as consumer and business uses rise. Because AR technology is readily available in the Asia Pacific region, its adoption in business and consumer applications has increased. The usage of augmented reality technology on smart phones and tablets has aided the region's market growth.

The objective of the report is to present a comprehensive analysis of the Global Mobile Augmented Reality Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Mobile Augmented Reality Market dynamic and structure by analyzing the market segments and projecting the Global Mobile Augmented Reality Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Mobile Augmented Reality Market make the report investor’s guide.
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Global Mobile Augmented Reality Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 9.96 Bn.


Forecast Period 2022 to 2029 CAGR:
31.3%
Market Size in 2029:
US $ 87.97 Bn.


 Segments Covered:
by Type
• Marker-based (Passive Marker, Active Marker)
• Markerless (Model-based, Image Processing-based)
• Anchor-based


by Offering
• MAR Software (AR application platforms, AR SDKs )
• MAR Services (AR Design & Development, Deployment & Support Services)


by Device Type
• Smartphones
• Tablets
• Personal Digital Assistants (PDAs)/Handheld Gaming Consoles
• Other Devices (Smartglasses, Wearables)


by Application
• Consumer (Gaming, Sports & Entertainment)
• Aerospace & Defense
• Healthcare
• Commercial (Tourism & Sight-seeing, E-learning, E-commerce & Marketing)
• Enterprise (Manufacturing)
• Others (Architecture & Building Design, Geospatial Mining)



Mobile Augmented Reality Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Mobile Augmented Reality Market, Key Players
• Google (US)
• PTC (US)
• Apple (US)
• Wikitude (Austria)
• Samsung Electronics (South Korea)
• Blippar (UK)
• MAXST (South Korea)
• Magic Leap US)
• Upskill (US)
• Atheer (US)
• Marxent Labs (US)
• Inglobe Technologies (Italy)
• Augment (France)
• Niantic (US)
• NEXT/NOW (US)
• 8ninths (US)
• Groove Jones (US)
• VironIT (US)

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Mobile Augmented Reality Market?
Ans. Asia Pacific is expected to hold the highest share in the Mobile Augmented Reality Market.

2] Who are the top key players in the Mobile Augmented Reality Market?
Ans. Google (US), PTC (US), Apple (US), Wikitude (Austria), and Samsung Electronics (South Korea) are the top key players in the Mobile Augmented Reality Market.

3] Which segment is expected to hold the largest market share in the Mobile Augmented Reality Market by 2029?
Ans. MAR Software (AR application platforms, AR SDKs) segment is expected to hold the largest market share in the Mobile Augmented Reality Market by 2029.

4] What is the market size of the Mobile Augmented Reality Market by 2029?
Ans. The market size of the Mobile Augmented Reality Market is expected to reach US $ 87.97 Bn. by 2029.

5] What was the market size of the Mobile Augmented Reality Market in 2021?
Ans. The market size of the Mobile Augmented Reality Market was worth US $9.96 Bn. in 2021.