Mobile Augmented Reality Market is anticipated to grow USD 29.2 Billion at a CAGR of 17.76% by 2030 – Report by Market Research Future (MRFR)

Mobile Augmented Reality Market Overview:

Market Research Future has unveiled compelling insights into the worldwide mobile augmented reality (AR) market. The Mobile Augmented Reality Market is expected to grow at USD 29.2 Billion by 2030 at a CAGR of 17.76% during the forecast period from 2020 – 2030. This technology, known as mobile augmented reality, is in its ascendancy and is making innovative strides, especially in revolutionizing the consumer experience by adding an interactive and immersive dimension. AR seamlessly integrates with the natural environment, offering real-time perceptual enhancements that cater to a diverse range of consumer experiences. Anticipated results suggest that the global mobile augmented reality market is set to surge, potentially reaching a valuation of approximately USD 29.2 billion by the close of 2030.

Rapid advancements in the IT and technology sectors have sparked a revolution across various industries. Today’s smartphones and tablets boast cutting-edge mobile technology, including advanced sensors and components that enable seamless augmented reality (AR) experiences. AR is reshaping how consumers engage with businesses, enhancing their interactions in innovative ways. The landscape of AR has expanded significantly with the advent of next-generation technologies like the Internet of Things (IoT) and Artificial Intelligence (AI).

Businesses spanning retail, automotive, healthcare, entertainment, gaming, and other sectors are actively exploring ways to integrate these next-gen technologies into their operations. They seek to boost operational efficiency and create immersive customer experiences to meet the ongoing demand for advanced technological innovations. Augmented reality (AR) stands out as a technology at the forefront of this transformation, driving a surge in demand.

AR’s current development holds the potential to foster greater interactions and engagement among both employees and consumers. The widespread adoption of smartphones and personal electronic devices plays a pivotal role in propelling the global mobile augmented reality market forward. Additionally, the increased sales of wearable and hands-free devices have further bolstered the market’s growth trajectory.

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Key Players

These Mobile Augmented Reality market players use various strategies to stay one step ahead of the competition. Development of AR technology, the discovery of new applications for the technology, and mergers & acquisitions are some of the leading market strategies adopted by the above-mentioned market players.

• Apple Inc.
• Qualcomm Inc.
• Blippar
• Infinity Augmented Reality
• Google Inc.
• CORDIS
• SAP SE
• DAQRI
• Intel Corporation
• HCL Technologies Limited
• Elsevier
• Catchoom technologies
• Microsoft Corporation
• Samsung Electronics Ltd

among others are the significant market players who have been analyzed by MRFR for their role in the competitive landscape.

Scope of the Report – Mobile Augmented Reality Market:

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Market Segmentation:

MRFR’s segmental analysis of the global mobile AR market has been performed on the basis of component, applications, end-users, and region.

By component, the Mobile Augmented Reality market is divided between hardware and software. The hardware segment is sub-segmented into GPS system, 3D graphics system, wireless network, sensors, displays, and others.

By application, the market is segmented into smartphones, wearable devices, smart glasses, tablets, game consoles, and personal digital assistants.

By end-users, the market is segmented into gaming & entertainment, telecommunication, enterprises, public sectors, and others. Enterprises are further segmented into advertising, healthcare, and e-commerce. Public sectors are sub-segmented into military, education and government.

The market is also segmented on the basis of region which divides the global AR market into North America, Europe, Asia-Pacific and the Rest of the World.

Browse In-depth Market Research Report (100 Pages, Charts, Tables, Figures) Mobile Augmented Reality Market– https://www.marketresearchfuture.com/reports/mobile-augmented-reality-market-1048

Industry News

Jaunt Inc. is thrilled to announce its triumphant acquisition of Personify, a company renowned for its cutting-edge “teleporter” technology in the realm of augmented reality (AR) 3D streaming. This strategic maneuver has been carefully orchestrated to propel the evolution of AR technology, with the ultimate goal of delivering a profoundly immersive experience to consumers.

Meanwhile, in the charming town of Fairborn, located in the United States, a dynamic collaboration has emerged. The local authorities have joined forces with the esteemed software development firm, Mile Two, to craft an engaging AR mobile game. This innovative creation is poised to serve as a catalyst for boosting tourism in the area, promising an exciting and interactive adventure for visitors and locals alike

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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.

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