The global mobile augmented reality market size is expected to reach USD 64.84 billion by 2028 from USD 10.01 billion in 2023, registering a CAGR of 45.3% from 2023 to 2028.
Augmented Reality is a mobile application that complements built-in components in a mobile phone and delivers reality-based services and functions. It integrates digital information with the physical environment by adding graphics, sounds, multimedia, and haptic feedback. This technology requires hardware components such as processors, sensors, displays, and input devices to process the information and provide a live experience.
Global Mobile Augmented Reality Market Drivers:
The rise in the adoption of mobile AR technology is majorly driving global market growth. For example, in instances such as in the education sector, schools and colleges are changing their traditional teaching method by using AR applications. In contrast, the healthcare industry performs surgeries with reality-augmented applications to reduce interventions and implement virtual-aided platforms for remote patients. Also, rapid growth is seen in e-commerce, where consumers use AR technology to try out products. Further, the surge in the tourism sector owing to the ready availability of information about hotels, restaurants, and flights is driving the growth of the mobile augmented reality market.
The gaming industry will witness rapid growth due to the adoption of AR technology in game development. The technology offers an interactive experience in real-time and easily runs on portable gaming devices, tablets, and smartphones. Thus, the industry will offer great opportunities and contribute to the mobile augmented reality market expansion. Other industries, such as education, retail, tourism, e-commerce, military, entertainment, and manufacturing, also provide huge opportunities for mobile AR. Further, Brands and marketers use AR technology to boost their sales using mobile AR apps. These factors are creating lucrative opportunities to expand the mobile augmented reality market.
Global Mobile Augmented Reality Market Restraints:
Limited user interfaces affecting the navigation performance of apps are majorly hampering global market growth. The smartphone offers a limited screen size and user interface. This limited access will affect the quality of augmented reality-featured navigation in the case of tourism apps and gaming ability in gaming apps. Also, the user interface in mobile systems is a bit complex compared to monitor-based AR. These factors restrain the mobile augmented reality market. Several AR apps cannot secure user identity and privacy due to inconsistencies in AR programming. As a result, consumers are resisting the adoption of technology. This is also a potential restraining factor for the mobile augmented reality market.
Impact of COVID-19 on the mobile augmented reality market:
Supply and demand mismatch was observed in several sectors as businesses were not operating at full capacity. This outbreak has an economic impact and implications on markets. Initially, shortages of components and materials, the slowdown in production, and the delay in planned projects hampered the mobile augmented reality market. During the pandemic, many retail businesses opened digitally. As a result, products with augmented reality have seen more conversion than those without technological assistance. Sectors like healthcare have performed surgeries with reality-augmented applications to reduce interventions and implemented virtual-aided platforms for remote patients. Thus, significant growth in the mobile augmented reality market is witnessed. Post-COVID, the technology gained traction owing to visualization and storytelling. For example, education, retail businesses, tourism, gaming, entertainment, and teaching segments have adopted AR technology for better assistance. These factors fuelled the mobile augmented reality market growth during COVID-19 times.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 to 2028 |
Base Year |
2022 |
Forecast Period |
2023 to 2028 |
Segments Covered |
By Type, Offering, Device Type, Application, and Region. |
Various Analyses Covered |
Global, Regional and country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Qualcomm Inc. (U.S.), SAP SE (Germany), Microsoft Corporation (U.S.), Blippar (U.K.), Infinity augmented reality (Israel), Apple Inc. (U.S.), DAQRI (U.S.), Samsung electronics Ltd. (South Korea), Google Inc. (U.S.), Elsevier (Netherlands), Intel Corporation (U.S), HCL Technologies Limited (India), CORDIS (U.S), and Catchoom technologies (Spain) and Others. |
This research report on the global mobile augmented reality market has been segmented and sub-segmented into the following categories.
Mobile Augmented Reality Market - By Component:
Based on Components, the Hardware segment is expected to record the highest market revenue during the forecast period. To cater to the increasing demand for AR devices across industries, companies like Google LLC, Apple Inc, Microsoft Corporation, and others are developing advanced products. This is driving the mobile augmented reality market.
The Software segment contributes a good market share during the forecast period. Owing to the rise in demand for smartphones, market players are focusing on upgrading smartphones, tablets, and computers by integrating AR software. The demand for AR deployments in smart devices drives the mobile augmented reality market.
Mobile Augmented Reality Market - By Device Type:
Based on device, the tablet segment is forecasted to hold the largest market revenue. The Tablet- installed AR apps are widely used and are increasing the size of the mobile augmented reality market. It is preferred due to the screen size, multiple windows, and easy navigation.
Based on the Device, Personal Digital Assistants (PDAs) segment, there is significant growth in market revenue during the forecast period. Now, all market players are providing AR-installed smart devices to support consumers' daily tasks. The AR-PDA will provide personalized user interaction with dedicated annotations to accomplish the tasks. These features are contributing to the mobile augmented reality market expansion.
Mobile Augmented Reality Market - By Application:
Based on the Application, the Consumer segment records the largest market revenue during the forecast period. The E-commerce and entertainment sectors contribute to the growth of the mobile augmented reality market. Several factors drive the market, like superimposing virtual images and 3D imaging.
Healthcare recorded significant growth in CAGR during the forecast period. In Health care, reality-augmented instruments are developed to perform fewer intervention operations and check remote patients. These new technologies are driving the growth of the mobile augmented reality market.
Mobile Augmented Reality Market – By Region:
Based on region, the Asia-Pacific is projected to grow with the largest market share during the forecast period. The booming automotive, manufacturing, gaming, and entertainment industries are fuelling the market's growth in the Asia-Pacific region. Further, the increase in usage of AR technology through smartphones, tablets, and other smart devices and growing consumer applications in India, China, and Japan has boosted the mobile augmented reality market growth.
Increased investments and rapid adoption of AR technology in this region have boosted market growth. In addition, with growing urbanization, countries like U.S. and Canada are keen on adopting AR technology to support the daily tasks of consumers. The aforementioned factors are driving the mobile augmented reality market.
KEY MARKET PLAYERS:
Companies playing a leading role in the global mobile augmented reality market are Microsoft Corporation, Samsung Electronics Co. Ltd., Blippar.Com Ltd., Google, Apple, Magic Leap, Groove Jones, Wikitude and Marxent Labs.
RECENT HAPPENINGS IN THE MARKET:
FAQ's
The Mobile Augmented reality market is expected to reach USD 97.76 billion by 2028.
The Asia-Pacific segment has the largest share based on the region as it has more manufacturing facilities.
Microsoft Corporation, Samsung Electronics Co. Ltd., Blippar.Com Ltd., Google, and Apple are the key players in the market.
The market is expected to register at a CAGR of 45.3 % from 2023 to 2028.
Limited user interface and screen size are major mobile augmented reality market restraints.
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