Global Mobile Augmented Reality Market, By Component (Hardware, Software), Applications (Smartphones, Smart Glasses & Wearable, Tablets), End-User (Telecommunication, Gaming & Entertainment) – Forecast Till 2027
Industry News
Microsoft’s Dynamics 365 Remote Assist on HoloLens can enable collaboration among teams and supports live annotation for faster comprehension of challenges. This can be used by emergency rescue workers, enterprises, and government agencies for collaborating over long distances.
Market Highlights
Mobile augmented reality is the juxtaposition of virtual objects in the actual world. Fame of cell phones and the open-source nature of Android has driven the deals of mobile telephones and extended the extent of mobile augmented reality. Marker and markerless are two significant sorts of the technology at present utilitarian in the business. The Mobile Augmented reality market is anticipated to emanate a CAGR of around 17.76% from 2020 to 2030. MRFR gives a far reaching examination of reports of significant ventures by evaluating market dynamic factors against miniature and macroeconomic pointers.
Market Scope
The global mobile augmented reality market is probably going to top over the forecast period. This is ascribed to steps in advancements of web of things, man-made reasoning, and following. The developing retail industry as well as ascent of web based shopping can together give degree to the market. Retailers can show the usefulness of items without compromising the bundling or quality. The utilization of mobile AR for driving deals of items and overcoming any issues among clients and web based shopping can look good for the market.
The COVID-19 pandemic is an aid to the mobile AR market attributable to the utilization of the technology for facilitating internet learning. For example, clinical understudies of Case Western Reserve University, Ohio, U.S., are involving HoloLens and HoloAnatomyAccess for achieving their clinical trainings from the bounds of their homes. Openness to occasions and encounters and its impact can be enhanced during the time of development limitations. Travel services are offering on the web virtual visits to clients through this technology.
Be that as it may, the exactness of sensors and utilization of battery of cell phones are difficulties confronting the global market.
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Segmentation:
By component, the market is segmented into hardware and software. By hardware, it is sub-segmented into displays, sensors, 3D graphics system, GPS system, wireless network, and others. The software segment is deemed to drive the market demand owing to development of AR software development kits. New opportunities in gaming and lifestyle are likely to push the segment demand. On the other hand, the sensors sub-segment in the hardware segment can capture a large market share owing to improvements in tracking. Correction software ingrained in sensors for accurately pinpointing objects as well as faster computing power can drive the demand.
By application, the global mobile augmented reality market is segmented into game consoles, smartphones, smart glasses and wearable, personal digital assistants, and tablets. Smart glasses and wearable segment is estimated to drive the maximum demand in the coming years. This is attributed to increasing improvements in smart glasses and present dependence on wearables for being attuned to latest updates.
The end users of the market are public sectors (education, government, military), telecommunication, gaming & entertainment, enterprises (E-commerce, advertising and healthcare), and others. Enterprises are likely to gain the major market share due to scope in advertising and retail sectors.
Regional Analysis
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are major regions covered for outlining the prospects of the global mobile augmented reality market.
Among them, North America can dominate the market over the forecast period owing to investment in AR and proliferation of smart devices. The U.S. and Canada are key contributors of the region owing to a huge penetration rate of smartphones. Ease of work as well as high entertainment value provided to customers can drive the market expansion in the region.
APAC is expected to be lucrative for the mobile augmented reality market owing to presence of various vendors of AR hardware in China and Japan. Investments in technology as well as consumption of mobile applications can drive the regional market growth. Presence of smartphone manufacturers as well as tax breaks provided by governments can drive the market growth.
Competitive Scope
Google Inc., Microsoft Corporation, Apple Inc., Intel Corporation, SAP SE, CORDIS, Elsevier, DAQRI, Catchoom Technologies, Blippar, Qualcomm Inc., Samsung Electronics Ltd., Infinity augmented reality, and HCL Technologies Limited are prominent players of the global mobile augmented reality market. Among these, Blippar, Microsoft, Google, Qualcomm, and Samsung Electronics have captured a major market share. Rollout of internet of things services and products encouraging AR are the main strategy of these players.
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