Mobile Augmented Reality Market with COVID-19 Impact Analysis by Device Type, Offering, Application, and Region - Global Forecast to 2025 - ResearchAndMarkets.com

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The "Mobile Augmented Reality Market with COVID-19 Impact Analysis by Device Type (Smartphones, Tablets, PDAs), Offering (Software, Services), Application (Consumer, Healthcare, Enterprise, Commercial), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Mobile Augmented Reality (AR) Market is Projected to Grow from USD 7.6 Billion in 2020 to USD 29.5 Billion by 2025; it is Expected to Grow at a CAGR of 31.1% from 2020 to 2025.

With the rising use of smartphones and AR browsers, consumers are gradually accepting this human-computer interaction (HCI), and mobile augmented reality is gaining attention in terms of further research. The rise in demand for mobile AR from the retail sector to enhance the consumers shopping experience, an increase in online gaming activities during COVID-19 pandemic and a surge in the adoption of AR technology by travel & tourism and education sector are the key factors driving the market growth.

Mobile augmented reality software apps and SDKs are expected to grow at a high CAGR during the forecast period

AR application platforms enable users to create AR images by providing them easy interface; for instance, an AR creation platform named Aurasma is a simple, drag-and-drop AR creation studio that allows users to augment images with digital content. Mobile AR application platforms are easy to learn and are basically used for classroom applications. These platforms are also used for smaller projects with simple multimedia overlays, such as images or short videos but have their own limitations. These platforms leave the AR creator with no control over the design of the application interface. Moreover, software development kit (SDK) is a set of software development tools that allows the creation of applications for a particular software package, software framework, hardware platform, and operating system.

Consumer application is expected to maintain its market dominance during the forecast period

The consumer application includes gaming and entertainment applications wherein mobile AR apps are useful in creating 3D virtual objects in the real world. The mobile augmented reality technology offers remarkable results regarding visual effects when used in gaming and sports broadcasts. The demand for AR apps in video games and gaming consoles is very high. These apps give a 3D view of virtual objects in the real world. Therefore, users can play a game in the real environment.

North America holds a significant share of the market in 2020

Key players in the MAR market, such as Google (US), PTC (US), and Apple (US), are based in North America, which is the key factor contributing to the growth of the MAR market in the region, along with the rising adoption of new technologies by companies based in the region to simplify industrial operations.

The MAR market in the Asia Pacific is expected to grow at a high rate for applications such as healthcare, commercial, industrial, and consumer. The increasing number of players that develop mobile apps in the region would support the growth of the MAR market. In the Asia Pacific, this market is majorly driven by the growing number of internet users in China and India with the rapid development of high-speed broadband networks and mobile devices. This growth opens avenues for AR technology, which provides 3D visualization of information merged in real-time using smartphones and tablets.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the mobile augmented reality market space.

Market Overview

Evolution of Augmented Reality Technology

Market Dynamics

Drivers

  • Increase in Online Gaming Activities During COVID-19 Pandemic

  • Rise in Demand for Mobile AR from Retail Sector to Enhance Consumers' Shopping Experience

  • Surge in Adoption of AR Technology by Travel & Tourism and Education Sectors

Restraints

  • Limited Processing Power and Storage Capacity

  • Limited User Interface Affecting Navigation Performance of AR Apps

Opportunities

  • Increased Demand for AR Technology from Automotive Sector

  • Unique Value Proposition Through Social Media Apps

  • High Focus of Armed Forces on Digitalization, Along with Rise in Demand from Aerospace Industry

Challenges

  • Social and Privacy-Related Issues Impacting Adoption Rate

  • Requirement to Reconfigure and Redesign AR Apps for Different Platforms and Applications

Pricing Analysis

Mobile Augmented Reality Market: Case Studies

  • Mobidev Created AR App to Increase Customer Engagement

  • Ruffles Could Increase Sales with AR Game - Amigo

Regulatory Landscape

Patent Analysis

Companies Mentioned

  • 8Ninths Inc.

  • Appentus Technologies

  • Apple

  • Atheer Inc.

  • Augment

  • Bidon Games Studio

  • Blippar

  • Craftars

  • Eon Reality

  • Google, Inc.

  • Groove Jones

  • HQsoftware

  • Inde

  • Inglobe Technologies

  • Magic Leap, Inc.

  • Marxent Labs, LLC

  • Maxst

  • Next/Now

  • Niantic

  • PTC Inc.

  • Samsung Electronics

  • Scanta

  • Scope AR

  • Talepspin

  • Upskill

  • Vironit

  • Wikitude GmbH

  • Zappar

For more information about this report visit https://www.researchandmarkets.com/r/qn8b6k

View source version on businesswire.com: https://www.businesswire.com/news/home/20201030005352/en/

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