An Incisive, In-depth Analysis on the Mobile Augmented Reality Market
This study offers a comprehensive, 360 degree analysis on the Mobile Augmented Reality market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Mobile Augmented Reality market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Mobile Augmented Reality Market - Key Research Findings
- The global mobile augmented reality market size to be worth US$ 3 Bn in 2020
- Travel and tourism to see a rise of 24.4% between 2020 and 2030 as the museums and artists seek to reach wider audiences
- Digital transformation in armed forces leads to adoption of mobile AR as warfare gets sophisticated, to register a CAGR of 21.4% from 2020-2030
- Europe and East Asia to lead global mobile augmented reality market, collectively accounting for 50% of the market by 2030
- Skyrocketing demand for online games amidst pandemic to create a massive stream of revenue for mobile augmented reality
- Healthcare and education to emerge as key application areas, assuming about a quarter in the overall market share
5G Penetration to Fuel Mobile Augmented Reality Market
Deployment of 5G technology that comes with a promise of no latency and high-quality videos is expected to result in high adoption of advanced technologies such as augmented reality & virtual reality (AR/VR), and Internet of Things (IoT).
The implementation of 5G connectivity and development of the required infrastructure are expected to boost the adoption of mobile augmented reality technology as it is likely to make digital experiences better. However, its affordability remains questionable for now.
Mobile Augmented Reality is the New Reality of Social Media and Gaming
Every alternate smartphone user is already using mobile augmented reality, either in the form of a character filters, viewing interactive advertisements or playing games.
Social media applications such as snapchat and many more offer allow users to play around with camera filters, which has been the unique value proposition of such smartphone applications. Over 350 million active users of snapchat is a testament of consumer’s inclination towards mobile augmented reality.
Success of Pokémon GO is another evidence that consumers would like to experience the next generation of entertainment in the form of augmented reality. However, such developments works in smartphone gaming industry has gone on standstill mode with only a few games available with mobile augmented reality capability.
Albeit, leading mobile phone OS provider Google and Apple have already introduced platform aimed to enable developers to build user accepted mobile augmented reality experiences.
Mobile augmented reality is not only catching the attention of smartphone users but have also garnered sizable interest from investors. Consumer-facing mobile augmented reality market has the potential to grow five folds over the span of next five year says FMI.
Since, success of such products and services are determined by GenX and GenY population group, the subscriber base of mobile phone application that offers augmented reality feature sum up the story by creating a space in the smartphone of over 70% of such population group.
Improved Consumer Engagement While Shopping Prompts Uptake of Mobile AR
Mobile AR is expected to become an integral part of a consumers shopping experience in the coming years. Furniture retailers are making excellent use of this technology to give the consumers an actual experience of their purchases through simulations. Availability of this technology at the fingertips is expected to offer quick solutions to frequently asked questions about size, dimension, and color of furniture pieces while shopping.
Ever since the release of ARkit by iOS and Tango by Google, the furniture shopping experience has been improved as mobile AR has truly crossed language barriers, personalized the experience, and entertained consumers. All of these features have upped the adoption of mobile AR across interior designing communities such as Houzz and furniture selling stores such as IKEA.
Mobile AR Rushes to Build Consumer Confidence by Enabling Visualization of Purchases
A similar trend has been observed amidst retailers selling via online stores. The ability to preview products, understand their measurement, and look before purchase has immensely won the mobile AR market a steady clientele. According to 35% of users, mobile AR encourages them to shop online more. Sephora, a cosmetic giant, has successfully capitalized on this opportunity by allowing its users to visualize their purchases, making the consumer confident about their choices.
As the world shifts to a new normal, characterized by strict social distancing norms, it is likely that e-commerce will replace brick and mortar shops, giving mobile AR tremendous scope to cash in on this opportunity of persuading users to shop online.
Automotive Sector Promises Excellent Opportunity to Mobile Augmented Reality
Augmented reality plays a critical role in the automotive engineering, lending a unique insight into design and manufacturing. Car manufacturers have used AR for car interiors and maintenance. The sector is now realizing the potential benefits of mobile AR, and is developing enhanced safety for driver by contributing to development of holographic AR display.
Constant efforts to improve navigation and safety is projected to accelerate the adoption of mobile AR in the automotive sector. Companies focusing on creating new in-vehicle experiences are likely make mobile AR an integral part of their design in the coming years.
Increasing Mobile Augmented Reality Technology for Healthcare Applications
Percolation of technological advancements have been inevitable in recent years. Healthcare sector too has adopted by transformational technologies such as mobile AR to reach out to a wider patient pool.
Adoption of mobile AR in healthcare allows consultation and diagnostic from miles away, making healthcare reach remotest parts of the world. With access to real-time data and patient information over cloud, understanding medical conditions, their progression, and timely intervention have been possible.
AR has brought in significant value to healthcare education as well. It has given students and trainee physicians to visualize healthcare issues, adding a new dimension to learning. With access to smartphones and tablets, both patients and physicians can ensure timely life-saving. In the light of these observations, the healthcare segment is expected to acquire a share of 15.6% in the global mobile augmented reality market by the end of 2030.
East Asia is Projected to Grow at over 30% Annual Growth
North America and Europe dominate the mobile augmented reality market as these regions have had early movers advantage. Presence of pioneering companies has also added to this status. Development of automotive technology such as driverless cars and holographic prompts for navigation have definitely added to the upward trend of these regional markets.
The booming online gaming industry in these regions has also fuelled their dominance in recent years. Access to better equipment and enhanced connectivity have contributed to a steady uptake of mobile augmented reality in these regions.
Similar trends are taking shape in East Asia as smartphones and tablets become ubiquitous to everyday lives. Growing interest of e-tailing companies in ramping up their consumer experience is projected to favour uptake of mobile AR. In China, companies are already running marketing campaigns via augmented reality experiences.
Furthermore, the sudden jump in online gaming numbers and shift of traditional schooling methods to virtual spaces are expected to give this regional market a shot in the arm.
North America and East Asia will emerge as the leading regions in the mobile augmented reality market by 2030 as the adoption of advanced augmented reality technology surges in various sectors.
The gaming, and the entertainment sector has been increasing significantly due to factors such as increasing usage of smartphones, online shopping, and rising expenditure on entertainment.
Startups are also ready to experiment with innovative ideas and are thinking of offering new solutions for augmented reality to enhance their user experience.
VR Vision Inc. is an AR/VR developer based in Toronto, has provided an impactful and innovative experience to the users by using AR and VR technologies.
The advancement of 5G technology in augmented reality is propelling the forethought of the market. The deployment of a 5G mobile network takes into consideration higher flexibility in wide range of use cases. The 5G technology makes augmented reality technology much faster, with much more data flows, which would increase the demand for mobile augmented reality solutions
Leading Mobile Augmented Reality Solutions Vendors:
- Samsung Electronics Co. Ltd.
- Google Inc.
- Microsoft Corporation
- Intel Corporation
- Apple Inc.
- Micro Focus
- Qualcomm Inc.
- Daqri LLC
- Wikitude GmbH
- Metaio GmbH
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with competition deep dive available in the report
Immersive Opportunities in the Years to Come
The future of mobile augmented reality is bright, as apart from commercial and industrial application – the technology is also gaining traction from academia. Power to educate via 3D design will make mobile AR one step ahead of conventional learning methods.
Its value to architects will also be immense as tools such as Google Street View will open doors to research through virtual tours. The demand for mobile AR is expected to see a whopping rise as world moves to a virtual reality amidst the ongoing pandemic. As several organizations mull permanent closures, mobile AR will serve as an incredible tool for connecting employees for learning and executing ideas
Mobile Augmented Reality Market: Global Industry Analysis 2015-2019 and Opportunity Assessment 2020-2030
A recent market report published by Future Market Insights on the mobile augmented reality market includes global industry analysis for 2015-2020 and opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical and current growth parameters, growth prospects of this market are obtained with maximum precision.
Mobile Augmented Reality Market: Segmentation
The global mobile augmented reality market is segmented in detail to cover every aspect of the market, and present a complete market intelligence approach to readers.
Chapter 01 – Executive Summary
The report begins with the executive summary of the mobile augmented reality market, which includes a summary of key findings and statistics of the market. It also includes demand- and supply-side trends pertaining to this market.
Chapter 02 – Market Overview
Readers can find the definition and a detailed taxonomy of the mobile augmented reality market in this chapter, which will help them to understand basic information about the market. Along with this, comprehensive information pertaining to storage area network and its properties are provided in this section. This section also highlights mobile augmented reality market report.
Chapter 03 – Key Market Trends
The mobile augmented reality market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed industry trends are also provided in this section.
Chapter 04 – COVID-19 Pandemic Impact Analysis
This chapter explain the impact of COVID-19 pandemic crisis on mobile augmented reality market. Moreover, in depth information about future and current impact of COVID-19 pandemic on mobile augmented reality market.
Chapter 05 – Market Structure Analysis
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the mobile augmented reality market, along with their market presence analysis by region and product portfolio.
Chapter 06 – Global Mobile Augmented Reality Market Demand Analysis 2015-2019 & Opportunity Assessment 2020-2030
This section explains the global market value analysis and forecast for the mobile augmented reality market between the forecast periods of 2020-2030. This chapter includes a detailed analysis of the historical mobile augmented reality market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2020), and an incremental $ opportunity for the forecast period (2020-2030).
Chapter 07 – Market Background
This chapter explains the key macroeconomic factors that are expected to influence growth of the mobile augmented reality market during the forecast period. Along with macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, and value chain analysis of the mobile augmented reality market. Moreover, in-depth information about market dynamics and their impact analysis on the market have been provided in the successive section.
Chapter 08 – Global Mobile Augmented Reality Market Analysis 2015-2019 and Opportunity Assessment 2020-2030, by Solutions
Based on solutions, the mobile augmented reality market is segmented into mobile AR software, and services. In this chapter, readers can find information about developments and key trends in the mobile augmented reality market.
Chapter 09 – Global Mobile Augmented Reality Market Analysis 2015-2019 and Opportunity Assessment 2020-2030, by Application
Based on Application, the mobile augmented reality market is segmented, military, education, healthcare, gaming, media & entertainment, travel & tourism, and others. In this chapter, readers can find information about developments and key trends in the mobile augmented reality market.
Chapter 10 – Global Mobile Augmented Reality Market Analysis 2015-2019 and Opportunity Assessment 2020-2030, by Region
This chapter explains how the mobile augmented reality market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia Pacific, and Middle East & Africa.
Chapter 11 – North America Mobile Augmented Reality Market Analysis 2015-2019 and Opportunity Assessment 2020-2030
This chapter includes a detailed analysis on the growth of the North America mobile augmented reality market, along with a country-wise assessment including the U.S. and Canada. Readers can also find regional trends and market growth based on solutions, application, and countries in North America.
Chapter 12 – Latin America Mobile Augmented Reality Market Analysis 2015-2019 and Opportunity Assessment 2020-2030
This chapter provides the growth scenario of the mobile augmented reality market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.
Chapter 13 – Europe Mobile Augmented Reality Market Analysis 2015-2019 and Opportunity Assessment 2020-2030
Important growth prospects of the mobile augmented reality market in several countries such as Germany, the U.K., France, Spain, Italy, BENELUX, and Russia are included in this chapter.
Chapter 14 – East Asia Mobile Augmented Reality Market Analysis 2015-2019 and Opportunity Assessment 2020-2030
This chapter provides the growth scenario of the mobile augmented reality market in East Asia countries such as China, Japan, and South Korea.
Chapter 15 – South Asia & Pacific Mobile Augmented Reality Market Analysis 2015-2019 and Opportunity Assessment 2020-2030
This chapter highlights the growth prospects of the mobile augmented reality market in South Asia Pacific by focusing on India, ASEAN, and Australia & New Zealand. This section also helps readers understand key factors that are responsible for the growth of the mobile augmented reality market in Asia Pacific Excluding Japan.
Chapter 16 – Middle East and Africa Mobile Augmented Reality Market Analysis 2015-2019 and Opportunity Assessment 2020-2030
This chapter provides information about how the mobile augmented reality market is anticipated to grow in major countries in the Middle East & Africa region, such as GCC Countries, Turkey, and South Africa during the forecast period.
Chapter 17 – Key Countries Analysis
This chapter provides information about how the mobile augmented reality market is anticipated to grow in major countries such as U.S., Canada, Mexico, Brazil, Germany, France, Italy, Spain, U.K., BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, and South Africa during the forecast period.
Chapter 18 – Competition Analysis
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the Mobile Augmented Reality market, along with detailed information about each company, which include the company overview, revenue shares, strategic overview, and recent developments. Some market players featured in the report are Samsung Electronics Co. Ltd., Google Inc., Microsoft Corporation, Intel Corporation, Apple Inc., Micro Focus, Amazon, Qualcomm Inc., Daqri LLC, Wikitude GmbH, Metaio GmbH, Catchoom Technologies, Atheer Inc. and Blippar.Com Ltd.
Chapter 19 – Assumptions and Acronyms Used
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the mobile augmented reality market report.
Chapter 20 – Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, about the mobile augmented reality market.
Sources and Primary Research Splits (%)