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2021
Mobile Augmented Reality (ar) Market

Mobile Augmented Reality (AR) Market

by Component (Hardware, Software, and Services), Device Type (Smartphones, Tablets, Personal Digital Assistants (PDAs), and Others), and Application (Consumer, Healthcare, Enterprise, Commercial, Aerospace & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Update Available On-Demand

Report Code: A13124
Pages: 310
Aug 2021 | 3188 Views
Author(s) : Avinash Savekar , Vineet Kumar
Tables: 123
Charts: 74
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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The global mobile augmented reality (AR) market size is expected to reach $184.61 billion by 2030 from $12.61 billion in 2020, growing at a CAGR of 31.40% from 2021 to 2030.  

The Enterprise industry impacted negatively, due to COVID-19 Pandemic.

Mobile augmented reality is one of the most explosive growth areas for AR applications currently. Mobile AR takes advantage of the widely distributed base of hardware such as smartphones and tablets. Mobile devices that can support AR are becoming more powerful and less expensive at a very rapid pace. Additionally, new hardware possibilities are emerging, such as mobile projection devices that will allow new types of mobile AR applications.  

Mobile-Augmented-Reality-(AR)-Market,-2021-2030

In addition, mobile AR enables certain type of health interventions that can be deployed anywhere the patient is located and at various times. Mobile technologies are an increasingly promising platform for health interventions because they are attractive and familiar to patients and because of their ubiquity. Also, AR technology is more cost efficient than virtual reality and other comparable mobile emerging technologies because many patients already have these devices. All of these factors can increase the adoption of AR applications and the self-efficacy of patients to engage with these interventions. 

Moreover, with the continuous and rapid advancements in the technology sector, AR applications have emerged as a medium that allows companies to interact with consumers in an innovative and easy method. AR has been defined as a visualization technique that superimposes computer-generated data, such as text, video, graphics, GPS data, and other multimedia formats on top of the real-world view, as captured from the camera of a computer, mobile phone, or other devices. Augmented reality is the reality of the future educational system. Technology is already a significant factor impacting the education sector with digital content, smart classrooms, and online assessments. Schools and colleges are changing their traditional methods of teaching with the use of AR applications. 

The global mobile augmented reality (AR) market size is anticipated to witness significant growth during the forecast period. Factors, such as high usage of Mobile AR in healthcare industry, rapid growth of the retail industry, and surge in adoption of AR technology by tourism and education sector drive the mobile augmented reality (AR) market growth. Using AR applications in the tourism sector, will become inevitable for companies to remain competitive in this business. In the tourism sector, AR application possesses great capabilities by improving the tourist experience and providing important information to tourists. Also, implementing new technologies such as AR will empower students and teachers to explore and learn more effectively. Nowadays, several companies worldwide are using augmented reality to provide better learning and training experience in education sector. 

However, limited user interface affecting navigation performance of AR apps is a major restraint to the global market growth. In addition, rising adoption of AR smart glasses is expected to create opportunities for the mobile augmented reality (AR) industry. 

The global mobile augmented reality (AR) market share is segmented on the basis of component, device type, application, and region. By component, it is divided into hardware, software, and services. The hardware segment further sub segmented into 3d camera, sensors, processor, and others. By device type, it is fragmented into smartphones, tablets, personal digital assistants (PDAs), and others. Depending on application, it is separated into consumer, healthcare, enterprise, commercial, aerospace & defense, and others.    

Region-wise, the mobile augmented reality (AR) market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Taiwan, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to grow at a highest CAGR during the forecast period, due to an increasing adoption of mobile AR for different applications such as healthcare, education, tourism, and e-commerce sectors.  

Mobile Augmented Reality (AR) Market
By Component

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Services segment is projected as one of the most lucrative segments.

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Top Impacting Factors

The prominent factors that impact the mobile augmented reality (AR) market growth are high usage of Mobile AR in healthcare industry, rapid growth of the retail industry, and surge in adoption of AR technology by tourism and education sector. However, Limited user interface affecting navigation performance of AR apps restricts the market growth. On the contrary, rising adoption of AR smart glasses is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect global mobile augmented reality (AR) industry during the forecast period.   

Competition Analysis

Competitive analysis and profiles of the major mobile augmented reality (AR) market players, such as Qualcomm Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., Blippar.Com Ltd., Google, Apple, Magic Leap, Groove Jones, Wikitude, and Marxent Labs, are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications.

Mobile Augmented Reality (AR) Market
By Application

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Consumer segment is expected to secure leading position during forecast period.

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Covid-19 Impact Analysis

The COVID-19 pandemic has significantly impacted global economies, resulting in workforce & travel restrictions, supply chain & production disruptions, and reduced demand & spending across many sectors.

Sudden decline in infrastructure development is expected to hamper the market growth for consumer, education, tourism sector. 

The slowdown in productions by OEMs and reduction in demand for mobile devices and other electronics devices has slightly pulled down the market for mobile AR. Shortages of components and materials have significantly impacted the global supply chains. In addition, reductions in various budgets and delay in planned projects in various industries have hampered the global economy.  

However, post-COVID-19, the AR technology is gaining slight traction owing to its benefits in visualization, annotation, and storytelling. AR technologies are aiding online learning and also offering access to cultural events, which is helping users to overcome the isolation of lockdowns. Several countries such as China, Japan, South Korea, and India are also expecting quick control over the outbreak, following a pre-emptive response in the form of lockdowns and social distancing. 

Moreover, as vaccines roll out across the globe and the pandemic situation is better controlled, especially in North America and Europe. This would boost the recovery of the mobile augmented reality (AR) market.  

Mobile Augmented Reality (AR) Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific region would exhibit the highest CAGR of 32.80% during 2021-2030

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Key Benefits For Stakeholders

  • This study comprises analytical depiction of the global mobile augmented reality (AR) market outlook along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall mobile augmented reality (AR) market analysis is determined to understand the profitable trends to gain a stronger foothold. 
  • The report presents information related to key drivers, restraints, and mobile augmented reality (AR) market opportunities with a detailed impact analysis.  
  • The current mobile augmented reality (AR) market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.   
  • Porter’s five forces analysis illustrates the potency of the buyers and the mobile augmented reality (AR) market share of key vendors.   
  • The report includes the market trends and the revenue share of key vendors.

Key Market Segments

By Component

  • Hardware        
  • 3D Camera    
  • Sensors
  • Processor        
  • Others            
  • Software     
  • Services     

By Device Type

  • Smartphones
  • Tablets
  • Personal Digital Assistants (PDAs)
  • Others

By Application

  • Consumer
  • Healthcare
  • Enterprise
  • Commercial
  • Aerospace & Defense
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East 
    • Africa

Key Players

  • Qualcomm Inc.
  • Microsoft Corporation
  • Samsung Electronics Co. Ltd.
  • Blippar.Com Ltd.
  • Google
  • Apple
  • Magic Leap
  • Groove Jones
  • Wikitude
  • Marxent Labs 
 

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According to the insights of the CXOs of leading companies, the mobile augmented reality (AR) market holds high potential in the retail, and tourism, e-commerce industry. Factors, such as high usage of Mobile AR in healthcare industry, rapid growth of the retail industry, and surge in adoption of AR technology by tourism and education sector drive the mobile augmented reality (AR) market growth. Several companies in this industry adopt various innovative techniques to provide customers with advanced and innovative features. However, limited user interface affecting navigation performance of AR apps is a major restraint to the global market growth. In addition, rising adoption of AR smart glasses is expected to create opportunities for the mobile augmented reality (AR) industry

Asia-Pacific is expected to at a highest CAGR during the forecast period, due to an increasing adoption of mobile AR for different applications such as healthcare, education, tourism, and e-commerce sectors. Also, high adoption of advance technologies in retail industry offer growth opportunities for mobile augmented reality (AR) market. In addition, North America was the largest contributor, in terms of revenue, and is expected to witness a significant growth during the forecast period.

The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch, agreement, collaboration, and partnership are expected to be the prominent strategies adopted by the market players.

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