Mobile Augmented Reality Market to Soar: Insights from the 2021-2030 Forecast

Mobile Augmented Reality (AR) Market Expected to Reach $184.61 Billion by 2030

WILMINGTON, DE, UNITED STATES, December 2, 2024 /EINPresswire.com/ -- Allied Market Research, titled, “Mobile Augmented Reality (AR) Market by Component, Device Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the global mobile augmented reality (AR) industry size was valued at $12.61 billion in 2020, and is projected to reach $184.61 billion by 2030, registering a CAGR of 31.40%. The North America region is expected to be the leading contributor to the global market during the forecast period, followed by Asia-Pacific and Europe.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/A13124

Mobile augmented reality (MAR) has emerged as the most popular and most convenient form of augmented reality, especially because of the proliferation of mobile devices. A type of mobile application that incorporates and complements built-in components in a mobile phone and provides a specialized application to deliver reality-based services and functions. Also, mobile AR uses location-based services that give us the geographical position of the mobile device. In addition, the growth of the mobile ecosystem was driven by three use cases including creative, contextual, and connected apps. These same use cases are now pushing the AR ecosystem past the initial novelty stage into creating true value for users. AR technology is widely used in fields such as education, healthcare, retail, automotive, engineering design, aerospace, and military.

Most AR capabilities have been available primarily on smartphones. The combined installed base of mobile AR devices and smart glasses could exceed two and a half billion units in the coming year, creating huge opportunities for innovative AR applications. As these devices become more ubiquitous, AR will become less of a novelty technology and form a more integral part of consumers’ everyday technology experience. These factors would create lucrative growth opportunities for mobile augmented reality (AR) market players.

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

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A13124

The global mobile augmented reality (AR) market share is segmented based on component, device type, application, and region. By component, it is divided into hardware, software, and services. The hardware segment is further sub-segmented into 3d cameras, sensors, processors, and others. By device type, it is fragmented into smartphones, tablets, personal digital assistants (PDAs), and others. Depending on the 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 the 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. The overall mobile augmented reality (AR) market analysis is determined to understand the profitable trends to gain a stronger foothold.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Mobile Augmented Reality (AR) industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐌𝐨𝐛𝐢𝐥𝐞 𝐀𝐮𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐑𝐞𝐚𝐥𝐢𝐭𝐲 (𝐀𝐑) 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

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

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. A sudden decline in infrastructure development is expected to hamper the market growth for the consumer, education, and tourism sectors.

The slowdown in production by OEMs and the reduction in demand for mobile devices and other electronic 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 delays in planned projects in various industries have hampered the global economy.

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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A13124

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

- In 2020, the hardware segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 29.70% during the forecast period.
- The smartphone segment accounted for more than 50% of the global mobile augmented reality (AR) market share in 2020.
- The enterprise segment witness the highest growth rate during the forecast period.
- The UK was the major shareholder in the Europe mobile augmented reality (AR) market revenue, accounting for approximately 26% share in 2020.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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