Introduction to Mobile Augmented Reality
The global marketplace for Mobile Augmented Reality (MAR) is estimated to have been price $9.7 billion in 2022. It is projected to achieve $74.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 29.1% over the evaluation period of 2022-2030. This significant growth is driven by the increasing use of mobile devices and the expanding applications of augmented reality in various industries.
Market Segments and Growth
The software segment of the MAR market is projected to record a 25.5% CAGR and reach $40.2 billion by the top of the evaluation period. The services segment, bearing in mind the continued post-pandemic recovery, is readjusted to a revised 35% CAGR for the subsequent 8-year period. These segments are crucial for the event and implementation of MAR solutions across different sectors.
Regional Market Outlook
The U.S. market is estimated at $2.8 billion, while China is forecast to grow at a 28% CAGR. Japan and Canada are each forecast to grow at 25.9% and 25.3%, respectively, over the 2022-2030 period. Within Europe, Germany is forecast to grow at roughly 20.3% CAGR. These regional growth rates indicate the worldwide spread and potential of MAR technology.
Key Competitors
The MAR market incorporates a range of competitors, including Apple Inc., Augmensys GmbH, Augment, Augmented Pixels Inc., Blippar, Catchoom Technologies, DAQRI, Google Inc., Gravity Jack, Hunter Research and Technology, LLC, LM3LABS Corp., Marxent Labs LLC, Mollejuo Software, Inc., Mybrana Network S.L., Niantic, Inc., Occipital Inc., Seabery Augmented Technology, Snap, Inc., ViewAR GmbH, VividWorks Ltd., Wikitude GmbH, and Zappar Ltd. These corporations are driving innovation and adoption within the MAR space.
What’s New for 2023?
Special coverage includes the impact of the Russia-Ukraine war, global inflation, the easing of zero-Covid policy in China, supply chain disruptions, global trade tensions, and the danger of recession. The report also provides global competitiveness and key competitor percentage market shares, market presence across multiple geographies, online interactive peer-to-peer collaborative bespoke updates, access to digital archives and the Research Platform, and complimentary updates for one 12 months.
Key Attributes of the Report
- No. of Pages: 229
- Forecast Period: 2022 – 2030
- Estimated Market Value (USD) in 2022: $9.7 Billion
- Forecasted Market Value (USD) by 2030: $74.8 Billion
- Compound Annual Growth Rate: 29.1%
- Regions Covered: Global
Market Trends and Drivers
The growth of the MAR market is driven by several trends and drivers, including the proliferation of mobile devices, advancements in technology reminiscent of markerless augmented reality and cloud computing, and the increasing adoption of MAR in industries like retail, gaming, and education. The development of smart glasses and the combination of MAR with the Internet of Things (IoT) and Industry 4.0 are also expected to spice up market prospects.
Conclusion
The Mobile Augmented Reality market is poised for significant growth over the subsequent few years, driven by technological advancements, increasing adoption across industries, and the expanding use of mobile devices. As the market continues to evolve, we are able to expect to see more modern applications of MAR, resulting in enhanced user experiences and latest business opportunities. The way forward for MAR looks promising, with its potential to remodel various elements of our lives, from entertainment and education to commerce and healthcare.
