Global Mobile Augmented Reality (MAR) Market Report 2024: Trends, Growth, and Opportunities
The global market for Mobile Augmented Reality (MAR) is set to experience significant growth in the coming years, according to a recent report by The Business Research Company. The market size is expected to reach $27.57 billion in 2024, with a compound annual growth rate of 34.3%. This growth can be attributed to the increasing demand for immersive user experiences, the rise in app-store revenue, and the use of AR technology in various sectors.
In the forecast period, the market is projected to grow even further, reaching $90.56 billion in 2028 at a CAGR of 34.6%. This growth will be driven by factors such as the growing consumer adoption of smartphones and tablets, the integration of AR into social media platforms, and the penetration of 5G technology. Major trends in the forecast period include the development of innovative AR applications, investment in AR content creation platforms, and strategic partnerships with AR software and hardware providers.
Key players in the market include Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., and Microsoft Corporation. These companies are developing advanced solutions utilizing innovative platforms to better serve customers with advanced features. For example, Vuzix Corporation recently launched the Vuzix Z100 smart glasses, a mobile AR device designed to connect workers with AI optimization tools.
Stakeholders in the MAR market stand to benefit from comprehensive market insights, informed decision-making, and a competitive advantage. The Business Research Company offers customized reports that address specific needs and provide relevant and actionable insights. With a global perspective, stakeholders can expand and operate successfully on a global scale.
For more information on the Mobile Augmented Reality (MAR) market, including key insights and major players, visit The Business Research Company’s website. Stay updated on the latest market trends and developments by following The Business Research Company on LinkedIn, Twitter, and YouTube.
