Pune, India, Sept. 11, 2018 (GLOBE NEWSWIRE) -- Market Research Future’s report on the Global Mobile Augmented Reality Market, By Component (Hardware, Software), Applications (Smartphones, Smart Glasses & Wearable, Tablets), End-User (Telecommunication, Gaming & Entertainment) - Forecast Till 2023
Widening Application Scope to Increase Demand for Mobile Augmented Reality Technology
Market Research Future has disclosed several significant market figures of the global mobile augmented reality (AR) market including a promising and highly impressive CAGR of 61% during the forecast period of 2017 to 2023. Mobile augmented reality is an emerging technology which is finding novel applications particularly in making the consumer experience interactive and immersive. AR is used to enhance natural environments or offer a perceptual change in realtime to offer a variety of experiences to the consumer. The considerable growth of the global mobile augmented market is anticipated to reach and estimated evaluation of USD 70 Bn by the end of 2023.
Advancements in the IT sector and technology have had transformative effects across various industry verticals. Most smartphones and tablets now come equipped with the latest in mobile technology such as sensors and other components to make devices AR-friendly. AR allows consumers the opportunity to interact in novel ways with business organizations, thus maximizing their experience. With the emergence of next-gen technology such as internet of things (IoT), artificial intelligence (AI) the scope of application for AR has widened considerably. Organizations across retail, automotive, healthcare, entertainment, gaming, and other sectors are seeking out ways to involve next-generation technology in business processes for the purpose of operational efficiency or interactive customer experiences as there is a consistent demand for advanced technological innovations. AR is one such technology being employed extensively, thus encouraging demand. The present development of AR technology has the ability to increase employee and consumer interactions & participation supportively. The high penetration of smartphones and other personal electronic devices are important contributors to the growth of the global mobile augmented reality market. Moreover, the increased sales of wearable and hands-free devices have further impacted the market in a positive manner.
Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/1048
Notably, the mobile AR market is restrained by a lack of awareness of AR in developing economies and the high costs associated with the development of advanced AR. However, Increasing the affordability of smartphones, the growing integration of necessary technology, rising adoption of 3D cameras and huge ongoing investment activities are expected to yield multiple avenues for growth during and beyond the forecast period.
Market Segmentation
MRFR's segmental analysis of the global mobile AR market has been performed on the basis of component, applications, end-users, and region. By component, the Mobile Augmented Reality market is divided between hardware and software. The hardware segment is sub-segmented into GPS system, 3D graphics system, wireless network, sensors, displays, and others. By application, the market is segmented into smartphones, wearable devices, smart glasses, tablets, game consoles, and personal digital assistants. By end-users, the market is segmented into gaming & entertainment, telecommunication, enterprises, public sectors, and others. Enterprises are further segmented into advertising, healthcare, and e-commerce. Public sectors are sub-segmented into military, education and government.
The market is also segmented on the basis of region which divides the global AR market into North America, Europe, Asia-Pacific and the Rest of the World.
Presence of Tech Giants & Consumption Pattern Propels North America To The Top
North America includes the U.S, Canada & Mexico, with the U.S being a significant country in the region. North America accounts for the largest regional segment in the Mobile Augmented Reality Market due to the presence of developed countries which have high investments in the production of smart devices and widening scope of applications of augmented reality, particularly in the gaming & entertainment industry. Moreover, the region enjoys a superior mobile network infrastructure and has a high affinity for the adoption of advanced technology. A high concentration of leading market players and tech giants in the region such as Google, Apple, and Microsoft are expected to keep the region at the forefront of innovation over the forecast period.
Meanwhile, the Asia Pacific is anticipated to grow at the highest CAGR due to the presence of an expanding consumer population which is adopting advanced technology. The penetration of smartphones in the region has proven to be ubiquitous which has been encouraging for organizations looking to adopt innovative technology for customer interaction. Rising disposable incomes and rapid urbanization have assisted in increased awareness of AR and as a result the demand for mobile AR technology. The region represents a considerable opportunity for the Mobile Augmented Reality market.
Key Players
Apple Inc., Qualcomm Inc., Blippar, Infinity Augmented Reality, Google Inc., CORDIS, SAP SE, DAQRI, Intel Corporation, HCL Technologies Limited, Elsevier, Catchoom technologies, Microsoft Corporation, and Samsung Electronics Ltd. among others are the significant market players who have been analyzed by MRFR for their role in the competitive landscape. These Mobile Augmented Reality market players use various strategies to stay one step ahead of the competition. Development of AR technology, the discovery of new applications for the technology, and mergers & acquisitions are some of the leading market strategies adopted by the above-mentioned market players.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/mobile-augmented-reality-market-1048
Latest Industry News
Jaunt Inc., has announced its successful acquisition of Personify which includes "teleporter" an AR 3D streaming technology. The move is designed to help in the development of AR technology which Jaunt hopes to make more immersive for the consumer.
Local U.S city of Fairborn has partnered with software development firm, Mile Two, to create an AR mobile game which is expected to increase tourism
Related Reports
Augmented Reality (AR) Market Research Report: by Component, Technology (Marker Based, Marker Less), by Device Type (Head Mounted Display, Head up Display), Vertical (Consumer Electronics, Commercial, Aerospace & Defense, Medical) –Forecast till 2023. The global augmented reality market is expected to grow at a CAGR of approximately 39% during the forecast period 2017-2023.
https://www.marketresearchfuture.com/reports/augmented-reality-market-1143
Satellite Based Augmentation Systems Market Information by Elements (SATCOM, Radar, and Electric Optic/ Infrared), by Aircraft Types (Fixed Wing and Rotary Wing), and Region – Global Forecast to 2023.
https://www.marketresearchfuture.com/reports/satellite-based-augmentation-systems-market-1634
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.