Mobile Augmented Reality Market to Grow at a CAGR of 65.12% by 2024, Focusing on Top Key Players - Qualcomm Technologies, Microsoft, Blippar.Com Ltd., Atheer, HP Reveal, Apple

The main objective of this report is to define, describe, and forecast the global “Mobile Augmented Reality” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global mobile augmented reality market is projected to grow at a CAGR of 65.12% over the forecast period of 2018-2024.

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Mobile augmented reality uses augmented reality technology to enhance the interactive experience of a real-world environment. In this augmented reality technology the virtual and real elements are combined and have accurate alignment of virtual objects in the world. The tremendous growth in mobile technology includes built-in cameras, sensors, computational resources and mobile cloud computing that enables the use of augmented reality in mobile devices. Mobile augmented reality integrates the digital information with the real environments thus the users are able to experience an environment that is surrounded by objects that exist in a virtual environment.

The modern world is a digital world and the number of active internet users across the globe is increasing rapidly. The augmented reality makes advertising more interactive and allows the new way of interaction between the consumers and marketers & advertisers. Mobile marketing is the most impactful multichannel digital marketing strategy, used to design for delivering marketing and promotional information to cell phones, smart phones, and other handheld devices. The rapidly growing use of mobile augmented reality for the marketing and the advertising are driving the growth of mobile augmented reality market worldwide.

The Augmented reality games play a pivotal role in the gaming industry. Mobile Augmented Reality (AR) platform uses a magnetic tracker and a depth sensor that are the vital elements in the gaming industry. The various smartphones are built specially for augmented reality. The growing widespread interest for the mobile gaming such as Pokemon GO, Ingress, ARrrrrgh and many other role playing games are anticipated to boost the demand of mobile augmented reality market. Moreover, the rising use of mobile augmented reality in the education, healthcare, and construction industries are likely to contribute to the growth of the mobile augmented reality market. However, the complex design of augmented reality devices may hamper the growth of the mobile augmented reality market. Moreover, the rising innovations and adoption of mobile augmented reality are projected to serve various opportunities in the mobile augmented reality market over the forecast years.

Geographically, North America holds the maximum market share in the mobile augmented reality market owing to the presence of numerous PC game development companies. The adoption of augmented reality technology is growing rapidly in the North America region for various applications. For instance, USA TODAY, the multi-platform news and information Media Company launched Augmented Reality to Mobile App to deliver, one-of-a-kind augmented reality experience for the users. In addition, the Asia Pacific region is the fastest growing region the mobile augmented reality market. The factors such as rising adoption of advanced technology, huge demand for smartphones and tablets, and growing use of augmented reality across various sectors drive the growth of mobile augmented reality market in Asia Pacific region.

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The report on global mobile augmented reality market covers segments such as component, device, and application. On the basis of a component, the sub-markets include hardware and software. On the basis of the device, the sub-markets include smartphones, tablets, smart glasses, wearable, and others. On the basis of application, the sub-markets include gaming and entertainment, travel and tourism, education and learning, e-commerce and marketing, industrial, automotive, aerospace & defense, and medical.

The report provides profiles of the companies in the market such as Qualcomm Technologies, Inc, Microsoft, Infinity Augmented Reality, Blippar.Com Ltd., SAMSUNG, DAQRI,Wikitude GmbH, Atheer, HP Reveal, and Apple Inc.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of mobile augmented reality market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.

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