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Mobile Augmented Reality (AR) Market is Estimated to Hit $184.61 Billion by 2030, Registering a CAGR of 31.40%
Mobile Augmented Reality (AR) Market
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According to the insights of the CXOs of leading companies, the mobile augmented reality (AR) market holds high potential in the retail, and tourism, e-commerce industry. Factors, such as high usage of Mobile AR in healthcare industry, rapid growth of the retail industry, and surge in adoption of AR technology by tourism and education sector drive the mobile augmented reality (AR) market growth.
Several companies in this industry adopt various innovative techniques to provide customers with advanced and innovative features. However, limited user interface affecting navigation performance of AR apps is a major restraint to the global market growth. In addition, rising adoption of AR smart glasses is expected to create opportunities for the mobile augmented reality (AR) industry.
Report Overview:
https://www.alliedmarketresearch.com/mobile-augmented-reality-ar-market-A13124
Asia-Pacific is expected to at a 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. Also, high adoption of advance technologies in retail industry offer growth opportunities for mobile augmented reality (AR) market. In addition, North America was the largest contributor, in terms of revenue, and is expected to witness a significant growth during the forecast period.
Competitive Analysis:
The company profile section of the Mobile Augmented Reality (AR) Market report covers strategic developments, business overview, product offerings, and financial performance of the companies. It also highlights the strategies adopted by companies such as products launch, agreements, partnerships, acquisitions mergers, collaborations, joint ventures, research & development investment, and regional expansion in the past few years.
Some of the major key players of the global Mobile Augmented Reality (AR) Market include,
• Qualcomm Inc.
• Microsoft Corporation
• Samsung Electronics Co. Ltd.
• Blippar.Com Ltd.
• Apple
• Magic Leap
• Groove Jones
• Wikitude
• Marxent Labs
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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 a 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
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 smartphones segment accounted for more than 50% of the global mobile augmented reality (AR) market share in 2020.
• The enterprise segment witness highest growth rate during the forecast period.
• UK was the major shareholder in the Europe mobile augmented reality (AR) market revenue, accounting for approximately 26% share in 2020.
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