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Augmented Reality Gaming Market Size, Forecast, Growth, Trends 2024-2033
Augmented Reality Gaming Market
The Business Research Company presents an extensive market research report on the Augmented Reality Gaming Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The augmented reality gaming market size has grown exponentially in recent years. It will grow from $11.03 billion in 2023 to $14.32 billion in 2024 at a compound annual growth rate (CAGR) of 29.8%. The growth in the historic period can be attributed to increased smartphone adoption, advancements in AR hardware, growing developer interest, rising consumer awareness, improvements in AR content quality and graphics.
The augmented reality gaming market size is expected to see exponential growth in the next few years. It will grow to $40.29 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%. The growth in the forecast period can be attributed to integration with 5G networks, emergence of cloud gaming platforms, expansion of AR in e-sports, innovations in social AR gaming, increased investment in AR startups. Major trends in the forecast period include ubiquitous integration with everyday life, expansion of social AR experiences, convergence with other technologies, rise of location-based AR games, diversification of AR gaming platforms.
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Key Market Players:
Major companies operating in the augmented reality gaming market report are Apple Inc., Alphabet Inc., Microsoft Corporation, Sony Group Corporation, Qualcomm Technologies Inc., Hexagon AB, Niantic Inc., Magic Leap Inc., Meta Platforms Inc., Sixense Enterprises Inc., EON Reality Inc., DAQRI LLC, RE'FLEKT GmbH, Seabery S.L., Zappar Ltd., VividWorks Ltd., Marxent Labs LLC, Scope Technologies US Inc., Total Immersion Inc., Augmented Pixels Inc., Blippar Limited, Upskill VR, Ubimax GmbH, Catchoom Technologies S.L., Infinity Augmented Reality Ltd.
Market Drivers:
The increase in smartphone penetration is expected to propel the growth of the augmented reality gaming market going forward. A smartphone is a compact mobile device with advanced computing capabilities, a touchscreen interface, internet connectivity, and various applications for communication, multimedia, and productivity. Smartphones use augmented reality (AR) gaming by leveraging its built-in cameras and sensors to overlay virtual elements onto the real-world environment, providing users with an interactive and immersive gaming experience. For instance, in November 2023, according to Uswitch Limited, a UK-based technology company, in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. Further, the UK population is expected to grow to 68.3 million by 2025, of which 95% (or around 65 million individuals) are expected to own a smartphone. Therefore, the increase in smartphone penetration is driving the growth of the augmented reality gaming market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/augmented-reality-gaming-global-market-report
The augmented reality gaming market covered in this report is segmented -
1) By Product: Head Mounted Display (HMD), Handheld Display, Spatial Display
2) By Component: Software, Hardware
3) By Device: Mobiles, Smart Glasses
4) By Application: Commercial Use, Home Use
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