Press release
Augmented Reality Gaming Market Size Forecasted To Achieve $52.31 Billion By 2029 With Steady Growth
Augmented Reality Gaming Market Size
What Is the Augmented Reality Gaming Market Size and Projected Growth Rate?
The market size of augmented reality gaming has seen unprecedented growth in the recent past. It is anticipated to escalate from $14.32 billion in 2024 to $18.56 billion in 2025, with a compound annual growth rate (CAGR) of 29.6%. The substantial growth observed in the historic timeline is largely due to factors such as the rising adoption rate of smartphones, progressive developments in AR hardware, heightened interest from developers, burgeoning consumer cognizance, and enhancements in the quality of AR content and graphics.
Predictions suggest a rapid expansion of the augmented reality gaming market in the upcoming years, with an anticipated growth reaching $52.31 billion by the year 2029, reflecting a Compound Annual Growth Rate (CAGR) of 29.6%. This projected growth in the forecasted period may be due to the incorporation with 5G networks, the rise of cloud-based gaming platforms, AR's expansion into e-sports, advancements in social augmented reality gaming, and amplified funding in AR startups. Significant trends anticipated within this period are its pervasive integration into daily life, the broadening of social AR experiences, its fusion with additional technologies, the emergence of location-oriented AR games, and the variety of AR gaming platforms.
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What Are the Major Segments in the Augmented Reality Gaming Market?
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
Subsegments:
1) By Head Mounted Display (HMD): VR Headsets, AR Glasses
2) By Handheld Display: Mobile Devices, Tablets
3) By Spatial Display: Projection-Based Systems, Desktop Monitors
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What Are The Driving Augmented Reality Gaming Market Evolution?
The growth of the augmented reality gaming industry is anticipated to be driven by the rising prevalence of smartphones. A smartphone is a portable device that offers advanced computing abilities, a touchscreen interface, internet access, and various applications for communication, multimedia, and productivity. Smartphones contribute to the augmented reality (AR) gaming industry by employing their built-in cameras and sensors to superimpose virtual elements onto the real world, resulting in an engaging and immersive gaming environment. For example, Uswitch Limited, a technology company based in the UK, reported in November 2023 that there were 71.8 million mobile connections in the UK in 2022, a 3.8% (or about 2.6 million) increase from 2021. Additionally, the UK's population is estimated to reach 68.3 million by 2025, with 95% (or approximately 65 million people) predicted to possess a smartphone. As a result, the growing utilization of smartphones is propelling the augmented reality gaming industry forward.
Which Firms Dominate The Augmented Reality Gaming Market Segments?
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.
What Trends Are Expected to Dominate the Augmented Reality Gaming Market in the Next 5 Years?
Leading businesses in the augmented reality gaming sector are creating innovative products like geolocation-based AR games to stay competitive. Geolocation involves the utilization of technologies such as GPS (Global Positioning System), Wi-Fi, cellular networks, or sensors to pinpoint the precise geographic position of a person, device, or object. For example, in January 2023, Niantic Inc., a software development firm in the U.S., introduced NBA All-World, a free-to-play AR basketball game. This game is a tribute to the basketball lifestyle, allowing players to locate and compete with each other on a map, enlisting NBA players onto their teams and facing off in actual locations like local courts and branded drop zones. The game inspires physical activities and exploring, enhancing engagement with the basketball culture, and offers challenges, gear drops from known brands, and chances to showcase teams.
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Which Is The Largest Region In The Augmented Reality Gaming Market?
North America was the largest region in the augmented reality gaming market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented reality gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Augmented Reality Gaming Market?
2. What is the CAGR expected in the Augmented Reality Gaming Market?
3. What Are the Key Innovations Transforming the Augmented Reality Gaming Industry?
4. Which Region Is Leading the Augmented Reality Gaming Market?
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