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Mobile Augmented Reality (MAR) Market Anticipated To Witness Robust Growth, Surpassing $122.01 Billion By 2029
Mobile Augmented Reality (MAR)
What Is the Current Mobile Augmented Reality (MAR) Market Size and Its Estimated Growth Rate?
The market size for mobile augmented reality (MAR) has seen a dramatic increase in recent years. The projected growth is from $27.57 billion in 2024 to $37.19 billion in 2025, with a compound annual growth rate (CAGR) of 34.9%. The past growth can be credited to an increased demand for immersive user experiences, rising app-store income due to in-app and premium app purchases, the adoption of AR smart glasses within the business sector, and the growing utilization of augmented reality (AR) in both retail and e-commerce sectors.
Expectations indicate that the mobile augmented reality (MAR) market will witness incredible growth in the forthcoming years, with projected expansion to reach $122.01 billion by 2029, showcasing a Compound Annual Growth Rate (CAGR) of 34.6%. The reasons behind this prospective growth could be traced back to the rising acceptance of AR technology across various industries, increased patronage for AR entertainment applications, the incorporation of AR into social media platforms, the thriving sector of online gaming and the widespread use of 5G technology. Upcoming trends for the forecasted period are the development of novel AR applications, pouring investments into creating and delivering AR content, collaborations with mobile device manufacturers to enhance AR experiences, exploring untapped AR potential in emerging markets, and creating strategic alliances with AR software and hardware vendors.
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How Are Emerging Segments Shaping the Mobile Augmented Reality (MAR) Market Landscape?
The mobile augmented reality (MAR) market covered in this report is segmented -
1) By Type: Marker-Based, Markerless, Anchor-Based
2) By Offering: Mobile Augmented Reality (MAR) Software, Mobile Augmented Reality (MAR) Services
3) By Device Type: Smartphones, Tablets, Personal Digital Assistants (PDAs) Or Handheld Gaming Consoles, Other Devices
4) By Application: Consumer, Aerospace And Defense, Healthcare, Commercial, Enterprise, Other Applications
Subsegments:
1) By Marker-Based: 2D Marker, 3D Marker
2) By Markerless: GPS-Based, Visual Inertial Odometry (VIO)
3) By Anchor-Based: Location-Based, Image-based
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Which Growth Factors Are Influencing Mobile Augmented Reality (MAR) Market Expansion?
The expanding acceptance of smartphones and tablets by consumers is thought to fuel the mobile augmented reality (MAR) market's growth. These mobile devices, designed for communication, computing, and consuming multimedia, have touchscreen interfaces and various connectivity options. The demand for such gadgets is fueled by their convenience, versatility and their ability to deliver a broad array of communication, entertainment, and productivity features on the move. Smartphones and tablets use mobile augmented reality (MAR) to enrich user experiences by superimposing virtual objects or digital data onto the actual environment via their inbuilt sensors and cameras. This capability spawns immersive applications and interactions from gaming and navigation to learning and shopping. As per Uswitch Limited, a UK price comparison and switching service firm, there were 71.8 million mobile connections in the UK in February 2023, a 3.8% (approximately 2.6 million) increase from 2021. The UK population is anticipated to reach 68.3 million by 2025, with 95% (about 65 million people) owning a smartphone. As a result, the rising consumer use of smartphones and tablets is propelling the mobile augmented reality (MAR) market's growth.
Who Are the Dominant Players Across Different Mobile Augmented Reality (MAR) Market Segments?
Major companies operating in the mobile augmented reality (MAR) market report are Apple Inc.; Alphabet Inc.; Samsung Electronics Co. Ltd.; Microsoft Corporation; Novac Technology Solutions; Lenovo Group Limited; Panasonic Corporation; Continental AG; Xiaomi Corporation; Seiko Epson Corporation; Sony Semiconductor Solutions Corporation; Snap Inc.; PTC; TeamViewer AG; Magic Leap Inc.; HTC Corporation; Vuzix Corporation; WayRay AG; EON Realty Inc.; SoluLab Inc.; Kaon Interactive Inc.; Blippar Group Limited; Scope AR; Wikitude GmbH
What Are the Latest Developing Trends in the Mobile Augmented Reality (MAR) Market?
Leading firms in the mobile Augmented Reality (MAR) realm are creating superior solutions using breakthrough platforms such as the Vuzix Ultralite OEM platform to provide customers with enhanced functions. This platform is a compact and lightweight MAR solution offering easy-to-integrate hardware elements for different mobile AR devices like smartphones, tablets, or smart glasses. For example, in January 2024, Vuzix Corporation, an American company specialising in wearable virtual reality and augmented reality display technologies, introduced the Vuzix Z100 smart glasses. These are specifically made MAR devices aiming to smoothly link workers with artificial intelligence enhancement tools. The glasses act as a wearable connect between AI applications and human labourers, delivering urgent updates, workflow validations, and notifications instantly. The glasses also have superior monocular waveguide optics and a tailored microdisplay engine to convey vital data hands-free to users' Android or iOS devices in real-time.
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Which Geographic Regions Are Expected to Dominate the Mobile Augmented Reality (MAR) Market in the Coming Years?
North America was the largest region in the mobile augmented reality (MAR) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the mobile augmented reality (MAR) 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 Mobile Augmented Reality (MAR) Market?
2. What is the CAGR expected in the Mobile Augmented Reality (MAR) Market?
3. What Are the Key Innovations Transforming the Mobile Augmented Reality (MAR) Industry?
4. Which Region Is Leading the Mobile Augmented Reality (MAR) Market?
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