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Rise In Smartphone Penetration Fuels Growth In The Augmented Reality Gaming Market Emerges as a Core Driver of the Augmented Reality Gaming Market in 2025
Augmented Reality Gaming
What Is the Expected CAGR for the Augmented Reality Gaming Market Through 2025?
The market size of augmented reality gaming has seen a significant increase in recent years. Its worth is expected to jump from $14.32 billion in 2024 to $18.56 billion in 2025, with a compound annual growth rate (CAGR) of 29.6%. The past growth in this sector can be credited to factors like the growing adoption of smartphones, advancements in AR technology, rising interest from developers, increased consumer cognizance, and enhancements in the quality of AR content and graphics.
What's the Projected Size of the Global Augmented Reality Gaming Market by 2029?
The market size for augmented reality gaming is projected to experience tremendous growth in the upcoming years. Predicted to reach $52.31 billion in 2029 with a compound annual growth rate (CAGR) of 29.6%, this surge can be credited to the incorporation with 5G networks, the rise of cloud-based gaming platforms, the adoption of AR in e-sports, advancement in social AR gaming and escalating investments in AR startups. The expected trends during this forecast period consist of extensive integration with daily life, growth of social AR experiences, amalgamation with other technologies, the emergence of location-based AR games and broadening of AR gaming platforms.
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Top Growth Drivers in the Augmented Reality Gaming Industry: What's Accelerating the Market?
The augmented reality gaming market is predicted to thrive with the rising smartphone penetration. Smartphones, the compact handheld devices featuring advanced computation functionalities, touchscreen interfaces, internet access, and a variety of application software for communication, multimedia, and productivity, facilitate augmented reality (AR) gaming. They do this by utilizing their in-built cameras and sensors to superimpose virtual components into a real-world setting, thereby offering users a captivating, interactive gaming experience. For instance, Uswitch Limited, a tech firm based in the UK, reported in November 2023, that the mobile connections in the UK spiked by 3.8% (about 2.6 million), reaching 71.8 million in 2022. Moreover, the UK populace is estimated to balloon to 68.3 million by 2025, with smartphones projected to be owned by around 65 million individuals, accounting for 95% of the population. Consequently, this proliferating smartphone penetration fuels the growth of the augmented reality gaming market.
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What Trends Will Shape the Augmented Reality Gaming Market Through 2029 and Beyond?
In an effort to gain a competitive advantage in the augmented reality gaming sector, leading companies are innovating and bringing forth new products like geolocation-based augmented reality games. Geolocation is a technology that helps pinpoint the exact geographic spot of a person, device, or object using various means such as GPS (Global Positioning System), Wi-Fi, cellular networks, or different sensors. A specific example would be from January 2023, when US-based software development company Niantic Inc., launched a no-cost augmented reality basketball game, NBA All-World. The game was created as a tribute to basketball culture, allowing users to locate and challenge each other on a map, enticing NBA players to join their teams and compete in locations like local courts and branded drop zones in the real world. The game promotes physical activity, exploration, and interaction with the basketball world, offering challenges, gear drops from top brands, and a platform to flaunt your teams.
What Are the Main 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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Which Top Companies are Driving Growth in the Augmented Reality Gaming Market?
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.
Which Regions Will Dominate the Augmented Reality Gaming Market Through 2029?
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.
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