Press release
Global Augmented Reality Gaming Market Projected to Grow at 29.4% CAGR, Reaching $51.63 Billion by 2029
Augmented Reality Gaming Market
Augmented Reality Gaming Market Size Growth Forecast: What to Expect by 2025?
In the past few years, the market size of augmented reality gaming has significantly increased. From being worth $14.32 billion in 2024, the market is projected to rise to an estimated value of $18.43 billion in 2025, witnessing a compound annual growth rate (CAGR) of 28.7%. The remarkable expansion throughout the historical period can be credited to the rise in smartphone usage, enhancement in AR hardware, burgeoning interest among developers, heightened consumer consciousness, and ongoing improvements in AR content quality and visuals.
How Will the Augmented Reality Gaming Market Size Evolve and Grow by 2029?
A substantial surge in the size of the augmented reality gaming market is anticipated in the coming years, reaching $51.63 billion by 2029, with a compound annual growth rate (CAGR) of 29.4%. Factors contributing to the predicted growth during this period include the merging with 5G networks, burgeoning cloud gaming platforms, the growth of AR in the e-sports industry, innovative social AR gaming developments, and the influx of investments in AR startups. Key trends to look out for during this period include the seamless integration with daily life, the development of social AR experiences, intermingling with other technologies, the growth of location-based AR games, and the diversification of AR gaming platforms.
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What Drivers Are Propelling the Growth of Augmented Reality Gaming Market Forward?
The augmented reality gaming market is anticipated to expand due to the growing prevalence of smartphones. These compact, mobile devices boast advanced computer capabilities, a touch-screen interface, internet access, and a variety of applications tailored to communication, multimedia, and productivity. Their built-in cameras and sensors are used to superimpose virtual elements onto the user's real-world surroundings, making for an engaging and immersive gaming experience. Uswitch Limited, a tech firm based in the UK, reported in November 2023 that mobile connections in the UK grew by 3.8%-approximately 2.6 million-amounting to 71.8 million in 2022 compared to 2021. Moreover, the UK population is projected to reach 68.3 million by 2025, with around 65 million (95%) of these people expected to have a smartphone. Such growth in smartphone usage is fueling the development of the augmented reality gaming market.
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Which Emerging Trends Are Transforming the Augmented Reality Gaming Market in 2025?
Leading corporations in the augmented reality gaming industry are innovating and launching new offerings like geolocation-based AR games to maintain a competitive advantage. Geolocation is a technology or procedure used to discover and verify a device, individual, or object's geographical location in the actual world through different techniques such as GPS, Wi-Fi, cellular networks, or sensors. For example, Niantic Inc., a US-based software development firm, unveiled NBA All-World, a free augmented reality basketball game in January 2023. The game, crafted to honor basketball culture, lets players locate and contest each other on a map while recruiting NBA players to their teams and playing in actual-world locations like neighborhood courts and branded drop zones. The game promotes physical activity, exploration, and interaction with basketball culture while presenting challenges, gear drops from renowned brands, and chances to exhibit teams.
What Are the Key Segments in the Augmented Reality Gaming Market?
The augmented reality gamingmarket 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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Who Are the Key Players Shaping the Augmented Reality Gaming Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.
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