The augmented reality gaming global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Augmented Reality Gaming Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Augmented Reality Gaming Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Augmented Reality Gaming Market Overview
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.
Market Trends –
Major companies operating in the augmented reality gaming market are developing new products, such as geolocation-based augmented reality games, to gain a competitive edge in the market. Geolocation refers to the process or technology of identifying and determining the real-world geographic location of a person, device, or object using various methods, such as GPS (Global Positioning System), Wi-Fi, cellular networks, or sensors. For instance, in January 2023, Niantic Inc., a US-based software development company, launched NBA All-World, a free-to-play augmented reality basketball game. It is designed to celebrate basketball culture, and the game allows players to find and challenge each other on a map, recruiting NBA players to its teams and competing in real-world locations such as neighborhood courts and branded drop zones. The game encourages physical activity, exploration, and engagement with basketball culture, featuring challenges, gear drops from popular brands, and opportunities to showcase teams.
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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Regional Insights –
North America was the largest region in the augmented reality gaming market in 2023. 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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Augmented Reality Gaming Market Report Structure
3. Augmented Reality Gaming Market Trends And Strategies
4. Augmented Reality Gaming Market – Macro Economic Scenario
5. Augmented Reality Gaming Market Size And Growth
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27. Augmented Reality Gaming Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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