Overview and Scope
Mobile augmented reality (MAR) refers to the integration of digital information or virtual objects into the real-world environment through the use of mobile devices such as smartphones or tablets. This technology overlays computer-generated images, videos, or information onto the user’s view of the physical world, typically through the device’s camera and screen.
Sizing and Forecast
The mobile augmented reality (MAR) market size has grown exponentially in recent years. It will grow from $20.54 billion in 2023 to $27.57 billion in 2024 at a compound annual growth rate (CAGR) of 34.3%. The growth in the historic period can be attributed to demand for immersive user experiences, increased app-store revenue with the in-app and premium app purchases, use of AR smart glasses in the enterprise, and increased use of augmented reality (AR) in retail and e-commerce applications.
The mobile augmented reality (MAR) market size is expected to see exponential growth in the next few years. It will grow to $90.56 billion in 2028 at a compound annual growth rate (CAGR) of 34.6%. The growth in the forecast period can be attributed to the increasing adoption of AR technology in various sectors, the rising popularity of AR entertainment applications, the integration of AR into social media platforms, the booming online gaming industry, and penetration of 5G technology. Major trends in the forecast period include development of innovative AR applications, investment in AR content creation and delivery platforms, collaboration with mobile device manufacturers to optimize AR experiences, expansion into emerging markets with untapped AR potential, strategic partnerships with AR software and hardware providers.
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Segmentation & Regional Insights
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
North America was the largest region in the mobile augmented reality (MAR) market in 2023. 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.
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Major Driver Impacting Market Growth
The growing consumer adoption of smartphones and tablets is expected to propel the growth of the mobile augmented reality (MAR) market going forward. Smartphones and tablets are portable electronic devices designed for communication, computing, and multimedia consumption, featuring touchscreen interfaces and various connectivity options. The demand for smartphones and tablets persists due to their convenience, versatility, and ability to provide access to a wide range of communication, entertainment, and productivity features on the go. Smartphones and tablets leverage mobile augmented reality (MAR) to enhance user experiences by overlaying digital information or virtual objects onto the real-world environment through their built-in cameras and sensors, enabling immersive interactions and applications ranging from gaming and navigation to education and shopping. For instance, in February 2023, according to Uswitch Limited, a UK-based price comparison and switching service company, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. The UK population is expected to grow to 68.3 million by 2025, of which 95% (or around 65 million individuals) will own a smartphone. Therefore, the growing consumer adoption of smartphones and tablets is driving the growth of the mobile augmented reality (MAR) market.
Key Industry Players
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
The mobile augmented reality (mar) market report table of contents includes:
- Executive Summary
- Mobile Augmented Reality (MAR) Market Characteristics
- Mobile Augmented Reality (MAR) Market Trends And Strategies
- Mobile Augmented Reality (MAR) Market – Macro Economic Scenario
- Global Mobile Augmented Reality (MAR) Market Size and Growth
- Mobile Augmented Reality (MAR) Market Segmentation
- Mobile Augmented Reality (MAR) Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Mobile Augmented Reality (MAR) Market
- Mobile Augmented Reality (MAR) Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Mobile Augmented Reality (MAR) Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Mobile Augmented Reality (MAR) Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Mobile Augmented Reality (MAR) Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Apple Inc. Financial Performance
Table 76: Alphabet Inc. Financial Performance
Table 77: Samsung Electronics Co. Ltd. Financial Performance
Table 78: Microsoft Corporation Financial Performance
Table 79: Novac Technology Solutions Financial Performance
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