Rise in consumer awareness regarding health and hygiene, and increase in demand for antimicrobial medical textiles from the healthcare sector are the factors driving the growth of the global mobile augmented reality market. Another factor propelling the global mobile augmented reality market growth is increase in growth of the retail industry and use of AR technologies by retailers in order to offer user-friendly experience to the customers.
Portland,OR, Sept. 15, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global mobile augmented reality market is anticipated to reach $184.61 billion by 2030, from $12.61 billion in 2020, growing at a CAGR of 31.40% from 2021 to 2030. The report presents information related to key drivers, restraints, and mobile augmented reality (AR), market opportunities, along with detailed impact analysis.
High use of mobile AR in the healthcare sector, growth of the retail industry, and rise in adoption of AR technology by the tourism and education industry are the key factors contributing to the growth of the global mobile augmented reality (AR) market. However, limited UI affecting the navigation performance of AR apps is a factor hampering the mobile augmented market growth. Contrarily, increase in the adoption of AR smart glasses is anticipated to build opportunities for the mobile augmented reality (AR) industry.
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· Sudden decline in infrastructure development is expected to hamper the market growth for consumer, education, and tourism sector.
· The slowdown in productions by OEMs and reduction in demand for mobile devices and other electronic devices has slightly pulled down the market for mobile AR.
· Reductions in budgets and delays in planned projects in various industries have hampered the global economy.
The report segments the global mobile augmented reality (AR) market on the basis of component, device type, application, and region.
Based on application, the consumer segment accounted for the largest market share in 2020, contributing to more than two-thirds of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the enterprise segment is estimated to witness the fastest CAGR of 38.4% from 2021 to 2030.
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Based on the devices type, the smartphones segment contributed to the largest share in 2020, accounting for more than half of the global mobile augmented reality market. The same segment is expected to lead the market with the manifestation of the highest CAGR of 32.6% from 2021 to 2030.
Based on region, North America contributed to the highest share in 2020, holding around two-fifths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, Asia-Pacific is expected to portray the fastest CAGR of 32.8% during the forecast period.
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Leading players of the mobile augmented reality market analyzed in the research include Microsoft Corporation, Blippar.Com Ltd., Qualcomm Inc., Google, Apple, Magic Leap, Groove Jones, Wikitude, Samsung Electronics Co. Ltd., and Marxent Labs.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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