Mobile Augmented Reality (MAR) Market
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Mobile Augmented Reality (MAR) Market. The growth sectors of the Mobile Augmented Reality (MAR) Market are identified with precision for a better growth perspective.
Buzzwords like the internet of things (IoT), virtual reality (VR), and augmented reality (AR) are the best fitting narrative for the future of technology. It is safe to say that with the advent of smartphones and the internet of things (IoT); the deployment of augmented reality has been easily available to the masses. Augmented reality-based games and mobile applications have taken the internet world by a storm since the world was first introduced to the technology by Snapchat back in 2016. The craze to click pictures using the Snapchat lenses has only upscaled, with people using every Snapchat filter ranging from a flower crown to bunny ears. Another prime example of the introduction of mobile augmented reality that created an international buzz was the launch of the AR-based game Pokémon Go.
Since the emergence of augmented reality, many industry giants such as Samsung Electronics, Google Inc., Microsoft Corporation, Blippar, and Qualcomm have heavily invested in ways to integrate the technology into their products. The rising demand for AR integration has pushed all these consumer electronics giants to devise their latest gadgets with in-built sensors, processing, and displays used for AR applications.
Augmented reality has opened many growth avenues for businesses to enhance their consumer experience, leading to burgeoning adoption of augmented reality among numerous industry verticals. For instance, on April 17, 2019, Shutterstock, an online stock photo and video platform has launched ‘View in Room,’ which is an AR-based update in its iOS application. This update enables iOS-based smart gadget users to access their phone camera and virtually position their desired image from Shutterstock’s 250 million+ image repository on a wall of their liking. Another example of effective AR application would be in the travel and tourism sector. One of the earliest instances of AR integration was done by the tourism giant TripAdvisor on their iOS application, back in 2011. Similar deployments have been on the rise since then, significantly altering the e-commerce landscape.
A staggering adoption of mobile augmented reality is seen, with 61 out of every 100 organizations integrating some form of AR application into their business. Industry verticals ranging from retail, tourism, to gaming and entertainment are actively participating in the proliferated shift towards AR integration.
The augmented reality sector is witnessing bold investment moves from market players in developed economies like North America and Europe. The deployment of AR is extremely easy in North America since the region boasts an advanced mobile network infrastructure. Further, intrepid investments in the development of smart devices with AR integration is only influencing an astronomical use of the augmented reality in the region. Whereas, rapid technological advancements are taking place in many developing countries such as India, China, and Japan. These countries are likely to emerge as the biggest integrators of augmented reality, thanks to several noteworthy factors supporting such integration.
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Mobile Augmented Reality MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Mobile Augmented Reality Market .
The growth sectors of the Mobile Augmented Reality Market are identified with precision for a better growth perspective.Today, using internet on mobile is a common thing, and the next big thing is the augmented reality which all leading mobile makers are providing.
Nowadays, advanced smartphones and tablets offer Internet of Things (IoT), along with the advanced technologies in augmented reality.
They are integrated with the sensors, processing, and displays for mobile which is used for augmented reality applications.Market Research Future (MRFR) has published a research report that anticipates colossal growth for the global mobile augmented reality market with 61% CAGR (Compound Annual Growth Rate) between 2017 and 2023.
The key factors that are driving the growth of this market include craze for next-generation mobile augmented reality, emerging IoT & artificial intelligence (AI), the popularity of wearable devices & hands-free devices, and the growing market of mobile handsets.The global mobile augmented reality market has been segmented on the basis of application, component, end user, and region.
Based on the end users, the market has been segmented into enterprises, gaming & entertainment, public sectors, telecommunication, and others.
