According to the report by Expert Market Research (EMR), the global Mobile Augmented Reality Market Size is projected to grow at a CAGR of 3.30% between 2024 and 2032. Aided by the growing demand for immersive experiences and rising smartphone penetration, the market is expected to grow significantly by 2032.Mobile augmented reality refers to the integration of digital information with the user’s environment in real time through mobile devices such as smartphones and tablets. This technology enhances the user’s perception of reality by overlaying digital content onto the physical world, creating an interactive and immersive experience.
The gaming industry is one of the key drivers of the mobile augmented reality market growth. Popular games like Pokémon Go have demonstrated the potential of AR in creating engaging and interactive gaming experiences, leading to increased investment in AR game development. The retail sector is also leveraging AR to enhance the shopping experience by allowing customers to virtually try on clothes or visualise how furniture would look in their homes before making a purchase. This is expected to drive the mobile augmented reality market expansion.
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In the healthcare sector, mobile AR is being used for medical training, patient education, and surgical visualisation, improving the efficiency and effectiveness of medical procedures. The technology’s ability to provide real-time information and visualization is proving to be a valuable tool for healthcare professionals.
The increasing availability of AR-compatible smartphones and the development of advanced AR apps are further contributing to the market growth. As mobile devices become more powerful and AR technology continues to evolve, the applications of mobile augmented reality are expected to expand in the forecast period.
Moreover, the COVID-19 pandemic has accelerated the adoption of AR technology as businesses and consumers seek innovative ways to interact and engage in a socially distanced world. Virtual try-on solutions, remote assistance, and interactive learning experiences are just a few examples of how AR is being used to adapt to the new normal.
The mobile augmented reality market is making significant strides in sectors such as education, real estate, and automotive. In education, AR is being used to create interactive and engaging learning experiences, making complex subjects more accessible and enjoyable for students. For instance, AR-enabled textbooks and educational apps allow students to visualise historical events, scientific phenomena, and mathematical concepts in 3D, enhancing their understanding and retention of information. This is expected to drive the mobile augmented reality market expansion in the forecast period.
Competitive Landscape of Mobile Augmented Reality Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global mobile augmented reality market. Some of the major players explored in the report by Expert Market Research are as follows:
Samsung Electronics Co., Ltd.
Blippar Group Limited
ScienceSoft USA Corporation
Google LLC
Apple Inc.
Magic Leap, Inc.
Qualcomm Technologies, Inc.
iTechArt Group, Inc.
Microsoft Corporation
Groove Jones LLC
ImagineAR
Marxent Labs LLC