Augmented reality or AR is an innovative technology that displays an upgraded perception of present reality which is increasingly picking up acceptance over enterprises. Mobile augmented reality uses AR technology to increase the interactive experience of a real-world environment. In this technology the virtual and real elements are combined and have precise alignment of virtual objects in the world. The tremendous growth in mobile technology includes computational resources, sensors, built-in cameras, and mobile cloud computing that enables the use of augmented reality in mobile devices. Mobile augmented reality integrates the digital information with the real environments therefore the users are able to experience an environment which is surrounded by objects that exist in a virtual environment.
According to study, “Global Mobile Augmented Reality Market Size study, by Component (Hardware Component and Software Component), by Application (Smartphones, Tablets, Personal Digital Assistants (PDAs)/Handheld Game Consoles, Smart Glasses and Wearables) by Vertical (Consumer Vertical, Aerospace & Defense, Medical, Commercial and Industrial) and Regional Forecasts 2018-2025” the key companies operating in the global mobile augmented reality market are Infinity Augmented Reality Inc., Blippar.Com Ltd., Google Inc., Catchoom Technologies, Qualcomm Technologies Inc., Metaio GmbH, Microsoft Corporation, Atheer Inc., Samsung Electronics Co. Ltd., HP Reveal, Aurasma, Wikitude GmbH, Daqri LLC.
Based on implementation, mobile augmented reality market is segmented into market-based augmented reality and marker-less augmented reality. Based on component, market is segmented into software components and hardware components. Hardware components include sensor, display, 3D camera and semiconductor component. Sensors include gyroscope, proximity sensors, Global Positioning System (GPS), accelerometer and magnetometer. Semiconductor components include integrated circuit and controller or processor. Based on application, market is segmented into Personal Digital Assistants (PDAs)/handheld game consoles, smartphones, smart glasses & wearables and tablets. In addition, based in vertical, market is segmented into commercial, aerospace & defense, consumer vertical, medical, industrial and others. Commercial segment includes e-learning, tourism & sightseeing and e-commerce & marketing. Consumer vertical includes sports & entertainment and gaming. Furthermore, industrial segment includes architecture & building design (BIM), automotive, enterprise solutions and geospatial mining.
The mobile augmented reality market is driven by growth in demand for smartphones & tablets, followed by decline in prices of hardware components, increase in demand for AR apps in the e-commerce sector, growth in widespread interest for the mobile gaming for instance Pokemon GO, ARrrrrgh, Ingress, and many other role playing games and rise in interest of large tech companies in AR. However, low adoption rate due to privacy issues & complexities in the design and limited user interface affecting the navigation performance of AR applications may impact the market. Moreover, growth in adoption of 3D cameras for 3D generation models of real objects, rise in investments in the research & development (R&D) activities and growth in next generation of devices are key opportunities for market.
Based on geography, the Asian-Pacific dominates the mobile augmented reality market owing to rise in urbanization, high demand for tablets & smartphones and growth in economic developments in the region. The North-American and European regions are predicted to exhibit higher growth rate due to rise in scope of applications of augmented reality and growth in investment in the production of smart devices over the forecast period. In upcoming years, it is estimated that the market will be reached at fast speed as a result of rise in sales of wearable & hands-free devices, presence of numerous PC game development companies and increase in disposable incomes during the forecast period.
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Ankur Gupta, Head Marketing & Communications