MOBILE AUGMENTED REALITY MARKET TO REACH USD 78.5 BILLION BY 2027 | CAGR 47% – FORENCIS RESEARCH

Global Mobile Augmented Reality Market: Key Highlights

• According to the new market research report “Mobile Augmented Reality Market by Type (Marker-Based Augmented Reality, Marker-less Augmented Reality and Superimposition Based Augmented Reality), by Offering (Software and Hardware), by Device Type (Head Up displays, Holographic displays, Smart glasses and Handheld AR), by Application (Retail, Healthcare, Entertainment Applications, Manufacturing, Education and training, Travel and Tourism and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America,) – Global Forecast (2020 to 2027)”, the global Mobile augmented reality market is estimated to reach USD 78.5 Billion by 2027 at a CAGR of around 47% during the review period.
• Mobile augmented reality is a type of mobile application which helps to deliver the real-time base services to the user.
• The travel, education and entrainment industries are adopting these technologies for the development and transformation of the sector.
• However, technological and environmental limitation remain a major restraining factor for the growth of the mobile augmented reality market

Global Mobile Augmented Reality Market: Key Market Dynamics

• The location identification of a devices with the help of find the system positioning and data from phone sensor or to GSP.
• Due to the increased popularity of mobile device worldwide, the use of AR on mobile devices is growing rapidly. The rising use of devices with the emerging technologies which includes software application will lead to grow the AR devices.
• The key constraints on mobile augmented reality applications is the resources on the most devices are limited. Also by including some head based device or display there is often a specific view and limited resolutions which create a challenge for the market.
• Enhancement in artificial intelligence and machine learning helps to adopt the point to shoot services in retail sector where the quarries can be resolved through Chabot-based technologies.

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Global Mobile Augmented Reality Market: Regional Overview

• Asia-Pacific:

The mobile augmented reality in the Asia-Pacific is projected to witness high demand due to the high adoption of technologies and digital platform. China is more focused on the artificial intelligence, vehicle with new energy and augmented reality. Moreover, Japan is expected to grow at faster rate in Asia-Pacific due to rising gaming applications & industries and high investment in R&D of AR.

Made in China 2025 plan is also supporting the emerging technologies which will boost the market demand in Asia-Pacific with highly adoption rate.

• Europe

With to the rapid growth of the new emerging technologies in the region, the demand for augmented reality and virtual reality is expected to increase in the forecast period. The region is projected to be the fifth largest market for virtual and augmented reality. In 2018, the Europe General Data Protection Regulation (GDPR) came into effect to secure the data and privacy of the individuals in the region.

In 2020, The Ministry of Economic Development and Technology is working for enhancing the operation of Slovenian companies with the help of Amazon Europe for online Stores platform. These may lead to increase the demand for the market growth in the region with the technology enhancement and boost the economic growth.

Global Mobile Augmented Reality Market: Key Players Overview

• PTC Inc.:

PTC Inc. is a global computer solution and services company. The company delivers and develops the technology solution and enhance the business with its safety and security. In 2019, the company has announced to release Vuforia Expert Capture augmented reality (AR) to enhance the work production, safety and quality. Also in 2019, the company announced Adoption of Mixed Reality solution for Microsoft HoloLens 2 which will helps to provides solution for the industrial customer in an effective way.

• Lenovo:

Lenovo is one of the world leading multinational company, which engages in the provision of PCs, and mobile internet devices. In 2019, the company launched AR and VR platform of headset for the enterprise which is called as ThinkReality. The platform has created for the business managers, IT managers and developers in priority.  Also the Lenovo Mirage AR has the smartphone powered reality which will plays as heroes and convert in epic battle to the living room by its advancement features.

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