The Mobile AR market is set to reach $184.61 billion by 2030, driven by growth in retail, tourism, and healthcare sectors.
According to report published by Allied Market Research, titled, “Mobile Augmented Reality (AR) Market by Component (Hardware, Software, and Services), Device Type (Smartphones, Tablets, Personal Digital Assistants (PDAs), and Others), and Application (Consumer, Healthcare, Enterprise, Commercial, Aerospace & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030” global mobile augmented reality (AR) market size is expected to reach $184.61 billion by 2030 from $12.61 billion in 2020, growing at a CAGR of 31.40% from 2021 to 2030.
Market Scenario
According to the insights of the CXOs of leading companies, the mobile augmented reality (AR) market holds high potential in the retail, and tourism, e-commerce industry. Factors, such as high usage of Mobile AR in healthcare industry, rapid growth of the retail industry, and surge in adoption of AR technology by tourism and education sector drive the mobile augmented reality (AR) market growth. Several companies in this industry adopt various innovative techniques to provide customers with advanced and innovative features. However, limited user interface affecting navigation performance of AR apps is a major restraint to the global market growth. In addition, rising adoption of AR smart glasses is expected to create opportunities for the mobile augmented reality (AR) industry
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Research Methodology
The research methodology of the global Mobile Augmented Reality (AR) Market takes in extensive primary and secondary research. The primary study encompasses an in-depth evaluation of an array of driving forces, whereas, the secondary research involves a significant overview of the products & services. Furthermore, a lot of relevant and government sites, press releases, and industry journals have been thoroughly probed to call forth high-value industry insights.
At the same time, it is very much important to comprehend to the overall value chain to attain a deep understanding of the industry. To pull off this aspect, Allied Market Research accumulates data from the top officials in the industry. Simultaneously, technical data is also collected from the intellectual property standpoint, while technical trends are obtained through detailed assessments, technical meetings, and trade communiqués & reports. This study portrays an informative depiction of the global market along with the current drifts and future assessments to prop up the investment pockets.
COVID-19 scenario analysis
The COVID-19 pandemic has significantly impacted global economies, resulting in workforce & travel restrictions, supply chain & production disruptions, and reduced demand & spending across many sectors. Sudden decline in infrastructure development is expected to hamper the market growth for consumer, education, tourism sector.
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The global Mobile Augmented Reality (AR) Market report provides a comprehensive analysis of major market players such as Qualcomm Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., Blippar.Com Ltd., Google, Apple, Magic Leap, Groove Jones, Wikitude, and Marxent Labs. These players have adopted various strategies, such as partnership, agreement, collaboration, and product launch, to expand their foothold in mobile augmented reality (AR) industry.
Furthermore, prominent strategies such as product launch, business expansion, acquisition, and others are adopted by leading players to strengthen their business reach and position in the global Mobile Augmented Reality (AR) Market.
Key Benefits for Mobile Augmented Reality (AR) Market:
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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The article discusses the growth of the Mobile Augmented Reality market, projected to reach $184.61 billion by 2030.
Retail, tourism, e-commerce, healthcare, and education sectors are key drivers of AR market growth.
A major challenge is the limited user interface affecting navigation performance of AR apps.
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