Global mobile augmented reality market to raise $ 184.61
Portland, OR, September 15, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the mobile augmented reality market is expected to reach $ 184.61 billion by 2030, up from $ 12.61 billion in 2020, with a CAGR of 31.40% from 2021 to 2030. The report presents information on key drivers, constraints and augmented reality mobile (AR), market opportunities, as well as with a detailed impact analysis.
The high use of mobile AR in the healthcare sector, the growth of the retail sector and the increasing adoption of AR technology by the tourism and education industry are the Key factors contributing to the growth of the global mobile augmented reality (AR) market. However, the limited user interface affecting the browsing performance of AR applications is a factor hampering the growth of the increased mobile market. On the contrary, the increase in the adoption of AR smart glasses is expected to create opportunities for the mobile augmented reality (AR) industry.
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· The sudden decline in infrastructure development is expected to hamper market growth for the consumer, education and tourism sectors.
· Slower OEM production and reduced demand for mobile devices and other electronic devices dragged down the mobile AR market slightly.
· Budget cuts and delays in planned projects in various industries have hampered the global economy.
The report segments the global mobile augmented reality (AR) market on the basis of component, device type, application, and region.
On the basis of applications, the consumer segment accounted for the largest market share in 2020, contributing more than two-thirds of the total share, and is expected to maintain its lead throughout the forecast period. On the other hand, the business segment is expected to experience the fastest CAGR of 38.4% from 2021 to 2030.
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Based on device type, the smartphone segment contributed the largest share in 2020, accounting for more than half of the global mobile augmented reality market. The same segment is expected to dominate the market with the manifestation of the highest CAGR of 32.6% from 2021 to 2030.
Depending on the region, North America contributed to the highest share in 2020, holding around two-fifths of the total share, and is expected to remain in the lead throughout the forecast period. On the other hand, Asia-Pacific is expected to exhibit the fastest CAGR of 32.8% during the forecast period.
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Major mobile augmented reality market players analyzed in the research include Microsoft Corporation, Blippar.Com Ltd., Qualcomm Inc., Google, Apple, Magic Leap, Groove Jones, Wikitude, Samsung Electronics Co. Ltd. and Marxent Labs.
Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, leads the organization towards delivering high quality data and information. We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Each of the data presented in the reports we publish is extracted through primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.