The global mobile augmented reality (AR) market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the The global mobile augmented reality (AR) market by region.
The global mobile augmented reality (AR) market was valued at~12.59 billion in 2020. The market is forecast to grow at a CAGR of ~31.38% during the forecast period from 2021-2027.
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AR applications for mobile phones are currently among the fastest-growing industries. AR on mobile devices is based on the broad distribution of tablet and smartphone hardware. As augmented reality technology becomes more powerful and cheaper, mobile devices supporting AR continue to grow rapidly. Furthermore, new hardware possibilities, including mobile projectors, are being introduced to enable mobile AR applications.
Additionally, mobile AR opens up the possibility for certain types of health interventions to be delivered to patients wherever they may be and at any time. As mobile technologies become more and more ubiquitous, they will become increasingly popular for health interventions due to their popularity and familiarity with patients. Aside from the fact that many patients have these devices already, AR technology is also more affordable than virtual reality. The adoption of AR applications and the belief that patients will be able to engage with these interventions can be enhanced by many of these factors.
Factors Affecting the Global Mobile Augmented Reality (AR) Market
The mobile augmented reality (AR) market size is forecast to grow significantly during the forecast period. Several factors are driving mobile augmented reality (AR) market growth, including the high level of use of AR in the healthcare industry growth of the retail sector, and the rapid adoption of AR technology by tourism and education sectors.
The limited user interface for AR apps hinders their performance and, in turn, the global market’s growth.
With the increasing adoption of AR smart glasses, there are likely to be opportunities for mobile augmented reality (AR) developers.
A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Mobile Augmented Reality (AR) Market.
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Covid-19 Impact on the Global Mobile Augmented Reality (AR) Market
Due to a slowdown in OEM production and a decline in demand for mobile devices and other electronic devices, the mobile AR market has shrunk slightly.
There has been a significant impact on global supply chains due to component and material shortages. The global economy has also been hindered by budget cuts and delays in planned projects across a variety of industries.
Despite this, the AR technology has gained traction post-Covid-19 due to its benefits in visualization, annotation, and storytelling. Through AR, users can access cultural events and participate in online learning, overcoming the isolation of lockdowns. Many countries including China, Japan, South Korea, and India are preparing a preemptive response in the form of lockdowns and social distancing to control the outbreak.
Vaccines are now available on a global scale and pandemic control has improved, particularly in North America and Europe. The mobile augmented reality (AR) market would benefit from this.
Regional Outlook: The Global Mobile Augmented Reality (AR) Market
There have been several companies producing AR-based products in Japan and China in recent years, fueling the growth of the Mobile Augmented Reality market in the region. There is a lot of investment expected in new technological developments in Japan, India, and China because of the growing consumer and commercial applications. Due to the widespread availability of Augmented Reality technology in the region, augmented reality has grown in popularity in both commercial and consumer applications for the Asia Pacific region. In the region, Augmented Reality technology enabled the market to grow faster than ever with smartphones and tablets. In the coming years, the global Mobile Augmented Reality market will grow most rapidly in Asia and the Pacific region.
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Key Market Players: The Global Mobile Augmented Reality (AR) Market
The global mobile augmented reality market is segmented by Application, Device Type, Component, and Region.
Segmentation based on Application
Aerospace & Defense
Segmentation based on Device Type
Personal Digital Assistants (PDAs)
Segmentation based on Component
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Segmentation based on Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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