LONDON--(BUSINESS WIRE)--A large mobile user base is expected to boost the growth of the mobile augmented reality market in China, which is posting a CAGR of 110% from 2015-2019, says research firm Technavio.
According to the latest report by Technavio, shipments of smartphones and tablets in China are expected to reach 730 million units in the next five years. Several vendors are looking to tap into the augmented reality market in China to capitalize on this strong growth.
“The growing interest of Chinese consumers in new technology has prompted augmented reality vendors to develop mobile apps for this booming market,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also emphasizes crowdfunding, which is expected to be a common venue for augmented reality vendors to raise funds for their projects over the next four years. Crowdfunding not only increases awareness among potential customers, but also encourages new vendors to enter the market, thus increasing the competition and reducing device prices.
“Crowdfunding allows vendors to anticipate the demand for their products, directly communicate with potential buyers and involve them in product development,” says Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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