LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global mobile augmented reality (AR) market is expected to grow at a CAGR of more than 77% during the forecast period.
This research report titled ‘Global Mobile Augmented Reality Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|Analysts at Technavio have forecast the global mobile AR market to grow to USD 44.2 billion by 2021. The increasing dependence on and increasing proliferation of AR apps for numerous activities is one of the major drivers of the market.|
The large-scale adoption of smartphones and increased penetration of the internet has given rise to a multitude of mobile applications to make life simpler and more streamlined. Additionally, the number of mobile AR users is expected to grow almost ten-fold by 2021, which will be driven by the introduction of new AR mobile apps, such as PokémonGO.
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Based on application, the report categorizes the global mobile augmented reality market into the following segments:
- Marketing and advertising
- Gaming and entertainment
- Education and learning
- Travel and tourism
The top three revenue-generating application segments in the global mobile augmented reality market are discussed below:
Marketing and advertising
“The marketing and advertising sector is one of the earliest adopters of the augmented reality technology to allow better consumer interaction with its brands. Companies such as Pepsi and Ray-Ban are using AR campaigns and AR apps to raise product awareness and attract more customers,” says Chetan Mohan, one of the lead analysts at Technavio for human machine interface research.
Companies are developing computer-generated graphics that are superimposed with real-life scenes to add a new dimension to marketing. The market is expected to witness multiple vendors competing to bring in new concepts and innovations in this sector, which will drive market growth.
Gaming and entertainment
Manufacturers are currently developing realistic and hyper-realistic augmented reality games for both smartphones and PCs. Customer perceptions and reviews are being studied to understand their demands and expectations better. Temple Treasure Hunt, ARBasketball, SpecTrek, and Toyota 86 AR are some of the famous games that are currently dominating the gaming and entertainment segment in the global mobile AR market.
Education and learning
“Mobile augmented reality models provide a quality learning experience with simplified training modules at reasonable prices. Homework linked with QR codes to provide access related material, and augmented reality apps to get hands-on training are some of the offerings augmented reality has provided to the education sector,” says Chetan.
South Korea is one of the biggest adopters of AR technology in the education sector. The Ministry of Education in South Korea announced the shift to digital textbooks in the elementary and middle school classrooms. Initially, these textbooks will not fully service AR content, but it will be slowly rolled out.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Augmented Pixels
Browse Related Reports:
- Global Augmented Reality Market 2017-2021
- Global Mobile Augmented Reality and Virtual Reality Apps Market 2016-2020
- Global Augmented Reality Market for Gaming 2016-2020
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