The mobile augmented reality is a versatile innovation which deals with the development of a transformative technology that shows a redesigned perspective of current reality. It is graphically driven by the ubiquitous use of cell phones and tablets. Augmented reality applications encourage customers to view information associated with the physical things present in close proximity, and further revolutionizing the customer’s experience. Augmented reality offers real-time experience through multiple sensory modalities such as visual, auditory, haptic, gyroscope, and olfactory from every corner in the world. Moreover, extensive usage of augmented reality in various industry segments such as tourism and e-commerce is surging the development of convenient body wear gadgets like augmented reality glasses.
According to a recent business intelligence report from IndustryARC, the global mobile augmented reality market was valued around $8 billion to $9 billion in 2018, and it is estimated to grow with an exuberant CAGR of 57% to 65% during the forecast period 2019-2025. The report titled “Mobile Augmented Reality Market: By Component (3D Cameras, Displays, Sensors and Software), By Application (Smartphones, Tablets, PDA/Game Consoles, Smart Glasses and Wearable’s), By Vertical (Medical, A&D) & By Region – Forecast (2019 – 2025)”, provides detailed information about the key players market strategies in the global mobile augmented reality market.
Global Mobile Augmented Reality Market Companies: Recent Developments
Samsung Electronics Co. Ltd., Google Inc., Microsoft Corporation, Qualcomm Inc., Catchoom Technologies, Atheer Inc., Apple Inc., Intel Corporation, Catchoom technologies, Blippar.Com Ltd. are some of the key players which are holding major shares in the global mobile augmented reality market.
- Apple is a leading manufacturer of smartphones and laptops. It released a new iOS 12 version for its gadgets in June 2018. This software update delivers an exciting new augmented reality experiences in the iPhones. Augmented reality software includes fun new features like Memoji’s, which creates a custom emoji that looks similar to the user. There are also few animoji characters present in iOS 12 version such as ghost, tyrannosaurus, koala, and tiger. Thus, gaining huge traction from consumers and in turn, proliferating the growth of global mobile augmented reality market.
- In 2018, Apple has launched ARKit 2 which is an upgraded version of ARKit. It is more helpful for the millions of users on iOS. It is an augmented reality application development platform paired with iOS 12 version software. ARKit 2 offers 3D object detection and anticipated multilayer feature, which in turn provides a better impact of gaming.
- In February 2019 Samsung Corporation has launched a new product named Hololens 2, with more advanced functions to Hololens. This headset offers a wide range of benefits such as comfort, immersive mixed reality experience, and real-time eye tracking.
Mobile augmented reality is ruling the entertainment industry with its advanced technology that overlays digital information on to the physical world. Increasing usage of smartphones, tablets, and headsets are the major factors which are up surging the demand of mobile augmented reality.
Consumer electronics is anticipated to drive the mobile augmented reality market into huge profits through to 2025.
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