NEW YORK, May 17, 2016 /PRNewswire/ -- "Mobile augmented reality market to grow at a high CAGR of 69.85% between 2016 and 2022"
The mobile augmented reality market is expected to reach USD 79.77 billion by 2022, at a CAGR of 69.85% between 2016 and 2022. The major reason for the growth of the mobile augmented reality technology is the increasing use of smartphones and tablets, adoption of advanced technologies, and implementation of software applications in mobile computing. The use of augmented reality applications in smartphones, tablets, smart glasses, and other devices have increased the scope of the mobile augmented reality market for different sectors.
"Smartphone application to hold a large market share"
The demand for smartphones has increased owing to their various functionalities and day-to-day use. Also, the implementation of augmented reality software applications in smartphones is easy and it provides 3D visualization of digital information in the real world. Also, users can easily connect to these digital images to enhance their experience, using the device camera. These factors are likely to propel the growth of the augmented reality market for smartphones.
"APAC expected to be the fastest-growing market"
This report covers the said market in North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market in APAC is expected to grow at the highest CAGR between 2016 and 2022. The high adoption rates of new technologies demand for smartphones and tablets, and improving economic conditions are some of the important factors that have contributed to the growth of the mobile augmented reality market in the APAC region.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 - 25%, Tier 2 - 50%, and Tier 3 - 25%
- By Designation: C-Level - 35%, Director Level - 25%, and Others - 40%
- By Region: North America - 45%, APAC - 30%, Europe - 20%, and RoW - 5%
The key players in the mobile augmented reality market profiled in this report are Google Inc. (U.S.), Qualcomm Inc. (U.S.), Samsung Electronics Co. Ltd. (South Korea), Microsoft Corporation (U.S.), Infinity Augmented Reality Inc. (Israel), Blippar.com Limited (U.K.), DAQRI LLC (U.S.), Wikitude GmbH (Austria), Metaio GmbH (Germany), Catchoom Technologies (Spain), Aurasma (U.K.), and Atheer Inc. (U.S.).
Reasons to Buy the Report:
- This report includes the market statistics pertaining to component, application, vertical, and geography, along with their respective market size.
- The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the mobile augmented reality market.
- Major drivers, restraints, challenges, and opportunities for the growth of the mobile augmented reality market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for the market based on component, application, vertical, and geography have been conducted to give an overall view of the mobile augmented reality market.
- A detailed competitive landscape includes key players, in-depth analysis, and revenue of key players.
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