Mobile Augmented Reality (MAR) Global Market Report 2024

The mobile augmented reality (MAR) market size has grown exponentially in recent years. It will grow from $20.54 billion in 2023 to $27.57 billion in 2024 at a compound annual growth rate (CAGR) of 34.3%. The expansion observed during the historical period can be attributed to the demand for immersive user experiences, the rise in app-store revenue driven by in-app and premium app purchases, the adoption of AR smart glasses in enterprise settings, and the increased utilization of augmented reality (AR) in retail and e-commerce applications.

The mobile augmented reality (MAR) market size is expected to see exponential growth in the next few years. It will grow to $90.56 billion in 2028 at a compound annual growth rate (CAGR) of 34.6%. The anticipated growth in the forecast period can be attributed to the increasing adoption of AR technology across various sectors, the growing popularity of AR entertainment applications, the integration of AR into social media platforms, the thriving online gaming industry, and the widespread deployment of 5G technology. Significant trends expected in the forecast period include the development of innovative AR applications, investment in AR content creation and delivery platforms, collaboration with mobile device manufacturers to optimize AR experiences, expansion into emerging markets with untapped AR potential, and strategic partnerships with both AR software and hardware providers.

The upward trend in consumer adoption of smartphones and tablets is expected to drive the growth of the mobile augmented reality (MAR) market in the future. Smartphones and tablets are portable electronic devices equipped for communication, computing, and multimedia consumption, featuring touchscreen interfaces and various connectivity options. Their enduring demand stems from their convenience, versatility, and ability to provide access to a wide array of communication, entertainment, and productivity features while on the move. Leveraging mobile augmented reality (MAR), smartphones and tablets enhance user experiences by overlaying digital information or virtual objects onto the real-world environment through their built-in cameras and sensors. This enables immersive interactions and applications spanning gaming, navigation, education, and shopping. For example, as of February 2023, Uswitch Limited reported 71.8 million mobile connections in the UK, marking a 3.8% increase (around 2.6 million) from 2021. With the UK population expected to reach 68.3 million by 2025, approximately 95% (around 65 million individuals) are projected to own smartphones. Hence, the expanding consumer adoption of smartphones and tablets is propelling the growth of the mobile augmented reality (MAR) market.

Leading companies in the mobile augmented reality (MAR) market are innovating by developing advanced solutions utilizing cutting-edge platforms like the Vuzix Ultralite OEM platform to better cater to customers with enhanced features. The Vuzix Ultralite OEM platform is a mobile augmented reality (AR) solution offering lightweight and compact hardware components for integration into various mobile AR devices such as smartphones, tablets, or smart glasses. For instance, in January 2024, Vuzix Corporation unveiled the Vuzix Z100 smart glasses, a mobile augmented reality device facilitating seamless connectivity between workers and artificial intelligence optimization tools. These glasses serve as a wearable interface between AI applications and human workers, delivering critical updates, workflow confirmations, and notifications in real time. Featuring advanced monocular waveguide optics and a custom microdisplay engine, they provide hands-free access to vital information on users' Android or iOS devices.

In June 2023, Apple Inc. acquired Mira to enhance its mobile augmented reality capabilities by leveraging Mira's expertise in AR hardware, software development, and immersive experience creation. Mira, a US-based provider of mobile augmented reality (AR) solutions, specializes in augmented reality headsets.

Major companies operating in the mobile augmented reality (MAR) market are Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Novac Technology Solutions, Lenovo Group Limited, Panasonic Corporation, Continental AG, Xiaomi Corporation, Seiko Epson Corporation, Sony Semiconductor Solutions Corporation, Snap Inc., PTC, TeamViewer AG, Magic Leap Inc., HTC Corporation, Vuzix Corporation, WayRay AG, EON Realty Inc., SoluLab Inc., Kaon Interactive Inc., Blippar Group Limited, Scope AR, Wikitude GmbH.

North America was the largest region in the mobile augmented reality (MAR) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the mobile augmented reality (MAR) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mobile augmented reality (MAR) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Mobile augmented reality (MAR) encompasses the integration of digital information or virtual objects into the real-world environment using mobile devices like smartphones or tablets. This technology superimposes computer-generated images, videos, or information onto the user's physical surroundings, typically utilizing the device's camera and screen.

The primary types of mobile augmented reality (MAR) include marker-based, markerless, and anchor-based approaches. Marker-based mobile augmented reality involves overlaying digital content onto the physical world using markers, which are typically images or objects recognized by the mobile device's camera. This enables interactive experiences such as games, educational content, and marketing initiatives. Various offerings in this realm include software and services tailored to a range of devices including smartphones, tablets, personal digital assistants (PDAs), handheld gaming consoles, among others. MAR finds applications across diverse sectors including consumer electronics, aerospace and defense, healthcare, commercial ventures, enterprise solutions, and more.

The mobile augmented reality (MAR) research report is one of a series of new reports that provides mobile augmented reality (MAR) market statistics, including the mobile augmented reality (MAR) industry's global market size, regional shares, competitors with a mobile augmented reality (MAR) market share, detailed mobile augmented reality (MAR) market segments, market trends and opportunities, and any further data you may need to thrive in the mobile augmented reality (MAR) industry. This mobile augmented reality (MAR) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The mobile augmented reality (MAR) market consists of revenues earned by entities through advertising solutions, navigation assistance, educational tools, or immersive storytelling experiences. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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