Mobile Augmented Reality (AR) Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Japan, Germany, UK - Size and Forecast 2024-2028

Mobile Augmented Reality Market Size 2024-2028 

The mobile augmented reality (AR) market size is projected to increase by USD 211.97 billion at a CAGR of 45.7% between 2023 and 2028. The Mobile Augmented Reality (MAR) market is experiencing significant growth due to increasing dependence on apps and the proliferation of AR technology. AR apps are revolutionizing various activities, from shopping and entertainment to education and healthcare. AR technology is also transforming advertising, making it more engaging and effective by overlaying digital information onto the real world. The expanding smartphone and tablet market, particularly in the Asia-Pacific region, is fueling this growth. With the continuous advancement of technology and its increasing integration into daily life, the MAR market is poised for continued expansion.

The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about key companies, including Alphabet Inc., Apple Inc., Augmented Pixels Inc., Blippar Ltd., Independiente Communication Ltd., Inglobe Technologies Srl, Lenovo Group Ltd., Magic Leap Inc., mCloud Technologies Corp., Niantic Inc., Plural Technology Pvt. Ltd., PTC Inc., QuestUpon, Robert Bosch GmbH, Seabery Augmented Technology SL group, Seiko Epson Corp., VividWorks Oy, weAR Srl, Wikitude GmbH, and Zugara Inc.

What will be the Size of the Market During the Forecast Period?

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Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Alphabet Inc. - The company is involved in the mobile augmented reality market through Google LLC and its ARCore solution.

Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation 

By Application 

The market share growth by the marketing and advertisement segment will be significant during the forecast period. The market is experiencing substantial growth, driven by businesses looking to capitalize on AR's distinctive capabilities for captivating consumer attention and boosting brand awareness. AR utilizes sensors, GPS, and compass on mobile devices, including smartphones and tablets, for visualization in real-world environments. 

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The marketing and advertisement segment accounted for USD 6.03 billion in 2018. This technology is particularly prominent in the niche market of telemedicine, enabling accurate diagnoses and health interventions. AR applications on mobile devices offer virtual reality experiences, collecting user data and behavior insights for personalized and targeted content delivery. This enhances self-efficacy and engagement, making AR a valuable tool in the educational system for digital content and smart classrooms. The market includes technologically advanced, cost-effective solutions, such as AR smart glasses, which offer improved user interfaces and navigation performance. Partnerships and collaborations between companies are driving innovation in this commercial sector, producing technologically advanced and commercially viable AR products.

By End-user

The enterprise segment of the global mobile AR market utilizes mobile AR technologies, including 3D cameras, for internal operations, product development, marketing, training, and more. Across industries such as marketing, advertisement, entertainment, and education, businesses are adopting mobile AR solutions with 3D cameras to optimize training programs. These technologies provide employees with immersive, hands-on experiences in a risk-free environment, accelerating skill development and reducing errors. Remote teams can collaborate in real-time using mobile AR solutions equipped with 3D cameras, leading to a more competent and efficient workforce.

Regional Overview

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APAC is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have provided an extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
The market in North America is a significant and mature niche, driven by advanced mobile devices, sensors such as GPS and compass, and visualization techniques. AR applications in sectors like telemedicine offer accurate diagnoses and health interventions, enhancing patient self-efficacy. Mobile technologies, including smartphones, tablets, and mobile projection devices, facilitate the integration of AR into various industries. Virtual reality and user interface advancements enable seamless navigation and performance with AR smart glasses. Technologically advanced, cost-effective solutions result from partnerships and collaborations between companies, enhancing the educational system with digital content in schools and colleges through multimedia formats and online assessments. The region's receptive audience, characterized by high smartphone penetration and a culture of embracing new technology, contributes to the commercial success of AR applications.

Market Dynamics 

The market is experiencing significant growth, driven by immersive user experiences made possible by advancements in mobile device capabilities. AR technology is revolutionizing various industries, including gaming and entertainment applications, social media platforms, and health interventions. However, technical limitations and hardware requirements, such as sensors, GPS, compass, 3D cameras, and mobile projection devices, pose challenges for developers and designers. Skilled AR content creators are in high demand to address these challenges and deliver interactive applications with intuitive UI/UX designs. Security concerns are also a priority, as AR integrates with personal devices and accesses sensitive data. The market encompasses AR smart glasses, smartphones, and tablets, expanding the potential for AR in teleconferencing, virtual reality, and more. Overall, the Mobile AR market is poised for continued innovation and growth. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Market  Driver

The increasing dependence on apps and the proliferation of AR apps for numerous activities fuels market growth. The market has experienced significant growth due to advancements in mobile device technologies, such as faster processors, improved graphics capabilities, and the integration of 3D cameras. These enhancements have made smartphones and tablets more capable of handling AR applications effectively, expanding their potential user base. The widespread adoption of affordable mobile devices and the availability of high-speed internet, including 4G and 5G networks, have facilitated real-time data processing, enabling seamless AR experiences. By bridging the physical and digital worlds, AR apps offer immersive and interactive user experiences that are more engaging than traditional applications. Thus, such factors drive market during the forecast period.

Significant Market Trends

The emergence of depth-sensing cameras is an emerging market trend. The  market is experiencing significant growth due to the integration of 3D cameras, also known as depth-sensing cameras. These advanced cameras enable more immersive and realistic AR experiences by perceiving the distance of objects in the environment. This technology allows virtual content to blend seamlessly with the real world, providing users with enhanced engagement and immersion. The cost-effectiveness of depth-sensing cameras is increasing as technological advancements in camera sensors and processing capabilities become more accessible to mobile device manufacturers. As a result, consumers and businesses alike can expect more advanced and affordable AR applications on their mobile devices. Hence, such trends boost market growth during the forecast period. 

Major Market Restrain

The constraints in hardware capabilities used in mobile AR hamper market growth. The market faces challenges with older or low-end devices, as they may struggle to support complex AR experiences due to insufficient processing power and memory. This can lead to reduced performance, lower user satisfaction, and limitations in the richness and complexity of AR content. The use of 3D cameras in AR applications further increases the demand for substantial processing power, memory, and storage resources. Additionally, power consumption is a significant concern, as AR applications can drain batteries rapidly, potentially limiting the duration of outdoor experiences. Therefore, these challenges hinder market growth during the forecast period.

Exculsive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market  growth and trends strategies.

Global Market Customer Landscape

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Application Outlook
  • Marketing and advertisement
  • Gaming and entertainment
  • Education and learning
  • Travel and tourism
  • Others

• End-user Outlook
  • Enterprise
  • Consumer

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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Market Analyust Overview

In the ever-evolving digital landscape, Mobile Augmented Reality (MAR) marketing has emerged as a game-changer. AR technology integrates digital information into the real world, creating immersive experiences for consumers. The Mobile Augmented Reality market is expanding rapidly, with major players like Apple and Google investing heavily in AR development. AR devices, such as smartphones and tablets, are becoming more accessible, making AR marketing more viable for businesses. AR marketing strategies include interactive product demos, location-based advertising, and gamified experiences. Brands like IKEA and Sephora have successfully implemented AR in their marketing efforts, enhancing customer engagement and driving sales. The AR market is expected to reach significant growth in the coming years, with the potential to revolutionize industries like retail, real estate, and education. AR marketing offers businesses a unique opportunity to connect with consumers in a more interactive and engaging way, making it an essential tool for modern marketing strategies.

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What are the Key Data Covered in this Mobile Augmented Reality (AR) Market Research Report?

• CAGR of the market report forecast during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2024 and 2028
• Precise estimation of the size of the market  and its contribution in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, APAC, Europe, South America, and Middle East and Africa
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of Industry companies

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