Augmented reality (AR), an innovative technology that displays an upgraded perspective of present reality, is progressively picking up acceptance over enterprises. AR based applications empower clients to view data connected with the physical items in the area, in this manner upgrading the client experience. Augmented reality offers an interactive experience enhancing real world, rather than creating an entirely artificial environment around the user. AR can potentially supplement the physical environment with information perceptible by all human senses.
Platforms by which enterprises can implement AR can be through mobile and wearable devices. Mobile based applications are aiding organizations enhance their current procedures and review client experience. Mobile devices that are potentially capable of AR interface uses location based computing and services to offer innovative way of interaction with the user.
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Use of mobile based AR applications are progressively picking up prominence in the market. Such applications influence the various smart features accessible on cell phones, similar to accelerometer, large displays with multi-touch capabilities, global positioning system (GPS), faster processors, graphic processing units (GPU) and high internet speed. The global mobile augmented reality market is highly fragmented across verticals, requiring technology providers to understand distinct differences and requirements of different industry verticals. Mobile augmented reality has various application area that include construction and assembly, maintenance and inspection, navigation and tourism, marketing and advertising and more.
Global Mobile Augmented Reality Market: Drivers and Restraints
The high penetration of smartphones and tablet is expected to drive the growth of global mobile augmented reality market. Widening application of augmented reality in new sectors such as tourism and E-commerce, is encouraging key vendors to invest in mobile augmented reality positively impacting the global mobile augmented reality market.
Mobile devices that support augmented reality are becoming more powerful and less expensive. Emerging hardware possibilities such as mobile projection devices that allow new type of AR applications to function, generation of 3D models of real objects with increasing adoption of 3D cameras are enabling the big players to invest in the R&D of mobile augmented reality, driving the growth of global mobile augmented reality market.
One of the prime challenge faced by the key vendors in mobile augmented reality market is rate of adoption is low due to complexities in the design, this impacts negatively. Other factors such as lack of awareness among the people about augmented reality, high cost of creation, technological limitation and privacy concerns hinders the acceptance of mobile augmented reality products hampering the growth of global augmented reality market.
Global Mobile Augmented Reality Market: Segmentation
Global mobile augmented reality market can be segmented on the basis of component type, application, vertical and region. On the basis of component type, global mobile augmented reality market can be segmented into hardware and software. Hardware segment can be sub-segmented into displays, sensors, 3D cameras and others. On the basis of application, global augmented reality market can be segmented into smartphones, tablets, wearable, gaming console and others. On the basis of vertical, global mobile augmented reality market can be segmented into gaming, sports and entertainment, retail, e-learning and others. On the basis of region, global mobile augmented reality market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa.
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Global Mobile Augmented Reality Market: Regional Outlook
North America and Western Europe dominates the mobile augmented reality market as many PC game developer companies are situated in these regions. Asia Pacific Excluding Japan is expected to have the highest growth during the forecast period as the adoption rate of new technologies and demand for smartphones and tablets is high in this region.
Global Mobile Augmented Reality Market: Competition Landscape
Key vendors in the global augmented reality market include Augmented Pixels Inc., (HP development Company L.P.) - Aurasma, Nintendo, Layar – (Blippar Group), DAQRI, Catchoom, Wikitude GmbH, and Holition
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