Mobile Augmented Reality Market Research : New Trends and Changing Parameters to Earn More Sales
Mobile Augmented Reality Market Research
Market Research Future (MRFR) has published a research report that anticipates colossal growth for the global mobile augmented reality market with 61% CAGR (Compound Annual Growth Rate) between 2017 and 2023. In terms of cash, the market is expected to rise with the US $ 70 bn by the end of the forecast period. The key factors that are driving the growth of this market include craze for next-generation mobile augmented reality, emerging IoT & artificial intelligence (AI), the popularity of wearable devices & hands-free devices, and the growing market of mobile handsets.
The global mobile augmented reality market has been segmented on the basis of application, component, end user, and region. As per the application-based segmentation, this market has been segmented into game consoles, personal digital assistants, smart glasses & wearable, smartphones, and tablets. On the basis of components, the market has been segmented into hardware and software. Further, the hardware is sub-segmented into 3D graphics system, displays, Global Positioning System (GPS), sensors, wireless network, and others. Based on the end users, the market has been segmented into enterprises, gaming & entertainment, public sectors, telecommunication, and others. Enterprises include advertising, e-commerce, and healthcare. Public sector covers the education sector, military sector, and government sector.
The regional segmentation of the global mobile augmented reality market comprises of Asia Pacific, North America, Europe, and the rest of the world (RoW). The largest regional market for mobile augmented reality is North America. Factors contributing to the growth of the market in this region include huge demand for smart devices, growing investment in smart devices and augmented reality, and technological advancement because of which, the market for technologically advanced products is always ready-made in this region. The biggest country-based markets in this region include the United States of America (USA), Canada, and Mexico.
The augmented reality sector is witnessing bold investment moves from market players in developed economies like North America and Europe. The deployment of AR is extremely easy in North America since the region boasts an advanced mobile network infrastructure. Further, intrepid investments in the development of smart devices with AR integration is only influencing an astronomical use of the augmented reality in the region. Whereas, rapid technological advancements are taking place in many developing countries such as India, China, and Japan. These countries are likely to emerge as the biggest integrators of augmented reality, thanks to several noteworthy factors supporting such integration.
Augmented reality is, although revolutionary, quite tricky to adopt; especially in countries with poor technological infrastructure. This is bound to drive up initial costs of deployment if they want to ride the wave of AR integration and not be left behind. Apart from that, the lack of awareness towards what augmented reality truly is, and how its different applications can enable better capitalization is causing the stagnation witnessed in the mobile augmented reality market, as projected by MRFR in their latest report.
Conclusively, the mobile augmented reality technology, even though it is facing off with various challenges, is extremely likely to alter the way businesses operate, generate revenue, and interact with their consumers.
More Information@https://www.marketresearchfuture.com/reports/mobile-augmented-reality-market-1048
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