Mobile Augmented Reality Market Size, Share, Growth Analysis, By Device Type(Smartphones, Tablets, Personal Digital Assistants (PDAs), and Others), By Application(Consumer, Healthcare, Enterprise, Commercial), By Region - Industry Forecast 2024-2031

Global Mobile Augmented Reality Market size was valued at USD 16.51 billion in 2022 and is poised to grow from USD 21.63 billion in 2023 to USD 187.58 billion by 2031, at a CAGR of 31% during the forecast period (2024-2031).

The global mobile augmented reality market is highly competitive, with several key players vying for market share and striving to innovate in this rapidly evolving industry. The competitive landscape is characterized by a mix of established technology giants, innovative startups, and niche players, each contributing to the advancement and growth of the market. Apple Inc., one of the frontrunners in the mobile augmented reality market, has made significant strides with its ARKit platform, providing developers with tools to create immersive augmented reality experiences for iOS devices. Google LLC, with its ARCore platform, has also been actively driving the adoption of mobile augmented reality by offering developers a framework to build AR applications on Android devices. Microsoft Corporation has made notable contributions through its HoloLens mixed reality headset, targeting enterprise and industrial applications. 'Apple Inc. (US)', 'Google LLC (US)', 'Microsoft Corporation (US)', 'Facebook, Inc. (US)', 'Niantic, Inc. (US)', 'Magic Leap, Inc. (US)', 'Snap Inc. (US)', 'Unity Technologies (US)', 'Vuzix Corporation (US)', 'PTC Inc. (US)', 'Blippar Ltd. (UK)', 'Zappar Ltd. (UK)', 'Wikitude GmbH (Austria)', 'Samsung Electronics Co., Ltd. (South Korea)', 'Sony Corporation (Japan)', 'Qualcomm Incorporated (US)', 'Lenovo Group Limited (China)', 'HTC Corporation (Taiwan)', 'DAQRI LLC (US)', 'Marxent Labs, LLC (US)'

In 2022, there were notable advancements in augmented reality hardware, including smartphones and smart glasses. Companies like Apple, Samsung, and Microsoft introduced devices with improved processing power, higher-resolution displays, and enhanced camera capabilities, enabling more immersive and realistic mobile augmented reality experiences.

AR Cloud and Persistent AR: In 2022, there was a growing focus on AR Cloud technology, which enables the persistent anchoring of virtual objects in real-world locations. This trend allows for shared AR experiences, seamless object recognition, and persistent digital content, enhancing the overall mobile augmented reality experience.

North America holds a significant share in the global mobile augmented reality market. The region is home to major technology companies and has a high smartphone penetration rate. The United States, in particular, is a key contributor to the market's dominance in North America. The presence of leading tech giants, such as Apple, Google, and Microsoft, who have invested heavily in augmented reality, has fueled the growth of the mobile augmented reality market in the region. North America has witnessed widespread adoption of mobile augmented reality applications in various sectors, including gaming, entertainment, and retail. The region's strong ecosystem of developers, content creators, and AR technology providers further strengthens its position as the dominating region in the global market.