AR: Key market research findings
- Increased adoption of crowdfunding options
- Partnerships with mobile AR content creators
Technavio has released a new market research report on the global mobile AR market, which is expected to generate revenues of $33 billion between 2016 and 2020. Of late, the market is witnessing the proliferation of mobile augmented reality (AR) apps among consumers using smartphones and tablets across the world. Automotive, fashion, logistics, healthcare, and retail sectors are the major end-users of augmented reality apps and technologies. EMEA is the largest revenue-contributing region in the movile AR market, thanks to the presence of many prominent AR brands, such as Blippar, Metaio, and Wikitude, in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Vendors are adopting several crowdfunded strategies to help the providers in raising enormous funds for AR developments. It enables direct interaction with potential buyers and has increased awareness among potential customers by providing tremendous opportunities to small vendors to innovate and succeed in a stiff competition. For instance, during 2015, Prynt launched a crowdfunding campaign on Kickstarter for its Prynt smartphone case with AR functions. Through scanning, the camera can convert still images into video clips,” says Sunil Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
Augmented reality creates a digital layer over the physical world, offering consumers with an enhanced experience. Vendors in the AR technology space are creating a mobile app to view this augmented world and are collaborating with different vendors across the supply chain to support and boost the development of AR technology. For instance, Zappar has collaborated with some leading content creators such as Warner Bros, Universal Studios, Hasbro, and Sony.
The leading vendors in the global mobile AR market include Augmented Pixels, Aurasma, Blippar, Catchoom, DAQRI, Metaio, and Wikitude. The market is in its nascent stage of growth. The number of successful and established vendors is few despite the presence of multiple providers in the market. Most of the revenue generated is split between app developers and agencies. In this market, the technology providers have the lowest revenue share, whereas, the startups are turning to crowdfunding platforms to develop innovative AR apps. Well-established technology companies like Epson, Facebook, Google, HP, Intel, Microsoft, Nokia, and Qualcomm could become some of the big names in the industry during the forecast period.
A more detailed analysis is available in the Technavio report, Global Mobile AR Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Mobile Augmented Reality Market in the US 2015-2019
- Mobile Augmented Reality Market in China 2015-2019
- Global Augmented Reality Market 2015-2019
- Global Head Mounted Display Market 2015-2019
Further readings:
- Top Mobile Augmented Reality Companies for Marketing and Advertising
- Augmented Reality is Unavoidable: Buy-In from Industry Behemoths Will Solidify Ubiquity of AR
- Augmented Reality is here, and ready to Take Over the Japanese Market
- Augmented Reality Is Changing the Way We Work, Learn, and Tell Stories
- Augmented Reality Revamping Infotainment in the Automotive Industry
