The global mobile AR and VR apps market was valued at more than USD1 billion and is expected to surpass USD40 billion by 2020, says Technavio.
Technavio has announced its latest market research report on mobile AR and VR apps for the forecast period, 2016-2020. This market analysis, under the human machine interface vertical, discusses the major drivers and key emerging trends that will influence the growth of the global mobile AR and VR apps market during the forecast period. Some of the top vendors listed in this industry analysis include Augmented Pixels, Aurasma, Blippar, Catchoom, DAQRI, and Wikitude.
In terms of geographical analysis, the Americas is expected to become the dominant shareholder in the global market by accounting for a revenue of almost USD19 billion by 2020. The US will emerge as the key revenue-generator.
“At present, the emergence of depth-sensing cameras is an upcoming trend in the global market. Depth-sensing cameras are sensor-enabled cameras that can scan 3D objects. They have the potential to open up new possibilities in gaming, photography, and online trade applications. Depth-sensing cameras assist users build a gaming terrain by scanning the environment within their homes,” says Sunil Kumar Singh, a lead analyst at Technavio for human machine interface.
Click here to request a free sample of this report
The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
High penetration of AR technology in advertising sector
AR advertisements are immersive and interesting, making them ideal for advertisers and viewers. The advertising market in the US was valued at USD185 billion in 2015. As mobile users in the US are spending more time on their devices, advertisers are focusing on capturing a wider audience through AR advertisements. By pointing the smartphone at a product in a store, a customer can obtain all the information about a product. It gives the customer an opportunity to view the product from different angles. Some of the leading advertising companies like BBDO, McCann Erickson, Leo Burnett Company, and JWT are creating ads integrated with AR technology.
Increase in penetration of VR headsets
VR uses synchronized sound and sight with data suites, which make VR headsets more effective with sensors embedded in them. The number of gamers that prefer VR over traditional gaming devices have increased. In addition, the adoption of VR headsets is increasing because of the growing spending capability of the people. The rise in disposable income of the population has made mobile devices more affordable for consumers. The majority of the revenue in the global mobile AR and VR apps market is generated through hardware sales, live viewing formats, and spectator content.
Adoption of crowdfunding strategies
Vendors in the global mobile AR and VR apps market are increasingly adopting crowdfunding strategies to raise funds for their projects. It increases awareness among potential customers and provides ample opportunities for small vendors to innovate and succeed in this competitive environment. Crowdfunding allows vendors to predict customers’ interest in their products. It enables direct interaction with potential buyers by involving them in the product development stage, ultimately helping vendors to manufacture the right products based on customers’ requirements.
Some of the other prominent vendors identified in this report are 8i, Alphaeon, AltspaceVR, Alchemy VR, Apple (Metaio), Blippar, CCP Games, EEVO, Facebook, Google, GoPro, High Fidelity, HTC, Improbable, Infinity Augmented Reality, Inglobe Technologies, Jaunt, Legend3D, Linden Lab, Marxent, Matterport, Movidius, MyDreamVR, NextVR, NGRAIN, Nod Labs, Reload Studios, Resolution Games, uSens, Virtalis, Virtuix, Viscira, VividWorks, VRideo, Seabery, Snaploader, Total Immersion, and WorldViz.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Mobile AR and VR Apps Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Virtual Reality Content Market 2016-2020
- Global Augmented Reality Market for Gaming 2016-2020
- Global Automotive Augmented Reality Market 2016-2020
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
