Global Augmented Reality (AR) Gaming Market Scope Report

Global Augmented Reality (AR) Gaming Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global augmented reality (AR) gaming market is estimated to garner a revenue of USD 420 Billion by the end of 2033 by growing at a CAGR of ~35% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 26 Billion in the year 2022. The primary growth factor of the augmented reality (AR) gaming market is expected to be driven by the increasing adoption of AR devices among gamers and the expansion of the entertainment applications served through these devices. Additionally, the growing demand for mixed-reality experiences will support the growth of this market. As per the reported data, in 2020, gaming has the maximum chance for AR investment. For example, USD 4.1 billion was spent on industrial servicing and USD 4.1 billion on AR education. According to AR statistics from the same year, USD 2.7 billion was spent on Augmented retail promotion.

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AR gaming also has several other benefits including training and educational applications, social networking opportunities, and entertainment purposes. These applications range from replacing classroom lectures with video replays for students who need extra help understanding complex concepts, facilitating collaborative learning between teams during business meetings, creating personalized experiences for customers while they are shopping online or at retail stores, and assisting patients receiving medical treatment at hospitals and clinics. Games implementing augmented reality are now growing in popularity due to developments in computing power and software design. Making a design or game plan that will act as the playing area for the players is the beginning step in constructing an augmented reality game. Perhaps a satellite image or 3D modeling software can be used to make this map from the beginning. As per IBEF statistics, over 14,000 teachers applied for augmented reality training, and over 500,000 students indicated an interest in online privacy including well.

Global Augmented Reality (AR) Gaming Market: Growth Drivers and Challenges

Growth Drivers

• The Growing Use of Smartphones and Tablets – As per recent data, when online, younger generations are more prefer to go for their smartphones. Most people between the ages of 18 and 29 claim they use their smartphones to access the internet.

• The Growing Use of the Internet – Only 26% of persons with a high school education or less use the internet mainly on their smartphones. Moderately, only 4% of people with a college degree and 16% of people with some college experience were in this category. Adults with lower household incomes are also more likely than those with higher incomes to only use their smartphones for internet access.

• Implementing Augmented Reality on Mobile Devices –Numerous sensors found in existing smartphones can be used for augmented reality applications. Problems specific to popular mobile devices' geomagnetic sensors appear. When paired with GPS data, information about user headings from geomagnetic sensors can be used to estimate the field of view. Sensor data must be precise and noise-free to translate the virtual AR scene into a physical coordinate space. As per recent statistics, it has a sensitivity that is more than 10,000 times greater than that of Hall sensors, enabling precise monitoring of even the smallest changes in the geomagnetic field.

• Demand for AR Chips in Medical Devices is Rising – As per recent data, during a neurosurgical procedure, a device was employed to aid the surgeon while drilling by displaying a recently virtually recreated tumor on a tablet. Another scenario is a medical student app that teaches them about gunshot wounds.

Challenges

• Creating an Engaging Experience that Users

• Maintaining User Engagement as Users have become More Accustomed to Immersive Experiences

• Lack of Widespread Adoption Among Consumer

The global augmented reality (AR) gaming market is segmented and analyzed for demand and supply by component into hardware and software. out of these, the hardware segment is anticipated to hold the largest share over the forecast period due to the higher adoption of head-mounted displays (HMDs), which are increasingly being used as adjunct devices for video games. Wearable devices such as smart glasses and band-aids are also gaining popularity as they offer enhanced user experience and functionality beyond that offered by traditional smartphones or PCs. As per recent data, for training or instructional exercises involving spatial cognition, the inexpensive projection screen might be just as useful as a head-mounted display. The used head-mounted display equipment costs about $6000 to purchase, while the screen only costs $400 to construct.

Global Augmented Reality (AR) Gaming Market Regional Synopsis

Regionally, the global augmented reality (AR) gaming market is studied in five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 on the back of the adoption of new and advanced technology by businesses such as machine learning, artificial intelligence, and others. Moreover, the increasing investment in research and development is further expected to contribute to the growth of the market in the region. According to the IBEF, 500 million more people will have access to the internet in India because of increased mobile phone adoption and falling data prices, opening up new business options. India will require 22 million skilled people in 5G-focused industries by 2025, including cloud computing, robots, and the Internet of Things (IoT).

Market Segmentation

Our in-depth analysis of the global augmented reality (AR) gaming market includes the following segments:

Key Companies Dominating the Global Augmented Reality (AR) Gaming Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global augmented reality (AR) gaming market that is included in our report are Google LLC, Microsoft, DAQRI, Sony, Niantic, Apple, Cast AR, Seiko Epson, Gamar, Blippar Limited, Nintendo, and others.

Global Augmented Reality (AR) Gaming Market: Latest Developments

• 12th January 2022: Microsoft: To modernize workflows, boost job performance, and enhance workplace culture and communication, businesses are investing in digital solutions for frontline staff. Since March 2020, frontline employees' monthly active utilization of Microsoft's Teams communication platform has increased by 400%.

• 22th June 2021: Apple: Today at Apple Creative Studios is a global program launched by Apple that will give underrepresented populations access to the full range of iPhone, iPad, and Mac products as well as career-building mentoring and professional industry skills training.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the client’s requirement helping them to see possible and unexpected challenges and unforeseen opportunities to help them reach their goal.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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