The global augmented reality gaming market reached a value of US$ 4.7 Billion in 2020. The market is currently being driven by the technological advancements, coupled with a rising number of mobile gamers. Augmented reality, also known as AR, is the integration of digital information with the real time environment of the user. In gaming, unlike virtual reality, augmented reality utilises existing environment and enhances it with an overlay of distinct features. In addition to this, augmented reality helps in creating a view for the players with intense video, graphics and sound by using a device-camera. For games on smartphones, augmented reality has become an important tool as it enables the gamers to create their own characters, targets and racing terrains. It also enables them to scan their local surroundings so as to invite their neighbors and create a virtual track. Looking forward, IMARC Group expects the global augmented reality gaming market to reach a value of US$ 28.60 Billion by 2026, exhibiting a CAGR of 34.80% during 2021-2026.
Global Augmented Reality Gaming Market: Drivers/Constraints:
- The technology for augmented reality is new and has immense potential. Over the years, various large manufacturers have introduced numerous augmented reality applications which have presented the gamers with new ways to interact with the real world.
- The continuous rise in the number of mobile gamers has created a positive impact on the demand for augmented reality games. We expect this trend to continue during the next five years.
- China, the United States and Japan currently represent the key demand drivers for this market.
- The initial cost of obtaining a high-quality augmented reality game equipment is high which makes it difficult for ordinary consumers to afford a console.
- Based on the component, the market has been segmented as software and hardware.
- Based on the technology, the market has been segmented into RFID, GPS and mobile tracking.
- Based on the device type, the market has been segmented as mobiles, HMDs and smart glasses.
- On the basis of types of games, the major segments covered include racing games, adventure games, fighting games, shooting games, mystery thriller games, puzzle games and science fiction games.
- Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being Augmented Pixels, Aurasma, Blippar, Catchoom, Infinity Augmented Reality, Metaio, Qualcomm, Total Immersion, VividWorks, Wikitude and Zappar.
- This report provides a deep insight into the global augmented reality gaming market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the augmented reality gaming market in any manner.
Key Questions Answered in This Report:
- How has the global augmented reality gaming market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global augmented reality gaming market?
- What has been the impact of COVID-19 on the global augmented reality gaming market?
- What are the major segments in the global augmented reality gaming market?
- What are the key technologies in the global augmented reality gaming market?
- What are the key device types in the global augmented reality gaming market?
- What are the major types of games in the global augmented reality gaming market?
- What are the various stages in the value chain of the global augmented reality gaming market?
- What are the key driving factors and challenges in the global augmented reality gaming market?
- What is the structure of the global augmented reality gaming market and who are the key players?
- What is the degree of competition in the global augmented reality gaming market?