Global Augmented Reality (AR) Gaming Market Research Report 2023
Summary – A new market study, “Augmented Reality (AR) Gaming Market – Global
Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023”has been featured on WiseGuyReports.
Augmented Reality (AR) Gaming Market – Global Drivers, Restraints,
Opportunities, Trends, and Forecasts to 2023
Overview:
The augmented reality (AR) offers an innovative technology that includes
digital information thereby providing a composite view to the user and in
real-time. The AR technology has been around since 1960, but the name was given
in 1990 by Thomas Caudell. The AR technology allows gamers to scan physical
world with an augmented experience by providing digital information. The
increasing penetration of smartphones and tablets, internet penetration, and
integration of AR into mobile devices are the major factors driving the market
growth.
ALSO READ: https://www.openpr.com/news/2103711/augmented-reality-ar-gaming-market-2020-global-analysis-by-key
The growing affordability and availability of AR games in mobile devices
is a prime factor driving the market growth. Many organizations are hugely
investing in the advanced solutions that integrate AR games into mobile
devices, enabling them to improve client experience, enrich business expansion,
and increase the revenue during the forecast period. Data security breach is
the major concern for the market. The market is segmented into types of gamers,
gaming devices, and regions which includes Americas, Europe, APAC, and MEA. The
major companies such as Microsoft, Google, Apple, Sony, and Nintendo are investing
in the incorporation of AR technology into their products and offering enhanced
gaming features to the customers.
Market Analysis:
According to Infoholic Research, the “AR Gaming Market” is expected to
reach $284.93 billion by 2023, growing at a CAGR of 152.7% during the forecast
period 2017–2023. Increasing integration of AR into mobile devices, growing
online population, innovations in gaming technology, and demand for IoT-based
applications are forcing the organizations to integrating AR into their
traditional gaming. The increasing online gamers and internet penetration are
some of the additional factors contributing to the market growth.
Product Analysis:
The devices are the major end-products playing a prominent role in
fulfilling the demands of customers. The devices segment holds a prominent
market share and is expected to reach $222.33 billion by 2023. A number of
start-ups are entering the market to offer attractive designs and innovative
features in gaming devices to the customers. The innovations in IoT and
increasing R&D investments from big organizations for the enhancement of
the devices are also contributing to the market growth.
Technology Analysis:
Technology is the major boosting factor for the AR gaming market. The
major technology providers have collaborated with device manufacturers to offer
innovative gaming solutions, which enable gamers to enjoy the immersive gaming
features. While new players are entering the market, the key players are trying
to acquire them to gain their technical knowledge for the betterment of their
product portfolio. The technology segment market is further segmented into
RFID, GPS, motion tracking, and others. At present, in 2017, RFID technology is
having a major market share and is expected to grow at a CAGR of 154.2% during
the forecast period 2017–2023.
Regional Analysis:
At present, the Americas is having the majority of the market share
mainly due to the advancements in technology and its adoption. The market is witnessing
a prominent growth in the countries such as the US and Canada. Europe is
spending hugely in the manufacturing of innovative gaming devices. The
developing regions such as Asia Pacific will be boosting the market growth
during the forecast period. The regional government initiatives for developing
smart city projects and increasing FDI for the development of digital
infrastructure in the region are the main factors contributing to the market
growth. The MEA region is expected to have a positive growth in the market, as
the regional governments are spending hugely on the development of
infrastructure which will offer huge opportunities for the key players to
provide innovative solutions in the region.
Key Players:
The key players covered in the report are Microsoft, Google, Apple, Sony,
Nintendo, Niantic, Cast AR, and Gamar.
Competitive Analysis:
The study covers and analyzes the “AR Gaming” market. Bringing out the
complete key insights of the industry, the report aims to provide an
opportunity for players to understand the latest trends, current market
scenario, government initiatives, and technologies related to the market. In
addition, it helps the venture capitalist in understanding the companies better
and take informed decisions.
Benefits:
The report provides an in-depth analysis of the AR gaming market aiming
to offer gamers with immersive gaming experience by embedding digital
information such as audio, video, and data into the real-world environment in
real time. The report talks about types, devices, technology, technology
adopters, and regions. With the information offered, key stakeholders can know
about the major trends, drivers, investments, vertical player’s initiatives,
and PPPs interest towards the adoption of AR technology into the gaming
industry. Further, the report provides details about the major challenges going
to impact the market growth. The report also covers the profiles of the major
companies.
Key Stakeholders:
Device manufacturers, network providers, software providers, data
security solution vendors, policy makers, standard development organizations,
investor community, university researchers, blog writers, and technology
magazines.
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