The mobile augmented reality is a new and advanced technology feature of mobile application that delivers real time base services to the users. The mobile augmented reality is also been widely used for providing the location-based service that assist in updating the geographical position of the device. The rise in advance technology is considered to be key factor leading to growth of AR application. Moreover, advance the feature related to hardware, software, and smartphone, tablets is excepted further support the mobile AR technology market.
As per analysis, “Europe Mobile Augmented Reality (MAR) Market by Technology, Component, Mobile Device, Industry Vertical, End-user, and Country 2020-2026: Trend Forecast and Growth Opportunity” the key companies operating in the Europe Mobile Augmented Reality (MAR) market include Catchoom Technologies, S.L., Apple Inc., Blippar Ltd., DAQRI LLC, Augmented Pixels, Atheer, Inc., Aurasma, Infinity Augmented Reality, HTC, Cinoptics, Laster Technologies, Google, LLC, Lumus Ltd., Optinvent S.A., Meta, Qualcomm Technologies Inc., Microsoft Corp., Rockwell Collins, Technical Illusions, Samsung Co Ltd., Total Immersion, Wikitude GmbH, Total Immersion, Vuzix Corp., Universal mCloud Corp. (NGRAIN), WeAR Studio, Zappar and among others.
By technology, Europe Mobile Augmented Reality (MAR) market can be bifurcated as marker-based MAR (active and passive MAR) and marker-less MAR (image-based processing and model-based processing). By component, market can be bifurcated as hardware (semiconductor component, 3D cameras, sensors, displays, and others) and software (enterprise and consumer). By mobile device, market can be bifurcated as smart glasses & wearable, Personal Digital Assistants (PDAs) & handheld game consoles, tablets and smart-phones. By industry vertical, market can be bifurcated as healthcare, retail & e-commerce, healthcare, entertainment & media, gaming, aerospace & defense, manufacturing, education & e-learning, and others. Additionally, by end-user, market can be bifurcated as consumer and enterprise (small & medium sized enterprises and large enterprises). Enterprise segment includes numerous industries such as marketing, aviation, advertising, education, retail, healthcare, logistics, and tourism, which use augmented reality for commercial purposes.
Rise in demand for mobile augmented reality from retail sector to enhance consumers shopping experience, followed by increase in online gaming activities during Covid-19 pandemic and surge in adoption of augmented reality technology by travel & tourism and education sectors are some major factors, which are responsible for growth of the Europe Mobile Augmented Reality (MAR) market. Apart from this, limited user interface affecting navigation performance of augmented reality apps and limited processing power & storage capacity are major hindering factors for market. Moreover, unique value proposition through social media apps, rise in demand for augmented reality technology from automotive sector and high focus of armed forces on digitalization coupled with rise in demand from aerospace industry are leading opportunities for market. Furthermore, requirement to reconfigure & redesign augmented reality apps for different platforms or applications is a major challenge for global market.
It is estimated that future of the Europe Mobile Augmented Reality (MAR) market will be optimistic on account of growth in mobile devices and enhancements of location-based services during the forecast period.
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Ankur Gupta, Head Marketing & Communications