Kenneth Research added a report on Augmented Reality (AR) Gaming Market into the repository of market research reports. The report includes in-depth analysis on the growth drivers, expansion opportunities, restraints and challenges and the recent trends in the market. The market is anticipated to grow at a CAGR of XX.X% during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Augmented Reality (AR) Gaming Market products.
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The Report Title Augmented Reality (AR) Gaming Market has been added by Kenneth Research, provides detailed insights of the market scenario which is further classified on the basis of market size and market volume, along with the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2021-2023.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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.
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.
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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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