The global mobile augmented reality (AR) market was valued at~12.59 billion in 2020. The market is forecast to grow at a CAGR of ~31.38% during the forecast period from 2021-2027. 

AR applications for mobile phones are currently among the fastest-growing industries. AR on mobile devices is based on the broad distribution of tablet and smartphone hardware. As augmented reality technology becomes more powerful and cheaper, mobile devices supporting AR continue to grow rapidly. Furthermore, new hardware possibilities, including mobile projectors, are being introduced to enable mobile AR applications. 

Additionally, mobile AR opens up the possibility for certain types of health interventions to be delivered to patients wherever they may be and at any time. As mobile technologies become more and more ubiquitous, they will become increasingly popular for health interventions due to their popularity and familiarity with patients. Aside from the fact that many patients have these devices already, AR technology is also more affordable than virtual reality. The adoption of AR applications and the belief that patients will be able to engage with these interventions can be enhanced by many of these factors. 

Factors Affecting the Global Mobile Augmented Reality (AR) Market

• The mobile augmented reality (AR) market size is forecast to grow significantly during the forecast period. Several factors are driving mobile augmented reality (AR) market growth, including the high level of use of AR in the healthcare industry growth of the retail sector, and the rapid adoption of AR technology by tourism and education sectors.
• The limited user interface for AR apps hinders their performance and, in turn, the global market's growth.
• With the increasing adoption of AR smart glasses, there are likely to be opportunities for mobile augmented reality (AR) developers.

Covid-19 Impact on the Global Mobile Augmented Reality (AR) Market 

• Due to a slowdown in OEM production and a decline in demand for mobile devices and other electronic devices, the mobile AR market has shrunk slightly. 
• There has been a significant impact on global supply chains due to component and material shortages. The global economy has also been hindered by budget cuts and delays in planned projects across a variety of industries. 
• Despite this, the AR technology has gained traction post-Covid-19 due to its benefits in visualization, annotation, and storytelling. Through AR, users can access cultural events and participate in online learning, overcoming the isolation of lockdowns. Many countries including China, Japan, South Korea, and India are preparing a preemptive response in the form of lockdowns and social distancing to control the outbreak. 
• Vaccines are now available on a global scale and pandemic control has improved, particularly in North America and Europe. The mobile augmented reality (AR) market would benefit from this.

Regional Outlook: The Global Mobile Augmented Reality (AR) Market 

There have been several companies producing AR-based products in Japan and China in recent years, fueling the growth of the Mobile Augmented Reality market in the region. There is a lot of investment expected in new technological developments in Japan, India, and China because of the growing consumer and commercial applications. Due to the widespread availability of Augmented Reality technology in the region, augmented reality has grown in popularity in both commercial and consumer applications for the Asia Pacific region. In the region, Augmented Reality technology enabled the market to grow faster than ever with smartphones and tablets. In the coming years, the global Mobile Augmented Reality market will grow most rapidly in Asia and the Pacific region.

Key Market Players: The Global Mobile Augmented Reality (AR) Market

The global mobile augmented reality market is segmented by Application, Device Type, Component, and Region.

Segmentation based on Application

• Consumer
• Healthcare
• Enterprise
• Commercial
• Aerospace & Defense
• Others

Segmentation based on Device Type

• Smartphones
• Tablets
• Personal Digital Assistants (PDAs)
• Others

Segmentation based on Component

• Hardware      
  • 3D Camera   
  • Sensors
  • Processor      
  • Others         
• Software   
• Services   

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America