Increased integration of AR into mobile devices and demand for innovative gaming devices are contributing to the growth of AR gaming market at a CAGR of 152.7% during the forecast period 2017–2023
Increase in online gaming population, advancements in video gaming industry, and innovations in IoT and gaming technologies are driving the AR gaming market growth. The leading technology segment – RFID – is expected to grow at a CAGR of 154.2% during the forecasted period.
Infoholic Research LLP, a global market research and consulting company, has published a study titled “AR Gaming Market – Drivers, Opportunities, Trends, and Forecasts: 2017–2023” (June 2017).
According to Infoholic Research, the AR gaming market will experience significant growth during the forecast years due to the increased integration of AR into mobile devices, growing mobile gaming market and increasing online gamers all over the world. The technology advancements in video gaming industry will also contribute to the market growth and the global online gamers are expected to cross 3 billion by 2030. The AR gaming market is expected to grow at a CAGR of 152.7% during the forecast period 2017–2023 to touch an aggregate of $284.93 billion by 2023.
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“Currently, AR gaming market will enable gamers to witness immersive gaming experience with the augmentation of digital information with real world environment. The market is an attractive space for technology providers, device manufacturers, and OEMs to expand their business in various regions. The technology segment holds enormous opportunities in the next 3–4 years due to increasing internet penetration and innovation in gaming, bigdata and IoT technologies.” – Praveen Kumar S, Research Analyst at Infoholic Research
The report is segmented by types, devices, technologies, technology adopters, and regions. The devices segment is playing a significant role in offering innovative, high-quality gaming devices to the gamers. In the ongoing connected world, gaming has become an essential part in individual’s daily activities. Gaming adopters adopt AR gaming to lead stress free life and witness immersive gaming experience. The gaming companies are trying to adopt innovative AR technologies in traditional gaming to offer immersive gaming experience to the gamers. In line with this, major organizations are hugely spending on the innovations in both gaming devices and technology to offer attractive gaming devices and high quality gaming services to their customers. The smartphones are having huge growth in the market due to rise in mobile subscribers and availability of innovative mobile for less price and smartphones segment is growing at a CAGR of 150.9% during the forecast period.
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As per the technology analysis, RFID is expected to outperform and grow at a CAGR of 154.2% during the forecast period. The growing demand for implementation of IoT-based applications, increasing internet penetration, and demand for innovative chip design for smartphones and gadgets create significant opportunities for RFID. Motion tracking technology will play a major role driven by the increased popularity of location based games such as Pokémon Go. A lot of small and medium technology providers are expected to enter the market within the next decade.
As per the technology adopters, innovators play a significant role in AR gaming market mainly due to the increase in interest from people for multi-screen video gaming. Lot of investments have been made for the advancements in gaming technologies by both large enterprises and SMEs. Early majority segment will have a prominent growth in the forecast period.
As per the regions study, Americas is set to be the leading region for AR gaming market growth followed by APAC. In APAC, the market will improve due to the growing gaming population and government initiatives for the development of digital infrastructure. MEA is set to be the emerging region for AR gaming market growth. The rising investments from regional governments and crowdfunding for manufacturing, innovations in IoT technology, smart city projects, and increasing urban population in the developing countries are expected to drive the market growth during the forecast period. APAC market is expected to grow at a CAGR of 152.9% during the forecast period.
The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report not only highlights users’ conundrum (challenges and barriers to adopting AR gaming) but also brings in their perspective on the AR gaming market
- The market has been analyzed by taking into account the key regions – Americas, Europe, APAC, and MEA
- The market is analyzed based on types, devices, technologies, technology adopters, and regions
- The report analyzes the top 8 players in terms of market reach, business strategy, and business focus
- Provides an in-depth analysis of the key business opportunities in each technology types
- Competitive benchmarking analysis to optimize short term and long term strategy of the organizations
- Stakeholders’ insights and key trends (current and future) of the market
Scope of the Report:
The research report categorizes the “AR Gaming” market into the following segments and sub-segments:
- Types: Market Size and Analysis
- Devices: Market Size and Analysis
- Smart Glasses
- Technologies: Market Analysis
- Motion Tracking
- Technology Adopters: Market Size and Analysis
- Early Adopters
- Early Majority
- Regions: Market Size and Analysis
Ms. Sunanda Ganguli
Infoholic Research LLP