Augmented Reality Gaming Market Growth Analysis With Investment Opportunities

The Business Research Company's Augmented Reality Gaming Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 1, 2024 /EINPresswire.com/ -- The augmented reality gaming market has experienced robust growth in recent years, expanding from $11.03 billion in 2023 to $14.32 billion in 2024 at a compound annual growth rate (CAGR) of 29.8%. The growth in the historic period can be attributed to increased smartphone adoption, advancements in AR hardware, growing developer interest, rising consumer awareness, improvements in AR content quality and graphics.

Strong Future Growth Anticipated
The augmented reality gaming market is projected to continue its strong growth, reaching $40.29 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%. The growth in the forecast period can be attributed to integration with 5G networks, emergence of cloud gaming platforms, expansion of AR in e-sports, innovations in social AR gaming, increased investment in AR startups.

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Growth driver of the augmented reality gaming market
The increase in smartphone penetration is expected to propel the growth of the augmented reality gaming market going forward. A smartphone is a compact mobile device with advanced computing capabilities, a touchscreen interface, internet connectivity, and various applications for communication, multimedia, and productivity. Smartphones use augmented reality (AR) gaming by leveraging its built-in cameras and sensors to overlay virtual elements onto the real-world environment, providing users with an interactive and immersive gaming experience.

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Major Players and Market Trends
Key players in the augmented reality gaming market include Apple Inc., Alphabet Inc., Microsoft Corporation, Sony Group Corporation, Qualcomm Technologies Inc., Hexagon AB, Niantic Inc., Magic Leap Inc., Meta Platforms Inc., Sixense Enterprises Inc., EON Reality Inc., DAQRI LLC, RE'FLEKT GmbH, Seabery S.L., Zappar Ltd., VividWorks Ltd., Marxent Labs LLC, Scope Technologies US Inc., Total Immersion Inc., Augmented Pixels Inc., Blippar Limited, Upskill VR, Ubimax GmbH, Catchoom Technologies S.L., Infinity Augmented Reality Ltd.

Major companies operating in the augmented reality gaming market are developing new products, such as geolocation-based augmented reality games, to gain a competitive edge in the market. Geolocation refers to the process or technology of identifying and determining the real-world geographic location of a person, device, or object using various methods, such as GPS (Global Positioning System), Wi-Fi, cellular networks, or sensors.

Segments:
1) By Product: Head Mounted Display (HMD), Handheld Display, Spatial Display
2) By Component: Software, Hardware
3) By Device: Mobiles, Smart Glasses
4) By Application: Commercial Use, Home Use

Geographical Insights: North America Leading the Market
North America was the largest region in the augmented reality gaming market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of augmented reality gaming.

Augmented Reality Gaming Market Definition
Augmented reality gaming refers to a type of interactive gaming experience that combines elements of the physical world with computer-generated sensory input, typically using devices such as smartphones, tablets, or AR glasses. It is used to provide a more immersive and engaging experience than traditional video games.

The main products of augmented reality gaming are head-mounted displays (HMD), handheld displays, and spatial displays. A Head Mounted Display (HMD) is a wearable device that typically resembles goggles or a helmet, allowing users to experience augmented reality (AR) by overlaying digital information onto their physical surroundings. Various types of components include software and hardware, which are used in several devices, such as mobiles and smart glasses. These are used for several application, including commercial use and home use.

Augmented Reality Gaming Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Augmented Reality Gaming Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on augmented reality gaming market size, augmented reality gaming market drivers and trends, augmented reality gaming market major players, competitors' revenues, market positioning, and market growth across geographies. The augmented reality gaming market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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