Award-winning market analysis company Future Business Insights is researching both short-term and long-term forecasting promising growth opportunities on the mobile augmented reality technology ventures. By 2030 the market is expected to reach a US$ 24 billion valuation. Mobile Augmented Reality (AR) is a relatively young technology that has created a lot of hype particularly among the youngsters. Mobile AR is built to create immersive experiences and has carved a niche for itself in the gaming industry. The introduction of sophisticated virtual reality games over the years has revolutionized the market for smartphone ARs.
Owing to the increasing proliferation of ICT apps, most notably tablets and smartphones in emerging and developed regions, Mobile AR has also seen a significant surge. Mobile AR has made significant contributions to the development of office space, museums, and gaming experiences from the most remote parts of the planet to the densest urban centers. In particular, given the COVID-19 pandemic the market has gained significant momentum. Since offices, educational institutions, and workplaces remain closed to impose social distancing, people rely heavily on the virtual network for their daily work to continue. In live video sharing, conferencing, educational events, gaming and retailing, a notable upsurge was observed, providing software technology vendors with the ability to implement technologically innovative and user-friendly interfaces.