Research Forecasts Huge Mobile Augmented Reality Growth By 2022
New market research by MarketsandMarkets, recently forecast huge growth in the Mobile Augmented Reality Market, which is set to be worth almost $80 billion by 2022.
The major driver for the mobile augmented reality market growth is the high penetration of smartphones and tablets. A report by Jonathan Crowl for Mobile Business Insights, suggests that this is particularly true in markets where mobile technology is not yet as prevalent, arguing that the time frame will allow mobile developers to better understand how to build Augmented Reality experiences for a mass market. Smartphones could be the most important device in driving Mobile Augmented Reality growth, since users could, for example, use smartphones to create digital overlays of information in an environment.
Nods to Augmented Reality applications in the enterprise are given, including how Augmented Reality can make contributions in education, e-retail and hospitality. Geographically, the prediction is that the highest demand will be from the Asia-Pacific region, where new technology adoption will combine with economic growth to fuel innovation in mobile.
The challenge now is for developers to understand new mobile technologies and how they might create effective augmented experiences that will be applicable across multiple industries.