07 May 2021
Visiongain has published a new report on Augmented Reality (AR) Gaming Market Report to 2031: Forecasts by component (Software, Hardware), by Display Type (Smart Glasses, Head-mounted Displays, Others), by technology (Radio-frequency Identification (RFID), Global Positioning System (GPS), Facial Recognition, Others). PLUS Profiles of Leading Augmented Reality Gaming Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Augmented reality gaming market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031. Augmented Reality (AR) gaming denotes the management of audio & visual content of a game together by providing real time experience. In addition, AR gaming helps in creating a view for the players with advance graphics, quality sound by using a device-camera, and intense video while playing games. Moreover, AR gaming focuses on connecting the virtual world with the real world & utilizes the existing environment to create a playing field and makes them operational in devices such as tablets, portable gaming systems, smartphones, laptops, and others.
Factors such as increased penetration of smartphones & internet and growing technology adoption among enterprises are driving the market growth. On the contrary, surge in investment towards incorporating AR gaming and continuous growth in the number of mobile gamers are some of the major factors expected to create an immense opportunities to the market in the upcoming years.
COVID-19 Impact on Augmented Reality Gaming Market
The spread of COVID-19 has affected several business verticals globally, however, the augmented reality in gaming sectors has increased tremendously in the midst of pandemic situation. Due to business lockdowns & shutdowns, jolted day-to-day work life, games has been rapidly increased and adopting online augmented games in the market. Therefore, the global health crisis has a positive impact on augmented reality gaming market and is expected to maintain its dominance during the forecast period.
Increased penetration of smartphones & internet
Games are largely played via smartphones & tablets and usage of such devices are continuing to rise at a tremendous growth rate in the market. Also, cheap internet facilities are becoming another growth factors to the augmented reality gaming market. Therefore, the increased usage & penetration of smartphones & internet is driving the market growth.
Growing technology adoption among enterprises
Due to increased awareness towards graphics & advance technologies in gaming sector, consumers are continuing to demand for real-time games which resulted into adoption of augmented reality technology among enterprises. Therefore, these factors are fuelling the growth of augmented reality gaming market.
Surge in investment towards incorporating AR gaming
The gaming industry is heavily investing & adopting technologies and collaboration with technology providers is expected to grow in the market. Moreover, rapid growth in manufacturers of devices offering innovative gaming solutions, which becoming major opportunistic factors to the augmented reality gaming market.
Continuous growth in the number of mobile gamers
As augmented reality is providing quality audio & visual real-time gaming experiences and rise in gaming applications across all age groups, the mobile gamers are expected to gain momentum in the market. Therefore, this increasing number of mobile gamers is expected to create promising opportunities to the augmented reality gaming market in the upcoming years.
Some of the companies profiled in the report include Apple, Inc., Aurasma, Google, Microsoft, Niantic, Inc., Nintendo Co. Ltd., Qualcomm, Siemens AG, Sony, and Visartech Inc.
In July 2020, Landlord GO, which is a London-based reality game providers has released a new AR games which allows players to buy & sell real world properties and has boosted a new real estate game that utilizes the power of AR.
In October 2019, the Information and Communications and Technology Council (ICTC) has executed partnership with the Entertainment Software Association of Canada (ESAC) in order to develop the next generation of Canadian digital talent. Therefore, this development via partnership has created major opportunities to the gaming industry in the country.
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