Global Augmented Reality Gaming Market: Insights, Growth, Size, Comparative Analysis, Trends and Forecast 2022 – EIN News
PUNE, MAHARASHTRA, INDIA, March 30, 2022 /EINPresswire.com/ — According to Absolute Markets Insights report, products segment accounted for the highest market share in 2021 in the global augmented reality gaming market. The growth of the products segment can be attributed to the significant demand for augmented reality gaming products due to its features such as immersive gameplay, entertainment, and control. In addition, rising development of innovative augmented reality gaming technology solutions is projected to boost growth of this segment. For instance, in November 2019, Apple Inc. announced its plans to launch the AR headset powered by two processors.
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Over the years, the augmented reality gaming market is seeing significant growth due to emerging trend of mobile AR gaming. This type of gaming mainly refers to the synchronization of audio and visual content of a game with the user’s environment in real time. There is considerable demand for augmented reality in the entertainment industry as it provides an interactive style of game play. Furthermore, the global augmented reality gaming market is seeing heavy investments, creating lucrative growth opportunities. For instance, in January 2022, BOTS, Inc., the blockchain technology conglomerate announced the investment in XR Casino, Inc., an online AR gaming company in a push to reach more number of consumers through the growing buzz around the metaverse.
Key Findings – Global Augmented Reality Gaming Market:
• In terms of revenue, the global augmented reality gaming market was valued at US$ 4,935.8 Mn in 2021 growing at a CAGR of 22.76% over the forecast period (2022 – 2030).
• By offering, services segment is anticipated to witness highest growth rate during the forecast period (2022 – 2030). The implementation of services ensures effective functioning of augmented reality gaming solutions with transparency and control throughout the process.
• By access device, smartphones and tablets segment is anticipated to witness highest growth rate during the forecast period. Considerable growth in mobile games installation fuels growth of this segment. For instance, the growth rate of mobile game apps installation increased by 13% during the pandemic. For instance, from 32% growth in 2019, it went to 45% in 2020. In addition, a number of AR gaming industry players like Google, Sony, and HTC are entering into mobile AR gaming and VR headset production businesses, after noticing the potential in this market.
• By end-users, professional gamers segment reported the major share of the market in 2021. However, casual gamers segment is projected to witness highest growth rate during the forecast period. Growth of this segment is mainly driven by rise in demand for video games that do not require a major time investment to play, win, and enjoy. In addition, the proliferation of smartphones creates demand for growth of this segment.
• By region, North America region dominated the market in terms of revenue in 2021. However, the Asia-Pacific augmented reality gaming market is expected to witness highest growth rate during the forecast period owing to increased number of smartphone-based AR gamers in the region. In addition, the growing trend of business expansion among augmented reality gaming industry players in Asia-Pacific region is opportunistic for growth of the market. For instance, in September 2021, Dentsu Inc. launched Dentsu gaming in Asia-Pacific. It is an integrated solution which is expected to help gaming brands to better engage with more than 3 billion gamers worldwide.
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