The global AR gaming market is anticipated to grow at a considerable CAGR of 34.2% during the forecast period (2022-2028). AR gaming is the type of gaming that uses an enhanced version of the real physical world for gaming. AR gaming uses digital visual elements, sound, and other sensory stimuli delivered via technology. The major factor attributing to the growth of the global AR gaming market includes the growing gaming industry. According to the India Brand Equity Foundation (IBEF), one of the fastest-growing sunrise industries in India is the gaming industry accounting for around 40% growth in the gaming industry in 2019-2020. The net revenue generated by the gaming industry in India in 2019-2020 was around $1.5 billion and is expected to reach $5 billion by 2025. Furthermore, the sharp rise in online gaming is further contributing to market growth. An article published by Verizon Communications US in March 2020 describes the staggering 75% increase in gaming during peak hours. Thus, increasing the demand for enhanced technology including AR gaming.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances-
- In April 2020, Apple Inc. acquired NextVR. NextVR is a US-based virtual gaming company. This acquisition will provide enhancements to Apple’s initiatives for games, sports, and entertainment. Furthermore, Apple Inc. plans to upscale video streaming using NextVR’s 40 patients.
- In September 2020, Microsoft acquired ZeniMax, a media and gaming organization to expand the growth of the Microsoft gaming business.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Display
- By Device
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Google LLC, Microsoft, Apple Inc., Schneider Electric, and Sony Group Corp., among others.
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Global Anything as a Service Market Report by Segment
By Service Type
- Storage
- Security
- Unified Communications
- Network
- Database
- Backend
- Others
By End-user Industry
IT & Telecom
Global AR Gaming Market Report by Segment
By Display
- Head-Mounted Display
- Smart Glasses
By Devices
- Portable Gaming Devices
- Laptops
- Smartphones
- PCs
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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