According to the new market research report "Mobile Augmented Reality Market, by Component (3D Cameras, Displays, Sensors, and Software), Application (Smartphones, Tablets, Personal Digital Assistants (PDA)/Game Consoles, Smart Glasses, and Wearables), Vertical, and Geography - Global Forecast to 2022", is expected to be worth USD 79.77 Billion by 2022, at a CAGR of 69.85% between 2016 and 2022. The major driver for the growth of the mobile augmented reality market is the high penetration of smartphones and tablets in almost all verticals.

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To estimate the size of the mobile augmented reality market, top-down and bottom-up approaches have been used. This research study involves an extensive usage of secondary sources, directories, and databases such as Factiva and OneSource to identify and collect information useful to study the technical, market-oriented, and commercial aspects of mobile augmented reality. The research methodology is explained below.

This report provides valuable insights regarding the ecosystem of this market such as product developers and application developers, OEMs, system integrators, middleware and firmware providers, suppliers and distributors, camera manufacturers, software developers, developers of smart glasses and wearables, sensor providers, and standardization and testing firms. This study answers several questions of stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing efforts and investments.

Demand for software components and smartphones expected to drive the mobile augmented reality market

The market for software components is expected to grow at the highest CAGR between 2016 and 2022. Software components include programming languages, platforms, interfaces, and software development kits (SDKs) used to develop mobile augmented reality apps. Also, for coordination with the real-world, software such as motion tracking, capturing algorithms, servers, and graphics libraries are required. The advancement in platform based-applications and networking services would lead the mobile augmented reality market. The demand for the Installation of various software applications in smartphones with high functionalities and embedded sensors, to sense the real environment and provide related virtual information simultaneously, is growing. Therefore, the demand for smartphones in mobile augmented reality is high.

Commercial vertical expected to witness highest growth between 2016 and 2022

The market for the commercial vertical is expected to grow at the highest CAGR between 2016 and 2022. The demand for mobile augmented reality apps in education and e-retailing sectors is very high. In the commercial vertical, mobile augmented reality gives a new experience to tourists by displaying virtual things in the real environment to enhance their experience. This would drive the growth of the mobile augmented reality market for the commercial vertical.

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