Augmented reality combines digital inputs into the physical world allowing users to scan physical environments and provide enhanced or augmented experience through the addition of virtual computer generated data. Users can try out this technology through mobile applications. The global augmented reality in gaming market is set to explode with the incoming and revolutionary products like Pokemon Go.
Gaming is a critical consumer segment which can progress with advancements in AR technology. Mobile games with terrains, levels, characters and targets that are optimized using AR technologies will make the cut in 2016-2017 to change the way people see entertainment and recreation. Consider how users in a metro station can scan their reality and create a personalized version of Subway Surfers, a game using AR technology.
Racing games can add on a whole new experience to create a virtual track that incorporates elements of reality using augmented reality.
Estimates for the global AR market by Research Moz are pegged at CAGR (Compounded Annual Growth Rate) of 174.2 percent from 2016-2020. Considering the revenue generated from sales of AR gaming applications and in app purchases, the emerging markets have a role to play in the augmented reality revolution in the present year.
Market Landscape and Growth Prospects
Based on geography, the AR gaming market is divided into:
Important vendors in the AR gaming field to watch out for include:
- Total Immersion
- Infinity Augmented Reality
- Augmented Pixels
AR vendors are using crowdfunding to create capital for projects. How is this helping the markets? It increases awareness among potential clients and permits new vendors to enter the market, stimulating greater competition and lowering prices. Vendors can also predict the demand for their products. They can even talk to buyers and make them part of product development!
One of the latest trends in 2016-2017 in the global AR gaming market is that manufacturers are integrating augmented reality solutions into mobile devices. This includes phablets, tablets and smartphones. This will boost market growth and enhance user experience besides raising profits given the rise in smartphone and tablet usage.
Social media and search engine majors like Facebook, Google, Microsoft and Nvidia will spur growth and development of the global AR gaming market in the coming months. Their AR apps are unique and promote high levels of user engagement.
International AR market for gaming is competitive to a moderate success. While there are many vendors, few are at the top of the game with the rivalry being the stiffest among software developers. As markets have low entry barriers, new players will enter and the competition will only get stronger in coming months.
NASDAQ estimates that global augmented reality market is expected to grow over USD 161 billion by the year 2022. What makes the global market a dynamic and vibrant one? Simply the fact that AR technologies are compatible with wide number of gaming devices from handheld ones to head mounted and head up displays and smart glasses.
Gaming application of AR has the potential to generate high revenue. Integration of virtual audio and video from the real world into the virtual makes the immersive experience in global AR gaming products one of a kind!