Overview

Augmented Reality Gaming Market Introduction:

Global Augmented Reality Gaming Market is estimated to value over USD 80 billion by 2027 end and register a CAGR of over 28.9% during the forecast period 2020 to 2027.

Augmented reality (AR) technology has been around since 1960 which was named ‘AR’ in 1990 by Thomas Caudell, a Boeing researcher. Ivan Sutherland designed the first head-mounted display (HMD) in 1968 which was called The Sword of Damocles. This laid the foundation of AR that we use today. In the year 2000, AR Quake, the first AR game, was launched. In this game, players had to not only wear an HMD but also a backpack consisting of a computer and gyroscopes. The first smartphone AR game- AR tennis, a two-player AR game, was launched in the year 2005 which was exclusively developed for Nokia phones. Blippar, in 2014, developed the first AR game for Google Glass which was demonstrated at the Mobile World Congress.

According to Blippar, the number of AR users in the United States was around 37 million in 2017 and it is predicted that it will grow up to 67 million by 2020 which shall open numerous profitable opportunities for the global augmented reality gaming market to thrive.

However, the AR devices are difficult to set up and the initial investments for acquiring equipment are quite high. These factors can be responsible for restraining the market growth. Furthermore, virtual reality (VR) gaming devices are stiff competitors for this market as these devices are easy to set up and are less expensive then AR devices.

The infamous Netflix original TV series, Stranger Things, is getting its own AR game which will be developed by Next Games, who developed a location-based game 'Our World' based on the TV show The Walking Dead. Games based on popular stories can help augment the market size significantly as there is a huge fan-base of something like Harry Potter and these people will surely play games related to or based upon these infamous narratives and this shall augment the market growth.

Augmented Reality Gaming Market Segmentation:

By Component

Software
Hardware

By Technology

RFID
GPS
Mobile Tracking
Others

By Device

Mobiles
Head Mounted Devices (HMDs)
Smart Glasses

By Game Type

Racing Games
Adventure Games
Fighting Games
Shooting Games
Mystery Thriller Games
Puzzle Games
Science Fiction Games
Others

By Region

North America
Europe
Asia Pacific
Middle East & Africa
Latin Americ

FutureWise Key Takeaways:

With games like Pokémon GO and Harry Potter Wizards United, the AR gaming on mobile devices shall rise exponentially creating numerous opportunities for game developers to develop interesting AR games considering how all the new-generation high-end mobile phones are integrated with latest augmented reality frameworks
Microsoft collaborating with Epic Games for integrating Epic’s AR framework on Microsoft’s HoloLens shall increase the market growth significantly. Therefore, new AR games will not require hefty setups like the ones required for AR Quake. Even the HMDs will become redundant once these AR eye wears are available at an affordable price in the market.

Key Market Players:

Apple
Microsoft
Sony
Googl

Objectives of the Study:

To provide with an exhaustive analysis on the augmented reality gaming market by component, by technology, by device, by game type and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Middle East & Africa and Latin America
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies