What is the size of the Augmented Reality (AR) Cloud market?

According to Next Move Strategy Consulting, the Augmented Reality (AR) Cloud market size reached USD 16.07 billion in 2023 and is expected to reach USD 32.95 billion by 2030, growing at a CAGR of 10.8% from 2024-2030.

Which are the major players in the Augmented Reality (AR) Cloud market?

The major players in the Augmented Reality (AR) Cloud market are among others.

Which region is dominating the Augmented Reality (AR) Cloud market?

According to the Next Move Strategy Consulting, North America is dominating the Augmented Reality (AR) Cloud market at present.

What are the future opportunities in Augmented Reality (AR) Cloud market?

The integration of 5G, AI and cloud computing in Augmented Reality (AR) Cloud is expected to create future opportunities for the market.

Augmented Reality (AR) Cloud Market

Q: Which is the key end user in the Augmented Reality (AR) Cloud industry?

Gaming and entertainment, enterprise and industrial, retail and marketing, healthcare and education, and tourism and navigation plays a crucial end user in Augmented Reality (AR) Cloud industry.

Market Definition

The Augmented Reality (AR) Cloud Market size was valued at USD 16.07 billion in 2023 and is predicted to reach USD 32.95 billion by 2030 with a CAGR of 10.8% from 2024-2030. The Augmented Reality (AR) Cloud, also known as the augmented reality cloud, refers to a network of cloud-based data that integrates various forms of data to create a persistent and location-based augmented reality experience for users. This enables developers to create AR experiences that are accessible in specific physical locations over time, providing a seamless user experience across devices and platforms. The Augmented Reality (AR) Cloud is created by collecting and synthesizing real-time sensor data from various sources such as cameras, GPS, and other sensors, which are then processed by cloud-based software and algorithms. It has the potential to enable a wide range of applications, including immersive gaming, navigation, retail experiences, and virtual meetings.

Market Dynamics and Trends

The global surge in smartphone adoption fuels the expansion of AR-based applications, driving growth in the Augmented Reality (AR) Cloud market as smartphones become increasingly powerful, enabling widespread access to advanced AR experiences. Moreover, the increasing demand for location-based AR encounters, such as AR navigation, advertising, and tourism, is propelling the expansion of the Augmented Reality (AR) Cloud market. It utilizes GPS and camera sensors, these encounters overlay digital content onto the real world, delivering immersive and customized interactions to users.

In addition, rising use of AR technology in industrial and enterprise sectors such as manufacturing, logistics, and healthcare boosts the Augmented Reality (AR) Cloud market. As it offers real-time guidance to workers, enhancing workplace efficiency and safety, leading businesses to invest in AR solutions.

However, the growing concern of data privacy and security is expected to restrain the growth of market during the forecast period. As it involves collecting & processing large amounts of personal and location-based data, which may lead to misuse or mishandling of data that result in negative consequences for individuals. On the contrary, advancements in technology, such as 5G networks, edge computing, and AI, are expected to create ample growth opportunities for the market in the coming years. As these technologies helps to improve the performance and functionality of AR applications as well as enable real-time data processing & analysis that leads to advanced and sophisticated AR experiences.

Market Segmentations and Scope of the Study

The Augmented Reality (AR) Cloud market share is segmented on the basis of component, deployment, organization size, end user, and region. On the basis of component, the market is divided into hardware, software, and services. On the basis of deployment, the market is classified into public cloud, private cloud, and hybrid cloud. On the basis of organization size, the market is categorized into large enterprises and small & medium sized enterprises. On the basis of end user, the market is segmented into gaming and entertainment, enterprise and industrial, retail and marketing, healthcare and education, and tourism and navigation. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the predominating share of the Augmented Reality (AR) Cloud market and is expected to continue its dominance during the forecast period. This is attributed to the factors such as the presence of prominent companies across the region which are extensively working towards the advancement in the Augmented Reality (AR) Cloud industry. In 2023, Google launched an 'Immersive Stream for XR' tool allows Google Cloud users to experience 3D and AR environments on smartphones via a simple link or QR code scan, enhancing features including Google Maps' 'immersive view' and improving at-home shopping experiences for automotive and retail brands.

Moreover, the increasing adoption of cutting-edge technologies such as cloud and AR is facilitating organizational modernization, data management, and enhanced security, driving market growth in the region. For example, Mexico launched its inaugural Oracle Cloud Infrastructure (OCI) in July 2022, providing public and private entities, partners, and developers with tools to enhance customer experiences and foster innovation within the country's ecosystem.

On the other hand, Asia-Pacific is expected to show a steady rise in the Augmented Reality (AR) Cloud market due to the rapid growing development of high-speed internet and 5G networks. This growth is expected to drive the widespread adoption of AR technology and AR-based solutions across various industries in the region. According to the GSMA Intelligence, it was found that 16% of operators in Asia-Pacific expect private networks to account for over 20% of enterprise revenues by 2025.

Moreover, the rising government initiatives for accelerating digital technology are expected to drive the Augmented Reality (AR) Cloud market growth in this region. According to the United Nations Conference on Trade and Development (UNCTAD), the region achieved a 9% growth rate in digitally deliverable exports from 2015 to 2022, surpassing the global average of 6.8% and reaching USD 958 billion.

Competitive Landscape

The Augmented Reality (AR) Cloud market trends comprising of various market players such as Google LLC, Apple Inc., Microsoft Corporation, Meta Platforms, Inc., Niantic, Inc., Snap Inc., Magic Leap, Inc., Blippar, 6D.ai, and Ubiquity6 among others. These market players are adopting innovation, product launch and acquisition as their key developmental strategy to maintain their dominance in the Augmented Reality (AR) Cloud market.

For instance, in June 2023, Niantic introduced significant updates to its augmented reality platforms, including "Pokemon Go" and the Lightship AR platform, enhancing developer tools and hardware compatibility.

Also, in February 2023, Google introduced a new cloud ‘Immersive Stream’ tool aimed at assisting developers in creating immersive mixed reality experiences. It is designed to simplify the process of developing powerful mixed reality content by leveraging Google Cloud services.

Moreover, in February 2022, Niantic announced a strategic acquisition of 8th Wall as a provider of developer tools to create WebAR experiences. This acquisition helped developer tools to create shared multilayer AR experiences that are aware of the surroundings of the user. The 8th Wall expertise allows the developers to create outdoor shared experiences that also work without downloading an app.

Key Benefits

The augmented reality (AR) cloud market report provides the quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
The study comprises of a detailed analysis of the augmented reality (AR) cloud market trends including the current and future trends for depicting the prevalent investment pockets in the market.
The information related to key drivers, restraints, and opportunities and their impact on the augmented reality (AR) cloud market is provided in the report.
The competitive analysis of the market players along with their market share in the augmented reality (AR) cloud market is mentioned.
The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
The value chain analysis in the market study provides a clear picture of the stakeholders’ roles.