Amid the COVID-19 crisis, the global market for AR gaming, estimated at US$3 Billion in the year 2020, is projected to reach $33.5 billion by 2027, growing at a compound annual growth rate (CAGR) of 41.3% by 2027, according to Research and Markets.
Mobiles, one of the segments analyzed in the report, is projected to grow at a 41.9% CAGR to reach $21.7 billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the HMDs segment is readjusted to a revised 40.7% CAGR for the next 7-year period, according to Research and Markets. This segment currently accounts for a 26.6% share of the global AR Gaming market.
The market in the US. is estimated at $903.8 Million in the year 2020. The country currently accounts for a 30.3% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of $5.3 billion in the year 2027, trailing a CAGR of 38.9% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 37.5% and 35% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 28.1% CAGR while Rest of European market will reach $5.3 billion by the year 2027.
The accompanying photo is courtesy of 3rockAR.