Augmented Reality Gaming Global Market Report 2024

The augmented reality gaming market size has grown exponentially in recent years. It will grow from $11.03 billion in 2023 to $14.32 billion in 2024 at a compound annual growth rate (CAGR) of 29.8%. The growth observed in the historical period in augmented reality gaming can be attributed to several factors, including increased smartphone adoption, advancements in augmented reality (AR) hardware, a growing interest among developers in creating AR content, rising consumer awareness of AR technology, and continuous improvements in AR content quality and graphics.

The augmented reality gaming market size is expected to see exponential growth in the next few years. It will grow to $40.29 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%. The anticipated growth during the forecast period can be ascribed to the integration with 5G networks, the emergence of cloud gaming platforms, the expansion of Augmented Reality (AR) in e-sports, innovations in social AR gaming, and heightened investment in AR startups. Key trends expected in the forecast period encompass the ubiquitous integration of AR into everyday life, the broadening of social AR experiences, convergence with other technologies, the ascendance of location-based AR games, and the diversification of AR gaming platforms.

The surge in smartphone penetration is poised to drive significant growth in the augmented reality gaming market in the coming years. Smartphones, compact mobile devices equipped with advanced computing capabilities and internet connectivity, have become ubiquitous tools for communication, multimedia consumption, and productivity. Augmented reality (AR) gaming leverages the capabilities of smartphones, utilizing built-in cameras and sensors to superimpose virtual elements onto the real-world environment, delivering users an immersive and interactive gaming experience. For instance, data from Uswitch Limited in November 2023 indicates a notable increase in mobile connections in the UK, reaching 71.8 million in 2022, marking a 3.8% growth from the previous year. Moreover, with the UK population projected to reach 68.3 million by 2025, an estimated 95% of individuals (around 65 million) are anticipated to own smartphones, further fueling the adoption of augmented reality gaming. Consequently, the burgeoning smartphone penetration emerges as a key driver propelling the expansion of the augmented reality gaming market.

Leading players in the augmented reality gaming market are strategically introducing innovative products to solidify their market position and capitalize on the growing demand. Notably, these companies are developing geolocation-based augmented reality games, which utilize technologies such as GPS, Wi-Fi, and cellular networks to pinpoint real-world geographic locations. For example, Niantic Inc., a prominent US-based software development company, unveiled NBA All-World in January 2023 - an immersive, free-to-play augmented reality basketball game. This innovative game celebrates basketball culture by enabling players to locate and challenge opponents on a map, recruit NBA players onto their teams, and compete in real-world locations such as neighborhood courts and branded drop zones. By promoting physical activity, exploration, and engagement with basketball culture, NBA All-World offers various challenges, gear drops from renowned brands, and opportunities for players to showcase their teams, exemplifying the convergence of technology and entertainment in augmented reality gaming experiences.

In November 2021, Resolution Games, a leading game development company headquartered in Sweden, completed the acquisition of Zero Index for an undisclosed sum. This strategic move has enabled Resolution Games to broaden its library of games across prominent VR (virtual reality) and AR (augmented reality) platforms. Leveraging the technical prowess of the Zero Index team, Resolution Games aims to enhance the development and accessibility of virtual and augmented reality experiences for an expanding user base. Zero Index, based in Sweden, specializes in providing real-time virtual studio, augmented reality, and graphics technologies, aligning seamlessly with Resolution Games' vision for innovation and growth in the immersive gaming space.

Major companies operating in the augmented reality gaming market report are Apple Inc., Alphabet Inc., Microsoft Corporation, Sony Group Corporation, Qualcomm Technologies Inc., Hexagon AB, Niantic Inc., Magic Leap Inc., Meta Platforms Inc., Sixense Enterprises Inc., EON Reality Inc., DAQRI LLC, RE'FLEKT GmbH, Seabery S.L., Zappar Ltd., VividWorks Ltd., Marxent Labs LLC, Scope Technologies US Inc., Total Immersion Inc., Augmented Pixels Inc., Blippar Limited, Upskill VR, Ubimax GmbH, Catchoom Technologies S.L., Infinity Augmented Reality Ltd.

North America was the largest region in the augmented reality gaming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented reality gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the augmented reality gaming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Augmented reality gaming refers to an interactive gaming experience that merges elements of the physical world with computer-generated sensory input, often facilitated by devices such as smartphones, tablets, or AR glasses. This technology aims to provide a more immersive and engaging gaming experience compared to traditional video games.

The main products associated with augmented reality gaming are head-mounted displays (HMD), handheld displays, and spatial displays. Head-mounted displays (HMDs) are wearable devices that resemble goggles or a helmet, enabling users to experience augmented reality by overlaying digital information onto their physical surroundings. These products involve both software and hardware components and are utilized in various devices, including mobiles and smart glasses. Augmented reality gaming finds applications in both commercial and home settings.

The augmented reality gaming market research report is one of a series of new reports that provides augmented reality gaming market statistics, including augmented reality gaming industry global market size, regional shares, competitors with augmented reality gaming market share, detailed augmented reality gaming market segments, market trends, and opportunities, and any further data you may need to thrive in the augmented reality gaming industry. This augmented reality gaming market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The augmented reality gaming market consists of revenues earned by entities by providing services such as game development services, cloud services, advertising services, and social media services. The market value includes the value of related goods sold by the service provider or included within the service offering. The augmented reality gaming market also includes sales of gaming applications, headsets, augmented reality glasses, wearable, and gaming consoles which are used in providing the services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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