The global augmented reality gaming market is still in its novelty phase and is anticipated to dynamically transfigure the gaming technology businesses over next seven years owing to its feature of converging real and virtual realms. This implicit convergence of natural and virtual environment would be achieved with the help of HMDs (Head Mount Displays) and aligned augmented reality (AR) apparatus. This modern augmented reality gaming equipment is fabricated by installing sensor receptors that transfer physical-human motions to the gaming platforms, accordingly delivering users a thrilling and lively adventurous experience of what the simulated character in the game experiences. AR provides a simulated environment produced with the facilitation of software and hardware, to deliver end-user, gaming experiences strikingly resembling an actual environment. AR gaming refers to the deployment of graphics technology and sound in gaming world where the users equip themselves with devices such as HMDs, gloves or glasses as a part of their experience. AR gaming equipment leverages the HD TV capabilities along with sensor reception apparatus to integrate varied instances at distinct points, thus transforming legacy wired gaming controllers to contemporary wireless reception devices.
One of the key factors contributing to the growth of AR gaming market is surging adoption of augmented reality equipment to conduct day-to-day operations globally such as augmented calling, meeting and adoption of telepresence equipment’s. The augmented reality gaming innovations are poised to refurbish the mode of maneuvering globally integrated congruent gaming experiences. The global augmented reality market is anticipated to prosper owing to the growing use of augmented reality in gaming equipment fabrication and design to deliver near to reality experience in gaming.
However, tedious process of setting up a dedicated AR gaming session and high initial capital investment to acquire AR gaming equipment are expected to emerge as major restraints for augmented reality gaming market. The market in focus is poised to face extreme competition from its novel technology counterpart, virtual reality gaming devices, which deliver aligned gaming experience with a gist of reality but majorly based on virtual environments. Augmented reality gaming devices are poised to face stiff competition from virtual reality devices, since virtual gaming is comparatively cheaper and delivers higher value. Other legacy gaming counterparts such as Xbox 360 and Sony Corporations PS3 gaming consoles are expected to dominate the market until augmented reality gaming apparatus acquisition cost reduces comparatively for majority of the population to afford it. Furthermore, requirements such as dedicated session management procedures and dedicated bandwidth allocation for switching to real-time mode are expected to emerge as major challenges to the industry growth. Competitive television-based video-gaming service offerings, lower-cost systems, delayed customer buying decisions, and more software-centric products are foreseen to hamper the exorbitant AR gaming market. Rising stipulation to converge veracity with gaming experience delivery and corporate shift from fabrication of wired game controllers to sensory reception device controllers have led to the enlargement of augmented reality based gaming services market.
The augmented reality gaming market can be bifurcated on the basis of applicative components, into hardware components and software components. Based on the product type, the market can be bifurcated into completely immersive augmented reality gaming and partial augmented reality gaming. Completely immersive AR experience is delivered with the help of HMDs, whereas partial experience delivery is subject to AR support device usage. The augmented reality gaming market is anticipated to witness a critical transformation as the technology initiates integration with multiple media devices and adjacent arcades.
North America is anticipated to emerge as a leading global augmented reality market in overall gaming business. This growth has been spurred by growth in consumers’ disposable income and constant technological innovation. However, South Korea and China in Asia Pacific region are poised to remain as lucrative growth regions throughout the forecast period. From the global standpoint, factors such as technological breakthroughs are foreseen to drive market growth, whereas the upgrade cost of augmented reality devices and high maintenance is expected to curtail growth to some extent.
Key vendors dealing in the augmented reality gaming equipment include Apple, Microsoft, Google and, Sony.
Information and communication technologies sector is expected to be revolutionized by dynamic phase change from wire-based reception technologies to the protocol-based sensory technologies such as immersive head mount devices. Recent mergers and acquisitions in augmented reality gaming market are expected to trigger the dawn of augmented reality gaming experience. Google Inc. proposed to craft augmented reality realm, by means of its recent investment in MagicLeap of over USD 500 million in October 2015. Microsoft is foreseen to launch its AR gaming device ‘Microsoft HoloLens’, by the advent of year 2016.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.