Increasing Adoption of Mobile Augmented Reality (AR) to Drive Spatial Computing Market Growth During Forecast Period
The report includes growth prospects in light of current spatial computing market trends and driving factors influencing the market growth. Penetration of mobile augmented reality (AR) is expected to become an emerging trend in the market in the coming years. Mobile AR is the use of AR on a mobile device to combine computer-generated content with the real world. The pragmatic use of commonly available smartphones and handheld devices makes AR easily accessible to almost anyone. In simple terms, the first step in mobile AR is to capture data from the real world using the device’s camera. This could be from objects, text, barcodes, IDs, or a combination. The data is then used to select and overlay relevant digital content over physical objects using the device’s camera. As users move their devices, the AR overlay updates in real time, presenting the user with new information relating to what the device views.
Mobile AR is also distinct from other forms of augmented reality as it utilizes smart devices rather than specialized AR headsets. One of the most popular examples of mobile AR in action is Pokémon Go, a mobile game that allows users to search for and “collect” Pokémon characters while they are out and about. Viewing the world through their phone camera shows Pokémon apparently in the real world. Beauty brands such as Arbelle have developed AR tools that allow users to try makeup products virtually before ordering them. IKEA has a function on its app that enables this, letting shoppers use their phones to see how an IKEA sofa would look in their living rooms. Such applications are expected to contribute to the growing spatial computing market size during the forecast period.
Spatial Computing Market: Segment Overview
The spatial computing market is segmented on the basis of component, technology, and end user. Based on component, the market is segmented into hardware, software, and service. The market for the hardware segment is further bifurcated into headsets and others. Based on technology, the market is segmented into augmented reality (AR), virtual reality (VR), and mixed reality (MR). In terms of end user, the market is segmented into architecture, engineering, & Construction (AEC); consumer; education; healthcare; retail; and others. The geographical scope of the spatial computing market report encompasses North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Europe held the second-largest global spatial computing market share in 2022, followed by APAC. The market in Europe is segmented into Germany, France, Spain, the UK, Italy, and the Rest of Europe. Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) are forms of Extended Reality (XR). VR and AR solutions are witnessing a spike in demand across different European industry verticals. While northern and western European countries are traditionally the biggest markets, eastern and central European countries are becoming promising markets for spatial computing startups. Since the shortage of developers affects most European countries, many companies in Europe try to hire developers from abroad or recruit talent from outside Europe. The European Commission (EC) also formed the Virtual and Augmented Reality Industrial Coalition to develop a roadmap outlining the next steps for VR/AR in Europe. It was endorsed by over 40 EU organizations operating and investing in these technologies. All these factors promote the spatial computing market growth in the region.
Spatial Computing Market: Competitive Landscape and Key Developments
Adobe Inc, Alphabet Inc, Apple Inc, Autodesk Inc, Dassault Systemes, HTC, Magic Leap Inc, Meta Platforms Inc, Microsoft Corporation, and Unity Technologies are among the key players that were profiled during the study. Several other important players were also analyzed during this spatial computing market analysis to get a holistic view of the global market and its ecosystem. The leading players focus on feature upgrades, expansion and diversification, collaboration, and acquisition strategies, which enable them to grab new business opportunities and increase their global spatial computing market share. As per company press releases, below are a few key developments:
- In June 2023, Samsung and CAMP announced the merger of VR and real-world play with “Can You Beat The Box,” the pop-up experience at the Samsung Experience Store at CF Toronto Eaton Centre. Created in partnership with leading family experience company CAMP, Can You Beat The Box participants teamed up with their digital avatars to battle for victory inside a cutting-edge AR world using the Samsung Galaxy Z Flip4.
- In June 2023, Apple unveiled Apple Vision Pro, a revolutionary spatial computer that seamlessly blends digital content with the physical world while allowing users to stay present and connected to others. Vision Pro creates an infinite canvas for apps that scales beyond the boundaries of a traditional display and introduces a fully three-dimensional user interface controlled by the most natural and intuitive inputs, including a user’s eyes, hands, and voice. Featuring visionOS, the world’s first spatial operating system, Vision Pro lets users interact with digital content in a way that feels like it is physically present in their space. The breakthrough design of Vision Pro features an ultra-high-resolution display system that packs 23 million pixels across two displays and custom Apple silicon in a unique dual-chip design to ensure every experience feels like it is taking place in front of the user’s eyes in real-time.