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According to a new market report published by Credence Research “Mobile Augmented Reality Market(Consumer (Gaming, Live and Video Entertainment) and Enterprise & Public Sector (Retail, E-commerce, Advertising, Retail, Education, Healthcare, Military, and Architectural and Building Design)) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022” the mobile augmented reality market was valued at US$ 295.4 in 2013 Mn and is poised to witness a double digit compound annual growth rate during the forecast period.

Market Insights
The Mobile Augmented Reality (MAR) technology has been around since the latter half of the previous decade. Today, the technology is the base for some of the most innovative mobile apps in the market. After all years of hype surrounding the technology, it is finally on the verge of becoming mainstream. The proliferation of smartphones and tablets and advancements in their computational capabilities has provided an ideal medium for consumers to experience augmented reality. Additionally the proliferation of mobile app stores and growing demand for MAR gaming apps and Medical MAR apps are expected to drive market growth in the coming years.

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Competitive Insights:
The global mobile augmented reality market is highly fragmented across verticals, requiring technology providers to understand distinct differences and requirements of different industry verticals. The leading top 4 players in the global mobile augmented reality market account for less than 45 percent of the global market revenue. Some of the leading players identified in the global mobile augmented reality market include Google, Inc. (the U.S.), Qualcomm, Inc. (the U.S.), Apple, Inc. (the U.S.), Blippar (the U.K.), Wikitude GmbH (Austria), Daqri LLC (the U.S.), Augmensys GmbH (Austria), and Augmented Pixels (the U.S.) among others. The global mobile augmented reality market also includes large number of niche players, accounting for trivial market share individually. The global mobile augmented reality market is driven by new technology development and technology innovation. Thus the competitive rivalry among current market players is comparatively high.

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Key Trends:
Growing demand for augmented reality wearable displays in consumer applications
Declining price of microdisplays
Proliferation of mobile devices and advancements in their computational capabilities
Proliferation of mobile app stores and demand for MAR gaming apps and Medical MAR apps

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