AR Gaming Market to Soar to $43.34 Billion by 2031, Driven by AI and WebAR Innovations
October 22, 2024Various industries, including consumer goods, aerospace, defense, healthcare, and retail, are increasingly adopting AR technologies, supported by substantial investments from technology giants and private investors.
In the automotive sector, AR is enhancing vehicle safety and efficiency by overlaying digital data in real-world environments, and it allows consumers to interact with virtual 3D models of vehicles in showrooms.
The popularity of eSports continues to rise, with viewership expected to exceed 318 million by 2025, indicating its significance as a cultural phenomenon.
The integration of artificial intelligence, particularly Generative AI, is expected to significantly drive the mainstream adoption of augmented reality (AR) and extended reality (XR).
The augmented reality gaming market is projected to reach $43.34 billion by 2031, with a remarkable compound annual growth rate (CAGR) of 21.9%.
Electronic Arts Inc. (EA) has seen its stock rise 14.9% over the past six months, closing at $144.35, and holds a POWR rating of B, indicating a Buy recommendation.
Web-based Augmented Reality (WebAR) is emerging as a key technology, allowing users to engage with AR content without the need for mobile applications, thereby enhancing accessibility and user engagement.
Investors are exploring augmented reality stocks, with a focus on companies like The Glimpse Group, Conduent Incorporated, and MicroVision, Inc., particularly those priced under $5.
The AR market is experiencing significant growth driven by increased investments, particularly in training and industrial maintenance, which alone has attracted approximately $4.1 billion.
The gaming industry is projected to grow significantly, with estimates suggesting the market will reach $363.20 billion by 2027, growing at a CAGR of 8.8%.
Playtika Holding Corp. (PLTK) is set to acquire SuperPlay for $700 million, a move aimed at enhancing its mobile gaming portfolio.
Summary based on 6 sources
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Sources
Yahoo Finance • Oct 21, 2024
MicroVision, Inc. (MVIS): Among The Best Augmented Reality Stocks Under $5Yahoo Finance • Oct 21, 2024
The Glimpse Group, Inc. (VRAR): Among The Best Augmented Reality Stocks Under $5Yahoo Finance • Oct 21, 2024
ImagineAR Inc. (IPNFF): Among The Best Augmented Reality Stocks Under $5Yahoo Finance • Oct 21, 2024
Conduent Incorporated (CNDT): Among The Best Augmented Reality Stocks Under $5