New Study Projects Mobile AR Revenue to Reach $21 Billion by 2024

ARtillery Intelligence publishes five-year outlook for Mobile AR and its revenue subcategories.
 
 
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* Augmented Reality

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SAN FRANCISCO - Sept. 17, 2020 - PRLog -- ARtillery Intelligence today released a new report that projects mobile AR revenue to grow from $3.9 billion in 2019 to $21.02 billion in 2024. Entitled Mobile AR Global Revenue Forecast, 2019-2024, it dives deep on mobile AR revenue totals and subcategories – including consumer and enterprise spending.

Enterprise productivity is the leading revenue category in 2020 ($2.58 billion), followed by AR advertising ($1.41 billion) and consumer in-app purchases ($1.38 billion). The latter comes mostly from player spending in Pokémon Go. Advertising will be the leading mobile AR revenue category by 2024 ($8.02 billion) as brands continue to recognize AR's ability to demonstrate products in visually immersive and conversion-boosting ways. AR commerce-enablement software will be driven by similar factors.

"Several of these mobile AR revenue categories represent what we call AR as a Service, which are SaaS like AR offerings that enable companies to build AR experiences," said ARtillery Intelligence Chief Analyst, Mike Boland. "Those experiences can be visually-guided productivity in enterprise settings, or consumer-facing experiences -- an area we call B2B2C. In either case, these AR 'picks & shovels' will represent a large opportunity to meet the demand for democratized experience creation and accelerated time to market."

As is the case across the global economy, mobile AR sub-sectors will be impacted unevenly by the ongoing COVID-19 global pandemic. Given that software and digital products fare well in global lockdowns, the impact on mobile AR will be mostly positive. For example, quarantine-friendly consumer AR like social lenses are trending up; and social distancing compels enterprise remote-AR support.

"Covid-era dynamics will have a net-positive impact as sheltered-in entertainment, visually-enhanced shopping and socially-distanced productivity play to AR's strengths," said Boland. "This means that Covid-pressured adoption in the near term could expose the technology, thereby accelerating its longer-term sustained adoption."

Report Availability
Mobile AR Global Revenue Forecast is available to ARtillery PRO subscribers. More details can be seen at https://artillry.co/pro

About ARtillery Intelligence
ARtillery Intelligence chronicles the evolution of spatial computing, otherwise known as AR and VR. Through writings and multimedia, it provides deep and analytical views into the industry's biggest players, opportunities and strategies. Products include the AR Insider publication and the ARtillery PRO research subscription. Research includes monthly narrative reports, market- sizing forecasts, consumer survey data and multimedia, all housed in a robust intelligence vault. To learn more, go to https://artillry.co/intelligence

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Tags:Augmented Reality
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