Industry Background:
Augmented reality (AR) is an important part of social media platforms. It is widely used for Fun and engaging tool which bring creative photo filters and interactive games. Augmented reality is of marker-based AR, markerless AR, Projection-based AR, and Outlining-based AR. This augmented reality is one of the emerging trends and it has excellent strength in social media platforms. Hence, it has huge demand in the information technology industry. This augmented reality (AR) is an advanced technology, which helps people superimpose digital content (images, sounds, text) over a real-world environment. Geographically, the North American region has have been recognized as a highly growing market with increasing social networks. For instance, in 2020, 43.7 million people in the United States used augmented reality (AR) on social networks, Therefore, the North American region is considered the dominant market over the forecast period.This growth is primarily driven by Rising adoption for online Product and brand marketing
.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Media & Entertainment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Snap. Inc (United States), Apple, Inc (United States), Alphabet Inc (United States), CXR (united States), Groove Jones (United States), 4Experience (United States), Lucid Reality Labs (United States), CitrusBits (United States), NEXT/NOW (United States), WeAR Studio (United States), Toptal (United States), Nomtek (United States), TSUKAT (United States), iTechArt Group (United States) and Others, etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2023, Meta partnered with Magic Leap. Magic Leap create mainstream AR products through intellectual property licensing and contract manufacturing in North America. This partnership helped company to expand its presence in ar in social media market.
On July 19, 2021, Snapchat has acquired vertebrae. The main reason to acquire vertebrae So that company can easily upload visuals and other related information About An Item into Vertebrae Portfolio And So That customers can Access 3D Version Of the Shopping experience and potential buyers can buy directly within the Snapchat Platform.The market of augmented reality in social media is expected to grow with the rising digital media industry. Increasing advancements in user experience driving the demand for the market. Several companies are operating in the market to provide augmented reality with various features on apps & unique shopping experience offerings. The market is fragmented with the presence of several market players. They are triggering the market over the forecast period
Influencing Trend:
Rising Demand in online shopping through various media platform
Market Growth Drivers:
Rising adoption for online Product and brand marketing and Easy platform for direct customer target for selling of product and service
Challenges:
Possibility of Physical Harm and poor quality of content
Restraints:
High Cost of implementation and lack of privacy
Opportunities:
Increasing Demand for augmented reality and adoption in construction, defence and Growing Preference for Augmented reality in Medical domain
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Ar In Social Media Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Ar In Social Media Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Ar In Social Media players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Ar In Social Media Study Sheds Light on
The Ar In Social Media Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Ar In Social Media industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Ar In Social Media industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.