PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1603753
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1603753
According to Stratistics MRC, the Global Mobile 3D Market is accounted for $90.84 billion in 2024 and is expected to reach $250.26 billion by 2030 growing at a CAGR of 18.4% during the forecast period. Mobile 3D technology is transforming the mobile user experience by integrating three-dimensional visualization into smartphones, tablets, and other portable devices. Hardware and software advancements are driving this progress, enabling devices to produce 3D graphics and images without the need for external 3D glasses. Mobile 3D can be used for everything from better navigation and interactive education to better gaming and augmented reality (AR).
According to the GSMA, smartphone adoption worldwide continues to increase, with over 76% of all mobile connections anticipated to be via smartphones by 2030.
Growing accessibility of tablets and smartphones
One major factor propelling the mobile 3D market is the widespread use of smartphones and tablets. Mobile devices, which now have sophisticated features like high-resolution screens and potent processors, are becoming more and more accessible and affordable, which is driving this growth. Additionally, the increasing use of these devices by consumers for a variety of purposes, such as social media and gaming, has increased demand for immersive 3D experiences, which has led developers to produce a greater range of 3D applications specifically designed for mobile platforms.
Expensive 3D content
One major barrier to the mobile 3D market is the high cost of creating 3D content. It frequently takes specialized knowledge, sophisticated equipment, and costly software to produce high-quality 3D visuals. The Business Research Company claims that costs for artists and developers training, software licensing, and equipment can mount up considerably. Furthermore, these expenses may discourage independent developers or smaller businesses from entering the market or making investments in the production of 3D content, which would ultimately reduce the variety and accessibility of 3D applications for users.
Growing interest in immersion activities
One major opportunity for the mobile 3D market is the growing consumer preference for immersive experiences in gaming, entertainment, and education. The demand for interactive and captivating content is growing, especially among younger audiences who are looking for alternatives to traditional media consumption, according to Cognitive Market Research. The gaming industry is demonstrating this trend, as games that use 3D graphics and augmented reality (AR) components are becoming more and more well-liked. Moreover, developers can take advantage of this chance by producing cutting-edge 3D apps that boost user interaction and offer distinctive experiences, which will propel market expansion.
Low processing capacity of mobile devices
The market for mobile 3D is still facing major challenges due to the processing power of mobile devices. The processing demands of rendering 3D images in high definition may be too much for many smartphones and tablets currently on the market. When using sophisticated 3D applications, this limitation may result in performance problems like lagging or crashes, as mentioned in a number of industry reports. Additionally, consumer disenchantment with mobile 3D apps could prevent their widespread adoption and usage if they encounter poor performance.
Due to supply chain disruptions and decreased consumer spending, the COVID-19 pandemic initially caused disruptions that hampered growth in the mobile 3D market. Zion Market Research estimates that the global mobile 3D market was worth USD 2,264.86 million in 2020, which is a substantial decrease from prior years. The pandemic did, however, also hasten the digital transformation of many industries, emphasizing the value of technology and mobile connectivity in daily life. Furthermore, the need for mobile devices that could support 3D content increased during lockdowns as people resorted to digital platforms for communication, education, and entertainment.
The Smartphones segment is expected to be the largest during the forecast period
The largest share of the mobile 3D market is held by the smartphone segment. This dominance is mostly due to the growing use of smartphones around the world, which has been made possible by technological advancements and a growing consumer desire for portable gadgets that can provide immersive experiences. Smartphones are growing more adept at handling complex 3D applications as they continue to develop with more powerful processors, better graphics capabilities, and high-resolution screens. Moreover, this segment is positioned as a major growth driver within the broader Mobile 3D market due to the combination of technological advancements and the widespread adoption of smartphones.
The Mobile Gaming segment is expected to have the highest CAGR during the forecast period
Over the course of the forecast period, the mobile gaming segment is anticipated to have the highest CAGR in the mobile 3D market. The rising popularity of mobile games with cutting-edge graphics and immersive experiences that appeal to a wide range of gamers is driving this quick expansion. The growth of this market is being driven by the popularity of multiplayer games, improved network connectivity, and the incorporation of 3D graphics, as developers aim to produce more dynamic and captivating gaming experiences. Additionally, the mobile gaming industry is set to take the lead in the mobile 3D market owing to developments in mobile technology and the rising demand from consumers for visually appealing content.
The market for mobile 3D is expected to be dominated by the North American region. A number of factors, such as high consumer spending on cutting-edge technologies and a robust demand for creative mobile applications, contribute to this dominance. The region's position in the market is further strengthened by its strong infrastructure and broad smartphone adoption. Furthermore, a large number of top technology firms based in North America are actively creating and marketing mobile 3D applications, which helps the region's expansion.
Over the course of the forecast period, the mobile 3D market is expected to grow at the highest CAGR in the Asia Pacific region. Numerous factors, such as the growing demand for cutting-edge gaming and entertainment experiences, the widespread use of smartphones, and large investments in cutting-edge technologies like virtual reality (VR) and augmented reality (AR), are driving this rapid expansion. Moreover, the region is a hotspot for technological advancements and consumer engagement because of its thriving gaming industry and growing digitalization, which also contribute to the growing interest in mobile 3D applications.
Key players in the market
Some of the key players in Mobile 3D market include Toshiba Corporation, Samsung Electronics Co. Ltd., 3M Company, Intel Corporation, Hitachi Limited, HTC Corporation, Motorola, NVIDIA Corporation, ZTE Corporation, Apple Inc, Microsoft Corporation, Imagination Technologies, Sharp Corporation, Qualcomm Technologies Inc. and Lenovo Group Ltd.
In August 2024, Qualcomm Technologies and Sequans Communications announced that they have entered into a definitive agreement for Qualcomm to buy Sequans' 4G IoT technologies. The acquisition includes certain employees, assets and licenses. The transaction is subject to customary closing conditions, including French regulatory approval.
In February 2024, Toshiba Energy Systems and Solutions Corporation and Bekaert, have entered into a global partnership which includes a strategic cooperation agreement, and a manufacturing technology license for Membrane Electrode Assemblies (MEA), a key component for Proton Exchange Membrane (PEM) electrolyzers that will help to accelerate the advance towards green hydrogen production.
In February 2024, Motorola Solutions and Google Cloud announced a strategic, multi-year agreement that will focus on innovating cloud solutions across Motorola Solutions safety and security technologies. With Google Cloud's infrastructure, Motorola Solutions will prioritize the advancement of assistive intelligence, including highly accurate and reliable video content delivery, mapping and AI capabilities, to help address real-world safety challenges.