The augmented reality software market consists of sales of augmented reality software which is the integration of the user`s existing real environment with digital information. The revenue generated by this market consists of sales of software whose functions include 3D modeling, workflow optimization, visualization, navigation, remote collaboration, documentation and others.
The global augmented reality software market is expected to grow from $8.81 billion in 2019 and to $12.62 billion in 2020 at a compound annual growth rate (CAGR) of 43.19%. The market is experiencing growth due to an increase in the demand for augmented reality across segments such as gaming, training and education, and marketing. The market is then expected to reach $57.92 billion in 2023 at a CAGR of 66.19%.
