Global Augmented Reality Software and Services Market Analysis 2024, Forecast To 2033
8 Jan, 2024
The augmented reality software market has experienced exponential growth, growing from $47.88 billion in 2023 to $74 billion in 2024, with a 54.5% CAGR. This growth is attributed to market penetration in entertainment, enterprise adoption, AR hardware advancements, developer tool development, and improved user interface. The forecast period predicts continued exponential growth, reaching $333.06 billion in 2028, fueled by integration with 5G technology, expanded enterprise applications, consumer-friendly AR apps, AR cloud development, and advancements in spatial computing.
Global Augmented Reality Software and Services Market Key Driver
Augmented reality (AR) finds increased utility in fields like medicine, amusements, retail, and entertainment. In medicine, AR enhances precision in surgery, reduces errors, and aids in complex medical problem understanding. Surgeons at Imperial College and St. Mary’s Hospital in London use Microsoft’s HoloLens AR glasses for reconstructive surgery. The widespread adoption of AR in diverse fields contributes to the growth of the augmented reality software and services market.
Get A Free Sample Of The Global Augmented Reality Software and Services Market ReportGlobal Augmented Reality Software and Services Market Segments
The augmented reality software and services market covered in this report is segmented –
1) By Software Function: Remote Collaboration, Workflow Optimization, Visualization, Documentation, 3D Modelling, Navigation, Other Software Functions
2) By Vertical: Aerospace & Defense, Medical, Commercial, Oil & Gas, Mining, Telecom, IT/Data Centers, Enterprise, Consumer, Other Verticals
3) By End-User Type: Commercial, Consumer
By Geography: The regions covered in the augmented reality software and services market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
The Asia-Pacific was the largest region in the augmented reality (AR) software and services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the augmented reality software and services industry during the forecast period. The regions covered in the augmented reality software and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Augmented Reality Software and Services Industry Players
PTC Inc., Wikitude GmbH, Daqri LLC, Zugara Inc., Niantic Inc., Augmate Corporation, Ubimax GmbH, Upskill, Catchoom Technologies S.L., Aurasma, EON Reality Inc., Hewlett-Packard Development Company LP, Zappar Ltd., Immerseport, Infinity Augmented Reality Inc., Inglobe Technologies Arl, Jbknowledge Inc., Kudan, Magic Leap Inc., Marxent Labs LLC, Mortar Studios Ltd., Amazon Web Services Inc., Re’flekt GmbH, Scope Technologies Inc., Viewar GmbH, Atheer Inc., ARToolKit, Arway Corporation, CraftAR, EasyAR
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Augmented Reality Software and Services Market Overview
Augmented reality software and services refers to software and services that integrate digital information with the user's real-time environment. Augmented reality (AR) is a digitally augmented representation of the real physical environment created by using digital visual components, music, or other sensory stimulation given via technology.
Augmented Reality Software and Services Global Market Report 2023 provides data on the global augmented reality software and services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The augmented reality software and services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.