What Has Been the Progress and Growth of the Augmented Reality Software Market in Recent Years?
The augmented reality software market has seen considerable growth due to a variety of factors.
• In the past few years, there has been a dramatic expansion in the size of the augmented reality software market. It is projected to escalate from $72.82 billion in 2024 to $111.71 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 53.4%.
This significant growth during the historic period can be credited to developments in technology, widespread usage of smartphones, the entertainment and gaming sector, applications in industrial and enterprise settings, as well as the healthcare and education sectors.
What Is The Expected Growth In The Augmented Reality Software Market Size Evolve over the Forecast Period?
The augmented reality software market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the augmented reality software market to witness substantial expansion in the upcoming years. Its estimated size by 2029 should be around $436.9 billion, with a compound annual growth rate (CAGR) of 40.6%.
This projected growth for the forecast period can be linked to a surge in enterprise adoption, innovative healthcare solutions, e-commerce and retail sector, advertising and marketing strategies, as well as remote teamwork dynamics. Key trends projected for this forecast period encompass AR cloud, spatial computing, an immersive AR experience, and the use of AR in healthcare and medical fields.
What Main Forces Are Fueling Expansion In The Augmented Reality Software Market?
Adjusting to the new normal and rebounding from the impacts of COVID-19 on the economy will peg augmented reality as a catalyst, thus propelling the augmented reality software market's expansion during the forecasted period. A significant number of firms are grappling with massive depletion of human experience and wisdom courtesy of the COVID-19 pandemic. The focus for many businesses is currently centered on maintaining the residual intelligence and riding out the storm of the pandemic, and contrary to common conception, augmented reality might be relatively inexpensive. PTC, for instance, amid the ongoing COVID-19 crisis, opened up access to Vuforia Chalk, facilitating firms' transition towards AR usage for COVID-19 recovery. Vuforia Chalk and Microsoft Dynamics represent a sample of the augmented reality tools that staff can utilize in the future to retrain or glean from experts' previously curated guides or directives using smartphones, tablets, and other similar gadgets. The adoption of AR-based training approaches will expedite the process of embedding necessary intelligence into employees once the recovery process commences.
What Are The Primary Segments In The Global Augmented Reality Software Market?
The augmented reality software market covered in this report is segmented –
1) By Deployment: Cloud Based, On-Premise
2) By Software Function: 3D Modelling, Workflow optimization, Visualization, Navigation, Remote collaboration, Documentation, Other Software Functions
3) By Vertical: Enterprise, Oil and gas, Mining, Telecom, Aerospace and defense, Medical, Other Verticals
Subsegments:
1) By Cloud-Based: Public Cloud, Private Cloud, Hybrid Cloud
2) By On-Premise: Large Enterprises, Small and Medium Enterprises (SMEs)
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Which Emerging Market Trends Are Altering The Augmented Reality Software Industry?
The conjunction of augmented reality and artificial intelligence unveils a plethora of potentialities, given that they are corresponding yet autonomous technologies. The immersion and interactivity of AR scenes can be significantly escalated by incorporating AI models, and these can manifest in various forms - from tagging real-world objects to enhancing AR experiences. In essence, an AR system can surmise the correct interface for an individual in diverse virtual surroundings, while AR can be enriched to provide a multidimensional, adaptive virtual experience, thereby unlocking uncharted realms of innovation and comprehension. A case in point is that in January 2022, AR’s Games, a game company from Italy, declared its plan to launch the planet's inaugural AI-based AR video game. This innovative game, christened The Real Tournament and tailored exclusively for mobile devices, mixes AI and AR to create a first-person shooter game featuring real people. This amalgamation is projected to spur the augmented reality software market's expansion in the forthcoming times.
Who Are the Key Players In The Augmented Reality Software Market?
Major companies operating in the augmented reality software market include:
• Wikitude GmbH
• DAQRI LLC
• Zugara Inc.
• HP Inc.
• PTC Inc.
• Catchoom Technologies S.L.
• Ubimax GmbH
• Marxent Labs LLC
• Inglobe Technologies Srl
• Qualcomm Incorporated
• Total Immersion
• Atheer Inc.
• Mozilla Corporation
• Google LLC
• Meta Platforms Inc.
• Amazon.com Inc.
• Inter IKEA Systems B.V.
• Pristine Inc.
• Infinity Augmented Reality Inc.
• JBKnowledge Inc.
• Magic Leap Inc.
• Mortar Studios
• ViewAR GmbH
• Microsoft Corporation
• Unity Technologies Inc.
• Apple Inc.
• Blippar Ltd.
• Zappar Limited
• Niantic Inc.
• Kudan Limited
• Maxst Inc.
• Miralupa Inc.
• Augmate Corporation
What Is The Most Dominant Region In The Augmented Reality Software Market?
Asia-Pacific was the largest region in the augmented reality software market in 2024. North America was the second largest region in the augmented reality software market. The regions covered in the augmented reality software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
