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Global Generative AI In Augmented Reality Market Size Forecast 2024 - 2033

19 Dec, 2024

How Is The Global Generative AI In Augmented Reality Market Defined?

Generative AI in augmented reality (AR) refers to the use of artificial intelligence algorithms to create or generate content, such as images, videos, or 3D models, within an AR environment. This technology enables the dynamic and interactive creation of virtual elements that can enhance the user's real-world experience in AR applications.

Generative AI In Augmented Reality Global Market Report 2024 provides data on the global generative ai in augmented reality market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Generative AI In Augmented Reality market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.

What Are The Projections Exist For The Global Generative AI In Augmented Reality Market Size And Annual Growth Rates?

The generative AI in augmented reality market has seen exponential growth, rising from $1.88 billion in 2023 to $2.56 billion in 2024 with a compound annual growth rate (CAGR) of 35.8% in the historic period. This growth is attributed to advancements enhancing user experiences through personalized content delivery and interactive simulations, expanded visualization capabilities supporting design and engineering applications, improved productivity in content creation processes through AI-assisted tools, real-time data integration enabling informed decision-making, and inclusive features like AI-generated language translation and captioning. Looking forward, the market is expected to continue its exponential growth, projected to grow to $8.78 billion by 2028 with a CAGR of 36.1%. Factors driving this growth include enhanced collaboration facilitated by AR-enabled virtual meetings, increased immersion and engagement through AI-generated soundscapes and music, advancements in object recognition and tracking enhancing AR functionalities, integration of AI-driven encryption ensuring data security and privacy, scalability and cost-effectiveness in content production and distribution, and innovations in AR applications across diverse sectors. Major trends anticipated in the forecast period encompass the adoption of generative adversarial networks (GANs) for realistic virtual content creation, rise of transformer models enhancing computational efficiency in AR applications, hybrid approaches combining generative AI with other technologies for comprehensive AR solutions, advancements in speech synchronization and eye-tracking technologies enhancing user interaction, and heightened focus on personalized AR experiences driving user engagement.

Which Key Drivers Are Propelling The Generative AI In Augmented Reality Market's Growth?

The increasing prevalence of remote work is expected to propel the growth of the generative AI augmented reality market going forward. Remote work, also known as telecommuting or telework, refers to a work arrangement in which employees do not need to commute to a physical office or workplace. The increasing prevalence of remote work has become a significant factor driving the adoption and development of augmented industrial reality (AIR) solutions. Generative augmented reality (GAR) can be highly beneficial in remote work scenarios, particularly in industries that rely on physical operations and require collaboration between on-site and remote teams. For instance, according to Forbes Media LLC, a US-based media company, as of 2023, 12.7% of full-time employees in the United States work from home, while 28.2% work a hybrid model. By 2025, an estimated 32.6 million Americans are expected to work remotely, which equates to about 22% of the workforce. Therefore, the increasing prevalence of remote work is driving the growth of the generative AI augmented reality market. The market size for generative AI augmented reality is projected to reach $S billion in 2023, $T billion in 2024, and $U billion by 2028.

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What Are The Key Segments Within The Global Generative AI In Augmented Reality Market?

The generative ai in augmented reality market covered in this report is segmented –
1) By Component: Software, Services
2) By Application: Gaming And Entertainment, Enterprise, Education
3) By End-User: Enterprise, Consumer

How Are New Trends Impacting The Size Of The Generative AI In Augmented Reality Market?

Companies in the generative AI augmented reality (AR) market are advancing 3D AR platforms with innovative solutions like neural networks for AR. These networks are integrated into AR platforms to create optimized 3D objects and images for AR projects, even on low-end smartphones. For example, in April 2023, Devar, a US-based technology company, launched a neural network for AR that generates 3D models meeting quality standards for webAR objects, including appropriate polygon counts, topology, and textures. The network utilizes DEVAR's 3D content datasets and user feedback to streamline AR asset creation, making AR development more accessible for users without prior experience.

Which Region Drives The Highest Growth In The Generative AI In Augmented Reality Market?

North America was the largest region in the generative AI in augmented reality market in 2023. The regions covered in the generative AI in augmented reality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.