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AR & VR Software Market worth $43.96 billion by 2030, growing at a CAGR of 18.43% - Exclusive Report by 360iResearch
AR & VR Software Market | 360iResearch
The Global AR & VR Software Market to grow from USD 13.45 billion in 2023 to USD 43.96 billion by 2030, at a CAGR of 18.43%.
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Augmented reality (AR) and virtual reality (VR) software are interactive digital platforms that enhance the real world with computer-generated perceptual information. These technologies integrate digital information with the user's environment in real time through AR or create a fully simulated experience of a different environment through VR. By harnessing advanced 3D graphics, data processing capabilities, and sensor-based input devices, AR & VR software enables the development of immersive applications spanning various sectors, including commercial and business use cases. Meanwhile, the growing adoption of AR & VR software in the entertainment industry and the increased need for immersive learning in the education and healthcare industry enhance the market's potential growth. In addition, the growing number of AR & VR software companies worldwide significantly contribute to the expansion of the market. However, significant cost and privacy issues associated with the AR & VR software hamper the market growth. Market players are working towards innovative strategies such as investing in research to reduce latency issues, fostering cross-platform compatibility and seamless integration between applications, and enhancing data protection measures through encryption and blockchain technology. On the other hand, the adoption of AR & VR in industrial applications subsequently enhances the improvements in the manufacturing process and contributes to the market's future growth.
In America, the United States, and Canada are key countries in the AR & VR software market due to the U.S. government has filed numerous patents in this domain, focusing on military training and healthcare applications such as virtual health treatment and pain management. The European countries have also shown significant interest in AR & VR technologies for education, entertainment, and industrial tasks. Customers in this region have been found to prioritize high-quality content and seamless integration with the uses of existing AR & VR software embedded devices. In addition, in the Middle East and Africa (MEA) region, countries including Israel and the United Arab Emirates (UAE) are investing heavily in cutting-edge technology such as augmented reality (AR) and virtual reality (VR) due to industrial and aerospace industry expansion. On the other hand, Asia-Pacific countries such as China, Japan, India, South Korea, Australia, and New Zealand are contributing significantly to global advancements in AR & VR software development. Digital initiatives such as 'Digital India' and 'Digital China Strategy' aggressively contributed to the strong market expansion for the AR & VR software in this region.
Market Segmentation & Coverage:
This research report categorizes the AR & VR Software Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across AR Software and VR Software. The VR Software commanded largest market share of 54.17% in 2023, followed by AR Software.
Based on Platform, market is studied across Console, Desktop, Headsets, and Mobile. The Console commanded largest market share of 39.32% in 2023, followed by Mobile.
Based on Software Type, market is studied across 3D Modeling, AR Remote Collaboration, Documentation, Navigation, Visualization, VR Content Creation, and Workflow Optimization. The Navigation commanded largest market share of 21.17% in 2023, followed by 3D Modeling.
Based on Deployment, market is studied across Hybrid, On-Cloud, and On-Premises. The On-Cloud commanded largest market share of 55.78% in 2023, followed by Hybrid.
Based on End-User, market is studied across Aerospace & Defense, Automotive & Transportation, Consumer Goods & Retail, Education, Entertainment & Gaming, and Healthcare. The Entertainment & Gaming commanded largest market share of 37.91% in 2023, followed by Automotive & Transportation.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.99% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the AR & VR Software Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the AR & VR Software Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the AR & VR Software Market, highlighting leading vendors and their innovative profiles. These include AB Volvo, Advanced Micro Devices, Inc., Amazon Web Services, Inc., Appinventiv Technologies Pvt. Ltd., Apple Inc., ARLOOPA Inc., Autodesk, Inc., Blippar Ltd., Cisco Systems, Inc., Contentful Group, Cosm Immersive, Epic Games, Inc., Fyusion, Inc. by Cox Automotive, Inc., Google LLC by Alphabet Inc., HQSoftware, Immersed Inc, Inglobe Technologies Srl, Intel Corporation, International Business Machines Corporation, Matterport, Inc., Meta Platforms, Inc., Microsoft Corporation, Mimic Technologies, Inc. by Surgical Science Sweden AB, NEC Corporation, Niantic, Inc., Nuevo Sentido Tecnológico Realidad Aumentada, S.L., Nvidia Corporation, Oracle Corporation, Pixotope Technologies, Plutomen Technologies Pvt Ltd., PTC Inc., Qualcomm Incorporated, REWO by VIAR d.o.o., Salesforce, Inc., SAP SE, SHAMLA TECH Solutions, Sigma Software LLC, Taqtile, Inc., Unity Software Inc., VironIT, Vodafone Group plc, and Zakeke by Futurenext S.r.l..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. AR & VR Software Market, by Type
7. AR & VR Software Market, by Platform
8. AR & VR Software Market, by Software Type
9. AR & VR Software Market, by Deployment
10. AR & VR Software Market, by End-User
11. Americas AR & VR Software Market
12. Asia-Pacific AR & VR Software Market
13. Europe, Middle East & Africa AR & VR Software Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the AR & VR Software Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the AR & VR Software Market?
3. What is the competitive strategic window for opportunities in the AR & VR Software Market?
4. What are the technology trends and regulatory frameworks in the AR & VR Software Market?
5. What is the market share of the leading vendors in the AR & VR Software Market?
6. What modes and strategic moves are considered suitable for entering the AR & VR Software Market?
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