Augmented Reality Software Market Soars: Market Size Projections, Segment Analysis, Key Trends, Competitive Landscape, and Drivers of Growth Revolutionizing Industries

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Augmented Reality Software Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $291.73 billion In 2028 At A CAGR Of 40.9% :

The augmented reality software market size has grown exponentially in recent years. It will grow from $47.88 billion in 2023 to $74 billion in 2024 at a compound annual growth rate (CAGR) of 54.5%. The growth in the historic period can be attributed to technological advancements, smartphone adoption, gaming and entertainment, industrial and enterprise applications, healthcare and education.

The augmented reality software market size is expected to see exponentially grown in the next few years. It will grow to $291.73 billion in 2028 at a compound annual growth rate (CAGR) of 40.9%. The growth in the forecast period can be attributed to enterprise adoption, healthcare innovation, e-commerce and retail, advertising and marketing, remote collaboration. Major trends in the forecast period include ar cloud, spatial computing, immersive ar, healthcare and medical ar.

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Augmented Reality Software Market Major Segments
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

Key Driver - Navigating The New Normal Augmented Reality's Crucial Role In Covid-19 Recovery And Post-Pandemic Productivity

The steps for recovery from COVID-19 and future productivity in the economy will need augmented reality to adjust to the new normal, contributing to the augmented reality software market growth during the forecast period. Many companies are facing an incredible loss of human experience and intelligence due to the COVID-19 pandemic. Many businesses are just focusing on preserving the intelligence and surviving this crisis rather than investments and augmented reality might be much cheaper than expected. For example, PTC, during this COVID-19 crisis, made available Vuforia Chalk for companies letting them to start adapting to AR for the COVID-19 recovery. Vuforia Chalk and Microsoft Dynamics are some of the augmented reality programs which are used by an employee in the future to retrain or learn a task from the expert's already preserved notes and set of instructions using smartphones, tablets, and other devices. AR-based training solutions will help companies to preserve and pass on the required intelligence to the employees faster once the path of recovery begins.

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Prominent Trend - The Synergy Of Artificial Intelligence And Augmented Reality In Revolutionizing Experiences And Market Growth

The combination of artificial intelligence and augmented reality shows many opportunities as both are separate but complementary technologies. Artificial intelligence models will enhance augmented reality experience by adding interactivity and effects to AR scenes like real-world object tagging, enabling an AR system to predict the appropriate interface for a person in each virtual environment, and enhances AR to create a multidimensional and responsive virtual experience that can bring in new levels of insight and creativity. For instance, in January 2022, AR's Games, an Italian gaming firm announced that it is set to launch the world's first artificial intelligence-based augmented reality video game. This game combines artificial intelligence and augmented reality to develop a first-person shooting game made with real people. It is named The Real Tournament and made exclusively for mobile devices. This combination will boost the augmented reality software market growth during the forecast period.

Augmented Reality Software Market Players
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, Pixar Animation Studios, Meta Platforms Inc., Amazon.com Inc., Inter IKEA Systems B.V., Bayerische Motoren Werke AG (BMW), 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

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the augmented reality software market in 2023. 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

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Augmented Reality Software Market Report Structure
3. Augmented Reality Software Market Trends And Strategies
4. Augmented Reality Software Market - Macro Economic Scenario
5. Augmented Reality Software Market Size And Growth
…..
27. Augmented Reality Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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