Press release
Global Generative AI In Augmented Reality Market to Reach $11.95 Billion by 2029, Growing at 36% CAGR
Generative AI In Augmented Reality Market Size
The generative AI in augmented reality market will grow from $2.56 billion in 2024 to $3.49 billion in 2025, with a CAGR of 36.4%. Key drivers include enhanced user experience, personalized content and interactions, improved design and engineering simulation, real-time data integration, and increased accessibility through AI-generated translations and captions.
The generative AI in augmented reality market is projected to experience rapid expansion in the coming years. By 2029, it is expected to reach $11.95 billion, growing at a compound annual growth rate (CAGR) of 36.0%. This growth during the forecast period will be driven by factors such as improved collaboration and communication through AR-enabled virtual meetings and presentations, heightened immersion and engagement in AR experiences with AI-generated sound and music, enhanced accuracy and speed in object recognition and tracking, strengthened security and privacy with AI-generated encryption and authentication, and greater scalability and cost-effectiveness in content creation and distribution. Key trends anticipated during this period include the increasing adoption of generative adversarial networks (GANs), the rise of transformer models, hybrid approaches integrating generative AI with other technologies, advancements in speech synchronization and eye-gazing technology, and a strong emphasis on user engagement and personalization.
What Factors Are Fueling Growth in the Generative AI In Augmented Reality Market?
The increasing prevalence of remote work is predicted to drive the growth of the generative AI augmented reality market in the coming years. Remote work, also known as telecommuting, refers to a work arrangement where employees don't have to commute to a physical office. The rise in remote work is playing a key role in advancing augmented industrial reality (AIR) solutions. Generative augmented reality (GAR) can be extremely useful in remote work settings, especially for industries that depend on physical operations and require collaboration between remote and on-site teams. For example, as of 2023, Forbes Media LLC, a US-based media company, reported that 12.7% of full-time U.S. employees worked from home, with 28.2% working in a hybrid model. By 2025, it is estimated that 32.6 million Americans will be working remotely, or 22% of the workforce. Therefore, the rise in remote work is accelerating the growth of the generative AI augmented reality market.
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Which Leading Companies Are Shaping the Growth of the Generative AI In Augmented Reality Market?
Major companies operating in the generative AI in augmented reality market report are Apple Inc.; Alphabet Inc.; Samsung Electronics Co. Ltd.; Microsoft Corporation; Meta Platforms Inc.; Qualcomm Technologies Inc.; NVIDIA Corporation; Snap Inc.; PTC Inc.; Epic Games Inc.; Magic Leap Inc.; Niantic Inc.; WayRay AG; DAQRI; RE'FLEKT GmbH; Ubimax GmbH; Seabery; Vuzix Corporation; Scope AR; Upskill; Blippar; Atheer Inc.; Wikitude GmbH; ViewAR; 8th Wall
What Are the Major Trends Shaping the Generative AI In Augmented Reality Market?
In the generative AI in augmented reality market, companies are developing neural networks to optimize AR development. For instance, in April 2023, Devar, a US-based tech company, launched the first neural network for AR, which generates 3D models for webAR objects, making AR content creation more accessible to users without prior AR experience.
What Are the Key Segments of the 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
Subsegments:
1) By Software: AR Development Software, AI-Powered AR Tools, Generative AI For Content Creation, AR Visualization Software
2) By Services: Consulting Services, Integration Services, Training And Support Services, Managed Services
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Which Region Dominates the Generative AI In Augmented Reality Market?
North America was the largest region in the generative AI in augmented reality market in 2024. 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.
What Is Covered In The Generative AI In Augmented Reality Global Market Report?
- Market Size Analysis: Analyze the Generative AI In Augmented Reality Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Generative AI In Augmented Reality Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Generative AI In Augmented Reality Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Generative AI In Augmented Reality Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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