Press release
Augmented Industrial Reality Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Augmented Industrial Reality Market Size
The augmented industrial reality market's expansion is expected to be fueled by the growing prevalence of remote work. The term refers to working arrangements that do not require employees to travel to a physical office. The adoption and progression of augmented industrial reality (AIR) solutions are accelerated by the rise of remote work, which can be particularly advantageous in industries where physical operations and collaborative work with onsite and offsite teams are the norm. Forbes Media LLC, a US-based media company, reported that by 2023, 12.7% of full-time employees in the US would be working from home, and 28.2% would be following a hybrid model. Furthermore, they predict that by 2025, approximately 32.6 million Americans, or 22% of the workforce, will be working remotely. Consequently, the upsurge in remote work is contributing to the growth of the augmented industrial reality market. Augmented Industrial Reality Market Driver: Augmented Reality Adoption Drives Market Growth
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What Is the projected market size and growth rate for the augmented industrial reality market?
In recent times, the market for augmented industrial reality has seen significant expansion. The projections suggest an increase from $4.61 billion in 2024 to $5.95 billion in 2025, with a compound annual growth rate (CAGR) of 29.2%. Factors attributing to this progression in the historic period include its early uptake in manufacturing, innovative uses in upkeep and training, integration with IoT devices, its exactitude in assembly and quality control, along with the improved remote assistance.
The market size of augmented industrial reality is predicted to undergo substantial expansion in the coming years. It is projected to reach a value of $16.92 billion in 2029 with a compound annual growth rate (CAGR) of 29.8%. The anticipated growth within the forecast period is due to factors such as improved customer experience, increasing applications across various industries, a rise in data visualization requirements, safety and compliance considerations, and a surge in remote assistance demand. Notable trends for the forecast period encompass sustainable and environmentally friendly practices, the augmentation of training and skill development, advanced maintenance and support, enhancements in security and privacy, and personalized and scalable solutions.
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What are the most significant trends transforming the augmented industrial reality market today?
Significant entities in the augmented industrial reality sector are pioneering novel technologies, such as the ActiveSphere concept UI by Magic Leap, with an aim to tap into the possibilities of augmented reality (AR) for car user interfaces. ActiveSphere, a concept by Magic Leap, is an AR user interface purposed for use in vehicles. To illustrate, in April 2023, the Germany-headquartered automobile manufacturing firm, Audi AG, introduced cars with Magic Leap's ActiveSphere concept UI. The concept UI hails from the Magic Leap 2 AR headset and employs hand and eye tracking for drivers to engage with the UI without diverting their gaze away from the road. The UI is devoid of screens, thereby minimizing distractions and amplifying safety. It also accommodates customization, enabling drivers to select the details and functionalities they find most crucial. Plus, it elevates efficiency and personal customization.
What major market segments define the scope and growth of the augmented industrial reality market?
The augmented industrial reality market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology: Marker Based AR Technology, Marker Less AR Technology, Anchor Based AR Technology
3) By Application: Product Design And Development, Maintenance And Repair, Quality Assurance, Training And Education, Assembly Instruction, Other Applications
4) By Industry: Automotive, Healthcare, Energy And Utilities, Chemical, Other Industries
Subsegments:
1) By Hardware: Augmented Reality Headsets, Smart Glasses, Mobile Devices (AR-Enabled), Sensors And Cameras, Projectors
2) By Software: AR Development Platforms, Content Creation Software, Simulation Software, Visualization Tools, Analytics Software
3) By Services: Consulting Services, Integration Services, Training And Support Services, Content Development Services, Maintenance And Management Services
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Which region dominates the augmented industrial reality market?
North America was the largest region in the augmented industrial reality market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented industrial reality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the augmented industrial reality industry growth?
Major companies operating in the augmented industrial reality market report are Apple Inc., Google LLC, Microsoft Corporation, Huawei Technologies Co. Ltd., Sony Group Corporation, Amazon Web Services Inc., Siemens AG, Lenovo Group Limited, International Business Machines Corporation (IBM), Oracle Corporation, Xiaomi Corporation, Honeywell International Inc., SAP SE, ABB Ltd., Infosys Limited, Dassault Systèmes SE, Snap Inc., PTC Inc., Unity Technologies Inc., Sofvie Inc., Magic Leap Inc., Rokid Inc., Epson America Inc., Zappar Limited, Vuzix Corporation, RealWear Inc., Atheer Inc., Spatial Systems Inc., Blippar Limited, Wikitude GmbH
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What Is Covered In The Augmented Industrial Reality Global Market Report?
• Market Size Forecast: Examine the augmented industrial reality market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the augmented industrial reality market for a structured understanding.
• Key Players Overview: Analyze major players in the augmented industrial reality market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the augmented industrial reality market.
• Segment Contributions: Evaluate how different segments drive overall growth in the augmented industrial reality market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the augmented industrial reality market.
• Industry Challenges: Identify potential risks and obstacles affecting the augmented industrial reality market.
• Competitive Landscape: Review strategic developments in the augmented industrial reality market, including expansions, agreements, and new product launches.
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