Press release
Navigating The New Normal Augmented Reality's Crucial Role In COVID-19 Recovery And Post-Pandemic Productivity: An Emerging Driver Transforming The Augmented Reality Software Market Landscape
Augmented Reality Software
What Is the Projected Growth of the Augmented Reality Software Market?
The augmented reality software market size has experienced rapid growth in recent years. It will grow from $72.82 billion in 2024 to $111.71 billion in 2025, reflecting a CAGR of 53.4%. The historic growth is due to advancements in technology, widespread smartphone adoption, growth in gaming and entertainment, industrial and enterprise applications, and increased use in healTH*Care and education.
The augmented reality software market is poised for exponential growth, projected to reach $436.9 billion in 2029 with a CAGR of 40.6%. Growth will be fueled by business adoption, healTH*Care advances, retail transformation, marketing strategies, and collaborative tech. Trends include AR cloud platforms, spatial computing, immersive experiences, and AR in medical use.
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What Are the Different Augmented Reality Software Market 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
Subsegments:
1) By Cloud-Based: Public Cloud, Private Cloud, Hybrid Cloud
2) By On-Premise: Large Enterprises, Small and Medium Enterprises (SMEs)
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What Are the Primary Drivers Shaping the Augmented Reality Software Market?
As businesses work toward economic recovery and improved productivity following COVID-19, the need for augmented reality (AR) is rising, supporting the augmented reality software market. The pandemic led to significant losses in workforce knowledge, prompting companies to prioritize retaining expertise over investments. However, AR solutions such as Vuforia Chalk by PTC and Microsoft Dynamics have proven cost-effective and useful, allowing employees to receive training and instructions via smartphones and tablets, thus accelerating knowledge transfer during the recovery phase.
Which Companies Are Leading in the Augmented Reality Software Market?
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, Meta Platforms Inc., Amazon.com Inc., Inter IKEA Systems B.V., 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
What Trends Are Expected to Dominate the Augmented Reality Software Market in the Next 5 Years?
The fusion of artificial intelligence (AI) and augmented reality (AR) presents significant opportunities as both technologies complement each other. AI will enhance AR experiences by adding interactive elements and effects, such as real-world object tagging, and enable AR systems to predict the most suitable interface for users in different virtual settings. This combination will create more immersive and dynamic AR experiences, leading to increased creativity and insight. For instance, in January 2022, AR's Games, an Italian gaming company, announced the launch of the world's first AI-based AR video game, The Real Tournament, a first-person shooter designed for mobile devices. This merger of AI and AR will contribute to the growth of the augmented reality software market during the forecast period.
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What Are the Top Revenue-Generating Geographies in the Augmented Reality Software Market?
The countries covered in the augmented reality software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Augmented Reality Software Market?
2. What is the CAGR expected in the Augmented Reality Software Market?
3. What Are the Key Innovations Transforming the Augmented Reality Software Industry?
4. Which Region Is Leading the Augmented Reality Software Market?
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