Global Augmented Reality Software Market Size By Vertical (Enterprise, Oil & Gas, Mining), By Technology (3D Modelling, Workflow Optimization, Visualization), By Geographic Scope And Forecast

Augmented Reality Software Market Size And Forecast

Augmented Reality Software Market size was valued at USD 13.37 Billion in 2021 and is projected to reach USD 860 Billion by 2030, growing at a CAGR of 57.6% from 2023 to 2030.

Increasing demand for AR devices in the medical sector and growing demand for AR in the e-commerce and retail industries are the factors driving the market growth of the Augmented Reality Software Market. The Global Augmented Reality Software Market report provides a complete estimate of the market. The following report offers a comprehensive analysis of key segments, market trends, drivers, and restraints, competitive landscape, and major factors that are playing a substantial role in the market.

Global Augmented Reality Software Market Definition

Augmented reality (AR) is an improved rendition of the real material world which is achieved by the use of digital graphic visual elements, sound, or other sensation stimuli delivered by technology. Different from virtual reality which creates a completely artificial environment, augmented reality uses an existing environment and puts new information above the existing one. The first commercial application of Augmented reality technology was the ‘first down’ line which began in television football games back in 1998. Recently, Heads-up displays in car windshields and Google glass are the most well-known consumer AR products. Still, the technology is used in many industries, such as public safety, healthcare, oil and gas, marketing, and tourism.

Augmented reality technology is written in specific 3D programs that give the developer the freedom to tie animation or contextual information in the computer program to augmented reality in the real world. Whenever a computational device’s an augmented reality browser plug-in or app receives digital data from a known marker, it executes the marker’s code and layers the correct image or images. AR applications for smartphones generally include a global positioning system (GPS) to specify the user’s location and its compass to catch the device’s direction. Complicated AR programs utilized by the military for training may include object recognition, gesture recognition, and machine vision technologies.

Global Augmented Reality Software Market Overview

The primary factor driving the market growth is increasing demand for AR devices in the medical sector, increasing investments in the Augmented Reality Software Market, growing demand for AR in the e-commerce and retail industries, increasing demand for augmented reality software in consumer electronics, increasing demand for AR-based applications in the automotive sector, and rising technological advancements in medical applications are the significant others factors boosting the market growth of the Augmented Reality Software Market.

Moreover, increasing demand for augmented reality in architecture, developing partnerships between telecom companies and AR manufacturers to decrease latency to invisible levels, and the growing travel and tourism industry growth are opportunities for the Augmented Reality Software Market in the coming future. However, growing security and privacy issues related to augmented reality and extreme usage of augmented reality can occur health problems, fixed processing power, and inadequate storage capacity, and dependent on the technological products the advances in computers and digital networks, which are significant factors hindering the market growth and will challenge the Augmented Reality Software Market in the future.

Global Augmented Reality Software MarketSegmentation Analysis

The Global Augmented Reality Software Market is segmented on the basis of Vertical, Technology, And Geography.

Augmented Reality Software Market, By Vertical

• Enterprise
• Oil & Gas
• Mining
• Telecom
• Aerospace & Defense
• Medical
• Others

Based on Vertical, the market is segmented into Enterprise, Oil & Gas, Mining, Telecom, Aerospace & Defense, Medical, and Others. The medical devices industries hold a large number of shares in the market because increasing demand for advanced technology and rising demand for assistance and monitoring the real-time are the factors increasing the market growth of the market.

Augmented Reality Software Market, By Technology

• 3D Modelling
• Workflow Optimization
• Visualization
• Navigation
• Remote Collaboration
• Documentation
• Others

Based on Technology, the market is segmented into 3D Modelling, Workflow Optimization, Visualization, Navigation, Remote Collaboration, Documentation, and Others. The 3D modeling segment holds a large number of shares in the market because of the increasing demand for advanced technology and its applications are used in many industries like film, animation, gaming, interior design, and architecture are the factors boosting the market growth of the market.

Augmented Reality Software Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the Global Augmented Reality Software Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. the North American region holds a large number of shares in the market because of the growing investments and increasing demand for augmented reality in e-commerce and retail stores in this region. At the same time, Asia-Pacific is the fastest-growing region in the market because the increase in the adoption of AR technology in gaming and entertainment applications increases the market growth of the market.

Key Players

The “Global Augmented Reality Software Market” report will provide valuable insight with an emphasis on the global market including some of the major players such as Wikitude GmbH, Zugara, Inc., Aurasma, Augmate, Ubimax GmbH, PTC, Inc., Daqri LLC, Blippar, Catchoom Technologies S.L., Upskill.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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