Global Industrial AR Platforms Market Size By Type (Cloud-Based, Web-Based), By Application (Large Enterprises, SMEs), By Geographic Scope And Forecast

Industrial AR Platforms Market Size And Forecast

Industrial AR Platforms Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2023 to 2030.

The automobile industry is also moving toward the augmented reality business. Many automobile companies are making use of artificial intelligence technologies, along with augmented Reality to mark their presence in the market. Manufacturers have already included augmented reality features. Furthermore, new auto manufacturers are investing in this space to explore new applications. The Global Industrial AR Platforms Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Industrial AR Platforms Market Definition

Industrial AR Platforms are used to improve the business processes of workforces in industrial fields. Interactive AR content can help to better these employees’ productivity, effectiveness, and safety. Industrial AR software empowers users to upload their own AR content, typically created with an AR SDK, and should have the ability to store it within the platform as well. This software can be deployed simultaneously to multiple users. The Industrial AR platform enables users to scan objects to create 3D models of real objects and also provides the ability to annotate 3D models. Furthermore, these platform gives remote users video access to view what the user sees.

Industrial AR platforms enable users to scan real-life objects and virtually add tags and other notes to those scans, facilitating improved on-the-job training. This also allows employees to access vital documentation whenever they need it. Many tools also have video access functionality to allow remote team members to see what the user sees. Industrial AR should not be confused with AR training simulator software, as the latter is not specific to industrial industries.

Global Industrial AR Platforms Market Overview

While AR is still over a decade away from achieving its full market potential, technological advancements in the space industry have accelerated the market studied over the past two years. The increasing availability of content and the launch of developer tools, drive this segment’s growth. Also, the increasing adoption and availability of the cloud have been major drivers for the Industrial AR Platforms Market. It provides the platform and infrastructure to address the scalability limitation of on-premise AR experiences. The automobile industry is also moving toward the augmented reality business.

Many automobile companies are making use of artificial intelligence technologies, along with augmented Reality to mark their presence in the market. Manufacturers have already included augmented reality features. Furthermore, new auto manufacturers are investing in this space to explore new applications. AR offers a large number of technology solutions to the retail industry, which improves the interaction between retailers and customers. Emerging trends such as pop-up stores in the retail segment are anticipated to fuel growth. Gesture-based technology is an important part of pop-up stores, along with a camera and iPad catalog, as they aim at encouraging customer participation.

Furthermore, retailers willing to enter the online shopping industry find the lack of interaction with physical products as a barrier to making purchases. AR enables virtual trial rooms, which allow customers to try on products online. Thus, technological innovations related to high-end products with enhanced features are expected to offer abundant opportunities over the forecast period. However, initial costs have been at higher price points, making it hard for consumers, but they are still relatively inexpensive for enterprises. This acts as a restraining factor for the market growth.

Global Industrial AR Platforms Market Segmentation Analysis

The Global Industrial AR Platforms Market is segmented On The Basis of Type, Application, And Geography.

Industrial AR Platforms Market, By Type

• Cloud-Based
• Web-Based

Based on Type, the market is bifurcated into Cloud-Based and Web-Based. The cloud-based segment is presumed to emerge as the fastest-growing segment and gain traction over the forecast period. Cloud-based segment allows users access to software applications that run on shared computing resources like processing power, memory, and disk storage via the Internet.

Industrial AR Platforms Market, By Application

• Large Enterprises
• SMEs

Based on Application, the market is bifurcated into Large Enterprises and SMEs. Large Enterprises are anticipated to become the fastest-growing market in the forecast duration due to the high adoption rate of IT tools for surviving in the hypercompetitive market. This led to the emergence of AR platforms.

Industrial AR Platforms Market, By Geography

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

Based on Regional Analysis, the Global Industrial AR Platforms Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is taking up the largest share in the Industrial AR Platforms Market and it is estimated that the region will continue dominating the market until the next couple of years. The Asia Pacific and Europe are also displaying robust growth due to the emergence of huge market growth opportunities in these regions.

Key Players

The “Global Industrial AR Platforms Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Apprentice, Proceedix, Vuforia, DAQRI, Augmentir, Inscape AR, AugmentedPro, PaleBlue, Skylight, and Atheer.

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 product benchmarking and SWOT analysis.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into Active, Cutting Edge, Emerging, and Innovators categories.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Industrial AR Platforms Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Industrial AR Platforms Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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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 t