Global Augmented Reality Software Market – Industry Trends and Forecast to 2030

Global Augmented Reality Software Market Analysis and Size

Global augmented reality software market is segmented on the basis offering, device type, application and function. Increasing demand for AR devices and applications in healthcare is a crucial factor accelerating the market growth, also increasing investments in augmented reality market, rising demand for augmented reality in e-commerce and retail stores, rising demand for augmented reality software in consumer electronics, rising demand for AR-based applications in medical sectors and automotive sector, rise in demand for remote collaboration and rising technological advancements in medical applications are the major factors among others boosting the global augmented reality software market.

 The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Data Bridge Market Research analyses that the global augmented reality software market which was USD 11,337.09 million in 2022, is expected to reach USD 20,711.40 million by 2030, and is expected to undergo a CAGR of 7.9% during the forecast period of 2023 to 2030. “Hardware” dominates the offering segment of the global augmented reality software market due to growing application in enterprise, consumer, commercial, healthcare, and automotive industry is directly influencing the growth rate of the market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Augmented reality is defined as the incorporation of digital information along with the real-time user environment in order to produce an illusion of the enhanced version of the real world. This technology uses numerous visual along with sound and other sensory stimuli. It generally uses the existing environment and overlays the new information over its top and is considered as a growing trend mainly in mobile computing and business applications.

Global Augmented Reality Software Market Dynamics

Driver

• Increasing Demand for AR in Various Industries

AR software enables businesses to create interactive and immersive experiences for their customers, improving engagement and enhancing the overall user experience. Industries such as gaming, entertainment, retail, healthcare, real estate, and manufacturing have been actively adopting AR software to offer unique and compelling experiences to their target audiences. In the gaming and entertainment industry, AR software has been driving the development of innovative games and applications that blend virtual elements with the real world, creating immersive and interactive experiences for users. This has resulted in a surge in demand for AR software tools and platforms that enable game developers to create AR-based content.

Opportunities

• Industry Specific Applications

AR software can be tailored to specific industries, providing opportunities for businesses to develop industry-specific applications. For instance, in architecture and construction, AR software can be used for virtual building design and walkthroughs. In education, AR software can enhance learning experiences by providing interactive and immersive content. Identifying industry-specific needs and developing AR software solutions to address them can lead to new market opportunities.

• Enterprise Adoption

 There is a growing trend of AR software being adopted by enterprises for various purposes such as employee training, remote collaboration, and maintenance and repair procedures. Developing AR software that caters to enterprise needs, such as providing intuitive authoring tools or integration with existing enterprise systems, can open up opportunities to serve this market segment.

Restraints/Challenges

• Cost and Investment

Developing AR software and applications can involve significant costs, including research and development, hardware, software, and infrastructure requirements. This can be a barrier for smaller businesses or startups with limited resources. In addition, the cost of AR-enabled devices for end-users may also impact the adoption rate of AR software.

• Technical Challenges

AR software development requires expertise in computer vision, 3D modeling, and software development. The complexity of these technologies can present challenges in terms of skill requirements and resources needed to build high-quality AR software solutions. Addressing technical challenges and ensuring seamless performance across different devices and platforms can be a restraint.

This global augmented reality software market and industrial maintenance services in operational improvement and operational maintenance market,  report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the industrial maintenance services in operational improvement and operational maintenance market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In March 2020, Epson America, Inc., a division of Japan's Seiko Epson Corporation, partnered with 3D HoloGroup (US), a company that specialises in AR software architecture and systems integration, to sell Epson's AR glasses
• In June 2019, PTC acquired TWNKLS (Netherlands), a provider of practical AR solutions for Industry 4.0 to accelerate the development of AR enterprise apps
• In May 2019, Microsoft released the second-generation HoloLens, the HoloLens 2. The HoloLens 2 complete set includes free trials of Unity Pro, Azure credits, and the Unity PiXYZ CAD data plugin. In addition, the company announced Unreal Engine 4 support for HoloLens 2, which will provide customers with a more realistic experience

Global Augmented Reality Software Market Scope

The global augmented reality software market is segmented on the basis of basis of offering, device type, application and function. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Offerings

• Hardware
• Software

Device Types

• Head-mounted
• Head-up

Applications

• Enterprise
• Consumer
• Commercial
• Healthcare
• Automotive

Functions

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

Global Augmented Reality Software Market Regional Analysis/Insights

The global augmented reality software market is segmented on the basis of offering, device type, application and function as referenced above.

The countries covered in the global augmented reality software market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)

North America dominates the global augmented reality software market due to increasing investments in augmented reality market and rising demand for augmented reality in e-commerce and retail stores in this region.

 Asia-Pacific and Europe are the expected region in global augmented reality software market in terms of growth in augmented reality software market due to growing adoption of AR technology in gaming and entertainment applications and rapid adoption of AR technology drive by the continued rollout of high-speed 5G networks in this region.

• On the other hand, prevalence of advanced infrastructure and presence of major players in the region will bolster the growth of North America is the global market share. As a result, the factors will be responsible in making North America, the region, to score the highest growth rate in the forecast period of 2023 to 2030.  

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data

Competitive Landscape and Global Augmented Reality Software Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the company’s focus related to global augmented reality software market

Some of the major players operating in the global augmented reality software market are:

• Atheer, Inc. (U.S.)
• Augmate Corporation (U.S.)
• Hewlett-Packard Development Company. L.P. (U.S.)
• Blippar, Catchoom (U.K.)
• DAQRI, EON Reality Inc. (U.S.)
• Immerseport, Infinity Augmented Reality Ltd (U.S.)
• Inglobe Technologies (U.S.)
• JBK Consulting (U.S.)
• Kudan (U.S.)
• Magic Leap, Inc. (U.S.)
• Marxent Labs LLC (U.S.)
• Mortar Studios, PTC, Inc. (U.S.)
• Pristine Inc. (U.S.)
• Re’flekt GmbH (U.S.)
• Scope AR (U.S.)
• Ubimax GmbH (U.S.)
• Upskill (U.S.)
• Viewar GmbH (U.S.)
• Wear S.R.L. (U.S.)
• Wikitude GmbH and Zugara, Inc (U.S.)

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