Augmented Reality Software Market Analysis 2024-2033 : Market Size, Top Segments, Leading Region Forecast | Wikitude GmbH, DAQRI LLC, Zugara Inc., HP Inc., PTC Inc., Catchoom Technologies S.L., Ubimax GmbH

"The augmented reality software market size has grown exponentially in recent years. It will grow from $47.88 billion in 2023 to $74 billion in 2024 at a compound annual growth rate (CAGR) of 54.5%. The growth in the historic period can be attributed to technological advancements, smartphone adoption, gaming and entertainment, industrial and enterprise applications, healthcare and education.

The augmented reality software market size is expected to see exponentially grown in the next few years. It will grow to $291.73 billion in 2028 at a compound annual growth rate (CAGR) of 40.9%. The growth in the forecast period can be attributed to enterprise adoption, healthcare innovation, e-commerce and retail, advertising and marketing, remote collaboration. Major trends in the forecast period include ar cloud, spatial computing, immersive ar, healthcare and medical ar.

Market Overview -
Augmented reality (AR) software is a tool that digitally augments representation of the real physical environment using digital visual components, music, or other sensory stimulation given via technology.

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Navigating The New Normal Augmented Reality's Crucial Role In Covid-19 Recovery And Post-Pandemic Productivity
The steps for recovery from COVID-19 and future productivity in the economy will need augmented reality to adjust to the new normal, contributing to the augmented reality software market growth during the forecast period. Many companies are facing an incredible loss of human experience and intelligence due to the COVID-19 pandemic. Many businesses are just focusing on preserving the intelligence and surviving this crisis rather than investments and augmented reality might be much cheaper than expected. For example, PTC, during this COVID-19 crisis, made available Vuforia Chalk for companies letting them to start adapting to AR for the COVID-19 recovery. Vuforia Chalk and Microsoft Dynamics are some of the augmented reality programs which are used by an employee in the future to retrain or learn a task from the expert's already preserved notes and set of instructions using smartphones, tablets, and other devices. AR-based training solutions will help companies to preserve and pass on the required intelligence to the employees faster once the path of recovery begins.

Competitive Landscape -
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, Pixar Animation Studios, Meta Platforms Inc., Amazon.com Inc., Inter IKEA Systems B.V., Bayerische Motoren Werke AG (BMW), 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

The Synergy Of Artificial Intelligence And Augmented Reality In Revolutionizing Experiences And Market Growth
The combination of artificial intelligence and augmented reality shows many opportunities as both are separate but complementary technologies. Artificial intelligence models will enhance augmented reality experience by adding interactivity and effects to AR scenes like real-world object tagging, enabling an AR system to predict the appropriate interface for a person in each virtual environment, and enhances AR to create a multidimensional and responsive virtual experience that can bring in new levels of insight and creativity. For instance, in January 2022, AR's Games, an Italian gaming firm announced that it is set to launch the world's first artificial intelligence-based augmented reality video game. This game combines artificial intelligence and augmented reality to develop a first-person shooting game made with real people. It is named The Real Tournament and made exclusively for mobile devices. This combination will boost the augmented reality software market growth during the forecast period.

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Key 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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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