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Transformative Trends Impacting the Augmented Reality Software and Services Market Landscape: Simulating Robotic Movements For Enhanced Interaction And Visualization
Augmented Reality Software and Services Market
How Large Will the Augmented Reality Software and Services Market Size By 2025?
In recent times, the market size for augmented reality software and services has seen a significant expansion. It is projected to increase from $28.63 billion in 2024 to a whopping $45.14 billion in 2025, representing a compound annual growth rate (CAGR) of 57.7%. The upward trend during the historic period is due to factors such as adoption in the entertainment sector, integration in enterprises, the emergence of augmented reality hardware, advancements in developer tools, and enhancements in user interface.
How Big Is the Augmented Reality Software and Services Market Size Expected to Grow by 2029?
The market size for augmented reality software and services is predicted to rise dramatically in the coming years. It is anticipated to reach $298.07 billion in 2029 with a compound annual growth rate (CAGR) of 60.3%. The expected growth within the forecast period is due to factors such as integration with 5G technology, increase in enterprise applications, user-friendly AR applications, and AR cloud development. Some prominent trends likely to shape the forecast period include captivating gaming experiences, use of AR in retail and e-commerce, remote teamwork and assistance, solutions for education and training, and advancements in spatial computing.
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Which Key Market Drivers Powering Augmented Reality Software and Services Market Expansion and Growth?
The use of Augmented Reality (AR) has been on the rise across several sectors, including amusement, retail, entertainment, and notably the medical sector. In the medical field, AR software has seen a surge in usage for surgeries and diagnoses, enhancing accuracy during procedures, minimizing medical mistakes, and aiding both physicians and patients in better comprehending intricate health issues. Illustrating this trend, professionals at the Imperial College and St. Mary's Hospital in London have begun incorporating Microsoft's HoloLens AR glasses in their practice of reconstructive surgery for severe injury patients. The prior dependence on handheld scanners to find critical blood vessels near the injury area often complicated surgeries. The accelerated uptake of AR across numerous industries is fueling the growth of the market for augmented reality software and services.
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Which Fast-Growing Trends Are Poised to Disrupt the Augmented Reality Software and Services Market?
Leading corporations involved in the augmented reality software and services industry are concentrating on introducing innovative products that can create an emulation of robotic movements with a virtual gripper. This approach secures a competitive advantage for them. By using augmented reality (AR) to simulate robot movements with a virtual gripper, users can supervise and engage with the robot's operations in real time. This practical involvement allows tasks like manipulating objects to be conducted more efficiently. This technology melds ordinary surroundings with the virtual movements of robots to impart an improved training or design visualization experience. A case in point is Kuka AG, a robotics company based in Germany, which in February 2024 debuted its revolutionary augmented reality (AR) software, KUKA.MixedReality. The main objective of this software is to augment the assembly and operation of robotic systems. The software blends real and virtual landscapes so that users can visualize robotic cells using their smartphones, ultimately enabling more prompt, secure, and user-friendly robot launches.
What Are the Emerging Segments in the Augmented Reality Software and Services Market?
The augmented reality software and services market covered in this report is segmented -
1) By Software Function: Remote Collaboration, Workflow Optimization, Visualization, Documentation, 3D Modelling, Navigation, Other Software Functions
2) By Vertical: Aerospace And Defense, Medical, Commercial, Oil And Gas, Mining, Telecom, IT Or Data Centers, Enterprise, Consumer, Other Verticals
3) By End-User Type: Commercial, Consumer
Subsegments:
1) By Remote Collaboration: Real-Time Communication And Collaboration Tools, Virtual Meetings And Conferences, Remote Support And Troubleshooting
2) By Workflow Optimization: Task Automation Tools, Process Streamlining Solutions, Performance Monitoring And Analytics
3) By Visualization: 3D Visualization, Virtual Prototyping, Data Visualization And Analytics
4) By Documentation: Digital Manuals And Guides, AR-Based Documentation Tools, Real-Time Data Capture For Documentation
5) By 3D Modelling: 3D Object Scanning, 3D Model Creation Tools, Virtual Design And Prototyping
6) By Navigation: Indoor Navigation Systems, Location-Based AR Navigation, Real-Time Pathfinding Solutions
7) By Other Software Functions: Training And Simulation, Gamification For Learning, marketing And Customer Engagement Tools
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Who Are the Global Leaders in the Augmented Reality Software and Services Market?
Major companies operating in the augmented reality software and services market include PTC Inc., Wikitude GmbH, Daqri LLC, Zugara Inc., Niantic Inc., Augmate Corporation, Ubimax GmbH, Upskill, Catchoom Technologies S.L., Aurasma, EON Reality Inc., Hewlett-Packard Development Company LP, Zappar Ltd., Immerseport, Infinity Augmented Reality Inc., Inglobe Technologies Arl, Jbknowledge Inc., Kudan, Magic Leap Inc., Marxent Labs LLC, Mortar Studios Ltd., Amazon Web Services Inc., Re'flekt GmbH, Scope Technologies Inc., Viewar GmbH, Atheer Inc., ARToolKit, Arway Corporation, CraftAR, EasyAR
Which are the Top Profitable Regional Markets for the Augmented Reality Software and Services Industry?
Asia-Pacific was the largest region in the augmented reality (AR) software and services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the augmented reality software and services industry during the forecast period. The regions covered in the augmented reality software and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Global Augmented Reality and Virtual Reality Market – Global Industry Analysis and Forecast (2017-2026) _ by Technology (Marker-Based, Marker Less and Others), by Device Type (Handheld Device, Head-Up Display, and Others), by Vertical, By Application, and by Geography
Market Scenario
Global Augmented Reality and Virtual Reality Market was valued US$ 6.1 Bn in 2017, and is expected to reach US$ 58.2 Bn by 2026, at a CAGR of 32.57% during forecast period.
Augmented…
