The Augmented Reality Software and Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Augmented Reality Software and Services Global Market Report 2024, 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 market penetration in entertainment, enterprise adoption, rise of ar hardware, development of developer tools, improvement in user interface.
The augmented reality software market size is expected to see exponential growth in the next few years. It will grow to $333.06 billion in 2028 at a compound annual growth rate (CAGR) of 45.7%. The growth in the forecast period can be attributed to integration with 5g technology, expanded enterprise applications, expanded enterprise applications, , consumer-friendly ar apps, ar cloud development. Major trends in the forecast period include immersive gaming experiences, ar in retail and e-commerce, remote assistance and collaboration, education and training solutions, spatial computing advancements.
Augmented reality (AR) is increasingly used in various fields such as amusements, retail, entertainment, and medicine. In medicine, the practice of using AR software for surgery, and diagnosis has increased in recent years as it improves precision during operations, reduces medical errors, and gives doctors and patients a better understanding of complex medical problems. For instance, the surgeons and doctors at the Imperial College and St. Mary’s Hospital in London, have started practicing this method by using Microsoft’s HoloLens AR glasses during reconstructive surgery on patients who have suffered severe injuries. Earlier, handheld scanners were used to locate major blood vessels near the wound, making the surgery difficult. Increase in use of AR in various fields drives the growth of the augmented reality software and services market.
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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 & Defense; Medical; Commercial; Oil & Gas; Mining; Telecom; IT/Data Centers; Enterprise; Consumer; Other Verticals
3) By End-User Type: Commercial; Consumer
The augmented reality software and services market report table of contents includes:
1. Executive Summary
2. Augmented Reality Software Market Characteristics
3. Augmented Reality Software Market Trends And Strategies
4. Augmented Reality Software Market – Macro Economic Scenario
5. Global Augmented Reality Software Market Size and Growth
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31. Global Augmented Reality Software Market Competitive Benchmarking
32. Global Augmented Reality Software Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Augmented Reality Software Market
34. Augmented Reality Software Market Future Outlook and Potential Analysis
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