Industry Background:
The global Augmented Reality Software is expected to witness high demand in the forecasted period due to the growing demand for augmented reality software in consumer electronics. Augmented reality software differs from virtual reality, in virtual reality whole new artificial environment gets created but in AR the existing environment gets overlays with new information top of it. High Demand from Industrial and Automotive Sectors creates a lucrative opportunity in the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | PTC Inc. (United States), Wikitude GmbH (Austria), DAQRI LLC (United States), Zugara, Inc. (United States), Blippar (United Kingdom), Upskill (United States), Aurasma (United Kingdom), Augmate (United States), Catchoom Technologies S.L. (Spain) and Ubimax GmbH (Germany) |
This growth is primarily driven by The Growing Demand for AI-Based Applications and The Increasing Interest of the Large Tech Companies in AR.
Globally, a noticeable market trend is evident High Adoption Of 3D visualization In Medical Sector
The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as PTC Inc. (United States), Wikitude GmbH (Austria), DAQRI LLC (United States), Zugara, Inc. (United States), Blippar (United Kingdom), Upskill (United States), Aurasma (United Kingdom), Augmate (United States), Catchoom Technologies S.L. (Spain) and Ubimax GmbH (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global augmented reality software market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Key Developments in the Market:
On 10th December 2019, PTC has announced a strategic alliance with Magic Leap that will allow enterprise and industrial customers to combine the augmented reality (AR) capabilities of its market-leading Vuforia® Engine solution with the powerful Magic Leap 1 wearable headset.
On 22nd March 2019, Wikitude, the world’s largest independent augmented reality (AR) technology provider, revealed the first steps taken in conjunction with Qualcomm Technologies, Inc to advance immersive AR computing. Wikitude has optimized their AR platform and integrated on XR Viewers powered by Qualcomm® Snapdragon™ 855 Mobile Platform. Extended reality (XR) Viewer devices, announced at Mobile World Congress 2019 combines the compute power of Snapdragon 855 Mobile Platform with the speed of 5G-enabled smartphone provides mobile XR experiences with six degrees of freedom tracking.
Influencing Trend:
High Adoption Of 3D visualization In Medical Sector and Upsurging Demand from AI-based Applications in Retail and E-commerce Sector
Market Growth Drivers:
The Growing Demand for AI-Based Applications and The Increasing Interest of the Large Tech Companies in AR
Challenges:
Low Adoption Rate due to Privacy Issues and Complexities in the Design and Reconfiguration of Applications for Different Platforms
Restraints:
Limited User Interface (UI) Affecting the Navigation Performance of AR Applications
Opportunities:
The Increasing Expenditure in AR Technology and The Growing Use in The Tourism Industries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Augmented Reality Software Market
- Analysis about New Entrants in Augmented Reality Software Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Augmented Reality Software Study Sheds Light on
The Augmented Reality Software Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Augmented Reality Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Augmented Reality Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.