Global Augmented Reality Software Market By Function (Remote collaboration, Workflow optimization, Visualization, Documentation, and 3D Modelling, Navigation), Vertical (consumer, commercial, enterprise, medical, aerospace and defense, oil and gas, mining, telecom and IT/data centers), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Augmented Reality Software Market
Global Augmented Reality Software Market accounted for USD 8.51 billion in 2018 to an estimated value of USD 333.8 billion growing at a CAGR of 58.20% during the forecast period of 2019 to 2026. The upcoming market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
Market Definition: Global Augmented Reality Software Market
Augmented reality software’s 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. The Augmented Reality software’s are used in different industries such as healthcare, public, safety, gas, oil, mining, telecom, and others. Increased demand for augmented reality in e-commerce and retail stores may act as a major driver in the growth of augmented reality software market. On the other side, lack of interaction with physical products may hamper the market.
- Increased demand for augmented reality in e-commerce and retail stores
- Growing demand for augmented reality software in consumer electronics
- Increasing demand for AR-based applications in medical sectors as well as Automotive sector
- Lack of interaction with physical products
- Limited processing power and inadequate storage
Segmentation: Global Augmented Reality Software Market
- Remote collaboration
- Workflow optimization
- 3d modelling
- Tourism and sightseeing
- Aerospace and defense
- Oil and gas
- IT/data centers
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In April, 2019, Shutterstock recently entered in the AR market. The ‘view room’ mode has been introduced by them to enhance the customer experience. The app will help to select any image featured on the Shutterstock platform and view it in real world location.
- In May 2018, The augmented reality software are soon hit the U.S Market for the Car repair service, The Porsche introduced ‘Tech live Look’ through their exclusive dealer in the North America. This technology will help to reduce the time by almost 40percent.
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. The report includes market shares of Augmented Reality Software market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors:
Some of the major players of the global Augmented Reality Software market are Atheer, Inc., Augmate Corporation, Hewlett-Packard Development Company. L.P., Blippar, Catchoom, DAQRI, EON Reality Inc., Immerseport, Infinity Augmented Reality, Inglobe Technologies, Jbknowledge, Inc. (US), Kudan (U.K.), Magic Leap, Inc., Marxent Labs LLC, Mortar Studios (Australia), PTC, Inc., Pristine Inc., Re’flekt GmbH (Germany), Scope AR (Canada), Ubimax GmbH, Upskill, Viewar GmbH (Austria), Wear S.R.L. (Italy), Wikitude GmbH, Zugara, Inc. and others.
Research Methodology: Global Augmented Reality Software Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved