The increasing demand for AR-based software applications for 3D visualization in the medical sector, growing interest of large tech companies in AR, and increase in demand for AR in the e-commerce and retail sectors are the major drivers for the augmented reality software market.
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The augmented reality software market was valued at USD 2.13 billion in 2016 and is expected to reach USD 35.22 billion by 2022, growing at a CAGR of 57.36% during the forecast period.
However, the limited processing power and inadequate storage are some of the factors restraining the growth of the augmented reality software market.
Augmented reality is used in the enterprise vertical mainly for the training of personnel, providing information about the industrial facility, remodeling and redesigning, and industrial simulations.
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Traditionally, training was conducted using classroom methods; however, the introduction of augmented reality has helped enhance the training methodology. Augmented reality would also help in conducting assembly, maintenance, and repair tasks smoothly and reduce the chance of errors.
This would help boost the market for the enterprise vertical.
Major players of Augmented Reality Software Market Report are:
The report also profiles the key players in the augmented reality software market. The prominent players profiled in this report arePTC, Inc.
(U.S.), Wikitude GmbH (Austria), DAQRI LLC (U.S.), Zugara, Inc. (U.S.), Blippar (U.K.), Upskill (U.S.), Aurasma (U.K.), Augmate (U.S.), Catchoom Technologies S.L.
(Spain), and Ubimax GmbH (Germany).
The complete report of Augmented Reality Software Market by Software Function (Remote Collaboration, Workflow Optimization), Vertical (Consumer, Commercial, Enterprise, Medical, Aerospace & Defense, Mining, Telecom & IT/Data Centers), and Geography - Global Forecast to 2022 is now available on www.rnrmarketresearch.com/augmente…rket-report.html
Break of primary participants in Augmented Reality Software Market was as mentioned below:
By Company Type: Tier 1- 48%, Tier 2- 39%, and Others- 13%
By Designation: C-level- 48%, Director-level- 31%, and Others- 21%
By Region: North America- 12%, Europe- 27%, Asia Pacific- 37%, South America- 8%, and the Middle East & Africa- 16%
FAQ’s regarding the Augmented Reality Software Market Report are:
What is Market Penetration of Augmented Reality Software?
Comprehensive information on the product portfolios of the top players in the Augmented Reality Software market
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Detailed insights on the upcoming technologies, R&D activities, and product launches in the Augmented Reality Software market
What is Competitive Assessment of Augmented Reality Software?
In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the Augmented Reality Software market
What is Market Development of Augmented Reality Software?
Comprehensive information about emerging markets. This report analyzes the market for various Augmented Reality Software products across geographies
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Exhaustive information about new products, untapped geographies, recent developments, and investments in the Augmented Reality Software market
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This research report categorizes the augmented reality software market on the basis of software function, vertical, and geography. It also provides the value chain analysis, along with the description of each of its stage and its contribution to the augmented reality software market.
The report also discusses the major drivers, restraints, challenges, and opportunities for the market.
The augmented reality software market in Asia Pacific is expected to grow at a high rate in verticals such as consumer, enterprise, and commercial. The increasing number of electronics players in the region is further expected to drive the growth of the APAC augmented reality software market.
The high growth in the consumer markets would be the major factor propelling the growth of the augmented reality software market in the APAC region.
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