AR & VR Software Market worth $43.96 billion by 2030, growing at a CAGR of 18.36% – Exclusive Report by 360iResearch
The Global AR & VR Software Market to grow from USD 11.40 billion in 2022 to USD 43.96 billion by 2030, at a CAGR of 18.36%.
PUNE, MAHARASHTRA, INDIA , November 8, 2023 /EINPresswire.com/ — The “AR & VR Software Market by Type (AR Software, VR Software), Platform (Console, Desktop, Headsets), Software Type, Deployment, End-User – Global Forecast 2023-2030″ report has been added to 360iResearch.com’s offering.
The Global AR & VR Software Market to grow from USD 11.40 billion in 2022 to USD 43.96 billion by 2030, at a CAGR of 18.36%.
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Augmented reality (AR) and virtual reality (VR) software are interactive digital platforms that enhance the real world with computer-generated perceptual information. These technologies integrate digital information with the user’s environment in real time through AR or create a fully simulated experience of a different environment through VR. By harnessing advanced 3D graphics, data processing capabilities, and sensor-based input devices, AR & VR software enables the development of immersive applications spanning various sectors, including commercial and business use cases. Meanwhile, the growing adoption of AR & VR software in the entertainment industry and the increased need for immersive learning in the education and healthcare industry enhance the market’s potential growth. In addition, the growing number of AR & VR software companies worldwide significantly contribute to the expansion of the market. However, significant cost and privacy issues associated with the AR & VR software hamper the market growth. Market players are working towards innovative strategies such as investing in research to reduce latency issues, fostering cross-platform compatibility and seamless integration between applications, and enhancing data protection measures through encryption and blockchain technology. On the other hand, the adoption of AR & VR in industrial applications subsequently enhances the improvements in the manufacturing process and contributes to the market’s future growth.
Type: Utilization of AR & VR software as a immersive technology to cater a consumer needs
AR software is digitally connected software providing devices such as tablets, phones, headsets, and more real-world experience by generating objects into the real world. In addition, VR is a completely 3D environment-created software that immerses the user into the 3D environment, enabling them to interact with the virtual world in a real way. Virtual reality replaces your vision, while augmented reality enhances it. AR users retain control of their presence in the real world, whereas VR necessitates the use of a headset and other wearable devices.
Platform: Widening availability of AR & VR software through computer enabled platforms
The rapid deployment of AR & VR software in mobile and desktop platforms allows people to interact with virtual objects on the mobile and desktop screen, providing a mixture of display with the real environment and virtual 3D objects. Additionally, VR headsets and console VR allow viewers to see images superimposed onto the real background. The uses of AR and VR for these platforms provide a seamless experience to consumers across industry verticals.
End-User: Rising uses of VR software in educational applications for a training applications
The advent of AR & VR software has revolutionized various sectors by providing immersive experiences for users. AR enhances traditional learning methods in the education sector by overlaying digital information onto physical objects or environments. AR & VR technologies used in the aerospace and defense sector are driven by the need for advanced training, simulation, and maintenance support. Retailers are adopting AR & VR solutions to offer immersive shopping experiences and improve customer engagement. The healthcare industry utilizes AR and VR software for medical training, patient treatment, and rehabilitation. In addition, the automotive and transportation industry widely uses AR and VR software for training purposes, including driving simulators, and to empower customers to customize car models and leverage augmented windshields to increase driver and pilot safety. Meanwhile, VR has gained traction in gaming and video streaming platforms, offering users an immersive experience by transporting them into the heart of the action. The entertainment industry represents a rising interest in AR & VR technologies due to consumers’ desire for immersive and interactive experiences. In this sector, AR adds a layer of digital interactivity to existing physical environments, while VR creates new worlds for users to explore.
Deployment: Increasing adoption of cloud-based VR in commercial applications for real time experience
The deployment of AR and VR through a cloud platform is a persistent digital copy of an environment based on the real world’s spatial properties, enabling the sharing of AR experiences with multiple users in real-time. On the other hand, on-premise and hybrid AR & VR combine the possible aspects of both commercial applications. With on-premise and hybrid deployments of AR & VR software in commercial applications, these software helps them to integrate virtual objects that appear as a natural part of the real world and provide seamlessly integrated solutions to the end users, allowing them to support and cater to various industry challenges.
Software Type: Proliferating usage of visualization software to transform user experiences and enhance productivity
3D modeling software enables designers to create complex digital models of real-world objects. 3D modeling software is widely used in industries such as architecture, gaming, and film production, 3D modeling software. AR remote collaboration tools are revolutionizing communication by providing interactive and immersive environments. Documentation software streamlines documentation processes for many industries, such as construction or healthcare. AR & VR-based solutions allow users to access important documents and data through an augmented or virtual environment without disrupting workflows. AR & VR navigation applications enhance user experiences by providing intuitive directions and real-time location-based information. Complex data visualization benefits greatly from AR & VR technology, enabling users to interact with and understand information more efficiently. VR content creation software enables content creators to design captivating environments. Workflow optimization software enhances efficiency across various industries by optimizing workflows such as equipment maintenance, employee training, or retail store management.
Regional Insights:
In America, the United States, and Canada are key countries in the AR & VR software market due to the U.S. government has filed numerous patents in this domain, focusing on military training and healthcare applications such as virtual health treatment and pain management. The European countries have also shown significant interest in AR & VR technologies for education, entertainment, and industrial tasks. Customers in this region have been found to prioritize high-quality content and seamless integration with the uses of existing AR & VR software embedded devices. In addition, in the Middle East and Africa (MEA) region, countries including Israel and the United Arab Emirates (UAE) are investing heavily in cutting-edge technology such as augmented reality (AR) and virtual reality (VR) due to industrial and aerospace industry expansion. On the other hand, Asia-Pacific countries such as China, Japan, India, South Korea, Australia, and New Zealand are contributing significantly to global advancements in AR & VR software development. Digital initiatives such as ‘Digital India’ and ‘Digital China Strategy’ aggressively contributed to the strong market expansion for the AR & VR software in this region.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the AR & VR Software Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the AR & VR Software Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the AR & VR Software Market, highlighting leading vendors and their innovative profiles. These include AB Volvo, Advanced Micro Devices, Inc., Amazon Web Services, Inc., Appinventiv Technologies Pvt. Ltd., Apple Inc., ARLOOPA Inc., Autodesk, Inc., Blippar Ltd., Cisco Systems, Inc., Contentful Group, Cosm Immersive, Epic Games, Inc., Fyusion, Inc. by Cox Automotive, Inc., Google LLC by Alphabet Inc., HQSoftware, Immersed Inc, Inglobe Technologies Srl, Intel Corporation, International Business Machines Corporation, Matterport, Inc., Meta Platforms, Inc., Microsoft Corporation, Mimic Technologies, Inc. by Surgical Science Sweden AB, NEC Corporation, Niantic, Inc., Nuevo Sentido Tecnológico Realidad Aumentada, S.L., Nvidia Corporation, Oracle Corporation, Pixotope Technologies, Plutomen Technologies Pvt Ltd., Pratiti Technologies Pvt Ltd., PTC Inc., Qualcomm Incorporated, REWO by VIAR d.o.o., Salesforce, Inc., SAP SE, SHAMLA TECH Solutions, Sigma Software LLC, Taqtile, Inc., Unity Software Inc., VironIT, Vodafone Group plc, and Zakeke by Futurenext S.r.l..
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Market Segmentation & Coverage:
This research report categorizes the AR & VR Software Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across AR Software and VR Software. The VR Software commanded largest market share of 56.23% in 2022, followed by AR Software.
Based on Platform, market is studied across Console, Desktop, Headsets, and Mobile. The Console commanded largest market share of 39.12% in 2022, followed by Mobile.
Based on Software Type, market is studied across 3D Modeling, AR Remote Collaboration, Documentation, Navigation, Visualization, VR Content Creation, and Workflow Optimization. The Navigation commanded largest market share of 21.23% in 2022, followed by VR Content Creation.
Based on Deployment, market is studied across Hybrid, On-Cloud, and On-Premises. The On-Cloud commanded largest market share of 56.23% in 2022, followed by Hybrid.
Based on End-User, market is studied across Aerospace & Defense, Automotive & Transportation, Consumer Goods & Retail, Education, Entertainment & Gaming, and Healthcare. The Entertainment & Gaming commanded largest market share of 36.19% in 2022, followed by Consumer Goods & Retail.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 39.23% in 2022, followed by Americas.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. AR & VR Software Market, by Type
7. AR & VR Software Market, by Platform
8. AR & VR Software Market, by Software Type
9. AR & VR Software Market, by Deployment
10. AR & VR Software Market, by End-User
11. Americas AR & VR Software Market
12. Asia-Pacific AR & VR Software Market
13. Europe, Middle East & Africa AR & VR Software Market
14. Competitive Landscape
15. Competitive Portfolio
16. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the AR & VR Software Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the AR & VR Software Market?
3. What is the competitive strategic window for opportunities in the AR & VR Software Market?
4. What are the technology trends and regulatory frameworks in the AR & VR Software Market?
5. What is the market share of the leading vendors in the AR & VR Software Market?
6. What modes and strategic moves are considered suitable for entering the AR & VR Software Market?
Mr. Ketan Rohom
360iResearch
+1 530-264-8485
ketan@360iresearch.com
