Market Size of Enterprise AR Software Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR (2024 - 2029) | 28.12 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Enterprise AR Software Market Analysis
The Enterprise AR Software Market is expected to register a CAGR of 28.12% during the forecast period(2024-2029).
- AR has become a powerful tool for a variety of employee-oriented enterprise scenarios as the application of Enterprise AR is expanding, and almost every industry, including manufacturing, education, entertainment, healthcare, field service, and marketing, has found ways to apply AR technology to improve the process and productivity.
- Augmented Reality (AR) is an overlay of computer-generated digital content over the real-world environment and has emerged as one of the biggest technology trends currently and is on the verge of becoming a part of everyday life. Companies are leveraging augmented reality to streamline their workflow, cut down on logistics and operational costs, and improve efficiency.
- Furthermore, the current market scenario has observed a greater focus on creating content and tools with more smartphone compatibility. This is expected to be driven by photorealistic AR, enabled by the combination of software and hardware advances, one of the most significant launches of dedicated AR frameworks in the smartphone operating systems.
- The COVID-19 pandemic has created an unprecedented impact across the global business landscape with widespread lockdowns, brick-and-mortar retail closures, essential ecommerce delivery limitations, and supply chain disruption. However, from a positive perspective, the pandemic has caused an acceleration of remote working and has increased the adoption of cloud infrastructure services and spending on specialized software. As the hybrid working model is expected to stay even in the post-pandemic age, the enterprise AR software market is expected to gain traction.
- AR software works with devices such as tablets, phones, headsets, and more and supports features such as analytics, remote assistance, content management, etc. This is expected to encourage companies to have their facilities located at different geographical locations towards AR software as this can help them manage a large setup using a small group of people.
Enterprise AR Software Industry Segmentation
The Enterprise AR market is segmented by application (education, healthcare, retail, and manufacturing) and geography.
AR is the most accessible reality technology as users can use their smartphone or tablet to use the AR-based application. Enterprise AR Software market study outlines the comprehensive analysis of the revenues accrued from software application and management software, key factors driving the market's growth, the latest trends, and the competitive landscape.
The Enterprise AR Software Market Market is segmented by Category (Education, Healthcare, Retail, Manufacturing) and Geography.
The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
Category | |
Education | |
Healthcare | |
Retail | |
Manufacturing | |
Other End-user Verticals |
Geography | |
North America | |
Europe | |
Asia-Pacific | |
Rest of the World |
Enterprise AR Software Market Size Summary
The Enterprise AR Software Market is poised for significant growth, driven by the expanding application of augmented reality across various industries such as manufacturing, education, healthcare, and marketing. AR technology, which overlays digital content onto the real world, is becoming increasingly integral to business operations, enhancing productivity and streamlining processes. The market is experiencing a surge in demand due to the shift towards remote and hybrid work models, accelerated by the COVID-19 pandemic. This shift has led to increased investments in cloud infrastructure and specialized software, further propelling the adoption of AR solutions. The market is characterized by the integration of AR with smartphones and other devices, enabling features like analytics and remote assistance, which are crucial for managing geographically dispersed operations.
The Asia-Pacific region is a key player in the Enterprise AR Software Market, with countries like South Korea and Japan leading in adoption due to government support and a robust gaming industry. The region's healthcare sector is also embracing AR technology, revolutionizing telehealth and rehabilitation processes. The market is moderately competitive, with major players like Seiko Epson Corporation, Librestream, and Scope AR expanding their presence through strategic partnerships and product innovations. Recent developments include Snap's launch of AR Enterprise Services for retail and Atlas Copco's acquisition of Extend3D GmbH to enhance industrial AR applications. These advancements highlight the growing importance of AR in improving business efficiencies and customer engagement across various sectors.
Enterprise AR Software Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Industry Value Chain Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Intensity of Competitive Rivalry
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1.3.5 Threat of Substitutes
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1.4 Impact of COVID-19 on the market
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1.5 Market Drivers
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1.5.1 Increased demand for 3D visualization software across various industries.
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1.5.2 Increasing acceptance of AR across industry verticals
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1.6 Market Challenges
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1.6.1 Technical and Regulatory Issues
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2. MARKET SEGMENTATION
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2.1 Category
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2.1.1 Education
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2.1.2 Healthcare
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2.1.3 Retail
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2.1.4 Manufacturing
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2.1.5 Other End-user Verticals
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2.2 Geography
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2.2.1 North America
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2.2.2 Europe
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2.2.3 Asia-Pacific
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2.2.4 Rest of the World
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Enterprise AR Software Market Size FAQs
What is the current Enterprise AR Software Market size?
The Enterprise AR Software Market is projected to register a CAGR of 28.12% during the forecast period (2024-2029)
Who are the key players in Enterprise AR Software Market?
Seiko Epson Corporation, Librestream, PTC, Scope AR and Ubimax GmbH are the major companies operating in the Enterprise AR Software Market.