The Augmented Reality Software Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Augmented Reality Software Global Market Report 2024, The augmented reality software market size has grown exponentially in recent years. It will grow from $47.88 billion in 2023 to $74 billion in 2024 at a compound annual growth rate (CAGR) of 54.5%. The growth in the historic period can be attributed to technological advancements, smartphone adoption, gaming and entertainment, industrial and enterprise applications, healthcare and education.
The augmented reality software market size is expected to see exponentially grown in the next few years. It will grow to $291.73 billion in 2028 at a compound annual growth rate (CAGR) of 40.9%. The growth in the forecast period can be attributed to enterprise adoption, healthcare innovation, e-commerce and retail, advertising and marketing, remote collaboration. Major trends in the forecast period include ar cloud, spatial computing, immersive ar, healthcare and medical ar.
The steps for recovery from COVID-19 and future productivity in the economy will need augmented reality to adjust to the new normal, contributing to the augmented reality software market growth during the forecast period. Many companies are facing an incredible loss of human experience and intelligence due to the COVID-19 pandemic. Many businesses are just focusing on preserving the intelligence and surviving this crisis rather than investments and augmented reality might be much cheaper than expected. For example, PTC, during this COVID-19 crisis, made available Vuforia Chalk for companies letting them to start adapting to AR for the COVID-19 recovery. Vuforia Chalk and Microsoft Dynamics are some of the augmented reality programs which are used by an employee in the future to retrain or learn a task from the expert’s already preserved notes and set of instructions using smartphones, tablets, and other devices. AR-based training solutions will help companies to preserve and pass on the required intelligence to the employees faster once the path of recovery begins.
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The Augmented Reality Software Market Covered In This Report Is Segmented –
1) By Deployment: Cloud Based, On-Premise
2) By Software Function: 3D Modelling, Workflow optimization, Visualization, Navigation, Remote
collaboration, Documentation, Other Software Functions
3) By Vertical: Enterprise, Oil and gas, Mining, Telecom, Aerospace and defense, Medical, Other Verticals
Recombinant DNA technology (rDNA technology) is increasingly being implemented in the biosimilar growth hormone industry. The development of biosimilar growth hormone by using recombinant DNA technology (rDNA technology) is an emerging trend. For instance, in February 2021, Pfizer Inc., a US-based pharmaceutical company announced the initiation of Phase III clinical trial to evaluate the efficacy and safety of somatropin in a cohort of Japanese participants with Prader-Willi Syndrome (PWS). Somatropin, a growth hormone, is administered to address growth hormone deficiency (GHD) in children. The trial, on the other hand, is a multicenter, open-label, multi-cohort study.
The Augmented Reality Software Market Report Table Of Contents Includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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