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Augmented reality (AR) are expected to drive innovation in augmented reality software and services manufacturing, thus driving the market during the forecast period.

The global augmented reality software and services market is expected to grow from $11.45 billion in 2022 to $18.14 billion in 2023 at a compound annual growth rate (CAGR) of 58.4%. The augmented reality software and services market is expected to grow from $114.59 billion in 2027 at a CAGR of 58.5%.

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Global Augmented Reality Software And Services Market Segments Include:

• By Type: By Software Function: Remote Collaboration, Workflow Optimization, Visualization, Documentation, 3D Modelling, Navigation, Other Software Functions
• By Vertical: Aerospace & Defense, Medical, Commercial, Oil & Gas, Mining, Telecom, IT/Data Centers, Enterprise, Consumer, Other Verticals
• By End-User Type: Commercial, Consumer
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global augmented reality software and services market in 2021.

Major Market Players in the augmented reality software and services market include Wikitude GmbH, Daqri, Zugara, Upskill, Aurasma, Augmate Corporation, PTC Inc., Catchoom Technologies.

The combination of AI (Artificial Intelligence) and AR has immense opportunities in augmented reality software and services going forward. AI is the development of the system that has the ability to perform tasks requiring human intelligence. AI enables capabilities like real-world object tagging, enabling an AR system to predict the appropriate interface for a person in a given virtual environment, and enhances AR to create a multidimensional and responsive virtual experience that can bring in new levels of insight and creativity. Filters in Instagram and Snapchat are some examples of AI and AR working together. Similarly, in 2020, NexTech AR solutions announced the launch of a new collaborative streaming solution with AI and AR enhancements that integrates virtual experience platforms and SaaS offerings. This trend will significantly contribute to the growth of the augmented reality software and services market.

The Augmented Reality Software And Services Global Market Report 2023 provides a augmented reality software and services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The augmented reality software and services market forecast analyzes augmented reality software and services market size, augmented reality software and services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Augmented reality software and services refers to software and services that integrate digital information with the user’s real-time environment. Augmented reality (AR) is a digitally augmented representation of the real physical environment created by using digital visual components, music, or other sensory stimulation given via technology.

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