The global AR VR Software market size is projected to grow from USD 32.5 billion in 2023 to USD 77.5 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.0%. Due to its potential to revolutionize traditional processes, businesses are increasingly turning to AR VR technology for training, design, and collaboration. AR VR allows companies to create immersive and interactive training modules, reducing the time and resources needed for employee onboarding and skill development. These technologies enable real-time 3D visualization in design and prototyping, enhancing product development and reducing costly errors. Additionally, AR VR facilitates remote collaboration by providing virtual meeting spaces and shared immersive environments, saving on travel expenses and fostering efficient teamwork. Ultimately, these innovative solutions drive productivity improvements and cost reductions, making AR VR adoption attractive for forward-thinking businesses.
Key and innovative vendors in the AR VR Software market include Microsoft (US), Google (US), Unity Technologies (US), Adobe (US), Autodesk (US), Meta (US), PTC (US), TeamViewer (Germany), NVIDIA Corporation (US), Advanced Micro Devices (US), Qualcomm (US), Zoho Corporation (India), Hexagon AB (Sweden), Magic Leap (US), VMware (US), Blippar (UK), Augment (France), ShapesXR (US), ARuVR (UK), Scope AR (US), Vectary (US), Eon Reality (US), Wevr (US), Talespin Reality Labs (US), Squint (US), Niantic (US), Marxent Labs (US), Inglobe Technologies (Italy), Ultraleap (US), Amelia (US). The market players have adopted various strategies, such as developing advanced products, partnerships, contracts, expansions, and acquisitions to strengthen their AR VR Software market position. The organic and inorganic strategies have helped the market players expand globally by providing advanced AR VR Software solutions.
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Microsoft is US-based multinational technology company. Microsoft operates in three key segments: Productivity and Business Processes, Intelligent Cloud, and Computing. The Productivity and Business Processes segment includes Office Suite, comprising of Word, Excel, PowerPoint, and Outlook, as well as cloud-based solutions such as Office 365 and Microsoft 365, essential for business communication and collaboration. In the smart cloud segment, Microsoft’s Azure platform offers a wide range of cloud services from laaS to SaaS, the first choice for companies looking for cloud-based application hosting, data management, and deployment solutions. The PC segment includes consumer products such as Windows, Surface devices, Xbox game consoles, and Bing search. Microsoft also owns LinkedIn and provides enterprise software such as Windows Server and SQL Server while actively integrating artificial intelligence into its products and services. Microsoft has a strong geographic presence in North America, Europe, Middle East & Africa, Asia Pacific, and Latin America.
Unity Technologies is a software company specializing in the Unity game engine, a platform that creates interactive 2D, 3D, AR, and VR experiences on devices. Although Unity primarily focuses on game development, it offers important tools such as real-time rendering, physics simulations, and asset management. They also manage the Unity Asset Store, a marketplace where developers exchange 3D models, scripts, and more. Unity provides cloud services for multiplayer gaming, analytics, and monetization, serving gaming and other sectors such as architectural rendering and medical simulations. Unity is known for its educational resources, active developer community, and flexible licensing models that contribute to its prominent position in interactive content creation. Unity Technologies has a significant geographic presence in North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
AR VR Software Market by Technology Type (AR Software and VR Software), Software Type (Software Development Kit, Game Engine), Vertical (Media & Entertainment, Retail & eCommerce, Manufacturing, Healthcare) and Region - Global Forecast to 2028
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