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Global augmented reality software development kit market generated a revenue of US$ 3.38 billion in 2021 and is estimated to reach a valuation of US$ 18.17 billion by 2030 at a CAGR of 8.93% during the forecast period, 2022–2030.
From a consumption perspective, the market is expected to expand at a consistent CAGR. Currently, the marketing, healthcare, education, and entertainment sectors all make extensive use of AR technologies. Internet goliaths from all around the world have been paying attention to AR as a potential future technology. AR software is widely used on a variety of platforms, such as websites, mobile apps, AR glasses, and mini programs. As a result, it is anticipated that AR software will have a higher market size than AR hardware soon.
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Key Dynamics of Augmented Reality Software Development Kit Market
Increasing Requirement to Enhance Decision Making Solutions Among Businesses
Organizations are already starting to use technology to their advantage to revolutionise the product life cycle, educate and train field technicians, increase customer happiness, and improve strategic decision-making. By gathering enormous amounts of data to produce clear, understandable 3D modules that are placed on the real world, augmented reality provides "hyper visualisations." The value of data visualisation in business decision-making, particularly for large and complicated datasets, cannot be overstated.
AR has established itself as a must for managers and supervisors in the augmented reality software development kit market. For instance, it enables them to quickly read real-time performance data. They'll identify precisely who isn't performing to their full potential, ascertain why, and put new tactics into place. AR can indicate the issues that employees are having and the areas where managers need to focus their efforts and adjust to get the desired results.
Increasing Adoption of AR-VR in Instruction and Guidance
Instruction, training, and coaching are important tasks that augmented reality is already reinventing. They are essential to raising worker productivity and, when carried out well, can free management from additional duties. However, they often cost a very high amount, require a lot of work, and yield little profit.
By allowing students to learn and professors to instruct in a more immersive, technological setting, augmented reality technology is introducing new methods of education. For instance, biology students can interact with plants, mammals, birds, insects, and amphibians through computer simulations, while medical school students can perform experimental procedures in virtual reality settings in the augmented reality software development kit market. However, not every university has equal access to these and other cutting-edge technologies. As a result of a lack of financial and networking resources to use new technologies, some students will be at a disadvantage during their preparation and while applying for jobs.
Users can interact with virtual items that appear in their actual surroundings using augmented reality (AR), also known as mixed reality (MR). The scenarios where users must engage with virtual items while also keeping situational awareness of their physical environment benefit the most from this. For example, students might use digital overlays to follow instructions for challenging tasks like learning how to fix a tricky machine or administering a procedure.
Issues of Security and Privacy Related to Augmented Reality and High Cost of Implementation
Security and privacy issues hinder the augmented reality software development kit market. These issues have emerged because of ineffective augmented reality programming, as well as the disregard and supervision displayed by both end users and creators of AR apps and devices. The ability to safeguard the user's identity and privacy is only present in a select few AR applications. The fundamental issue is that there are no rules outlining the proper ways to do business in an AR environment. This implies that the exploitation of users' personal information is a possibility when AR technology is employed for evil. Numerous AR systems also rely on shady third-party integrations or apps.
The system may cache data on a local computer or network server, like other collaboration programmes. These data may need to be safeguarded, which could entail encryption. The rest of the consumers’ network can be accessed by using the same systems as a launching pad. Additionally, a DDoS attack might have unanticipated outcomes in an AR system, so if a system is crucial for a business process or classroom, be ready with a business continuity and disaster recovery plan. Although it may be challenging to predict how compliance and legal standards will affect these new contexts, sensitive data still needs to be securely protected.
Growing Trend of Mobile AR and AR Glasses
A favourable environment for growth is being created over the predicted period by the ongoing improvements in augmented reality (AR) technology and the growing use of mobile phones in the augmented reality software development kit market. The ongoing efforts to provide consumers with a better and more immersive experience are another element fuelling industry expansion.
As a result of their capacity to smoothly combine the user's vision with the virtual environment, smart glasses are gaining pace and popularity. These glasses have a display, sensors, accelerometers, intelligent software, and internet connectivity that enhance the user's view with contextual information. Smart glasses with augmented reality capabilities are being employed in daily home and business settings. The growing head-mounted display industry is the main market driver for augmented reality glasses.
Deployment Mode Analysis:
By deployment, the augmented reality software development kit market is divided into cloud, on-premises, and web-based/SaaS. According to estimates, the cloud segment will hold 55.2% market share in the coming years. The ability of the AR cloud to organise and retain data from the physical world and communicate it in real time and visually through any device is crucial.
The augmented reality software development kit market is divided into three segments based on platform: Linux, Mac, and Windows. In 2021, the MAC segment accounted for majority of the market share with the highest CAGR of 21.33% over the forecast period of 2022-2030. For augmented reality application developers, MAC’s close-knit ecosystem, standardised hardware, and great performance of make it a top choice. The option to create an app using the native iOS framework opens the door to more sophisticated AR solutions.
Development guides in MAC, developed using considerable expertise creating AR-powered apps, will help individuals to fill in some of the knowledge gaps about the intricacies of projects. The most significant feature is that it is the only framework capable of utilising all the hardware capabilities of the iPhone and iPad for augmented reality experiences.
The augmented reality software development kit market is divided into Android and iOS categories based on mobile. In 2021, the iOS segment accounted for highest share of 61.1% in the market for Augmented Reality Software Development Kit worldwide. It works well for determining the whereabouts of people, what they're doing, and how their actions affect 3D models. Additionally, compared to ARCore, it renders wonderfully and measures distances more precisely.
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Enterprise Size Analysis
The augmented reality software development kit market is divided into large enterprise and SMEs based on enterprise size. In 2021, the large enterprise accounted for the largest market share of 62.7%. Large businesses are undergoing a major transition because to AR and VR, which is transforming how business is done today. Every industry is changing because of virtual, augmented, and mixed reality. Consider spatial computing as an innovative way to view and interact with data. Marketing-wise, mobile augmented reality has a lot of potential. using a mobile device to try on shoes, put on makeup, or take a selfie while looking at a watch or pair of sunglasses. Mobile AR has the greatest potential for e-commerce.
End User Analysis
The augmented reality software development kit market is divided into retail, automotive, manufacturing, healthcare, education, gaming & entertainment, aerospace & defence, and others based on end user. Healthcare segment is projected to grow at the highest CAGR of 21.70%. The use of AR and VR in the medical field has made important advancements in healthcare. Utilizing Head-Mounted Displays (HMD) technology, augmented reality serves the purpose of virtually recreating real-world representations of anatomical structures. However, virtual reality is a smart and useful diagnostic tool that assists in making precise diagnosis. Thus, as technology advances and healthcare costs rise, more and more of these cutting-edge devices are being used in the healthcare sector, which is helping the market develop.
Other significant factors supporting the market expansion are investments, developments, and collaborations for the use of this technology in the healthcare industry.
In terms of revenue, North America accounted for a significant share of 36.3% of the global augmented reality software development kit market in 2021. The demand for HMD in the gaming and entertainment sectors is anticipated to drive growth in the virtual reality market in North America. On the other hand, a dearth of top-notch user experience design can prove to be a significant market barrier.
In addition, expanding VR adoption in the military, aerospace, and planning industries may present a significant growth opportunity for the local market. On the other hand, emerging risks and difficulties with data integrity could endanger the virtual reality industry.
APAC is experiencing substantial changes in the adoption of new technologies and innovations as an emerging market with the highest CAGR of 21.68%. Because there are numerous display panel manufacturers in the region, new technologies are being adopted more frequently there. The augmented reality software development kit market in APAC is anticipated to expand quickly in sectors including healthcare, business, and consumer. The expansion of the AR and VR markets is also anticipated to be supported by the region's expanding business community. The main factor driving the AR and VR market in APAC is the swift rise of the commercial and consumer segments.
Key Industry Players
AWS, EON Reality, MAXST, Zudan, Vision Star Information Technology are some of the major players in the global augmented reality software development kit market.
In 2021, the top 5 players held around 50% share of the global market. Therefore, the market is expected to be oligopoly. However, market is likely to witness entry several new players at the loss of existing players’ market share.
However, the major manufacturers are taking possible steps to retain their supremacy in the augmented reality software development kit market by deploying growth strategies. In order to draw in more customers, major providers are concentrating on the creation of affordable and portable virtual and augmented reality. To enhance their offerings and market reach, players involved in the provision of virtual and augmented reality are also concentrating on inorganic growth strategies like strategic alliances and merger & acquisition activities with technology partners.
List of Key Companies Profiled:
Key Industry Developments:
By Enterprise Size
By End User
|Market Size Value in 2021||US$ 3.38 Billion|
|Expected Revenue in 2030||US$ 18.17 Billion|
|Unit||Value (USD Bn)|
|Segments covered||By Deployment, By Platform, By Mobile, By Enterprise Size, By End-User, By Region|
|Key Companies||Google, Apple, Inc., PTC, Inc., HP, Zappar Ltd., AWS, EON Reality, MAXST, Zudan, Vision Star Information Technology, Other Major Players|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
Global augmented reality software development kit market size worth US$ 3.38 Billion in 2021.
The global augmented reality software development kit market is studied from 2017-2030.
The global augmented reality software development kit market is projected to grow at a CAGR of 8.93% during the forecast period 2022-2030 and is expected to reach US$ 18.17 Billion.
Factor such as increasing usage of augmented reality software development kit are the growing need to enhance decision making among enterprises and increasing use of AR-VR in instruction and guidance.
The healthcare segment holds highest CAGR in the global augmented reality software development kit market during the forecast period.
Asia-Pacific region is growing with the highest CAGR during the forecast period.
Issues of security and privacy related to augmented reality and high cost of implementation is expected to restricts the global augmented reality software development kit market growth.
US holds the major share in term of revenue in the North America augmented reality software development kit market.
The growing adoption of immersive technologies among enterprises provides a lucrative growth opportunity in the global augmented reality software development kit market.
Deployment mode, platform, mobile, enterprise size, end user, and region are the different segments in the global augmented reality software development kit market.
Google, Apple, Inc., PTC, Inc., HP, Zappar Ltd., AWS, EON Reality, MAXST, Zudan, Vision Star Information Technology, among others.
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