Generative AI In Augmented Reality Market 2024 - By Industry Demand, Sales, Growth Rate, Key Application, Future Trends And Outlook By 2033
Global generative ai in augmented reality market size is expected to $8.78 Bn by 2028 at a rate of 36.1%, segmented as by component, software, services
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Overview and Scope
Generative AI in augmented reality (AR) refers to the use of artificial intelligence algorithms to create or generate content, such as images, videos, or 3D models, within an AR environment. This technology enables the dynamic and interactive creation of virtual elements that can enhance the user's real-world experience in AR applications.
Sizing and Forecast
The generative AI in augmented reality market size has grown exponentially in recent years. It will grow from $1.88 billion in 2023 to $2.56 billion in 2024 at a compound annual growth rate (CAGR) of 35.8%. The growth in the historic period can be attributed to improved user experience through personalized content and interactions, enhanced visualization and simulation capabilities for design and engineering, increased productivity and efficiency in content creation and design processes, real-time data integration and analysis for better decision-making, improved accessibility and inclusivity through AI-generated language translation and captioning.
The generative AI in augmented reality market size is expected to see exponential growth in the next few years. It will grow to $8.78 billion in 2028 at a compound annual growth rate (CAGR) of 36.1%. The growth in the forecast period can be attributed to enhanced collaboration and communication through AR-enabled virtual meetings and presentations, increased immersion and engagement in AR experiences through AI-generated sound and music, improved accuracy and speed in object recognition and tracking, enhanced security and privacy through AI-generated encryption and authentication, increased scalability and cost-effectiveness in content production and distribution. Major trends in the forecast period include growing adoption of generative adversarial networks (GANs), rise of transformer models, hybrid approaches that combine generative AI with other technologies, speech synchronization and eye gazing and focus on user engagement and personalization.
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Segmentation & Regional Insights
The generative ai in augmented reality market covered in this report is segmented –
1) By Component: Software, Services
2) By Application: Gaming And Entertainment, Enterprise, Education
3) By End-User: Enterprise, Consumer
North America was the largest region in the generative AI in augmented reality market in 2023. The regions covered in the generative AI in augmented reality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of remote work is expected to propel the growth of the generative AI augmented reality market going forward. Remote work, also known as telecommuting or telework, refers to a work arrangement in which employees do not need to commute to a physical office or workplace. The increasing prevalence of remote work has become a significant factor driving the adoption and development of augmented industrial reality (AIR) solutions.Generative augmented reality (GAR) can be highly beneficial in remote work scenarios, particularly in industries that rely on physical operations and require collaboration between on-site and remote teams. For instance, according to Forbes Media LLC, a US-based media company, as of 2023, 12.7% of full-time employees in the United States work from home, while 28.2% work a hybrid model. By 2025, an estimated 32.6 million Americans are expected to work remotely, which equates to about 22% of the workforce. Therefore, the increasing prevalence of remote work is driving the growth of the generative AI augmented reality market.
Key Industry Players
Major companies operating in the generative AI in augmented reality market report are Apple Inc.; Alphabet Inc.; Samsung Electronics Co. Ltd.; Microsoft Corporation; Meta Platforms Inc.; Qualcomm Technologies Inc.; NVIDIA Corporation; Snap Inc.; PTC Inc.; Epic Games Inc.; Magic Leap Inc.; Niantic Inc.; WayRay AG; DAQRI; RE'FLEKT GmbH; Ubimax GmbH; Seabery; Vuzix Corporation; Scope AR; Upskill; Blippar; Atheer Inc.; Wikitude GmbH; ViewAR; 8th Wall
The generative ai in augmented reality market report table of contents includes:
1. Executive Summary
2. Generative AI In Augmented Reality Market Characteristics
3. Generative AI In Augmented Reality Market Trends And Strategies
4. Generative AI In Augmented Reality Market - Macro Economic Scenario
5. Global Generative AI In Augmented Reality Market Size and Growth
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32. Global Generative AI In Augmented Reality Market Competitive Benchmarking
33. Global Generative AI In Augmented Reality Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Generative AI In Augmented Reality Market
35. Generative AI In Augmented Reality Market Future Outlook and Potential Analysis
36. Appendix
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