Generative AI In Augmented Reality Market 2024 - By Size, Competitive Landscape, Upcoming Trends And Outlook By 2033
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
................................
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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