London, UK -- (SBWIRE) -- 10/12/2022 -- The latest thematic study by GlobalData Plc titled Augmented Reality in Construction highlights the rise in the deployment of augmented reality in the construction industry is driven by the popularity of building information modeling (BIM). The construction industry has large and complex sites to manage, strict project deadlines, hazardous working conditions, and tight profit margins.

View Report Outlook: https://www.globaldata.com/store/report/ar-in-construction-theme-analysis/

Furthermore, the construction sector is witnessing immense pressure to improve its environmental, social, and governance (ESG) credentials and digitalize. This has created a demand for augmented reality solutions to be implemented in the current construction sector. AR can allow multiple stakeholders to be consulted using in-situ augmented walkthroughs. The technology can increase the accuracy of projects. It also supports the collaborative design and progress monitoring and improves user perception of models, ensuring any errors will surface early.

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Augmented Reality in Construction Industry Highlights

- The augmented reality market size was estimated at USD 8.6 billion in 2021. This thematic study predicts the AR market to garner an accelerating growth momentum at a CAGR of 38% from 2021 to 2030.
- The report classifies the augmented reality market in the construction sector by end-user (Enterprise and Consumer) and platforms (AR software and AR hardware).
- As per report estimates, the enterprise AR end-user segment will account for 65% of the global AR revenue.
- In terms of platforms, AR software will continue to dominate the market as novel, immersive content and use cases are developed for smartphones, AR smart glasses, and AR headsets.
- AR has been aiding to tackle various challenges faced by the stakeholders in construction industry including safety, project delivery, sourcing, cost control, collaboration, digitalization, and others.
- Various construction companies are now engaging in strategic tie-ups with the technology giants to deploy AR and create immersive purchasing experiences for the consumers. For instance, Nox Innovations and Apollo Mechanical use Unity's VisualLive to drive down costs.
- Similarly, XYZ Reality, a specialist AR vendor in construction, is the company behind HoloSite, an AR platform compatible with the Autodesk ecosystem and the Atom AR headset. Visometry will use its manufacturing expertise to address construction challenges.

For additional AR market in the construction sector highlights, Visit Sample PDF at: https://www.globaldata.com/store/talk-to-us/?report=3169650

Augmented Reality Market Players in Construction Industry

M&A activity in the AR market is intensifying, with access to technology being the principal rationale for most deals. Providers of 3D visualization, collaboration solutions, and hardware makers are prime acquisition targets as the industry pursues more engaging and immersive experiences. While most acquirers targeted AR software providers over the past two years, big players like Snap, Google, Meta, and Apple have also bought hardware vendors to develop new devices. This will intensify the competition.

Leading augmented reality adopters in construction
- AECOM
- Bechtel
- Doosan
- Hyundai Engineering & Construction
- Laing O'Rourke
- Larsen & Toubro
- Royal BAM
- Saipem
- VINCI

Leading augmented reality vendors
- Alibaba
- Alphabet
- Amazon
- Apple
- Autodesk
- ByteDance
- Magic Leap
- Meta
- Microsoft
- Niantic
- Qualcomm
- Samsung Electronics
- Snap
- Tencent
- Unity
- Vuzix

Specialist augmented reality vendors in construction
- Argyle
- Augview
- Cyclops AR
- Dalux
- Darf Design
- Fologram
- Fusion VR
- Hexagon
- Kiber
- Scope AR
- Spectar
- Syslor
- Topcon
- Trimble
- XYZ Reality

Get Detailed Vendor-specific AR offerings for the construction sector at: https://www.globaldata.com/store/talk-to-us/?report=3169650

Related Reports:

https://www.globaldata.com/store/report/virtual-and-augmented-reality-in-aerospace-and-defense-thematic-research/

https://www.globaldata.com/store/report/telcos-and-virtual-and-augmented-reality-vrar-opportunities-challenges-and-winning-strategies/

https://www.globaldata.com/store/report/augmented-reality-thematic-research/

https://www.globaldata.com/store/report/ar-in-travel-and-tourism-theme-analysis/

https://www.globaldata.com/store/report/augmented-reality-ar-and-virtual-reality-vr-in-consumer-goods-thematic-research/

About GlobalData
GlobalData is a leading provider of data, analytics, and insights on the world's largest industries. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our mission is to help our clientele ranging from professionals within corporations, financial institutions, professional services, and government agencies to decode the future and profit from faster, more informed decisions. Continuously enriching 50+ terabytes of unique data and leveraging the collective expertise of over 2,000 in-house industry analysts, data scientists, and journalists, as well as a global community of industry professionals, we aim to provide decision-makers with timely, actionable insights.

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