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Augmented Reality Software and Services Global Market Report 2022

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New York, March 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Augmented Reality Software and Services Global Market Report 2022” – https://www.reportlinker.com/p06246492/?utm_source=GNW
, Mozilla, Google, Pixar, Facebook, Amazon, IKEA, BMW, Pristine Inc., Infinity Augmented Reality, Jbknowledge, Inc., Magic Leap, Inc., Mortar Studios and Viewar GmbH.

The global augmented reality software and services market is expected to grow from $7.12 billion in 2021 to $11.45 billion in 2022 at a compound annual growth rate (CAGR) of 60.8%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $71.17 billion in 2026 at a CAGR of 57.9%.

The augmented reality (AR) software and services market consists of sales of augmented reality software and services by entities that provide augmented reality software to consumers. Augmented reality is the integration of digital information with the user’s real time environment.

The main software function of augmented reality software and services are remote collaboration, workflow optimization, visualization, documentation, 3d modelling and navigation.Workflow optimization is the process of improving an existing workflow by lowering operating costs, increasing work efficiency, adding new functions to an existing workflow, reducing the time required to complete the task at hand, and other factors to ensure the workflow runs as efficiently as possible.

The augmented reality software and services are used in verticals such as aerospace and defense, medical, commercial, oil and gas, mining, telecom, IT/data centers, enterprise and consumer by commercial and consumer end users.

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The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Augmented reality (AR) is increasingly used in various fields such as amusements, retail, entertainment, and medicine.In medicine, the practice of using AR software for surgery, and diagnosis has increased in recent years as it improves precision during operations, reduces medical errors, and gives doctors and patients a better understanding of complex medical problems.

For instance, the surgeons and doctors at the Imperial College and St.Mary’s Hospital in London, have started practicing this method by using Microsoft’s HoloLens AR glasses during reconstructive surgery on patients who have suffered severe injuries.

Earlier, handheld scanners were used to locate major blood vessels near the wound, making the surgery difficult. Increase in use of AR in various fields drives the augmented reality software and services market.

Privacy and security concerns pose significant challenges to the augmented reality (AR) software and services industry.Lack of specific regulation that defining the limitations of augmented reality environment poses serious threat to privacy in the AR environment.

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AR portals depend on web browsers that can expose the data used by AR software and services and can be attacked by third party easily.Privacy and security of personal information are very crucial and can have very serious implications if not protected.

For example, a hacker can manipulate a navigation system to show the driver a false computer-generated speed limit signage or a wrong road route.A person’s geolocation or field of view can be compromised and broadcasted to anyone causing danger to the user.

This threat limits the growth of augmented reality (AR) software and services market.

The combination of AI (Artificial Intelligence) and AR has immense opportunities in augmented reality software and services going forward.AI is the development of the system that has the ability to perform tasks requiring human intelligence.

AI enables capabilities like real-world object tagging, enabling an AR system to predict the appropriate interface for a person in a given virtual environment, and enhances AR to create a multidimensional and responsive virtual experience that can bring in new levels of insight and creativity.Filters in Instagram and Snapchat are some examples of AI and AR working together.

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Similarly, in 2020, NexTech AR solutions announced the launch of a new collaborative streaming solution with AI and AR enhancements that integrates virtual experience platforms and SaaS offerings. This trend will significantly contribute to the growth of the augmented reality software and services market.

In September 2021, Qualcomm, a US-based multinational corporation semiconductor provider acquired Wikitude GmbH for an undisclosed amount.This acquisition is to meet certain technology needs, to obtain development resources or expand opportunities for technologies, and to support the design and introduction of new products and services.

Wikitude GmbH is a US-based company leading mobile augmented reality technology provider.

The countries covered in the augmented reality (AR) software and services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06246492/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Artificial Intelligence

VeriPark and FICO Announce Strategic Partnership to Transform Financial Services

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ISTANBUL, June 26, 2024 /PRNewswire/ — VeriPark and FICO have launched a partnership to revolutionize the financial services sector through AI-driven decision making and digital transformation.

 
The collaboration between VeriPark, a global provider of innovative digital solutions, and FICO, a renowned analytics software company, will enhance decision-making and promote financial inclusion across Turkey, the Middle East, Africa, Asia and CIS regions.
Combining FICO’s decision automation, optimization and omnichannel communications capabilities with VeriPark’s customer engagement, omni-channel delivery, branch automation and loan origination solutions, the partnership aims to improve customer experience and accelerate digital transformation.
“We are excited to bring FICO’s cutting-edge technology to our region. This collaboration will enhance customer experiences and operational efficiency across the financial services sector. Integrating FICO’s technology with our solutions represents a significant leap forward, ensuring we stay ahead in a rapidly changing environment. We look forward to showcasing our joint success stories soon,” said Ozkan Erener, CEO of VeriPark.
“The combination of FICO and VeriPark’s strengths brings a unique blend of innovation to the market. Our goal is to help build a better society by bringing more people into the banking system, and our partnership with VeriPark is a critical step towards achieving that. FICO has been working with AI since 1992, and we are eager to introduce this long-standing expertise to businesses in this region through our collaboration with VeriPark.” said Alexandre Graff, Vice President of Global Partners & Alliances, FICO.
About VeriPark (https://www.veripark.com)VeriPark is a global solutions provider enabling financial institutions to become digital leaders with its Intelligent Customer Experience suite. With offices located in United Kingdom, Europe, the United States & Canada, Asia, Africa and the Middle East, VeriPark is helping businesses to enhance their customer acquisition, retention and cross-sell capabilities by providing proven, secure and scalable Customer Relationship Management, Omni-Channel Delivery, Branch Automation, and Loan Origination solutions.
About FICO (https://www.fico.com/)FICO powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries.
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Altair Names Devoteam Channel Partner for the EMEA Region

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Devoteam to offer Altair’s leading data analytics and AI solutions throughout the EMEA region
TROY, Mich., June 26, 2024 /PRNewswire/ — Altair (Nasdaq: ALTR), a global leader in computational intelligence, is thrilled to welcome Devoteam as a new channel partner for the EMEA region. Within the partnership, Devoteam will offer Altair’s leading data analytics and artificial intelligence (AI) solutions to its customers throughout the EMEA region.

“Partnering with Devoteam underscores our dedication to shaping the future of technology,” said Kimon Afsaridis, managing director of Eastern Europe and vice president of indirect EMEA sales, Altair. “This partnership marks a pivotal moment in our global expansion strategy, reinforcing our mission to lead and innovate in AI and beyond.”
“Together, Devoteam and Altair will help industrial companies harness the power of data to improve their efficiency, productivity, and competitiveness,” said Pablo Martin, industry and retail business unit director, Devoteam. “This collaboration is an important step in our commitment to help companies, particularly in the industrial sector, better their digital transformation efforts.”
Devoteam boasts more than 25 years of passion for tech and more than 11,000 tech-native specialists in offices in 25 countries. The company believes that technology combined with strong human values can drive change for the better, and specializes in managing large-scale projects while remaining agile enough to deliver customized solutions.
Altair works with a global network of channel and technology partners. To learn more or to become a partner, visit https://altair.com/altair-partners.
About Altair
Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit https://www.altair.com.
Media contacts
Altair Corporate
 Altair Investor Relations
Bridget Hagan
 Stephen Palmtag
+1.216.769.2658
+1.669.328.9111
[email protected]
 [email protected]
Altair Europe/The Middle East/Africa 
Charlotte Hartmann
+49 7031 6208 0
[email protected]
 
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Artificial Intelligence

IBM Study: Fan Engagement and Consumption of Sports Shifting, Reveals New Opportunities for Technology Integrations including AI

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International sports fans surveyed are optimistic about the impact of technologies like AI on their digital sports experiences.Real-time updates and personalized content rank as top priorities for fans when it comes to how generative AI can enhance following and engaging with sports events.Younger sports fans overwhelmingly embrace AI-powered experiences and digital platforms for sports content consumption and engagement.ARMONK, N.Y., June 26, 2024 /PRNewswire/ — As sports fans worldwide tune in to a myriad of athletic events this summer, new research commissioned by IBM (NYSE: IBM) reveals a growing generational shift and acceptance of technology-driven experiences that will impact the future of sports consumption.

The international study*, conducted by Morning Consult, gathers insights from more than 18,000 sports fans across 10 countries to better understand both how they follow and engage with sports, including live coverage, highlights, and summaries, as well as preferences for future engagement and consumption. The findings confirm that fans are prioritizing more personalized and time-saving digital sports content, with the majority recognizing the positive impact technologies like artificial intelligence (AI) will have on these experiences.
The data also confirms that younger sports fans are more likely to favor AI-enhanced features as they increasingly turn to digital platforms for sports content. Surveyed fans aged 18-29 are using a mobile phone or tablet as their primary device to watch sporting events more often than older fans, with subscription streaming of live sporting events being most popular among the younger age group. More than half (58%) of 18-29 year old respondents also believe AI will have a positive impact on sports.
Alternatively, respondents from older age groups remain loyal to traditional methods of consumption, with linear broadcasting being most popular among fans 45+. Forty percent of surveyed fans over the age of 55 believe AI will have a positive impact on sports.
“Fans worldwide are continuing to embrace platforms and solutions that allow them to feel more connected and informed on their favorite sporting events and athletes, and IBM’s new study confirms this now includes embracing technologies like AI to deliver these experiences,” said Noah Syken, Vice President, Sports and Entertainment Partnerships. “IBM’s longstanding portfolio of Sports and Entertainment partnerships aims to deliver on these expectations from fans by putting in the hands of our partners the most advanced IBM technologies from our AI and data platform watsonx.”
Other key study findings include:
Fans are optimistic about the impact of technology on sports, paving the way for generative AI powered experiences
63% of respondents point to data analytics as having the most positive impact on sports, while 50% of respondents think AI will have a positive impact.When it comes to how generative AI can improve engagement, surveyed sports fans identify real-time updates (34%) and personalized content (29%) as the top priorities.India, UAE and Saudi Arabia rank the highest in countries where fans are prioritizing real-time updates and personalized content powered by generative AI.Fans now prioritize personalized, bite-sized content when it comes to their consumption of sport content
More than half (56%) of respondents turn to social media for additional sports content; 46% are getting additional content from broadcast/video news while 35% are turning to news articles.64% of those fans engaging in additional sports content are viewing highlight videos of best moments; 48% are consuming post-match recaps and analysis.Among those engaging in additional sports content, respondents rank summarized content (33%) as their top priority followed by personalized content (26%).Sports fans are watching event summaries more often, with 41% of respondents indicating they watch summaries or highlights weekly; 24% report daily engagement.Younger fans may be reshaping how consumers experience sports content, as they engage with content via multiple screens and are more likely to favor AI-powered enhancements
Younger fans (18-29) are most likely to view sports highlights through social media over other platforms.When it comes to consuming sports content, fans aged between 18-29 are more likely to rank personalized content as their top priority.Fans aged 18-29 are more likely to rate AI improvements as high priority, with real-time updates (40%) and personalized content (36%) topping the list of priorities.While real-time updates (26%) and personalized content (19%) also top the list of AI improvement priorities among older fans (55+), these respondents are much less likely to consider AI improvements a high priority.Younger fans are also more likely to be using multiple devices while engaging with sporting events than older fans (55+). 10% of younger fans surveyed use three or more devices while watching sports compared to only 2% of older fans.While TV is the most common method for viewing sports, fans are increasingly using multiple devices to follow sporting events
64% of surveyed fans say linear or streaming TV is their top choice for watching sports.31% of respondents say they are most likely to watch a live sporting event on linear broadcast; 28% say they use a subscription streaming service and 23% use a free streaming serviceSubscription streaming of live sporting events is most popular among younger fans aged between 18-29.Mobile devices are a noteworthy alternative for watching sports, with 20% of consumers reporting it is the top way they watch sporting events and 38% saying it is their second most likely options.28% of surveyed sports fans use at least two devices while watching sporting events; 24% report they use at least two devices while listening to sportsFans between 18-44 are more likely to be using three or more devices.Respondents rank multi-tasking as the top reason for using multiple devices when consuming sports, followed by finding more game information while watching or listening to the sport.To view the full study, visit: https://newsroom.ibm.com/image/IBM+Global+Sports+Attitudes+and+Behaviors+Report+June+2024.pdf
*Study MethodologyThis survey was conducted in May 2024 among a total sample of 18,082 sports fans 18+ in the US, Canada, the UK, France, Germany, Italy, Spain, India, the UAE, and Saudi Arabia. The interviews for each country were conducted online, and the data is unweighted, with ~2,000 responses per market in the US, Canada, the UK, France, Germany, Italy, Spain, and India and ~1,000 responses per market in the UAE and Saudi Arabia.
To qualify for this survey respondents must be at least an average sports fan and follow one or more of the following sports: Soccer, Cricket, Tennis, Basketball, Baseball, Rugby, Golf, American football, F1 racing, Track and field, Swimming, and the Olympics.
About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.
Media Contacts:
Sarah BenchaitaIBM Corporate [email protected]
Marisa ConwayIBM Corporate [email protected]
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