Augmented reality (AR) is one of the hottest trends in the tech world these days, but it’s more than a buzzword; AR has the potential to offer billion of dollars in value to companies around the world. In fact, Digi-Capital’s latest Augmented/Virtual Reality Report predicts that the augmented reality and virtual reality market could be worth $108 billion by 2021, driven primarily by mobile AR. About $83 billion (76.9%) of this figure is slated to come from AR alone.
The home improvement sphere is benefiting greatly from the latest technological advancements, helping experts in the field perform their job with more accuracy and less hassle. Plus, homeowners and renters can play a bigger role when deciding how to improve their residences, as augmented reality (AR) in the home helps users visualize new possibilities for their living spaces.
Augmented reality (AR) is quickly growing and being adopted in ways that aid companies in improving the consumer experience, reducing overhead costs and increasing their ROI. The construction industry is the latest one to add the technology to its fold, as AR is helping solve many challenges that architectural firms and designers face in the building process. Instead of waiting until after a building’s layout is complete to make adjustments, architectural firms can use AR tools to fix any mechanical, electrical and plumbing (MEP) issues in the design phase.
In the retail world, companies that don’t keep up with the newest technologies and trends may end up losing a large chunk of their clientele. Like how ecommerce revolutionized the way consumers shop, augmented reality (AR) is a rising force in the retail industry, adding another layer of personalization to shopping.
Just a couple years ago, buying a custom-tailored shirt was a costly and time-consuming task. You’d have to find and then book an appointment with a tailor who could create or modify a garment to suit your unique body shape. Then, you’d need to visit the tailor for measurements and fittings before finally getting your new shirt. The process was so inconvenient that many would settle for ill-fitting garments rather than spending the time and money on a tailor. But now, there’s a high-tech alternative that’s making it fast, easy and affordable to acquire custom-tailored garments.
It’s widely believed that augmented reality apps are the apps of the future, and from a technological perspective, they’re achieving something quite remarkable. AR apps are blurring the lines between the real world and the virtual world. This could dramatically alter our relationship with technology, as we find ourselves transitioning from living with innovation to living amongst it. As such a game-changer, it’s no surprise that many companies are opting to invest in augmented reality apps and applications that utilize other emerging technologies.
After months of exploring your options, you’ve finally settled on using augmented reality (AR) technology for your new app. AR is just what you need to achieve your objectives with this application while simultaneously delivering a great user experience.
In mid-2016, Pokemon GO took the mobile world by storm as the first mainstream augmented reality app. But today, nearly a year and a half later, we’ve seen the arrival of hundreds of different mobile apps that feature augmented reality technology.
Of the App Store’s 2.2 million mobile apps, 20% are relatively new, released within the past year. Some have predicted that the App Store’s selection will top 5 million by the time 2020 arrives. And that’s just the iOS-compatible apps; there are also hundreds of thousands of Android apps that will soon be in development. A large portion of these apps will include some highly sophisticated technology, such as augmented reality (AR) and virtual reality (VR).
Pokemon GO was amongst the first mobile apps to bring augmented reality (AR) into the mainstream consciousness. Aside from compelling grown adults to run through random yards (and occasionally, traffic) in search of fanciful characters, the AR app grossed over $600 million in its first three months on the market. In fact, some are predicting that AR technology will become a $108-billion-dollar-per-year industry by 2021.