14 Aug 2020
Updated on December 27th, 2022
Augmented Reality: Global Market Analysis And Different Use Cases
AR- Augmented Reality has turned out to be one of the most interesting technologies in the digital space. The commercial support AR received from the industry giants like Microsoft, Amazon, Apple, Facebook, and Google, has marked a difference.
However, AR is often overshadowed by virtual reality- VR, but still, AR has taken the lion’s share of the market.
As per the analysis, the Augmented Reality (AR) market size is anticipated to reach $80.8 billion by 2022.
Indeed, this has been an astoundingly rapid growth for a market that is still considered to be in the nascent stage. The growing scope of this technology has covered different industries, manufacturing, medical, retail, game, and automotive.
Due to its incredible functionality, AR has attracted large investments contributing to industry growth.
Global Augmented Reality (AR) Market
According to global augmented reality statistics, there will be about 1.96 billion mobile AR users by 2021 and 2.4 billion users by 2023.
It has been reported that the world’s major market is spreading its landscape to AR technology. AR made an entry in the world with highly famous Pokemon Go, that won the hearts and set a new benchmark in the technological field, and crafted an enhanced vision of augmented reality AR and digital enhancement of the surroundings.
Since then the global AR markets are poised to attain significant growth with the use of app technology and the inclusion of headsets or glasses just transformed the entire experience to something exceptional, that was never seen or used before.
This technology has spawned a large number of projects to come into existence and boosting different industries and businesses to reap the benefits after investing in AR technology.
AR- different use cases
AR is fun to watch, as it pushes the limits of how users perceive physical spaces and objects, and this has enabled this technology to become an indispensable part of users’ lives. It has let the digital images to be a part of the real world, which can be touched and felt as integrated into everyday life.
Let’s take a closer look at the different use-cases for AR with this post further…
As we all know AR came into existence with Pokemon Go and has illustrated a huge game market opportunity looming on our smartphones. It has been reported that the year 2022 would witness a huge investment in the gaming industry, and the credit would go to the AR technology.
When it comes to discussing the different use cases, then you cannot give a miss to the enterprises, that have also embraced AR technology. Today there has been a wider usage of AR headsets and glasses in manufacturing, logistics, remote service, retail, medical, and education. With the help of this technology, it becomes easy for enterprises to get real-time information and provide assistance without wasting any moment.
Further with the help of AR technology, it becomes a seamless journey for the companies to train technicians and get the work done in no time.
Well, healthcare has embraced technological advancements at the best, and there has been a constant evolution in this field. AR technology provides guidance to the surgeons and helps them to get the information in the operating room. In the education sector, the use of AR technology is the best way to offer immersive virtual training environments for medical students. They can learn every bit of surgery without involving in the real-world.
The utilization of AR glasses in the security clearance seems a little odd, but trust me, it is very much possible. The simple integration of IoT and AR together can turn information into a decision-making tool. Further, IoT utilizes the procedure and manage the workflow through data and analytics and generate alerts from that data to provide just in time information intuitively. This also helps the ICU units in a hospital to monitor patients while generating alerts.
The real estate and home décor are the two most benefitted sectors from AR technology. This very technology allows the users to get interactive walkthroughs in mixed or virtual reality environments, or check that expensive couch how it would look in their living room.
Travel & Tourism
The tourism and travel industry has faced the major brunt due to COVID-19 and has even discouraged travelers to quit their travel plans. But with the integration of Augmented Reality, travel agencies can give a quick and interactive look to the users, and show them how far secure and safety measures are taken for their safe and pleasant journey.
Yes, this is another beautiful integration of AR technology, wherein the self-directed vehicles are gaining more popularity. These cars are possible to run with the integration of augmented reality. In 2020, multiple car manufacturers are implying the idea of using top technology trends to automate their working mechanism.
Indeed, gaming is likely to grab the bigger chunk of the revenue when it comes to integrating AR technology, but other industries such as healthcare and enterprises among others would also gain benefits out of it.
To beat the blues of revenue slump caused due to the pandemic, you must let your business get the taste of AR technology and flourish during and after pandemic with flying colors.
Give us a call today and help your business to thrive.