According to Statista,
the AR/VR market is predicted to reach USD 192.7 billion by 2022. This number was just USD 6.1 billion in 2016.
The market size of AR is expected to reach USD 1848.9 million in 2025 with a CAGR of 28.6%.
AR or Augmented Reality has been working backstage for a long; however, it came into limelight with the arrival of Pokemon Go. Launched in 2016, the Pokemon game was one of the most widely hyped phenomena that have helped the technology to gain popularity even among the non-techies. Before coming to the business opportunity this technology offers, let’s read a bit about what augmented reality is.
Augmented Reality is an interactive experience of a real-world environment where objects, such as sounds, images, texts, that are there in the real world are superimposed with computer-generated input.
How Is Augmented Reality Used in Business?
Augmented Reality uses computer vision-based algorithms to recognize and augment various objects. However, that’s not the only use of this technology. The technology is also helping businesses to drive sales, increase user engagement, and get the utmost level of customer satisfaction.
Due to these benefits, businesses all over the world are keen to integrate AR into their operations and processes. Moreover, it has also become a preferred choice for startups looking out for the technologies that can bring them immense success.
Why Is Augmented Reality a Good Choice?
Augmented Reality provides you with a convenient way to identify objects, allowing users to get the best from your business application. Smart home appliances or gadgets can be identified, and one can get detailed information about these electronic devices with just one tap.
What Are the Business Opportunities With Augmented Reality?
Let’s learn how AR can benefit businesses like marketing, military, manufacturing, healthcare, social media, gaming, retail, entertainment, real estate, fashion, travel, and education.
- Social media
- Real Estate
Augmented Reality in Education
Augmented Reality has the potential to transform the education sector by helping teachers and students to deal with various challenges. Through a three-dimensional view, teachers can make students understand various concepts without any difficulty. The bigger picture of a concept can help students to see the working of it. It not only makes learning easier but also increases the zest of the students.
Augmented Reality helps in providing a visual representation of the problem, which further helps in grasping and remembering the concept for long. AR can also fix other problems like offering practical knowledge to understand what’s written in the books. The technology can also assist teachers to evaluate each student’s performance based on their knowledge rather than the ability to cram. Read More
Augmented Reality in Manufacturing
With the help of AR-based applications, manufacturing and supply chain industries can reap a plethora of benefits. The professionals at the company can maintain manufacturing processes efficiently and effortlessly. Labeling the objects/equipment virtually through augmented reality can make them easy to locate, when required. Besides this, AR can also aid to deliver great customer experiences. Read More
Augmented Reality in Military
Augmented Reality can help soldiers and military professionals to prepare for the wars, learn how to diffuse bombs and other explosive materials, how to use various weapons, without risking their lives.
Augmented Reality in Healthcare
Augmented Reality also plays a pivotal role in the field of healthcare. The technology enables healthcare professionals to do automatic diagnoses to augmented surgeries. Moreover, it also helps them in training and practice by making the sessions more systematic. With AR, medical students can be trained better by facing real-life situations virtually.
Augmented Reality in Social Media
With the help of attractive and catchy filters, Augmented Reality can improve socialization. People all over the world are actually getting addicted to this technology for using beautiful and funny filters for videos and photos. AR stories, 360-degree videos, AR-focused ads, and AR games are another way the technology is making its strong place in this industry.
Augmented Reality in Marketing
When used properly, Augmented Reality can help in generating effective marketing strategies for loyalty and commitment to the products and brands. For instance, customers can capture a photo of the product placed in a physical store to check if there is a discount on it or not. Moreover, AR can also help to check out how a particular product, such as a table or bed, will look when placed in a living area or bedroom.
Augmented Reality in Gaming
With the advent of Pokemon Go and various other Augmented Reality-enabled games, the technology has already proved its significance in the gaming sector. The technology can help this industry with many interactive and engaging activities.
Augmented Reality in Retail
Augmented Reality-powered virtual try-on apps are helping brands to deliver an unparalleled experience to their customers. On one hand, the technology benefits the customer to see how a particular product will look on them (before even making a purchase), and on the other hand, AR helps in reducing return rates and increasing customer satisfaction.
Augmented Reality applications can be also used to provide information related to a product in a store. For example, customers can know the availability of sizes, colors, price, and other details about a product without spending hours to find the same. Read More
Augmented Reality in Entertainment
The entertainment industry is also getting huge benefits from augmented reality. The technology can enhance user experiences by providing AR-powered earbudsand other equipment. Using AR, directors can also add unrealistic things in the movies that are either too difficult to do or not possible at all. AR can also help media professionals to augment the effectiveness of videos, multimedia, games, and more.
Augmented Reality in Real Estate
Augmented Reality can help real estate professionals to improve their sales and user engagement by listing attractive information of the property and providing a three-dimensional view of the space. Curate and Ikea Place are already making huge benefits from this technology.
Augmented Reality in Travel
AR technology also plays a significant role in the travel and tourism industry. With AR, users can interact with the 3D models and use interactive maps to access different information in real-time. Moreover, they can also find a location, place, hotel, or restaurant with their 360 representation. The technology helps in delivering better user experience, which in turn makes travelers get the best of their money.
So, if you want to develop an AR-enabled application or software, reach out to a custom mobile app development company today. Make sure you choose the one that gives you quality at a cost-effective price.
Businesses worldwide are gradually adopting augmented reality to increase customer retention rates, drive sales, increase user engagement, deliver an unmatched experience, and ultimately grow their business. With the feature of providing a 3-dimensional view to the customers, the technology has also become an effective tool for marketing. So, if you, too, want to integrate AR into your existing business applications or want to develop a new AR-powered software/app, then choose a suitable AR app development company. Since there are many AR development services providers, it is advised to choose wisely