Technology is taking better shape day by day, and developers should be up-to-date themselves with the new trends. Most importantly Augmented reality is the current hero in the tech trend. The role of augmented reality is becoming apparent in different industries like traveling, gaming, marketing, entertainment, media and education, etc. This high demand owes to the enormous potential benefits of Augmented Reality, making revolutionary innovations in various industries.
- The AR market is projected to be worth over $18 billion in 2023
- By 2022, there should be around 3.5 billion AR users.
- The AR/VR headsets will reach 65.9 million units by 2022.
- Microsoft is to supply 120,000 HoloLens headsets to the US Army.
- AR is shifting more to industrial use.
- By 2024, the number of mobile AR users will reach 1.73 billion.
- AR use will experience growth in the educational sector.
- 63% of online shoppers claim AR will improve their shopping experience.
- AR/VR in the healthcare market is estimated to reach $7.05 billion.
- AR is gradually gaining influence in the automobile industry.
- The total number of VR and AR users in the US will reach 85 million by Q4 of 2021.
- Handheld devices will have a Compound Annual Growth Rate of 45% between 2021 and 2028.
- AngelList currently lists 2,332 augmented reality startups.
- Leap Motion released a prototype of the AR headset that could cost around $100 to mass-produce.
- 70% of Americans aren’t sure what AR is.
- There are 208 different meanings for the acronym AR.
- Nearly half of Americans are using augmented reality without realizing it.
- In 2016, Pokémon Go started the augmented reality hype.
- Nearly half of all Apple ARKit app downloads are games.
- Facebook acquired 11 AR/VR companies.
- 32% of respondents stated user experience as the biggest hindrance to VR and AR adoption.
- 70% of consumers believe AR can help them learn new personal and professional skills.
- In 2021, there are 0.81 billion augmented reality users.
- Augmented reality users fall into the 16-34 age group.
- How much is augmented reality worth? $3.5 billion, says Statista.
- The UK holds a 9% share of the immersive reality global market.
- Revenue for AR will reach $340.16 by 2028.
- Consumer hardware accounts for 15.6% of AR/VR spending.
- Augmented reality glasses sales will reach 22.8 million by 2022.
- 67% of media planners and buyers want AR/VR ads in digital marketing campaigns.
How does Augmented Reality impact business around the globe?
Augmented Reality brings a new path to communicating and sharing information and ultimately helps to address business needs better. AR is a mix of physical and virtual worlds with a real-world constituent. It increases the computer-generated apprehension data to give an immersive experience.
Information can be in any form like graphics, video, sound, etc. Because of AR’s excellent academic and marketing ability, it speeds up to several business operations. In addition, it will create new methods to learn new activities and promote products, help train professionals and lead to long-term cost cutting and enhanced ROI.