AR and Mixed Reality AR AND MIXED REALITY SOLUTIONS

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AR AND MIXED REALITY SOLUTIONS


Interest in augmented reality is exploding as innovators explore its business relevance and the roles it can play in workforce enablement and customer experience and interaction. This emerging technology holds tremendous promise for changing the way businesses operate.

AR is also projected to be an economic driver for the tech industry. Industry forecasters say the market worth for AR will reach $50 billion by 2024, according to MarketWatch. For instance, AR smart glasses are forecast to ship 21 million units in 2020, with a compound annual growth rate of 78% from 2015 to 2020. Total revenues for the AR market are projected to grow with an estimated CAGR of 73% during the same time period for both dedicated AR hardware sales and mobile as well as dedicated AR content and software revenues.

But which vertical markets will embrace this new technology? Industry experts such as Eric Abbruzzese, research analyst at ABI Research, say revenues will be split between a number of major verticals – education, gaming, healthcare, industrial and retail, to name a few.