Augmented Reality has touched the lives of millions! Augmented Reality in business is soaring by impacting consumers as well as retailers. Companies are quick to realize the potential of augmented reality and are willing to invest in the Augmented Reality technology. Big companies like Facebook, Apple, Google are competing to bring the best and innovative AR project to market.
Statistics say, “According to Global data, worth nearly $4 billion in 2018, the Global AR market is expected to reach $76 billion by 2030, growing at a compound annual growth rate by 24%”. MarketsandMarkets says, “the market of AR technology now is worth $15.3 billion”.
Recently, we heard the news of the Facebook AR Wristband- this wristband enables you to do things just by thinking. This means in the coming days you will not be using brains just to control your actions but also to control computers. You can read about the Facebook AR wristband, here. An amazing implementation of Augmented Reality in business by Facebook for sure! Let us dive deep into it-
Industries leveraging the benefit of Augmented Reality in business are:
Augmented Reality in business
There are ample industries that are quick to foresee the immense potential of Augmented Reality as per the Augmented Reality definition. Here is a list of different industries:
· Military and Defense:
Augmented Reality is used to create a real-like environment for military training. The U.S military heavily relies on Augmented Reality to empower the defence sector. Augmented Reality headsets ease the work of fighter planes by overlaying the map and necessary flight details in front of eyes. Click here to get a piece of detailed information.
· Food and catering industry:
Food and catering industry is implementing Augmented Reality in business in different verticals such as packaging, marketing, interacting etc. Restaurants use AR app to sell their prime dishes, some companies like coca-cola use it to engage with customers by AR filters, wine company like Jack Daniels use it to show their distillery process. Looking for more interesting examples? you can check it here.
· Footwear industry:
Technology primarily aims to simplify the living of the target audience. Augmented Reality in business here, is used to select the right colour as per outfit. You cannot bring your dress wardrobe to the footwear shop but can take the virtual footwear to your dress wardrobe!
· Oil and Gas industry:
Augmented Reality is used in the oil and gas industry for workforce training, safeguarding on-field workers, interactive training, easy maintenance and so on. The oil and gas industry relies on huge machinery, on the spot fix is necessary to prevent huge losses. Augmented Reality plays a crucial role here. To know more about the usage of AR in the oil and gas industry, click here.
· Healthcare industry:
Augmented and Virtual Reality is revolutionizing the healthcare industry. According to the first Hololens navigated surgery, doctors say it makes the process well-informed and easier. Medical students are better trained using Augmented Reality. Augmented Reality in business assists medical professionals in diagnosing diseases and surgeries. Healthcare is the most sensitive niche and technology aims to eliminate human error. Many times when symptoms are not clearly distinguished, Augmented Reality does the magic and saves a life. Companies like Echopixel, AccuVein, Brain power, etc. are leveraging the benefits of Augmented Reality in business. Know how?!
· Retail industry:
It is easier to meet customer expectation using Augmented Reality in the Retail industry. Virtual shopping is proliferating at its best today. The try-before-you-buy experience is raising the bar in digital shopping. Retailers are able to bring virtual trial-room at the comfort of customer’s couch. Research says, “an amazing 69% of consumers expect retailers to launch an AR app in the next 6 months”. As per predictions, “virtual fitting room project is expected to hit $ 10 billion by 2027”. The pandemic and inability to go to in-store shops have worked as the catalyst in the dependency on technology. AR in retail is vast, get a deep insight!
· Beauty and MakeUp Industry:
The beauty and MakeUp industry has realized the potential of Augmented Reality in business and is investing in the integration of AR technology in the AR business. mirrAR is the first platform to use Augmented Reality in the jewellery business. Augmented Reality is used for virtual try-on of product before purchasing. You can use it on an online store as well as a physical store. This not only helps in satisfying purchase but also plays a crucial role in marketing the product.
Google AR makeup will help you to select the perfect shade as per your skin tone. Know how?
· Education sector:
Learning has never been easier than today. AR technology focuses on concept-based learning and eliminates the necessity to cram syllabus. A plethora of Augmented education apps are built to bring remarkable changes to the education sector. Use these AR educational apps to learn.
· Travel and Tourism Industry:
Augmented reality in business makes tourism much more interactive and fun-filled. You can easily decode the foreign language in your mother tongue, travellers use AR to virtually explore the destination in advance and know about the minute details. You just need to point your camera at the new creatures and AR will help you to get the detailed information. You will not miss the hidden beauty of the place the way Rachel did here.
· Gaming industry:
It all started with the game Pokémon Go! Augmented Reality in its entry year was known for gaming. Pokémon Go worked as the breakthrough of AR technology in the commercial world. Augmented Reality is heavily used to enhance the experience of gamers. The technology is not limited to the gaming industry anymore. Here are intriguing Augmented Reality games.
· Sports industry:
Augmented Reality was used in IPL 2020 to give a real-like feel to virtual viewers. It plays a valuable role in the marketing and real-time training of players. In case of any confusion in matches, DRS gives a decision based on Augmented analysis. In Fantasy sports, AR is used to build a virtual team where each virtual players of the team represent one of the real players. You can get an in-depth insight here.
AR technology is soaring and will keep making fresh records in the upcoming years. A lot is yet to unfold and explore! Are you excited?