Skip to main content

Commercial Augmented Reality Apps will Reach $2.4B

Augmented Reality (AR) is defined as a technology that identifies and tracks data from the physical world, in combination with data drawn from digital sources, to present the user with a view of the physical world overlaid with relevant computer-generated information.

Or, put another way, AR applications tend to be limited by the developers own imagination. Creative designers will find new ways to apply this unique capability.

According to the latest market study by Juniper Research, augmented reality technology used in the enterprise and industrial markets will drive annual software application revenues of $2.4 billion in 2019, that's up from $247 million in 2014. This translates to a tenfold increase over the forecast period.

Juniper notes that enterprise interest in AR has reached new heights, due to improvements in software, wearable technology and the promise of significant efficiency gains. However, the varied individual needs of enterprises dictate that AR app costs will likely remain high, at least for the foreseeable future.

Despite a high revenue forecast for the sector, Juniper observed that the overall adoption of enterprise AR applications will remain relatively low until the end of the decade.

At present, the enterprise AR application ecosystem has not fostered any standards for software development across devices, giving rise to a level of risk with regards to security and integration.

"Most enterprise AR apps must be bespoke in order to comply with requirements," said Steffen Sorrell, senior analyst at Juniper Research. "That presents challenges -- entry costs are increased so a return on investment must be assured."


Commercial App Market Development

Additionally, the research study found that enterprise head-mounted devices (HMDs) -- such as Vuzix’s M100 and Daqri’s Smart Helmet -- will overtake smartphones and media tablets as the preferred AR device in terms of commercial app use beyond 2019.

The hands-free nature of these devices ensures that users will be able to maximise the benefits of AR technology. Nevertheless, display shortcomings must be corrected -- presently, wide field-of-views and low latency is lacking in most devices.

Other key findings from the study include:
  • The consumer HMD space will be ignited by at-home entertainment devices, such as Microsoft’s HoloLens.
  • Telecommunications operators will seize the opportunity of in-vehicle AR, with this market set to expand from 2019 onwards.

Popular posts from this blog

Digital Talent Demand Exceeds Supply in Asia-Pac

Even the savviest CEO's desire for a digital transformation advantage has to face the global market reality -- there simply isn't enough skilled and experienced talent available to meet demand. According to the latest market study by IDC, around 60-80 percent of Asia-Pacific (AP) organizations find it "difficult" or "extremely difficult" to fill many IT roles -- including cybersecurity, software development, and data insight professionals. Major consequences of the skills shortage are increased workload on remaining digital business and IT employees, increased security risks, and loss of "hard-to-replace" critical transformation knowledge. Digital Business Talent Market Development Although big tech companies' layoffs are making headlines, they are not representative of the overall global marketplace. Ongoing difficulty to fill key practitioner vacancies is still among the top issues faced by leaders across industries. "Skills are difficul

Mobile Device Market Still Awaiting Recovery

The mobile devices market has experienced three years of unpredictable demand. The global pandemic, geopolitical pressures, supply chain issues, and macroeconomic headwinds have hindered the sector's consistent growth potential. This extremely challenging environment has dramatically affected both demand and supply chains. It has led to subsequent inflationary pressures, leading to a worsening global cost of living crisis suppressing growth and confidence in the sector. In tandem, mobile device industry stakeholders have become more cautious triggering market uncertainties. Mobile Device Market Development Operating under such a backdrop, the development of mobile device ecosystems and vendor landscapes have been impacted severely. Many of these market pressures persisted throughout 2022 and now into 2023, borne chiefly by the smartphone market. According to the latest worldwide market study by ABI Research, worldwide smartphone shipments in 2022 declined 9.6 percent Year-over-Year

Global Digital Business and IT Consulting Outlook

Across the globe, CEOs and their leadership teams continue to seek information and guidance about planned Digital Transformation initiatives and the most effective enterprise organization change management practices. Worldwide IT and Business Services revenue will grow from $1.13 trillion in 2022 to $1.2 trillion in 2023 -- that's a 5.7 percent year-over-year growth, according to the latest market study by International Data Corporation (IDC). The mid-term to long-term outlook for the market has also increased -- the five-year CAGR is forecast at 5.2 percent, compared to the previous 4.9 percent. Digital Sevices & Consulting Market Development IDC has raised the growth projection despite a weak economic outlook, because of vendor performances across 2022, growth indicators from adjacent markets, increased government funding, and inflation impacts. The actual 2022 market growth was 6.7 percent (in constant currency), which was 87 basis points higher than forecast last year, alth