Introduction
Future 1.6 billion users might generate $80 billion for immersive technology.
Clearly, augmented reality is becoming more and more popular. By 2023, the market for virtual and augmented reality (VR and AR) technology is projected to grow from $13.4 billion to $142.4 billion.
But there’s more. Emerging trends, such as the growing convergence of wearable technology and augmented reality, are anticipated to increase demand (AR). By 2023, 1.4 billion individuals are expected to use augmented reality on their phones alone, according to Statista. The top five augmented reality trends to anticipate in 2023 are listed below:
- AR to be Worth $60 Billion By 2023
- 1.4 Billion Mobile AR Users Worldwide
- Retailers and Marketers Use AR to Gain New Customers
- AR Live Stream Shopping Will Take Off
- NFTs Will Not be Limited to Artwork and Face Filters
This increase is mostly a result of necessity: The impacts of the pandemic and the global shift to online shopping have led to the closure of thousands of shops. Brands that survived this challenging time sadly realized that remaining relevant requires ongoing innovation. Due to internet giants’ strong promotion of this technology, more businesses began to invest in augmented reality technology. As a result, there are more AR trends to keep a watchful eye on as the market develops.
What is Immersive Technology?
Immersive technologies combine the actual world with virtual or simulated reality to create different experiences. Virtual reality (VR) and augmented reality (AR) are the two main subcategories of immersive technologies. Many of the properties of these technologies are similar.
What does the term “immersive experience” mean?
A spectator can alter and interact with their environment by being sucked into another actual or imagined world during an immersive experience. A combination of sights, sound, and technology is used in immersive encounters to create enthralling and memorable worlds.
Read more: Are you familiar with the 54-year history of AR?
What is Augmented Reality (AR)?
Digital visual elements, audio, or other sensory cues transmitted through technology are used to create augmented reality (AR), which is a more enriched version of the real world. Businesses specifically engaged in personal computing and enterprise applications are noticing a growing trend in this direction.
Key advantages of augmented reality
Innovations in AR provide access to a big market. The business, marketing, education and training, travel and tourism, and other industries all benefit from AR developments. Managers will benefit from AR in a variety of ways. They can follow the advancement of their job and tasks related to it in real-time. Additionally, it gives them access to digital maps that let them see the entire building clearly. By just pointing at the device at a specific location, the final assembly may be examined. Medical students can safely perform their first surgery because to AR developments. Trends in AR open up new opportunities for teachers and training procedures of all kinds. You can show tourists the routes to selected locations using GPS mobile apps with AR. A layer of augmented reality at museums improves a user’s exposure to culture. Additionally, AR elevates marketers to a whole new level where they can draw in more clients and generate buzz, giving them the opportunity to offer their clients something that their rivals are unable to.
Additionally, there appears to be a sizable opportunity for creative firms to strengthen their combined strategic and innovative capabilities by utilising the newly discovered AR capabilities. Furthermore, AR is anticipated to grow in the supply chain sector by offering business users exceptional efficiency thanks to its ability to encourage spectacular visualisa+tion and three-dimensional 3d views for business operations.
- The metaverse and non-fungible tokens (NFTs) will be crucial to the development of augmented reality.
- Live stream shopping is currently sweeping the globe.
- 3D platforms will keep expanding.
- New pharmaceuticals and medical equipment will be found thanks to advancements in augmented reality, which will benefit the healthcare industry.
Written By: Future Frog