The Future of Augmented Reality (Infographic)
When you think of augmented reality, Pokémon Go might be the first thing to come to mind. But AR isn't just for games. This innovative tech is making an impact on a number of industries.
According to recent research by Lumus Vision, while AR video games are expected to reach potential revenues of $11.6 billion by 2025, other industries are not far behind. By 2025, the AR and virtual reality space in the healthcare industry is predicted to reach $5.1 billion, engineering $4.7 billion, real estate $2.6 billion and retail $1.6 billion.
When it comes to real estate and home improvement, one of the biggest obstacles people face is not being able to visualize their new home. In 2016, 51 percent of consumers said they put off home improvements because they couldn't imagine what the finished product would look like. AR and VR are potential solutions. With VR, people can take a virtual tour through a potential home, and with AR they can place various furniture items in a room to get a glimpse of what it'd look like.
Retail is also an exciting industry when it comes to AR. For example, AR in retail can help people imagine various outfits on them before actually buying. Seventy-one percent of consumers say they would be more likely to shop at a store if AR were offered, and 61 percent would choose a store with AR experiences over a store without.