Augmented reality and virtual reality are both buzzwords today. They represent two sides of the same coin that seeks to integrate digital data into the user’s physical environment, thereby allowing them to enter a hitherto inaccessible world. Such technology has been made popular by-products as the Pokémon GO.
Currently, there are over 82 million virtual reality (VR) devices around the world. Augmented reality (AR) is what is expected to drive the industry in the near future. The AR capacity is being incorporated into smartphone devices and will quickly raise this number to about 3 billion worldwide. The biggest players in this industry are jostling for space in an endeavor to outdo each other in leveraging this great technology. Here are some stats that show what is happening in the industry.
Most Android smartphones already have AR capabilities
According to projections by Annette Zimmerman and Roberta Cozza for the 2018 Mobile World Congress in Barcelona, augmented reality was expected to steal the show from the 5G technology. The highly competitive smartphone market would experience a diversification as manufacturers gravitate towards mobile AR as the differentiating factor in competition. Features such as face recognition enhanced camera performance overall seamless authentication across several platforms were things to watch out for in the Congress.
Because of security concerns and the desire for convenience by customers, smartphone producers were forced to get back to the drawing board in designing smartphones with AR abilities. Cozza and Zimmerman, therefore, predicted that Android smartphones would incorporate AR into their designs by the end of 2018.
A combined AR/VR market to hit $215 billion by 2021
The mixed AR/VR market is expected to grow and surpass the $215 billion by the year 2021. This is due to the fact that tech giants are working round the clock to implement this technology into their products. With Google launching its ARCore program, Apple working on ARKit, Snap Lens Studio and Facebook Camera Effects, the market is definitely on the upward trend16.
AR expected to grow to 1 billion users by 2020
At the moment, 543 startup businesses in the augmented reality have been registered. Similarly, consumers are extremely anxious to test the AR on the devices that are being offered on the market. Consequently, new players are expected to jump into the fray and grab a share. AR users are therefore expected to grow to about 1 billion by the year 2020.
Wrapping Up
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