Introduction to Augmented Reality
The world of technology is continually evolving, and one of the crucial exciting developments in recent times is the emergence of augmented reality (AR) devices. Despite the failure of Google Glass to grow to be a mainstream consumer gadget, upcoming AR devices like Microsoft’s HoloLens are forecast to grow to be a $120 billion business by 2020. This is 4 times greater than the $30 billion business virtual reality (VR) will generate in the identical five-year span.
What is Augmented Reality?
Augmented reality technology combines virtual objects with the actual world through high-tech glasses. This technology is driving the sector into the mainstream, with corporations like Magic Leap and Meta leading the best way. Tim Merel, managing director of Digi-Capital, believes that AR has the potential to play the identical role in our lives as smartphones, with a whole lot of hundreds of thousands of users.
The Difference Between AR and VR
While virtual reality is like wearing a console in your face, augmented reality is like wearing a transparent cell phone. AR is great fun for games, but possibly not as much fun as VR when true immersion is required. However, this possible weakness for gamers is precisely why AR has the potential to grow to be a mainstream technology. AR might be worn anywhere, doing anything, making it a more practical and versatile technology than VR.
The Future of AR and VR
The excellent news for investors is that each the AR and VR markets will grow to be mainstream by 2020. AR has a bigger addressable market, just like today’s smartphone and tablet market, with a whole lot of hundreds of thousands of users and price points just like smartphones and tablets. This could drive large hardware revenues for device makers and open up an identical software and services economy to today’s mobile market. On the opposite hand, VR’s addressable market is primarily core games and 3D movies, plus area of interest enterprise users.
The Impact of AR on Other Industries
A big AR user base can be a significant revenue source for TV and film, enterprise, promoting, and consumer apps. Amazon and Alibaba would have a further platform for selling in recent ways to a mass audience. Together with progressive applications no person has considered yet, AR’s scale could prove a bonanza for mobile networks’ voice and data businesses. AR could disrupt the mobile market, and Microsoft’s HoloLens might be the beginning of regaining the glory lost to Apple within the last decade.
Conclusion
In conclusion, augmented reality is a rapidly emerging technology that has the potential to grow to be a mainstream phenomenon. With its ability to mix virtual objects with the actual world, AR has a big selection of applications, from gaming to enterprise. While VR has its own strengths and weaknesses, AR’s larger addressable market and flexibility make it a more exciting technology for investors and consumers alike. As the AR market continues to grow and evolve, it’s going to be interesting to see the way it disrupts other industries and creates recent opportunities for innovation and revenue growth.
