Augmented reality (AR) company Lumus, who last year entered a partnership with Quanta to create consumer AR optics, have released a detailed infographic that reveals the current trends within the AR sector.
As technology continues to become more accessible with new solutions offering more affordable solutions for consumers and content creators, the adoption rate of AR has raised greatly in the last year alone. Now, Lumus have released an inforgraphic which explores an umber of different areas within the sector to showcase just how far the industry has come and what the future might hold.
With the title message that “AR is not just for gaming anymore” the infographic lists some of the biggest industries for AR by potential 2025 revenue. Though videogames sits at the top with an impressive $11.6 billion (USD) this is followed by health care and engineering with $5.1 billion and $4.7 billion respectively. Most interesting from the potential revenue side of things is that military and education sit at the bottom end of the scale with $1.4 billion and $7 million respectively.
“The big players in consumer tech are making huge bets and putting serious capital and human resources into their AR product roadmaps. This IS a race. No one wants to be last but no one also wants to deliver a product that is less than “Wow, how do I ever live without this?” either. No one wants to be the Newton, and EVERYONE wants to be the iPhone” Ari Grobman, CEO, Lumus.
The second section of the infographic explores where AR technology is going within a number of different sectors. The real estate and home improvement sector, which is expected to have a potential revenue of $2.6 billion (USD) in 2025, is using the technology to help consumers visualize what products might look like in their home. In 2016 it is reported that 51% of consumers put off home improvements because they couldn’t imagine what the finished product would look like. With apps like the IKEA Place app, consumers can see if a product is right for them before even ordering it.
In the medical sector, which is expected to have a revenue of $5.1 billion by 2025, is seeing AR solutions being used to aid in detection and treatment of many conditions. It is reported that 24% of technology insiders expect to see the most advancements for AR technology within the healthcare sector. Solutions like AccuVein allow for projects of veins allow for nurses and doctors to more easily find them on their first try. This is in response to the 40% miss rate on first attempts of IVS.
The full infographic can be viewed on Lumus’ website and offers interesting insights into the potential future of the AR industry. With more people adopting to the technology the only way for the industry to go is up from here on out.
For more on immersive technology in the future keep reading VRFocus.