The growth of Augmented Reality (AR) usage has been significant in recent years, and it is expected to continue to grow in the future. According to a report by MarketsandMarkets, the global AR market size is expected to grow from $10.7 billion in 2019 to $72.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 46.6% during the forecast period.
There are several factors contributing to the growth of AR usage. One of the main drivers is the increasing availability of AR-enabled devices, such as smartphones and tablets, which have become more powerful and affordable over time. This has made it easier for businesses to develop and deploy AR applications and for consumers to access them.
Another factor is the growing demand for immersive and interactive experiences among consumers. AR can provide a more engaging and interactive experience that allows consumers to interact with products and services in new and exciting ways. This can lead to increased brand loyalty, customer retention, and sales.
The adoption of AR is also being driven by advancements in technology, such as machine learning and computer vision, which are making it easier to create and deploy AR applications. This has opened up new possibilities for businesses in industries such as healthcare, education, and manufacturing to use AR to improve their operations and enhance the customer experience.
Finally, the COVID-19 pandemic has also accelerated the adoption of AR as businesses have had to find new ways to engage with customers remotely. AR has been used to create virtual try-on experiences for fashion and beauty products, virtual tours for real estate, and virtual product demonstrations for industrial equipment.
Here are ways that businesses can use AR to increase their sales.
The growth of Augmented Reality (AR) usage has been significant in recent years, and it is expected to continue to grow in the future. According to a report by MarketsandMarkets, the global AR market size is expected to grow from $10.7 billion in 2019 to $72.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 46.6% during the forecast period.
There are several factors contributing to the growth of AR usage. One of the main drivers is the increasing availability of AR-enabled devices, such as smartphones and tablets, which have become more powerful and affordable over time. This has made it easier for businesses to develop and deploy AR applications and for consumers to access them.
Another factor is the growing demand for immersive and interactive experiences among consumers. AR can provide a more engaging and interactive experience that allows consumers to interact with products and services in new and exciting ways. This can lead to increased brand loyalty, customer retention, and sales.
The adoption of AR is also being driven by advancements in technology, such as machine learning and computer vision, which are making it easier to create and deploy AR applications. This has opened up new possibilities for businesses in industries such as healthcare, education, and manufacturing to use AR to improve their operations and enhance the customer experience.
Finally, the COVID-19 pandemic has also accelerated the adoption of AR as businesses have had to find new ways to engage with customers remotely. AR has been used to create virtual try-on experiences for fashion and beauty products, virtual tours for real estate, and virtual product demonstrations for industrial equipment.
Here are ways that businesses can use AR to increase their sales.