- By 2024, there will be around 1.73 billion Augmented Reality (AR) users on mobile.
- 70% of users believe AR can bring them profits.
- Revenue for Augmented Reality will hit $340 billion by 2028.
- The AR market is projected to be worth around $18 billion in 2023.
Augmented Reality is a technology that has been around for decades, but only recently has it made its way into the mainstream. Many individuals and organizations use it for various reasons, but it can be difficult to understand what all of those are.
To help you better understand Augmented Reality, here is a comprehensive guide on its use-cases and importance.
Importance Of Introducing AR In Businesses
There are numerous benefits of Augmented Reality that make it an attractive option for many businesses. However, lack of knowledge and not availing of the Augmented Reality development services from one of the best Augmented Reality development companies can leave you, like many others — unaware of the benefits. So here, first read out the importance of using AR in business to make.
1. Produces unique customer experiences
When used correctly, Augmented Reality (AR) can create unique customer experiences that are unlike anything else. This can be a major draw for consumers and help businesses to stand out from their competitors.
2. Increases sales conversions
There are many ways that Augmented Reality can be used for increasing the number of conversions, including by adding value to products or services and making them more attractive or personalizable. This can be done by showing customers how a product would look in their home.
3. Increases brand awareness and loyalty
Brand awareness is incredibly important for businesses, and Augmented Reality can help to increase it significantly. It can also help to create loyalty among customers by giving them a unique experience that they cannot get from other brands.
4. Revenue Generation
Image Source: GrowthX
AR helps businesses generate revenue by allowing the target audience to actually see how products work, look or perform before making their final purchase decision. This is especially helpful for eCommerce companies because it ensures that consumers are buying the right product and that they are satisfied with what they receive.
AR can also be used to increase the value of a sale by providing customers with additional content or discounts on products/services depending on how much they spend.
5. Examine internal business challenges
AR can be used to help businesses solve internal problems. This technology makes it easier for employees to learn and understand their role within a company, which will increase productivity rates.
AR is also a great way of training new hires if they have never been exposed to the tasks that need completing at your business before or are unfamiliar with specific equipment/software.
6. Competitive differentiation
Being able to differentiate a business from its competitors is incredibly important. Augmented Reality can be used for this purpose, as it provides businesses with the opportunity to create innovative marketing campaigns that are unlike anything else being done by their competition.
7. Going Viral
AR has the power to go viral, which is one of its best attributes. Businesses can use this technology to create attractive and interesting content that will be noticed by more people than if they were just using their own social media channels or website alone.
8. Bringing Businesses & Consumers Closer Together
With AR technology becoming more popular among consumers and growing in prevalence, businesses are now able to create unique experiences that bring them closer together with their customers. This can be done by offering customized services or showcasing exclusive content, among other things.
9. Grow your business
AR can be used to grow a brand both in an organic and paid capacity. This technology allows businesses to develop new products that will appeal to their target audience more, which they can then sell through various platforms, including social media or on their own website.
It also presents brands with the opportunity to look at customers’ behavior to help them better understand what they want and how to market themselves in a way that will attract more customers.
If seeing the benefits of using AR in business, you are also thinking about developing an AR-based app; hire Augmented Reality developers in India from one of the top Augmented Reality app development companies. This will help you out getting hassle-free app development process, and you will be able to get outstanding end-product.
12 Industry-wise Use Cases of Augmented Reality (AR)
Here I have stated the various industry-wise use cases of Augmented Reality.
Medical and Healthcare
AR can be used in various settings, including physician training, patient treatments, and hospital management. As of In 2018, the North American healthcare AR industry was valued at $477 million, and it is now predicted that by 2025 it will increase dramatically to $4.64 billion.
Image Source: Statista
- Medical Training: In the medical and healthcare industry, AR is used to provide training for surgeons, nurses, and other medical professionals. It is also used to show patients what surgery will look like or how it will be performed.
Additionally, AR can be used to help people who suffer from cerebral palsy and other disabilities get surgery.
2. Treatment: AR is also used in the treatment of various diseases and conditions. For example, there are now AR apps that can be used to help people with macular degeneration see again.
In 2019, the worldwide augmented shopping market size was evaluated at $1.24 billion and was foretold to expand at a CAGR of 47.1% from 2020 to 2027. (grand view research)
Image Source: grand view research
3. Visual Merchandising: In the eCommerce industry, AR is used to provide a better shopping experience. It can be used for visual merchandising purposes as well.
For example, adding virtual objects into stores or surrounding them with relevant information about products and services sold there will help customers gain a deeper understanding of what they are buying, increasing the possibilities that they will make a purchase.
4. Product Inspection: AR can also be used to help customers inspect products before making a purchase. This is done by adding virtual representations of the product to the real-world environment.
For example, if you are considering buying a new piece of furniture, you could use AR to see how it would look in your current home or bedroom.
By 2025, 15 million users of educational AR will represent a $700 million market. (centric digital)
Image Source: Centric Digital
5. Classroom: In the classroom, AR is used to help students learn in a more engaging and interactive way. For example, it can be used to show them what a certain animal or plant looks like in the real world.
This will help students understand theories and concepts better than they usually do using textbooks alone. Additionally, AR app can be used to bring historical figures or events to life.
6. Tutoring: In tutoring, AR can be used to help children or adults with learning disabilities. It is especially beneficial for those who have dyslexia as they will find it easier to read and comprehend what they are being taught if words appear in three-dimensional space rather than on the page alone.
By 2027, the worldwide market size for AR gaming is predicted to be at $33.5 billion, rising at a compound annual growth rate (CAGR) of 41.3% over the period 2020–2027. (Cision, 2020)
Image Source: industry arc
7. Gaming: In the gaming world, AR is used to create more immersive and realistic gaming experiences. For example, some games allow players to battle each other in physical locations using virtual objects. Moreover, AR can also be used to create interactive gaming environments.
8. Movies: In the movie industry, AR is often used for marketing purposes. The studios add virtual objects or characters into movie trailers to create a more engaging experience for potential audiences. Additionally, AR can be used to help make movies feel more realistic. This is done by adding virtual objects into the movie, such as dinosaurs or other animals.
For example, in Jurassic Park, virtual skeletons of extinct animals appear throughout several scenes to help build tension and add realism to the story.
Worldwide AR and VR in the travel & tourism market ecosystem was estimated at $74.6 million in 2018 and is anticipated to reach $304.4 million by 2023, growing at a CAGR of 32.5%.
Image Source: all the research
9. Tourism: AR can be used to help tourists explore new places without having to leave the comfort of their own homes. This is done by adding virtual representations of tourist destinations into the real-world environment.
For example, you could use AR to see what Machu Picchu looks like before booking a trip there.
10. Navigation: In addition to helping tourists explore new places, AR can also be used to help them navigate their current surroundings. For example, it can be used in maps and GPS devices to provide people with relevant information regarding the objects around them, such as traffic signs or parking spaces.
The implementation of Augmented Reality (AR) for inspection has decreased the inspection time by more than 90%. Such new developments will increase the growth of the overall AR in the manufacturing ecosystem. Moreover, it has been predicted that from 2018 to 2023, AR usage in the manufacturing industry will grow constantly.
Image Source: marketers media
11. Assembly: AR is used in the manufacturing industry to help with the assembly of products. For example, adding virtual instructions or diagrams into the real-world environment can help guide workers through the process of assembling a product correctly. This will ensure that there are fewer mistakes and the final product is of better quality.
12. Precision: AR can also be used to increase precision in manufacturing processes, allowing workers to work more quickly and efficiently with less room for error. This reduces costs as it means companies do not have to deal with substandard or faulty products which need to be re-made.
There are so many ways that AR can be used in businesses, and we’ve only scratched the surface. We hope you enjoyed these examples of augmented reality use cases for eCommerce, education, medical, healthcare, and other industries.
If your corporation is interested in incorporating this technology into its business strategy or would like more information on how it could work for your industry specifically, contact Augmented Reality app development company in India (ValueCoders)! Augmented Reality app developers working in this company create an innovative solution tailored to meet all of your unique needs.
Frequently Asked Questions
Which industries are expected to see the most growth in AR?
The three industries that are expected to see the most growth in AR are Retail, Gaming, and Automotive. However, it’s important to note that every industry has the potential to benefit from AR technology.
What is an example of a common use-case where businesses can integrate AR?
There are many different ways businesses can integrate AR, but one common use case is using it to create interactive product manuals. This allows customers or employees to view how a product works in real-time and can help them understand how to use it properly.
On what platforms can AR be used?
AR is typically utilized on mobile devices, but it’s also available through head-mounted displays (HMDs), smart glasses, and headsets.
How do businesses incorporate AR into their marketing strategies?
When it comes to incorporating AR into your marketing strategy, it’s important to think about what you want to achieve. Do you want to raise brand awareness or drive more website traffic? Once you have a goal in mind, you can start thinking about the best ways to achieve it. Some common methods include:
-Developing an AR app: This is probably the most immersive way for your customers to experience AR.
-Adding AR features to your website or social media channels: This is a more affordable option, and it can be a great way of increasing engagement with your brand.
-Creating marketing content that uses AR: This is a great way for businesses to stand out from the competition and can be very effective in driving traffic to your website or social media pages.
-Hosting an AR event: This is a great way to get people excited about your brand and can be used to generate leads or gather customer feedback.