Augmented reality (AR) is a digitally enhanced depiction of a real-world physical space formed via the use of digital visual components, audio, or other sensory stimuli provided by technology. It is a growing trend among firms operating in a wide range of sectors.In the middle of the growth of data collection and analysis, one of the primary goals of augmented reality is to highlight particular features of the physical world, enhance understanding of those qualities, and extract smart and accessible information that can be utilized in real-world applications. Big data may help businesses make better decisions and get insight into their customers' purchasing behavior, among other things.
The Augmented Reality market size has been witnessing exponential growth in the past few years as it is being adopted more and more among businesses. The industry is now expected to increase at a Compound Annual Growth Rate (CAGR) of 48.6% from $6.12 billion in 2021 to $97.76 billion in 2028.
That said, this article will be tackling the top 5 use cases of augmented reality.
Augmented reality technology is altering the future of the electronics and home appliance industries. This advanced option is now enabling customers to see a product overlay wherever they aim their smart devices. They can preview how desired furniture and appliances will appear in their environment and instantly modify their types, colors, and sizes. This is great for picturing room layouts and color schemes before making a purchase that is as big as a new couch or refrigerator for instance. These products can also be viewed from every possible angle in an immersive 360-degree experience. This provides clients with a greater understanding of the value that a product offers.
Augmented reality is now allowing people to view how clothes and accessories would look on them without even wearing them. It enables shoppers to imitate a real-life buying experience from anywhere, at any time. This try-before-you-buy feature has gained popularity among major clothing brands such as H&M, Ralph Lauren, Burberry, and Gucci, and resulted in fascinating results. In fact, 58% of customers now prefer to experience AR shopping; thus, adopting it is increasing their profits by 47%, their average order value by 40%, and finally minimizing their return rates by 50%. They now know that this technology is effective to enhance their reputation and help them build stronger credibility and a bolder trust relationship.
While tablets have become commonplace in many schools and classrooms, augmented reality is now being utilized for a variety of purposes in all types of education. Teachers adopt augmented reality systems to integrate gamification into courses and develop instructional content. They are currently allowed to materialize abstract notions using AR technology to help learners perceive and grasp complicated topics. For instance, students studying astronomy may view a comprehensive map of the solar system, while those learning about history can experience digitized historical events through the use of Augmented Reality.
In recent years, technology has been undergoing a long way toward advancing the tourism industry, from review traveling sites such as TripAdvisor to informative websites like Lonely Planet. However, augmented reality gives a great opportunity for travel businesses and brokers to provide potential tourists with a more immersive experience before they arrive. Consider taking a virtual "Walkabout" Australia before booking a flight to Sydney, or a leisurely stroll through Paris to see what museums or cafes you might want to visit. For that, Augmented Reality promises to make it much easier to sell trips, travel, and vacations in the future.
AR technology can improve the experience of healthcare professionals by providing them with information while they are on the job. As the healthcare sector faced several issues posed by the pandemic in the past couple of years, Augmented Reality has emerged as a beneficial tool for making medical personnel’s duties easier and safer through interactions between humans and machines, which eliminates the need for physical proximity and contact. Now that hospitals and medical facilities have seen the benefits of AR, it may gain traction over the years. Not only did AR help in cutting off healthcare expenses, but it also opened up several opportunities to assist surgeons while practicing their job and provided patients with improved access to treatment.