Thanks to Pokemon GO, augmented reality (AR) market is estimated to have 2.3 bn apps by 2021, a whopping 380 percent increase from an estimated 482m in 2016, says a new report from Juniper Research.
The success of the VR game has inspired many an app developer to incorporate AR technologies into their applications, the study titled, “Augmented Reality: Developer & Vendor Strategies 2016-2021,” said.
Another reason for the market optimism is that AR content has evolved past its ‘gimmicky’ reputation, and consumer attitudes have become more positive towards the technology, Juniper Research said.
The report found that despite smartphones already being capable of this level of AR, the success of applications were down to desirable content, such as Pokémon GO and Snapchat.
“The current crop of AR offerings is a taste of its future. Soon, the technology will be commonplace in fields such as medicine, manufacturing and training,” said research author, Sam Barker.
Additionally, it found that AR opportunities will be further boosted by releases of other devices. HoloLens, manufactured by Microsoft, is expected to be launched in 2017, adding to competition for Vuzix and ODG.
Although, consumers will initially be discouraged by high costs and lack of content, the devices’ superior specifications will lead to improved content over smartphone applications, the research agency said.
The increasing confidence in AR technology as demonstrated by large investments into smaller AR specialists such as Magic Leap. The company has attracted over $1.3 billion of investment to continue the development of their hardware.
Shrouded in secrecy, Magic Leap has made no public announcement, however has convinced large companies such as Google and Qualcomm Ventures to invest.
Furthermore, Apple’s inclusion of 2 rear cameras its latest flagship iPhone, indicates their belief that AR content will further penetrate the smartphone ecosystem, Juniper Research said.
Source: Juniper Research
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