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Augmented Reality

augmented reality enterprise solution

In this post, we are going to take a closer look at augmented reality – a technology trend that is growing as AR devices are becoming more available. 

We’ll address the following questions:

  • What is augmented reality?
  • How is augmented reality used in business?
  • What are some of the best solutions for augmented reality?

So if you want to understand augmented reality better, and find out why this technology is emerging, this article is for you. 

Let’s begin.

What is augmented reality?

augmented reality in business

Augmented Reality uses information like analytics and data and transforms it into animations and images that are integrated with the real world. 

AR lets us experience a real-life environment that surrounds us with digital content and information overlaid on it by using a camera on a mobile phone or AR headset. 

Unlike virtual reality that creates its simulation, AR adds value to the real world as it is, and that is the main difference between virtual reality and AR. 

Augmented reality statistics

The AR market is one of the fastest-growing markets right now. AR is growing rapidly because it can be used in almost every industry (education, healthcare, travel, journalism, automotive, marketing, real estate, fashion). AR has an estimated market value of $50 billion by 2024.  

As more people are recognizing the potential of augmented reality, investment in AR is growing. Spending on AR and VR in 2020 on a global level is estimated to $18.8 billion.

AR has the potential to bring online shopping to the next level. When customers shop online, they can’t feel the product and see it in reality, and that’s why people are hesitant when they shop online. 40% of customers would pay more for a product if they could customize it in AR.  With AR, customers can make confident buying decisions

Augmented reality in business

AR technology in business can be very efficient, and that’s why AR is becoming a part of every company’s strategy. 

Augmented reality generates business value by becoming part of the product, and also by making performance across the value chain more successful. 

augmented reality

AR is used more than VR in business, but the mixed reality in business can be very beneficial. For example, The U.S. Department of Homeland Security is bringing together AR instructions with VR simulations to create emergency situations so they can train their people at a reduced cost. 

Here are some examples of how businesses are using AR in various industries:

Healthcare 

Although some people think the uses of AR and VR are mainly for the entertainment and gaming industry, this example shows that AR can improve any industry. 

AR could benefit both patients and health providers. It can help patients identify their symptoms. For example, EyeDecide is an app that allows the camera display to simulate a patient’s vision that is affected by a certain condition like cataracts. 

AR can assist surgeons during procedures, and help nurses find veins easier and faster. 

Fashion and Retail 

AR is transforming the way customers are making their purchasing decisions. Now, customers can interact with AR from the comfort of their own homes. 

Converse The Sampler app allows customers to virtually try on different shoe models, and pick their favorite model by only pointing a phone at their feet. 

One of the benefits of AR in the fashion industry is that with virtual dressing rooms, customers can experience the product, and be more confident in their buying decisions. 

Marketing

AR is a great way for companies to promote content to their target audience. AR campaigns give consumers a unique experience, thus taking advantage of AR in your marketing makes the product more interesting and desirable. 

Best solutions for augmented reality

uses of ar and vr

Here are some of the augmented reality solutions that show how much potential this technology has:

IKEA Place 

IKEA’s app allows customers to go through the furniture catalog, pick an item, and see how it fits in their home. The furniture is virtually shown in its true dimensions, and that eliminates the risk of purchasing something too big or too small for them. 

Sephora Virtual Artist

This mobile app uses facial recognition and allows customers to try on makeup virtually. By using this feature, customers can pick makeup that fits their skin tone without physically trying it on. 

Holoanatomy 

This technology is changing the learning methods among medical students by allowing them to see the human body in 3-D holograms. By using this technology, students can select individual organs and examine them in detail. This makes learning more practical and efficient. 

Augmented reality is only getting bigger, and possibilities of using this technology are endless as it could be used in any industry. If you’d like to find out more about innovative technology, please follow Demakis Technologies and continue reading about it on our blog.

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