Augmented Reality, or AR as it is popularly known among the technical experts has been around for more than three decades ever since the first augmented reality took place in the year – 1992 when Louis B. Rosenberg from USAF Armstrong Research Lab developed Virtual Fixtures that placed information atop physical objects.
Since then, the scope and capabilities of augmented reality has grown by leaps and bounds with smartphones that we use today that are capable of running graphics intensive augmented reality applications.
So, what is Augmented Reality, or AR? Simply put, AR is a technology that converts a real life environment around us into a digital interface and augmented with placing virtual objects in the real environment. AR uses the existing real life environment that uses the existing real life environment and overlays new information on top of it by creating a variety of experiences unlike virtual reality, which creates a very artificial environment. AR is now normally experienced through headsets that people wear and through displays on mobile devices. As of now, every industry across numerous sectors is betting on digital transformation through augmented reality in their arsenal of digital tools.
Studies and statistics related to augmented reality are conclude that AR is riding a high growth wave. The availability of cheap sensors and news creative uses in consumer applications are its primary growth drivers. The best example that can be put before is the Pokémon Go game that became a global rage among its players. That is Augmented Reality.
The largest business segment making huge investments in AR applications is by the Video Games industry followed by Healthcare and Engineering sectors. For the business world, Augmented Reality along with Virtual Reality (VR) applications, are offering new ways of interacting with their customers, possessing market potential unmatched by previous technology paradigm shifts. And we are only at the beginning. The AR/VR market that was $17.8 billion in 2018 is projected to grow by more than $21.5 billion by the end of 2021.
The recent developments in the technology such as Apple’s ARKit and Google’s ARCore have made the AR technology accessible using smartphones leading to the development of a wide variety of augmented reality apps. Augmented reality is changing the way businesses would be carried on by 2019 with an installed base of actively used augmented reality apps and is expected to grow to more than 2.2 billion apps. The augmented reality for businesses offers immense possibilities and as it matures, the user experiences will only be enhanced as well as the applications that utilize it.
