Augmented Reality (AR) technology has come a long way in recent years, and it’s no surprise that the industry is expected to experience significant growth in the near future. According to a recent market research report, the global AR market is projected to reach $198 billion by 2023, growing at a CAGR of 42.2% during the forecast period from 2018 to 2023. Check: AR Trends 2023
One of the key drivers of this growth is the increasing adoption of AR in various industries such as retail, healthcare, and gaming. Retail giants like Ikea and Sephora have already begun incorporating AR technology into their mobile apps, allowing customers to virtually try on products before making a purchase. In the healthcare industry, AR is being used to enhance surgical procedures and medical training. And in gaming, AR technology is being utilized to create immersive and interactive experiences.
But the growth of AR isn’t limited to just these industries. In the coming years, we can expect to see AR being integrated into a wide range of devices and applications, from smartphones and tablets to smart glasses and even contact lenses.
One of the most exciting developments in the AR space is the emergence of smart glasses. These devices are designed to be worn like regular eyeglasses, but they have the capability to project virtual images and information directly into the user’s field of view. Companies like Google, Microsoft, and Amazon have all invested heavily in the development of smart glasses, and we can expect to see more products entering the market in the near future.
Another exciting development is the integration of AR into contact lenses. Researchers are currently working on developing AR contact lenses that can project virtual images directly onto the user’s retina. This technology has the potential to revolutionize the way we interact with the digital world, making it more seamless and intuitive.
In addition to these developments, we can also expect to see a continued growth in the number of AR-enabled mobile apps and games. These apps and games allow users to experience augmented reality in a variety of ways, from interactive storytelling to location-based gaming.
Overall, the future of AR looks bright, with a wide range of devices and applications set to hit the market in the coming years. As the technology continues to evolve and improve, we can expect to see even more exciting and innovative use cases for AR in various industries.