Augmented reality is revolutionizing both the present and the future and is one of the most interesting immersive technologies in the digital space. Everyone is keenly looking towards the future of augmented reality as they see more and more companies investing highly in augmented reality.

Though many thought the applications of this immersive technology could not be seen for another five or ten years, AR has become mainstream sooner than expected and is close to mass adoption. Before we leap into the statistics of the future of augmented reality technology, let’s see what augmented reality is.

What is Augmented Reality?

Augmented reality is an immersive technology that overlays digital information onto the actual physical world. The camera can detect a target image and figure out how close and at what angle the target image is from the camera using a set of sensors. It then projects digital information onto that target image and viola, - an AR experience is created, which is the basics of augmented reality.

Augmented Reality Today

In the earlier days of augmented reality, its applications were limited to just the gaming sector. But since its introduction to the commercial space and various other industries, augmented reality applications have drastically widened. Today, augmented reality finds its application in manufacturing, automotive, telecom, education, healthcare, utilities, shopping and retail, media, and more.

Today, augmented reality can be easily accessed and experienced through smartphones, tablets, and AR wearables. Camera, sensors, GPS, accelerometers, and hardware is all you need to experience AR. This makes AR easy to experience as everyone has a smartphone with them today. Also, this allows businesses to reach their customers with more engaging content than the usual boring stuff.

What is the Future of Augmented Reality?

Augmented reality makes all our lives hassle-free. Also, it has applications in almost all sectors. AR brings some positive changes and has a huge role in driving growth and revenue, whether education, healthcare, entertainment, manufacturing, or oil and gas sectors. According to Grand View Research, the global AR market is predicted to grow at a CAGR of 43.8% and is expected to reach USD 340.16 Billion by 2028.

With the current state of developments happening with AR technology, and a vast number of people becoming proficient in AR technology, we can see some boundless, immersive experiences in the future. If you are interested in knowing more about deploying AR into your business, please contact us at support@xrmeet.io.