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April 16, 2019
As blogged on InterestingEngineering.com, Augmented Reality (AR), also known as spatial computing, is rapidly growing and expanding into countless business and industrial applications.
Spatial computing is used as a broad term to describe the way humans interact with computers in the same surrounding. In other words, in spatial computing machines occupy the same space as humans rather than being contained to one single location.
An Augmented Reality system, therefore, makes digital media feel physically present through interactive design and gesture.
According to Markets and Markets, the Augmented Reality market is expected to reach $60,55 billion worldwide by 2023, growing at a CAGR of 40.29 percent during the forecast period comprised between 2018 and 2023. Increasing interest and investments from top technology giants are directly linked to driving the growth of the AR market.
Overall, the AR software market will lead the growth by 2023 thanks to the increasing use of smartphones, tablets, and other devices in consumer, commercial, and enterprise used for the implementation of the AR technology.
While there is an increasing demand for AR in healthcare, retail, and e-commerce, there is plenty of emerging opportunity and increasing demand for AR in architecture and the enterprise industry.
Major companies involved in AR investment and acquisition include Google, Apple, Intel, Samsung, and Facebook.
The AR technology allows humans and machines to interact and collaborate creating a final work that, in turn, is also going to change the vision of how businesses make their presentations.
Virtual Reality and Augmented Reality are not just for gaming anymore. They are a game changer tool showing off their capabilities in almost every industry sector.
Virtual, Augment and Mixed Reality technologies have been moving pretty fast in the last few years from their most commonly known gaming and entertainment space into successful business use cases, including smart city planning.
In the construction industry, for instance, immersive technology can help in the development of smart cities with Augmented Reality becoming an integral part of the construction process.
Cities collect huge amounts and data. Augmented Reality can make that data visible. Using AR, architects can find a more creative and straightforward way to show urban planners how their projects are going to look like in real life by creating an engaging visualization, triggering faster decision making.
It can be building a new transportation center or the next skyscraper in a city; in all cases using Augmented Reality makes the job easier.
Keep reading this blog on InterestingEngineering.com
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