In recent years, Augmented Reality (AR) has evolved as an innovative technology in various remarkable industries. AR has already made a huge impact on our everyday lives. By 2020, the AR industry is predicted to hit global revenues of $90 billion. Gradually, augmented reality has been transforming the enterprise business. As per IDC, the AR market value of over $20B in 2019 will reach as high as $120B by 2022 (excluding consumer spending on AR). Similar projections have been made by Global Market Insights that identifies that the lion’s share of AR investment will be driven by industrial usage with industrial spending on AR more than double of any sector by 2024.
Industries Benefiting from Augmented Reality (AR)
Nowadays, almost every industry starting from healthcare to manufacturing is implementing the potential of AR to provide business solutions.
Below mentioned are some of the key industries that are benefiting from AR by reshaping their sales and marketing efforts, have a look:
In the automotive industry, AR is used for a variety of purposes. Several automakers are using AR to design cars before making the physical model. Many other automakers are experimenting with the technology as a way to improve the driving experience, through things like see-through displays. This technology can be used to visualize the body structure and general design of cars, and to exhibit information to drivers through their windscreens. This can be a major design aspect of driverless vehicles in the future, as driving information could be shown by means of augmented screens.
When looking at the sales side of the automotive industry, car dealers have started introducing AR in their showrooms due to its interactive customization features, ease of use, transparency, and competence.
2. Life Sciences and Medical Devices
Due to the advancement of AR technology, the healthcare industry is expected to experience a complete transformation. These days, a lot of life sciences businesses are considering using AR as an indispensable tool to communicate, edify and engage healthcare professionals and patients on innovations to get better outcomes. By combining virtual and physical worlds, several life sciences companies are using AR to bring new therapies to life.
Augment Reality helps to create rich, interactive experiences that demonstrate how new drugs and medical devices interact with the human body. AR also allows healthcare professionals to be more illustrative when explaining new treatments to patients. AR not only supporting greater communication between healthcare professionals and patients, but it is also being utilized by manufacturing, research and sales teams to better communicate the complexity of new treatments.
In the manufacturing industry, a single error in the development process may prove to be a costly and time-consuming affair. However, with the implementation of augmented reality in the manufacturing processes, it has become much easier to spot any manufacturing errors at the earliest. It streamlines the collaboration between the parties involved in the manufacturing process as the supervisor or concerned person can see the product in development in real-time by using an AR device and provide his valuable feedback and insights without causing any delays. This way AR helps in accelerating the speed of the development process along with the efficiency rate that ultimately improves the overall experience and profit generated.
Manufacturing industries are using augmented reality technology in training their factory workers. AR can be combined with digital twin technology in manufacturing settings to create virtual clones of a physical asset, thus providing a lively, digital model to demonstrate technicians how to service and repair machines on the factory floor. This leads to a more dynamic, safe and cost-effective maintenance training program. On the whole, augmented reality has a lot of potential to offer, especially in the field of manufacturing and product development.
4. Aerospace and Defense
Aerospace and defense are some of the most complex and impactful industries that build and service some of the most complex machines every day. Quality and high-efficiency are the key drivers to ensure success in these industries. With the introduction of AR technology in this field, the aerospace and defense companies are able to get things done more accurately and in a faster manner.
Whether it’s about complex assembly, quality control, parts management and kitting, traceability, process management, training and up-skilling, maintenance and repair, airline ground operations, baggage handling or any other complex thing, AR platform has made it much easier for these companies to work smarter and faster than ever to meet the growing demands of their missions and constituents. When combined with the insights from real-time IoT data, augmented reality allows technicians to leverage digital information, where and when they need it most. Furthermore, AR experiences play an important role in improving the productivity of the workforce and operational efficiency for manufacturing, service, and training processes on the warfighter and industrial systems.
5. Logistics and Transportation
In the logistics and transportation industry, augmented reality technology has the huge potential to boost productivity in warehousing and transport by optimizing processes across the complete supply chain. Implementation of augmented reality helps to carry out various tasks such as warehousing, transportation, and route-optimization easily and efficiently while saving upon some costs as well. In huge warehouses, companies are providing AR glasses to their workers to efficiently locate the products for shipping. The lenses of these AR glasses can display the shortest route to a product piled within the warehouse. Augmented reality is also helpful in enhancing the efficiency of drivers through route-optimization, thereby leading to on-time and efficient deliveries of various products.
Augmented reality can be used to provide on-the-spot training to the workers by taking the education out of the classroom and into the field where it can be applied to actual work situations. It helps workers to observe the accurate ways to perform a task as they do it themselves.
Undoubtedly, Augmented Reality has so much potential to transform the business world. The technology is augmenting the way brands interact with the customers and acting as the right tool to enhance customer engagement. No matter what type of business it is, augmented reality technology can help boost its sales and revenue through efficient customer service. Looking at the growing demand and implementation of AR in the business world, it would be correct to say that investing in Augmented Reality App Development is the need of the hour.