7 statistics every app developer should know about augmented reality
Augmented reality statistics and predictions
The concept of augmented reality is not as new as you might think. As a matter of fact, back in 1901 Lyman Frank Baum first mentioned the idea of an electronic display that could overlay data onto real-life objects and named it a ‘character marker’. The maturity and history of augmented reality, however, is a topic that deserves a post of its own.
For now, let’s fast-forward 100+ years and better understand why Apple, Google, Facebook, Amazon, Microsoft, Adobe and other tech giants are fiercely investing in augmented reality as it is known today.
Starting with what the tech giant leaders and representatives are saying about AR:
• Apple CEO Tim Cook has been claiming to be AR’s biggest fan and called it “critically important” :
“I am so excited about AR. I think AR is one of these very few profound technologies that we will look back on one day and, ‘How did we live out without it?’ Simple things today that you can use it for, like if you’re shopping for a sofa or a chair or a lamp, in terms of experiencing it in your place… We’ve never been able to do that before until the last couple of years or so. And that’s at the early innings of AR, it will only get better”.
• Meta’s CEO Mark Zuckerberg betted the company’s future on a metaverse that will have augmented reality as its essential part:
“I believe that that augmented and virtual reality are going to enable a deeper sense of presence and social connection than any existing platform. And they’re going to be an important part of how we will interact with computers in the future.”
It’s undeniable that AR has gained serious momentum in the last years. Still, if your client is hesitant if he/she should give augmented reality a go, here are 7 stats that will help you win your next app development project.
7 augmented reality statistics every app developer should know
- 1. By 2024 there will be an estimated 1.7 billion mobile augmented reality (AR) users worldwide, a rise of 1.5 billion from the 200 million seen in 2015(Statista)
- 2. Consumers believe AR is the most disruptive emerging technology, overtaking AI (GlobalData).
- 3. Around 75% of the global population and almost 100% of the smartphone user population are expected to turn into AR frequent users by 2025 (Snap Consumer Global AR report).
- 4. The smartphone and handheld devices display segment is predicted to see the highest CAGR up to 2028 (Grand View Research).
- 5. Expectations for AR technologies continue to outpace VR in terms of expected revenue, market penetration, and consumer
adoption, with 3/4 of respondents expecting the AR market to eventually surpass VR in total revenue (Perkins Coie).
- 6. The retail sector continues to benefit from AR, with virtual fitting room market to exhibit 20.6% CAGR till 2028 (Fortune Business Insights).
- 7. The Metaverse market may reach $783.3 billion in 2024 vs. $478.7 billion in 2020 representing a compound annual growth rate of 13.1% (Bloomberg)
As data shows, augmented reality is growing exponentially. New creative AR apps, solutions, and devices are stirring up the market and gaining the trust and interest of users worldwide. And a great part of the AR success is due to its versatility.
AR technology is proving to be useful in practically every sector: retail, logistics, journalism, maintenance, fashion, tourism, gaming, decor and more. Check the top AR use-cases to see how mobile developers are using augmented reality to boost their apps and improve the overall user experience.
Already working with augmented reality and want to increase your chances of getting your AR project approved? Take a look at some tips we’ve collected for you on how to pitch augmented reality for your next project.
With augmented reality in current expansion the next big AR hit, after the Pokémon Go frenzy, is still up for grabs. Perfect time for innovative app developers to make their moves. Are you up for the challenge?
Talk to one of our specialists and learn how to get started with AR today.