March 13, 2020
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 during the company’s 2020 first fiscal quarter earnings conference call:
“There are consumer applications and there are enterprise applications. This is the reason we’re so excited about AR. You rarely have new technology that both business and consumers see as key to them. That’s the reason I think it’s going to pervade your life – it’s going to go across both business and home life.”.
• Facebook CEO Mark Zuckerberg wrote on a Facebook post on January 9th, 2020:
“The technology platform of the 2010s was the mobile phone. While I expect phones to still be out primary devices through most of this decade, at some point in the 2020s, we will get breakthrough augmented reality glasses that will redefine our relationship with technology.”
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. The augmented reality market grew an active install base that approached 900 million and over $8 billion revenue in 2019. (Digi-Capital).
- 2. In 2020, 100 million consumers will shop in AR online and in-store (Gartner, Inc.).
- 3. In 2020, consumer AR/VR spending is expected to reach around seven billion U.S. dollars. (Statista).
- 4. In 2020, worldwide spending on AR/VR is expected to reach $18.8 Billion. (IDC).
- 5. Total consumer downloads of augmented reality applications worldwide in 2022 are predicted at over 5.5 billion. (Statista).
- 6. The long-term virtual and augmented reality forecast is for the AR/VR market to reach around $65 billion revenue by 2024. (Digi-Capital).
- 7. Worldwide spending on AR/VR products and services throughout the 2019-2023 forecast period, should achieve a five-year compound annual growth rate (CAGR) of 77.0%. (IDC)
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? Wikitude’s Marketing Director, Paula Monteiro, shares some excellent tips 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.