AR To Become A Multi Billion $ Market! Want To Be The Reason For It?

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Actual inspection by going to the place where the error exists is far too old fashioned now. This is the era where you can take a look at the error sitting at your regular comfort, that too from a 360-degree perspective.

Yes, that’s Augmented Reality for you!

AR has made possible a lot of things like inspecting the fault in your oil pipeline without actually having to take any physical efforts. Or say the revolution it has brought in the gaming industry by introducing Pokemon Go, Zombie Go, and the most recent, Wizards Unite.

Pokemon Go

Zombie Go

Harry Potter: Wizards Unite

With big enterprises like Niantic, Amazon and Honeywell Group constantly leveraging AR technologies to build new solutions, global AR market is constantly seeing a steep rise in its growth.

Read about the latest trends of AR here

In a recently held Honeywell Users Group conference in Madrid, it was brought to light that trying on an AR headset with ‘smart’ goggles brought up a plethora of solutions ranging from digital plant operating manuals to VR premised health and safety training environment. Entirely linked via a wireless connection for information exchange and guidance – all in real-time, with video, audio, and graphics.

Comparing Digital Solution and Interactive Solution

Jason Urso, Chief Technology Officer at Honeywell Process Solutions compares physical maps to Google maps.

If google maps were just the digital maps without any additional functions it would have been much less interactive and therefore making it less interesting and less preferable than it is today!

Google maps offer road preferences, connects your phone apps to it, suggests you the easiest route, provides voice assistance etc.

Such is the importance of making your solution as interesting and interactive as you can, AR assists you to achieve it!

AR and VR technologies are now multi-billion dollar industry ( to be exact, $209.2 Billion by 2022), combining competency and real-time risk assessment along with audio integration to revolutionize the technology worldwide.

Related Resource: Augmented Reality Is Altering The Real Estate Landscape

We are still not close to exploring AR to its fullest but soon enough curiosity and need will push us to discover new dimensions of AR.

Energy and Utilities Sector of AR

Energy and utilities rank among the top three verticals in terms of Augmented Reality (AR) glasses shipments and total value chain revenues.

Why?

The priority on safety emphasized by the energy and utility industry and Augmented Reality’s ability to enhance worker’s safety and protect equipment addresses is the reason for the growth in its market revenue.

Total AR market revenues for the energy and utilities industry are expected to grow to US$18 billion by 2022 – ABI Research

The Electric Power Research Institute (EPRI) has studied the importance of AR to the energy industry and has been involved in several vendors’ efforts to investigate and pilot the use of AR in electric and utility operations.

Eric Abbruzzese, Principle Analyst of ABI Research said that,

Safety is a dominant theme for energy and utilities. Durable and dependable AR devices can operate well in potentially hazardous environments such as those with explosive dust or flammable gas.

Conclusion

AR is penetrating into every business shrine only to make it better. No wonder it is being projected as one of the next big technological advancements by the business tycoons.

Since the audience has been super accepting of the apps that have AR implementation, it leaves a wider chance for the startups to try and leverage Augmented Reality into their businesses.


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