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The VR/AR market today is reminiscent of the online video industry around 2000. Back then, streaming video was possible, but it was fragmented across different browsers, plugins, and applications. The emergence of YouTube and similar platforms revolutionized how people accessed and shared videos. Similarly, common portals are now transforming augmented reality and virtual reality into more accessible and user-friendly experiences.
While the current AR/VR landscape is still in its early stages, experts predict significant growth in the next decade. According to IDC, the global AR-related products and services market is expected to grow at a staggering 100% annually. By 2021, the market is projected to expand from $11.4 billion this year to $214 billion. Scientific research and healthcare are leading the charge, with AR/VR adoption rates exceeding 150% per year in these sectors.
Just as social media and smartphones transformed daily life, consumer enthusiasm for AR will eventually drive its integration into professional environments. While AR games and retail applications dominate headlines now, the majority of growth is expected to come from corporate and industrial sectors. Developers are increasingly focusing on creating immersive, productive AR content tailored for businesses.
Although games may grab attention, the largest share of AR/VR applications today is found in retail, particularly in pre-sale virtual displays. However, by 2021, IDC predicts that industrial maintenance and infrastructure management will surpass retail in significance. Games are expected to account for less than 5% of the market by then.
AR’s potential is nearly limitless because it doesn’t require users to wear headsets or block their view. Instead, it overlays digital information onto the real world through screens or smart devices, making it easy to apply across various industries. From healthcare to oil and gas exploration, AR is already being used to enhance training, improve diagnostics, and explore underground resources.
In sales, AR offers a powerful tool for customers to "try before they buy." For example, car dealers can use AR to show customers how a vehicle would look in their driveway or even let them experience a digital showroom on their phone. This not only enhances the customer experience but also increases conversion rates.
Training is another area where AR is making a big impact. Whether it's for classroom settings or on-the-job training, AR allows participants to interact with the same virtual environment regardless of their device. Companies like Across Realities are developing platforms that enable real-time sharing of AR content, making it easier for trainers to engage audiences.
In warehousing and logistics, AR improves efficiency by providing workers with real-time data, such as storage capacity, optimal routes, and inventory levels. It also helps reduce errors and streamline operations.
For large-scale engineering and maintenance, AR is proving invaluable. Workers can quickly access system component analyses, assembly instructions, and real-time guidance without having to manually review paper records. Additionally, AR can simulate dangerous environments, allowing workers to practice high-risk tasks safely.
As AR continues to evolve, the collaboration between AR platforms and scalable content libraries remains a key challenge. However, these solutions are becoming more refined and accessible over time.
This article is originally written by VR Net. Please cite VR Net and provide a backlink if you share it.
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