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Augmented Reality forecasts for the next few years

With the release of Pokémon Go in 2016, augmented reality triggered a real hype about the game and the technology behind it. Curiosity about augmented, virtual and mixed reality subsequently began to grow among many consumers. The state of the art has been continuously optimized with better VR glasses and AR software. However, the market for augmented reality offers has only developed slowly since 2016 and the boom in AR interest. The reasons for this were the inadequate hardware and high investments. The research institute Deloitte still sees enormous potential in AR and its experts firmly believe that the market will grow rapidly by 2024. So will augmented reality soon accompany us in all possible areas of life? Augmented Reality market forecasts say yes.


The forecasts look positive

According to the institute, the annual growth rate of AR or VR content and hardware in Germany alone should be 2024% by 30. The whole thing could be increased in the event of a new "trend", such as a new game app similar to that of Pokémon Go or the market launch of VR/AR hardware or software whose degree of innovation is so high that the majority of consumers decide to buy it and as a result significantly advance the market.

More than half of the consumers surveyed in the study can imagine using extended reality offers. The statistic even rises to 35% in people under 70 years of age. Virtual reality technologies among consumers are still almost exclusively associated with gaming and tech geeks, but augmented reality has shown greater demand in other areas in recent years. According to a global study by Google around 66% of internet users would like help from augmented reality when shopping online. But these technologies are not only in demand for online shopping, consumers would also like to have similar offers in the entertainment industry for films or live sports broadcasts. Virtual meetings have become increasingly relevant due to the pandemic, and team meetings in the Metaverse seem to be gaining popularity here as well.


Which augmented reality offers are particularly in demand?

According to augmented reality market forecasts, online shopping and product visualization with the help of augmented reality are at the forefront in terms of demand. Consumers often agree that such a solution is far less of a headache than regular images, especially for expensive and large products. However, there are no limits to the possibilities for AR offers and there are many Applications. For example, support from augmented reality is in high demand for navigation services and travel guides. Location-based AR, such as you get with virtual content about attractions and restaurants, also falls into this category. What is also becoming more interesting in addition to virtual meetings are AR offers in the field of training and teaching. Augmented and virtual reality can playfully embellish digital courses and also offer an immersive teaching experience, especially VR surgical simulations in medicine.


According to the market forecast, AR will soon establish itself everywhere

Most people still see virtual, augmented and mixed reality offers as something new that triggers widespread amazement. Extended reality technologies can be transferred to numerous areas of application to make our lives and our everyday activities easier and, above all, more efficient. Be it in marketing, shopping, communication or even at school: AR and VR are slowly but surely unfolding their full potential in favor of consumers. Forecasts show that VR, AR and XR can become a billion dollar market in the German-speaking market alone global market this has been the case for a long time. Offers will also perform even better through the 5G network than they already do. VR and AR service providers are mostly promising and innovative startups, but the use of them by corporate giants like IKEA shows us that the technology is definitely here to stay.