Augmented reality solutions have increased in popularity as many industries started to jump on this latest innovation. We frequently mention the effects of AR on the eCommerce sector with qualified data in our content. How about focusing directly on the data itself this time? No matter how familiar you think you are, these AR statistics and their impact on the global market may surprise you.
Well, how about turning this into a fun question-and-answer game?
According to Statista data, the global augmented reality (AR), virtual reality (VR), and mixed reality (MR) market reached 28 billion USD in 2021 and is expected to exceed 250 billion USD by 2028.
It is safe to say that the combination of eCommerce & AR is one of the biggest reasons for the expected increase in AR share globally. Many businesses today are leveraging AR solutions as part of their sales and marketing strategies. In this way, while customers enjoy personalized hyperrealistic experiences with features such as virtual try-on, businesses obtain outputs that strengthen customer bonds such as brand loyalty. Happy ending stories are possible with AR.
According to Statista data, in 2020, estimated consumer spending on augmented and virtual reality (AR/VR) technology was approximately 6.36 billion USD, compared to around 2 billion USD for the distribution and services sector. In the chart, the distribution and services sector was followed by manufacturing and resources with a share of 1.66 billion USD. The graph continues with the public sector segments with 1.52 billion USD, infrastructure with 0.38 billion USD, and others with 0.19 billion USD.
At the top of the chart, consumer AR spending covers all mobile AR apps and experiences for which consumers pay. Of course, we are not talking about AR services offered by businesses in their online shopping experiences. A good example would be in-app purchases in the game Pokemon Go, which falls under the direct consumer spending group. The increasing functionality of smartphones has been decisive in terms of consumers' connection with AR. And tech companies aware of this are working hard to develop AR hardware that will take smart devices out of the equation.
According to Statista data, in 2024, the most important use cases for AR/VR are expected to be VR gaming, VR video/feature, and VR gaming with a market volume of 17.6 billion USD. We can gather this category under the title of entertainment and games. Again, training and industrial maintenance, which are expected to receive peak investment, share the second place with a share of 4.1 billion USD. Retail showcasing, on the other hand, is also on the comparative chart with an amount close to 2.7 billion USD.
Although the entertainment and gaming industry has made AR a hit, its positioning as a game changer in the retail industry proves its long-term quality. After all, brands are also aware of this rise. For example, we can say that Gucci owning a place in Roblox is proof that brands are trying to become a shareholder in the entertainment industry by making smart moves.
Although it takes some time to accept the new, we are more inclined to adopt it when we see what it can do for us in the long run. It is possible to say the same thing for the story of the introduction of AR into our lives. A few years ago, the benefits of concepts like virtual try-on might not have mattered this much to any of us. Why bother to make the best decision with a smart device and camera when we can go to the store and shop? Then, when we least expected it, the pandemic came and online shopping became the center of our lives. The visionary brands that continued their work began to reap the fruits of their preparations. The rest rolled up their sleeves to take advantage of AR and VR services without wasting time.
According to the 2020 Statista data, we can say that the most important reason that 'scares' or 'pushes' users away from AR/VR experiences is insufficient hardware. 32% of AR/VR hardware users say cumbersome devices and frequent technical glitches have distracted them from this technological experience. We cannot measure exactly how much of this has changed in two years, but it is possible to say that major hardware developments from big tech companies are also on the way!
Incorporating AR solutions in your business, above all, allows you to express your products and services to consumers in a qualified and realistic way. Businesses that win the hearts of customers with hyperrealistic visuals and personalized high-quality 3D graphics become the preferred stop for their next shopping. You can benefit from the power of AR solutions to strengthen the bond you will establish with your customers. Now is the time to contact our professional team and see what you can do!