According to some statistics, the percentage of AR users is expected to become 17% by 2022 which is almost a fifth of the consumer market. As consumer hardware gets lighter, faster, more power-efficient, and as companies get used to the AR user interface paradigms, this rate of adoption is on track to steadily increase.
EarlyBirds, a platform for an open innovation ecosystem, is encouraging business leaders to consider incorporating Augmented Reality (AR) in their respective fields of expertise. The company says that its listed innovators and global big data pool of innovative solutions can help businesses across a wide range of industries get started on their AR journey.
Augmented Reality is an experience where real-world objects are “augmented” with information to add interactivity and to make them relevant to the purpose of the application. There is a mixture of real and virtual objects to create an experience that is greater than the sum of its parts, often conveying valuable real-world information in a real-time interactive form. The industries at the forefront of AR include entertainment, specifically the gaming business. However, there has been a steady rise in the adoption of these technologies in traditional industries to help customers and business owners make better decisions.
An example use case of augmented reality outside of gaming is the fashion industry, which creates virtual representations of its products to let the user choose the right kind of look and pick out the best design from the brand’s catalogue. The interactive nature of the application increases customer engagement directly leading to higher sales for the company. It hits the exact pain point of the customer that wants to try out clothes before they make a decision. This kind of application uses simple hardware like a phone’s camera and then augments the final image of the user using sophisticated machine vision algorithms.
Another possible example is the use of AR in visualizing construction projects. Computer-generated final building 3D mockups can be superimposed on the real world to give residents and potential property owners a pre-emptive view. This view can be supplemented with 3D floor plans and layouts to give the buyers a significantly enhanced idea of their future investment.
Augmented reality enhances an often boring product experience to make it more engaging and memorable. It adds a new dimension to the product that can also be a new untapped recurring revenue stream. For example, augmented reality magazines can create interactive ads that require a reader to use a smartphone. These ads can then be fine-tuned according to the reader’s location to create a personalised experience. Advertisements supplemented by AR add direct response mechanics that let companies track how their ads are performing.
According to a statistic by Gartner over 100M consumers will use AR to shop in 2020. The ubiquity of smartphones is a big underlying factor behind this huge growth. The future will bring more AR augmented devices such as glasses that will drive this behaviour further. According to some statistics, the percentage of AR users is expected to become 17% by 2022 which is almost a fifth of the consumer market. As consumer hardware gets lighter, faster, more power-efficient, and as companies get used to the AR user interface paradigms, this rate of adoption is on track to steadily increase.
A spokesperson for EarlyBirds says, “Increasing engagement with the final product is an open question to solve in marketing. The challenge is to convey the utility of the final product to the customer from hundreds of miles away. AR is a great step towards bridging this sensory gap as it gives the consumer an almost life-like recreation of what they expect to put money towards. This has the potential to revolutionise hundreds of industries. The challenge is that innovation in AR has been limited to industries like architectural visualisation and gaming. There is a need for AR Subject Matter Experts to find business leaders who might need help solving the engagement question in their industry. EarlyBirds has created a platform that can help achieve just that. We are a melting pot of innovative ideas from which the most exciting products of the future will be created.”
EarlyBirds is open to Innovators, Early Adopters, and Consultants to network and find the right solution that matches their industry and gives them an edge over their competition.