Augmented reality is one of the technologies which retailers and brands are increasingly using for promoting their products and services and providing assistance to the consumers. Their affinity towards this technology has increased the prospects for mobile augmented reality to a great extent. A recent study by Juniper Research has revealed the immense scope of AR in the upcoming year. The report namely Mobile Augmented Reality: Smartphones, Tablets and Smart Glasses 2013-2018 has revealed that by 2015, the yearly revenues from mobile augmented reality applications and services will be around 1.2 billion dollars, which in 2013, was merely above 180 million dollars.
Largest revenue generator
As per the report, in 2013, AR games accounted for more than 40% of AR downloads. It is being predicted that in the near future, AR games will continue to be the largest revenue generator. Apart from application in games, AR is now being increasingly used in other mainstream areas like enterprise, lifestyle and entertainment. The report states that within 5 to 6 years, each of these sectors should attain annual revenue of more than 1 billion dollar through mobile AR.
Extensive Engagement of Brands with Mobile Channels
The report states that over the last one and a half years, brands and retailers have extensively engaged with different mobile channels which have prompted the consumers to adopt AR applications at an increased rate. Mobile has now become the primary engagement channel and big brands like Heinz, Nestle and Unilever have recognized augmented reality as a vital means of increasing engagement within promotions.
Wearables will also play a Vital Role
The report also highlights that wearables are likely to play a vital role in monetization of AR apps, apart from smartphones. Google Glass is going to be launched later in 2014, while there are rumors that Samsung will also showcase its own smart glass by 2014 end. So, AR can be used for these innovations. The primary revenue will be generated through smartphones.
A word of Caution
The report warned the AR investors, that they needed to increase awareness among consumers about this technology while it was still time for introduction of legislation constraining or even stopping some AR applications on the grounds of libel, privacy or safety.
About Juniper Research: Juniper Research offers analytical and research services to the worldwide communications sector, delivering analyst reports, consultancy and industry commentary.
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