The Pokemon Go craze that turned normal people into smartphone-overdosing zombies has cast a blazing spotlight on augmented reality (AR) this summer.
The widespread press of the blockbuster interactive app has also coincided with the release of the Index AR Solutions enterprise market perspective. The Index team forecasts a $105 billion enterprise market for AR within 15 years.
The market perspective has garnered widespread press, including in an article in MIT Sloan Management Review. Clearly we made an impression on the MIT Sloan Management Review folks; the headline says it all: “The $105 Billion Enterprise Market for Pokemon Go.”
The article quotes Bhavesh Kumar, of VMWare Airwatch, in asserting that the consumer market is not the only place AR is taking off. Kumar is quoted in the article, based on a blog post he penned, as saying that there is “increasingly reason to believe that AR could take off for businesses long before it goes mainstream with consumers.
“Moreover,” according to the MIT Sloan Management Review article, “Kumar is backed up by a new study from Index AR Solutions, a developer of customized AR business solutions for the corporate market that is collaborating with Newport News Shipbuilding. Index AR forecasts that the enterprise market for AR will hit $105 billion within 15 years, including $49 billion in hardware, $11 billion in software, and $45 billion in services. Assuming, of course, that we can tear ourselves away from Pokemon Go.”
Our Index market perspective has been cited in a number of articles, including in a report on how the use of Google Glass at Boeing helps workers become more productive.
The market perspective underscores that AR is “ready now” for enterprise implementation. We have seen companies achieve double-digit improvements in revenue, cost, schedule and quality.
It’s not just that. AR has far-reaching implementations that span industry. Every company and industry sector has the potential to capitalize on enterprise augmented reality.
Yet there’s also a simplicity to it because unlike the adoption of other technologies that require significant investments upfront and over the course of many years before the value is realized, it’s not that way with AR. Companies can realize augmented reality’s value with the first application and every subsequent one.
These are the reasons we’ve been preaching to companies not to wait. Dramatic top line and bottom line results can be achieved with “ready now” augmented reality technology.
It’s why we say the Index market perspective is a must read for companies and organizations considering the use of AR. It’s also why we say augmented reality is an investment in your company’s or organization’s people to make them more capable, safe and productive.
To download a copy of the market perspective, go here: Augmented Reality Market Perspective