Augmented Reality Industry to Hit USD 96 billion by 2021

augmented_reality_industry_to_hit_usd_96_billion_by_2021_insights_success

Thanks to a rising attention in the Augmented Reality’s (AR) benefits among the businesses, and more technology’s consumer applications across devices and platforms, ABI Research reports that the market for AR industry will hit USD 96 billion by 2021.

A 227% growth in shipments in AR-enabled “smart” glasses, along with 28 million being shipped in 2021, is the true contributor behind this forecast.

However, the industrial sector is the one that’s causing most of this growth: Logistics and manufacturing verticals will account for the bulk of the AR market in 2021, along with the media and entertainment and healthcare sectors growing the fastest (the annual growth rates of 400% and 323%, respectively).

“2016 was a year of discovery for AR, with the industry, focusing on initial ROI metrics,” Eric Abbruzzese, senior analyst for ABI Research said. “Pilot phases will continue into 2017, with early adopters moving to more substantial deployments. New AR customers will be excited by positive performance indicators across the market, with the promise of increased workforce efficiency and error reduction.”

He also added, “2018 will be the year all verticals, experience a significant jump in AR adoption rates. This is due to a congruence of three factors: significant time in market for pilot phases and small deployments to provide success indicators, greater breadth and depth of use case support through platforms, and an overall more mature market in terms of deployments, integrations, and usage.”