Augmented Reality in 2021
Augmented may have started with the gaming industry (Microsoft Kinect, Pokemon Go…), but it has now won over virtually every industry, from automotive to health, education to retail. Recent figures show the AR market size is projected to reach $36664.5 Million by 2026, with endless potential for growth. With the global AR market in 2019, representing $849 Million, the numbers predict a compound annual growth rate of 27.6% between 2020 and 2026. Mirroring these figures, Deloitte estimates that in order to boost engagement and conversions, 88% of mid-sized companies are implementing AR into their upcoming marketing strategies.
Statistics You Need To Know About AR
1.Over half of consumers report wanting to use VR or AR in the next three months (53%).
2.The AR/VR market sold 8.9 million units by 2018. The number is expected to reach 65.9
million by the end of 2022.
3.In 2021, AR and VR headset sales are projected to reach $9.7 billion.
4.For nearly half of consumers, a retailer utilizing AR/VR would make it more likely for
them to shop there.
5.70% of customers are convinced that there are benefits to be brought by AR.
6.By the end of 2021, the AR market should count one billion users.
AR and VR’s growth potential is powerful in areas such as marketing, education, and retail,
which have already begun implementing the technology into their business strategies for the
coming years, for the young technology shows no sign of stopping its growth.
Example Uses of AR:
● AR interactive walls and mirrors: By combining AR with gesture recognition, video displays can be made more engaging and draw a crowd around an advertisement or an exhibit booth.
● AR Wayfinding - AR wayfinding uses filters to overlay data over real-world objects, with the goal of developing a highly customizable navigational tool, indoors or outdoors.
Untitled Project: Leading the Way for Indoor Wayfinding
The Singapore-born company has been named Experiential Agency of the year for Singapore after its extensive work developing immersive retail experiences and providing AR tools and intelligence to reshape industries across the world. The Untitled Project has produced regional content for Heineken, installations for Airbnb, immersive retail space for Samsung, C-level Sales Suite for Certis, and 3D Projection Mapping Events for ZoukOut and Diageo, working along the years with visual artists like Brandon Tay. They have consistently proved that immersion is the best way to reach all audiences.
Over seven years, Untitled Project has become one of Singapore’s leading AR filter companies, leading the way with world-class brand partners to utilize AR for increased customer engagement. Launched Q4 2020, Lightmap is a comprehensive wayfinding system that is highly customizable, and the best solution for introducing AR wayfinding if developing your own custom app is not the path for you.