Exploring the Growing AR Market

Augmented Reality is a dynamic concept that aims to enhance user experiences by modifying the real physical world through digital sensory elements. The primary objective of AR is to highlight the targeted attributes of the real world to improve its understanding and gain deeper insights into it. Such smart data facilitates the companies in coming up with better and well-informed decisions to improve buying experiences.

Brands That Use Augmented Reality

The AR Market will be valued at more than $340 billion by 2028, as disclosed by Techjury, while its current market value is $3.5 billion. The number of companies investing in AR is rising today and shows no signs of falling in the near future.

1. IKEA Studio App:

IKEA studio application, unlike its earlier IKEA place app, allows users to create 3D space plans and design them as they please. This initiative deepens the consumer connection and user experience by infusing their choices of upholstery and interior elements into the design.

2. Snap-City Painter:

Snap launched City Painter in October 2020 in London. Through City Painter, an AR tool, the user can adorn the street shops by using virtual spray paint and pre-made murals. Another feature of this AR tool is a mutual AR experience, i.e., anyone etching any modifications would be noticed by others using it in real-time. Snap explains that the platform uses diverse data sources, community snaps, and 360-degree pictures to create a digital and augmented version of the tangible world.

3. Gucci:

Gucci, too, leaps forth to harness the potential of Augmented Reality in enhancing the customer experiences and assisting them in making better decisions while shopping. Gucci pioneered AR use among luxury brands by integrating an AR feature on the application. This attribute allows the customer to try on accessories like sneakers to understand the product’s size, appearance, and suitability. Gucci renders a real-time experience to its customers in availing them with a visual representation of the product to understand how it would look in real life. The behemoth has also launched virtual sneakers created to be donned and shared solely on online platforms.

4. Amazon:

Amazon serves another feat in its real-world hair dyeing salon. Here, customers start by tapping the product they want, which then displays the pertinent information about the product on the screen in videos or blog content. Then, while making the purchase, the user will have to scan the QR code mentioned on the shelf from where the product was taken. This would take the customer to the eCommerce site, and he can further try the hair dye via AR technology to refine the decision for buying the most suitable hair color.

5. Walmart:

Walmart puts AR to use in its improvement and management of workflows, which assists in stocking the shelves with products in time. Smooth internal store processing helps the user indirectly by enhancing its experience.

6. Cadbury:

Cadbury manipulated AR to boost engagement with the brand further when it launched Advent Heroes Event on Christmas. It started with a distribution of Holiday Heroes calendars to the customers. The calendars were to be accessed and used in tandem with an Augmented Reality application developed along with Blippar. Each day when the consumer looked up for a date through the software, it delivered a dynamic and fun experience in its selfies related to holidays. This great marketing strategy enhanced Cadbury’s connection with its customers and expanded the social media reach via the #cadvent Instagram movement.

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AR Market Trends & Stats To Know in 2022

(source: Techjury)

• The Augmented Reality market revenue will touch $340 billion by 2028.
• The benefits of AR are recognized and affirmed by 70% of today’s consumers.
• The present market worth for AR is $3.25 billion, which can hit more than $18 billion by 2023.
• AR/VR advertisements are the top preference of 67% of buyers and media planners in digital marketing campaigns.

The days are not far off when Augmented Reality will take over the digital world in most sectors. Technological advancements and progress in machine learning that are being made continuously are expanding its horizons further.

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