Augmented reality is going to be big, we know that. But how big? Well, that’s information that magicians and analysts at the big research companies can figure out (or guess at) using very big spreadsheets and whatever information they can get from vendors or end users.
So, looking ahead, Report Buyer’s latest piece suggests that the global mobile AR market will boom with a compound annual growth rate (CAGR) of 64.4% from 2017 to 2023. That’s the proportional growth rate from year to year, and it sounds pretty healthy.
In cash terms, there’s another report from Transparency Market Research that suggests a value approaching $550 billion by 2024. You can read the highlights or these reports, but naturally have to pay for the full detail, so that money could be spread very far and wide.
Market reality for AR
IT research firm IDC has a post suggesting augmented reality headsets will gain momentum by 2020. Gartner has plenty of free research on the subject (registration required), mostly focused on AR’s value as a strategic technology trend, which sounds impressive.
As far as developers, users and fans of the technology go, what all that really means is plenty of apps will feature AR as companies figure out where it can make them money, either by making tasks more efficient, selling more products or attracting new customers.