Top 5 Applications Of Augmented Reality To Grow Your Business
Augmented Reality is a technological phenomenon that has upended the current business world. It has an impact on a wide range of industries and will possibly change the manner in which organizations work together, increment efficiency and decrease overhead.
As per the International Data Corporation (IDC), total revenue in the Augmented Reality market is expected to reach around $162 billion by 2020. This is an exponential level of growth if we consider that the revenue in 2016 was around $5 billion. The image below provides an estimated revenue comparison between Augmented and Virtual Reality.
Integrating digital media with current business is hard. Regardless of this, the enthusiasm for augmented reality in businesses is rising. As the rise of smartphone penetration isn’t stopping anytime soon, exploiting this technology is a sensible move for any business.
Augmented reality (AR) is booming due to its massive potential. Gamers demonstrated AR to be a fantastic success in gaming with Pokémon Go and Minecraft Earth.
The infographic below, by FinancesOnline clearly depicts the widespread adoption of AR technology across industry verticals.
Thus, without further ado, let’s read on to understand some of the applications of Augmented Reality in different business sectors.
Augmented Reality In Retail
Perhaps the greatest issue in retail is finding the correct product. Where would you be able to best employ Augmented Reality in retail? It’s in wayfinding and product search.
The standard design of retail stores makes locating items a huge exercise in futility. A strong application of augmented reality in retail is providing a real-time map. This map can give directions to the location of various products.
By using such directions, you help the customer find things quicker. It can bring about faster checkout lines and speedier sales of products. The customer won’t have to sit around idly searching for items, instead spend more time on browsing or purchasing.
According to a 2018 study by BRP Consulting, nearly 50% of consumers are more likely to shop at a retailer providing AR capabilities.
Augmented Reality In Warehousing
Among the most demanding problems of warehousing come from the loading area. During inventory management, you don’t stop at setting your stock positions. You would need to optimize it to increase the utility of all your stock.
Similar to augmented reality in retail, creating an intelligent inventory locating system is helpful. Intuitive stock locators can help in both making the adequate space and in maximizing stock positions.
With augmented reality, organizations can make floor maps that show the positions of the items clearly. It can also help build cloud-based inventory management systems to save time, money, and labor.
Augmented Reality In Design
For interior designers, the power of augmented reality originates from its convenience. With AR, they can show how they can design the given space by giving a virtual peek to clients. It brings the showroom to clients rather than having them go there physically.
Organizations like Ikea created applications that show how furniture will look in people’s homes. By giving the client a choice, they will confide in your business even more.
Augmented Reality In Education
AR systems are among the most essential parts of innovation in the fields of education and training. The potential is boundless, bringing learning opportunities for everyone.
AR can show students study materials in 3D. Physical exhibits and demonstrations don’t have to depend on real physical items. Rather, reproductions and AR applications can give a comprehensive idea of the concept.
Doctors and surgeons can learn and simulate the human anatomy in the digital space first without using corpses. Children can learn about the universe and science without needing actual objects.
Increased Reality In Marketing
AR for advertising is the most obvious yet amazing uses of the tech trend.
First of all, advertisers can give potential customers a free preliminary in their homes before going to stores. In case you have an online business, giving AR trials can be a hit among customers.
AR can expand your marking materials by introducing more realistic and dynamic components. It can help make a buzz around the brand through fun augmented reality experiences. Contingent upon your budget and your product, AR has definite capabilities to improve your advertising.
Utilizing Augmented Reality For Your Business
Augmented Reality is a great innovation with limitless uses in every industry and sector. In case you’re a business, finding the correct AR application can give you a significant competitive advantage over your rivals.
