Augmented Reality

The Augmented Reality market research study delivers current market analysis plus a five year market and technology forecast. The study is available in multiple editions including worldwide, all regions, and most major countries.

Demand for Advanced Remote Collaboration Tools Drive the Industrial Augmented Reality Market

New ARC Advisory Group research reveals the upside of the COVID-19 pandemic that hastened the adoption of augmented reality (AR), for industrial maintenance and operations. Augmented reality uses computer technology to augment the user’s real-world environment with digital content. With AR, digital media is superimposed over part of the user’s field-of-view to augment what they see. While AR is not a new concept, all the advancements in various areas such as computer vision, sensing technologies, data storage, displays, and software technologies, have now made augmented reality a much more practical solution for consumer, commercial, and industrial adoption. Although, still in the early stages of the AR revolution, we are seeing an explosion of augmented reality startups, thanks to all the interest by the venture capital (VC) world. The market outlook remains positive for industrial augmented reality solutions. Building upon growing adoption prior to 2020, the pandemic accelerated the use of AR technology, particularly to support remote collaboration.

Augmented Reality Strategic Issues and Market Trends

In addition to providing a five-year market forecast, the Augmented Reality market research report provides detailed quantitative current market data and addresses key strategic issues as follows.

Measuring Performance and Return on Investment

When it comes to convincing management of the value of new technology investment, nothing works better than demonstrated returns. Depending on the application, end users should try to quantify overall returns for their AR investments. ROI could come through lowered travel expenses of experts as they can now collaborate and assist remotely or by creating effective just-in-time training programs using AR or by helping assembly workers improve their speed and error rate. Whichever way the ROI is achieved, it is important to quantify it. Demonstrating returns are key to converting pilot programs to large scale successes.

Integrate AR Applications with Other Business Systems

As end users deploy more and more software tools, the task to manage and streamline the data from all these sources becomes a challenge. To get the most out of their software solutions, end users should review the need and benefits of integrating their various software tools. In some case, users may benefit by deploying the Industrial IoT platform that helps integrate and tie in their various tools and have a single version of truth. For example, users may benefit from AR software tools that can integrate with CAD software and pull CAD models to expedite AR content creation. If AR is used to guide operators with their operations and maintenance tasks, integration with ERP and asset management software will help them get easy access to all the asset health information. In case a work order needs to be created or parts need to be ordered, they can do that easily from one place, and all the changes are saved in the respective software. This ensures that no information is lost, and there is only one version of the truth.

Consider Solutions that Support Industrial IoT or Industry 4.0 Environment

Many AR solutions support smart connected environment based on Industrial IoT, or Industry 4.0. Smart connected products provide opportunities to increase operational efficiency from the plant floor to the supply chain by optimizing data and information. 

End users should plan for the long-term when it comes to AR adoption. End users looking to leverage AR across multiple functions and departments, should consider solutions that allow easy integration across multiple business systems. Continuing innovations in connected solutions are all critical to the future of connected machinery that will become integrated within the emerging Industrial IoT or Industry 4.0 infrastructure, which includes data capturing in the cloud and cloud computing.