Augmented reality market to hit $1.06 billion by 2018

Augmented Reality Vision

Augmented reality market is thriving

Markets and Markets, a leading market research firm, has released a new report concerning the global augmented reality market. AR has been growing in popularity among consumers and businesses alike recently. The technology has long been restricted to the entertainment and marketing sectors because of its ability to produce dynamic content for consumers to enjoy. Augmented reality has recently begun entering new sectors, however, and has been seeing more use in medical and military applications.

Report highlights the use of AR in various fields

According to the report, the global augmented reality market is thriving. As the capabilities of the technology become better understood, the way that augmented reality is beginning to change. In Germany, for instance, surgeons recently used an iPad equipped with an AR application to assist in a surgical procedure. The surgeons declared the use of augmented reality to be a major factor in the success of the procedure. The technology is also beginning to see more use in the construction sector, where architects are using the technology to develop accurate and interactive blueprints for their projects.

Augmented Reality VisionAR is becoming more prominent in gaming

The report predicts that the global augmented reality market will be worth more than $1.06 billion by 2018 and will see a compound annual growth rate of 15.18% from 2013 to 2018. While augmented reality is finding more use in practical fields, the technology is likely to remain prominent in the marketing and entertainment sectors, especially when it comes to gaming. Augmented reality and mobile games go hand-in-hand, as the technology can turn a real world environment into a gaming space. Consumers around the world have expressed enthusiasm when it comes to augmented reality games.

Wearable technology leverages the power of augmented reality

The limits of augmented reality are still being tested. The technology has become a common focus for companies developing wearable devices. Google is one such company and plans to use augmented reality with its Glass product. Glass is, essentially, eyewear that can leverage the power of augmented reality to enhance social networking and Internet browsing.

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