Augmented reality revenues to surpass $600 billion by 2016

Mobile Commerce Future

MCommerce Future

New report provides insight and predictions for the use of augmented reality technology

Semico Research, a semiconductor marketing and consulting research firm, has released a new report that shows the impact of augmented reality on daily life and its effect on the markets making use of the technology. Despite the age of augmented reality – dating back to when 3D technology was first developed – the technology is still in its early stages. As such, the economic potential of the technology and its impact on consumers has not been fully investigated. Semico’s report aims to provide insight on the technology and predict the future value of the technology.

Augmented reality quickly gaining ground amongst companies and consumers

Semico’s report, which is titled “Augmented Reality: Envision a More Intelligent World,” predicts that the revenue generated by augmented reality technology will reach $600 billion by 2016. The report notes that use of augmented reality is growing quickly amongst companies and consumers alike. Both have shown an interest in augmented reality and its capabilities in generating interactive digital content. The report suggests that augmented reality holds more promise than other interactive technologies, such as QR codes and NFC, because it can be used for more than just marketing.

High-end mobile devices and vehicles to make use of interactive technology

As high-end mobile devices become more common, augmented reality is expected to play a bigger role amongst consumers. Semico predicts that more than 864 million mobile devices will be equipped with augmented reality technology by 2014. The firm also predicts that more than 103 million vehicles will include some form of augmented reality system by 2020. Augmented reality developers stand to see a great deal of benefit from the increased popularity surrounding the technology.

Augmented reality experiencing a great deal of success in mobile space

Augmented reality is currently experiencing a great deal of success in the mobile space, where it is being used in a wide variety of applications. These apps have exposed consumers to augmented reality and its capabilities. As the technology matures further, its uses are likely to expand into more practical territory. The technology’s transition away from novelty is expected to gain momentum as more companies begin utilizing it.

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