Augmented Reality has emerged as a real game-changer. It is changing the process how people communicate and interact. According to a survey conducted by Research & Market, the world's largest and most reputed agency, both AR and 3D rendering markets will increase at a 38.4 per cent CAGR and have a market value of USD 172.8 billion by 2026.
It said that the of AR will keep increasing with the rise of the usage of smartphones. The technology offers a customizable solution, real-time interactions, and accurate representations experience to users like never before. This has also led to a transformation in the buying patterns by consumers. Consumers can access information and details of products from any place at any point in time.
Augmented Reality boon for healthcare, automobile industries
Augmented reality is currently being adopted by a number of industries that include retail, automobiles, healthcare and others. Shorya Mahajan of Adloid, an augmented reality venture, said that AR experiences are the way forward for brands to create personalized memorable experiences for their customers. Shorya added that it is going to disrupt ecommerce across all sectors.
"AR is particularly going to completely revolutionize how customers buy automobiles, home decor, eyewear, makeup, jewelry and other fashion products," he said.
AR, he said, is a huge win for both retailers and their end customers as it allows companies to offer 3D product visualizations, virtual showroom and try at home experiences at the click of a button.
"We only expect to see this trend increase with more and more retailers embracing the technology," he said.