Augmented reality today is a reality in our lives, but there are still many who see it as a technology of the future, something that is accessible only to a few innovators and that requires high investments.
Augmented reality (AR) is the technology that superimposes digital layers (such as text, graphics, or videos) on the real environment. Adding these augmented objects requires a smartphone, a tablet or the use of smart glasses (eg: Google Glass).
But let’s get to the point: What is the return on investment and the effective opportunities of using Augmented Reality through glasses?
Looking at the Headworn AR Global Revenue Forecast 2019-2024 and the ARtillery Intelligence report, the income derived from the use of AR glasses to optimize industrial processes rises from € 677 million in 2019 to € 11 billion in 2024.
From these numbers it is extracted how more and more companies are going to join the use of this technology, not to be more modern, but to benefit from an increase in productivity that saves costs and gains efficiency.
In fact, it has been proven that thanks to AR, the speed of tasks is increased and errors during their execution are reduced. This thanks to the information, interactive content, remote video calls and more support options that augmented reality glasses allow. Workers can see and consult intuitively and above all, with their hands free, all kinds of information during the performance of their jobs.
HOW IS COVID-19 AFFECTING THE AR BUSINESS MARKET?
As is the case throughout the global economy, income derived from the use of Augmented Reality glasses is being affected by the Covid-19 pandemic.
Enterprise markets could suffer somewhat from recessionary spending and supply chain impediments. But it is also true that certain types of business AR such as remote assistance and guided maintenance align perfectly with social distancing requirements in the workplace.
In addition, it is possible to save up to 60% of travel costs thanks to the reduction of the same and the intervention time in case of industrial problems.
For example, many specialized technicians can work comfortably from home solving incidents virtually with a remote worker, simultaneously, efficiently and safely, saving on physical trips that now more than ever have to be kept to a minimum.
Mike Boland (Chief Analyst, ARtillery Intelligence) states: “This could mean that adoption pressured by COVID exposes technology in ways that lead to new habits for companies staying in the post-COVID era of semi-remote work.”
So now is the time to make this technology a support to industrial activities to improve the conditions of workers and the pockets of companies. Start today to enjoy the benefits of Augmented Reality.
What do you do ….. do you stay behind?