How much is it possible to earn with augmented reality glasses?
Augmented Reality is now 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 requires high investments.
Augmented reality (AR) is the technology that adds digital layers (such as text, graphical elements or videos) on top of the real environment. To embed these augmented objects requires a smartphone, a tablet or the use of smart glasses (e.g. 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 revenue 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 we can see 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 allows cost savings and efficiency gains.
In fact, it has been demonstrated that thanks to AR, the speed at which tasks are carried out increases and errors are reduced during their execution. This is thanks to the information, interactive content, remote video calls and more support options that augmented reality glasses enable. Workers can easily and intuitively view and consult all kinds of information during the performance of their jobs, and hands-free.
HOW IS COVID IMPACTING THE AR BUSINESS MARKET?
Like across the global economy, the revenues derived from the use of Augmented Reality glasses are being impacted by the Covid-19 pandemic. Enterprise markets may suffer to some extent due to recessionary spending and supply chain impediments. But it is also true that certain types of enterprise AR such as remote assistance and guided maintenance align perfectly with social distancing requirements in the workplace.
It is also possible to save up to 60% of travel costs by reducing travel and intervention time in the event 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 travel, which now more than ever needs to be kept to a minimum.
Mike Boland (Chief Analyst, ARtillery Intelligence) states, “This could mean that the adoption pressured by COVID exposes the technology in ways that lead to new habits for companies that remain in the post-COVID era of semi-remote work.”
Therefore, the time has come to use this technology to support industrial activities in order to improve the conditions of workers and the pocket of companies. Start enjoying the benefits of Augmented Reality today.
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