The Benefits of Augmented Reality for Business
Published September 27, 2023
There’s no denying that Augmented Reality Benefits Businesses and poses a big move in the Retail Industry. From Pokémon Go to IKEA and from Snapchat to L’Oréal, almost every business is trying out its luck in the immersive world of Augmented Reality.
Shockingly, in 2019 the market size of AR was $67.5 Million, but with a rise of 28.6% CAGR, it is expected to boost to $1848.9 Million in 2025. So, it’s pretty obvious that AR is the new trendsetter in businesses.
Businesses have transformed their look with the potential benefits of augmented reality. They’re using augmented reality as a tool to taste success and outshine in the competitive industry.
But in case you are uninformed of what augmented reality is capable of, this blog is a must-read for you. It will help to understand the impact and benefits of Augmented Reality in businesses. We can assist you in staying ahead of the competition and transforming your business appearance with AR.
Before you read ahead, here is a quick overview of what is AR in business.
AR integrates digital information into the real world in real time, allowing users to interact with their surroundings while displaying computer-generated data as an overlay, unlike VR, which creates entirely artificial environments.
Different Types of AR Applications Used in The Market
Depending on the market requirements, there are different types of AR applications used in businesses serving different capabilities.
1. Marker-Based AR
Marker-based AR overlays digital content on real-world objects or markers, like QR codes, serving as reference points for recognition.
For instance: Any retail company can use it to enhance its catalog, allowing customers to scan product images with a mobile app to access extra product details and purchase options.
2. Markerless AR
Markerless AR, also known as location-based AR, doesn’t need markers. It uses geolocation and computer vision to place digital content in the user’s environment.
For instance: Any retailer can use markerless AR to allow customers to place virtual furniture in their homes without the need for physical markers, enabling them to visualize products in their own space before purchase.
3. Projection-Based AR
Projection-based AR involves projecting digital content or visual information onto real-world surfaces to enhance the user’s perception of the environment.
For instance: Projection-Based AR is used to display virtual clothing collections on dummies, enabling customers to see different outfits without physical changes.
4. Location-Based AR
Location-based AR is like a markerless AR that overlays digital content and information onto the user’s real-world environment based on their geographical location.
For instance: A restaurant can use location-based AR to offer customers personalized menu recommendations based on their current location and preferences.
5. Superimposition-Based AR
Superimposition-based AR replaces real-world objects like book covers, product labels, or landmarks with digital content by identifying and overlaying it on these objects in the user’s view.
For Instance: Superimposition-based AR technology is used in Snapchat’s face filters, where digital masks and effects are superimposed onto users’ faces in real time during video chats or selfies.
How the Impact of AR Is Helping in Shaping Different Industries
Augmented Reality (AR) technology has empowered entrepreneurs to tackle fundamental obstacles and enhance profitability across diverse industries. Here are examples of businesses implementing AR and the benefits of Augmented Reality to the business landscape.
AR enables virtual try-ons, product visualizations, and interactive shopping experiences, driving customer engagement and reducing return rates.
As an illustration, the IKEA Place app enables customers to superimpose furniture in their homes before buying, improving the shopping experience and aiding in informed decision-making.
2. Manufacturing and Industrial:
AR improves assembly, maintenance, and quality control processes, reducing errors and downtime while enhancing workers’ productivity.
As an example, Porsche utilizes AR glasses to offer real-time guidance to mechanics, optimizing vehicle repair and maintenance procedures.
Medical professionals use AR for surgical planning, patient visualization, and training, leading to safer and more efficient procedures.
For example, AR-assisted surgery provides real-time visual guidance during complex operations, reducing risks and improving precision.
AR enhances learning through interactive content, making complex subjects more engaging and improving student retention.
For instance, the app “Google Expeditions” allows students to take virtual field trips to historical sites and explore scientific environments, enhancing their understanding of the subjects.
5. Tourism and Hospitality:
AR offers tourists interactive guides, navigation, and information about attractions, enhancing the overall visitor experience.
For example, the “HoloTour” app by Microsoft, provides virtual tours of famous destinations, enriching travelers’ exploration.
6. Real Estate:
AR enables virtual property tours, making it easier for buyers to explore properties remotely and aiding real estate agents in marketing.
For example, Zillow’s “3D Home” app, provides immersive virtual tours of properties, allowing potential buyers to navigate and assess homes online before visiting them in person.
7. Gaming and Entertainment:
AR games like Pokémon GO and interactive entertainment apps merge digital and physical worlds, captivating users and driving engagement.
Amazing Example is the AR-based “Wizards Unite” game from the makers of Harry Potter, which immerses players in a magical augmented reality world, enhancing the gaming experience.
8. Construction and Architecture:
AR aids in design visualization, project planning, and on-site construction tasks, reducing errors and improving project outcomes.
For instance, Trimble’s SketchUp Viewer enables architects and construction professionals to view 3D models on-site using AR, enhancing collaboration and accuracy during construction projects.
How Codiant Can Help You Integrate Augmented Reality into Your Business?
When discussing the utilization of augmented reality for business, here’s the strategic path that Codiant explores and then implements its diverse applications.
Conduct Market Research
Before jumping on the AR bandwagon, conduct thorough market and competitive research. Invest time in analyzing the AR market’s potential, its future prospects, and how it has reshaped others’ brand identities. This effort will ensure a more informed and strategic approach to implementing augmented reality in your business.
Analyse Internal Business Obstacles
As you learn from others’ AR successes, it’s vital to assess your traditional processes’ limitations. This involves examining various business segments and involving teams to identify their specific challenges. Afterward, explore strategies for AR apps on Android and iOS development.
Recruit A Skilled AR App Specialist from Codiant
After assessing the challenges and potential benefits of integrating AR into your business, the next step is to choose the ideal AR VR development partner.
Codiant has extensive experience in crafting augmented reality apps for businesses. We can provide invaluable insights into how Augmented Reality for business can address current challenges of the organization.
Furthermore, we can offer expert guidance on essential Augmented Reality app features and help you estimate the development costs accurately. By partnering with us, you gain a strategic advantage in navigating the AR landscape.
Effective Ways Businesses Could Use AR To Improve Processes and Services
Augmented Reality (AR) presents numerous opportunities across industries, from improving employee training to enhancing customer experiences. Let’s explore how businesses can use AR to elevate processes and customer service.
1. Previewing the Outcomes of Prospective Projects
In the future, augmented reality will play a vital role in visualizing the results of possible projects, trials, and strategies, especially for customer service improvements. This ensures an optimized customer experience without requiring adjustments after implementation, ultimately boosting revenue and innovation in business operations.
2. Fuelling Engaging Sales Demonstrations
AR, coupled with live communication, allows for immersive virtual product demos. Sales reps can use AR to show 3D product models in a customer’s space and explain how they function. Customers can also use AR to interact with the product, guided by the sales rep.
3. Improving Live Audience Engagements
Entertainment firms should integrate AR via mobile phones for live events, enriching the audience’s experience with added graphics, 3D visuals, and exclusive previews like upcoming album covers. Such enhancements can create a sense of exclusivity, ultimately boosting entertainment companies’ profits.
4. Performing Market Analysis
Combining AI with eye tracking is a valuable tool for market research. Advanced computer vision can improve digital ads by monitoring where users look on the screen, how long they engage with ads, and if they lose interest.
5. Tailoring In-Store Shopping Experiences
Businesses can use AR to improve in-store shopping. For instance, retailers can create AR apps for customers to see how furniture looks in their homes before buying, providing a more immersive and personalized experience.
6. Navigating Complicated Field Maintenance Procedures
AR helps businesses with complex maintenance needs by connecting experts in real-time, no matter where they are. This remote assistance uses digital overlays to guide users, enhancing safety, results, and cost savings.
7. Crafting Lifelike 3D Property Walkthroughs
In real estate, AR can excel by crafting lifelike 3D property tours. This lets potential buyers and renters explore properties more vividly before committing, offering a personalized touch that can greatly increase sales.
8. Fostering Innovative Solutions
AR can boost business innovation, like creating an interactive 3D product catalog. It offers customers a unique way to engage with the brand and research products, reducing the reliance on in-person shopping or support staff.
Augmented Reality (AR) is rapidly igniting the business landscape, unveiling uncharted territories of potential. Its most captivating aspect lies in its ability to boost user engagement rates for businesses.
With AR, people can effortlessly virtually try on outfits, embark on guided virtual tours, and visualize furniture placements in their living rooms, transcending previous limitations.
It’s a game-changer that beckons entrepreneurs to seize the moment and craft applications that captivate customers, seamlessly slotting into cutting-edge marketing campaigns.
The undeniable advantages of augmented reality have transcended debate, offering a potent remedy for business growth. The App Solutions stands ready, and well-equipped to guide you in harnessing this transformative technology for your business advantage.
In this dynamic landscape, top app development firms leverage AR, sculpting superior user interfaces and simplifying intricate data processes for their clients. Are you ready for AR app development for your business? Contact Codiant for your tailored business requirements.
Now that you are acquainted with the vast use cases of AR in business; develop your augmented app Now!
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