A recent report by Juniper Research has revealed that Augmented Reality (AR) technology, used in the enterprise will drive annual app revenues of $2.4 billion in 2019, up from $247 million in 2014, a tenfold increase over the forecast period.
As per the report, Enterprise interest in AR has reached new heights, owing to improvements in software, wearable technology and the promise of significant efficiency gains. However, the individual needs of enterprises dictate that AR app costs will remain high for the foreseeable future.
The report also observed that, despite a high revenue forecast for the sector, the overall uptake of enterprise AR applications will remain relatively low until the end of the decade. At present, the enterprise AR app ecosystem has not fostered any standards with regards to development across devices, giving rise to a level of risk with regards to security and integration.
Besides this, the research found that enterprise head-mounted devices (HMDs) will overtake smartphones and tablets as the preferred AR device in terms of app use beyond 2019.
The report also found that the consumer HMD space will be ignited by at-home entertainment devices, such as Microsoft’s HoloLens.