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What Are the Characteristics of the Augmented Reality Market?

G. Wiesen
G. Wiesen

The Augmented Reality (AR) market involves the use of audio, graphics or other enhancements from computers onto real time environments. Innovation is largely acknowledged and rewarded in this market, as different companies try to find ways to make uses of augmented reality more compelling. Spread and impact of AR applications is vital, since customers need to interact with a product to see its benefits or features. The augmented reality market is also striving to find ways to make the technology meaningful and profitable, as AR may end up as a gimmick if it is used without financial benefit.

Much of the augmented reality market is built around the use of hardware and software to make this technology function. AR works through a combination of at least one camera and display, as well as software that makes it function. Someone with a smart phone, for example, can download the appropriate application and then use the phone’s camera to scan a certain type of code. This code is read by the application and then turned into a virtual image, which is added to the real time image captured by the camera and displayed on the screen.

Woman holding a disc
Woman holding a disc

One of the major focal points of the augmented reality market is on innovation and the development of new applications for this technology, which is constantly evolving. Advertisers have found some success using AR to make print ads interactive, allowing viewers to use a code in the ad to see an augmented reality feature. Some companies have even included appropriate codes on packaging to include AR features in the visual design of a product. Each new method of approaching the augmented reality market has been recognized by advertisers and consumers, and so innovation continues to be of primary importance.

It is also vital, however, that work in the augmented reality market reaches a mass audience. In order for customers to be impacted by this technology, they need to see and interact with it. The augmented reality market relies on new customers learning about an application of the technology, seeking it out, and using it. Without this spread of information and usage, the market is limited by the technology required for people to view these products.

Much like any other industry, the augmented reality market is also dominated by a need to make products and applications of the technology profitable. An advertisement that effectively sells more products is often seen as effective. Too often, however, the technology can be used for applications that may be viewed as little more than a gimmick. Uses of AR need to be marketable; otherwise an investment in their development can become a waste of resources.

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