Enterprise AR App Revenues to Approach £1b
A press release by ResponseSource reports on a recent Juniper Research Study, which has predicted that enterprise Augmented Reality app revenues will reach $5.7 billion by 2021, compared to approximately $515 million in 2016.
Enterprise interest in AR devices has also increased due to improvements in head mounted displays, future releases of which are said to fuel AR enterprise revenues in the future. However, due to AR content being bespoke, app prices will increase, so that only early adopters of tech will utilise it in coming years.
AR revenues are also forecast to stay on tablet and smartphone devices in the next few years, although head mounted display developers will have the biggest opportunity for revenue from 2020.
To keep users interested, the report also advises continual innovation rather than simply focusing on smartphone development. The novelty of major consumer AR apps such as Pokemon Go wears off after a while, causing a shorter shelf life compared to the wider range of AR apps.
Increased cost of head mounted displays and reluctance of consumers to use them publicly has also been said to reduce smart glass purchases in the short term.