Are you a business owner? Do you enjoy keeping close tabs on your industry? Do you know how things could change for your company and industry in the years to come?
One thing you should realize is this: there is no constant when it comes to the business world. What works today may not work tomorrow. And what works tomorrow may not do anything for your company next year.
This is why you should always be changing. And this is why you should be focused on learning more about augmented reality.
This technology continues to grow, with this passage from Statista showing you just what the future will bring:
“In 2020, the augmented and virtual reality market is expected to reach a market size of 143.3 billion U.S. dollars.”
Think about that for a second. In 2016, Statista pegged the size of the augmented and virtual reality market at $6.1 billion. However, within four short years, it’s expected to easily exceed $100 billion.
There are many reasons for the growth of this market, including the fact that companies of all sizes are looking into the many ways to take advantage.
Here are 3 ways augmented reality is changing the business world:
1. Enhanced Marketing Strategy
A company without a marketing strategy is one that is sure to fail. This is why so many businesses spend countless amounts of money, time, and resources getting things just right.
In the years to come, interactive marketing tools for businesses are going to take off.
The companies that learn more about these tools are the ones that will come out on top. The rest, those that ignore new technology, will find it a challenge to keep pace.
2. Online Shopping
Augmented reality in the retail space is not just the next big thing, and here’s why: it’s already here!
A growing number of online retailers are looking for ways to improve the shopping experience through the use of augmented reality.
There are stores, such as Gap, that are using this technology so consumers can see how a product will appear on their body, all without having to actually visit a local store.
And then you have retailers like IKEA making it a breeze to see how a piece of furniture will look in a space, all without the need to bring it home.
Online shopping continues to change with each passing year, and augmented reality will continue to be a big part of the development.
3. More Efficient Remote Work
Working from home is more common than ever before. The same holds true for companies that have employees stationed all over the world.
While there are tools that help distributed teams stay in touch, augmented reality is about to change all of this.
For example, augmented reality could bring everyone together in the same room, despite the fact that they are in different physical locations. Imagine how this will change the way companies hold meetings.
Even better is the fact that augmented reality can help better engage remote workers. Gone are the days of sitting on a boring conference call, waiting for it to end. With augmented reality, everyone is engaged from start to finish.
Conclusion
Go back in time 20 years and no one was spending much time thinking about augmented reality. Sure, people thought something like this would be interesting, but they had no idea of if it was actually possible.
Now, augmented reality is front and center and the business world is changing in many ways as a result.
You can do one of two things:
- Continue to ignore augmented reality, thinking that it will go away
- Embrace this technology in an attempt to make it work for you and your company
It goes without saying that the second approach is the better of the two. This gives you the opportunity to take advantage of a market that is set to experience record shattering growth over the next three years.
What are your thoughts on augmented reality and the way it will impact the business world in the years to come? Do you already have experience with this type of technology in a work setting? Share your knowledge and thoughts in the comment section below.
