Virtual Reality is projected to be a $30 billion industry by 2020; Augmented Reality, on the other hand, is expected to reach $90 billion in revenue. These new technologies are similar, but people may be wondering about why AR has such a larger project revenue. This gap is largely attributed to AR’s use in everyday life—with the use of a smartphone, AR can be used anywhere at any time; unlike VR which requires a more technology heavy setup. By 2018, AR is expected to incorporate with social networks where information about a person will appear before your eyes. By 2019, 72% of digital advertising will target mobile users, personalizing advertisements to stream directly to glasses or contact lenses. Both the Meta AR Headset and the Microsoft Hololens are releasing this year, and AR devices are expected to gradually decrease in size over the next decade. Facebook has plans to create an AR device that looks like simple reading glasses, still allowing for digital overlay in real time. Sony and Samsung are taking this a step further with plans to introduce contact lenses that can take photos and videos with the blink of an eye. With advances such as these expected in the coming decade, it will be interesting to see how much further technology can go.
Below is the full infographic by Now Sourcing: