Augmented Reality Statistics 2023: Key Insights & Industry Trends
With the rapid progression of technology, we are witnessing a trend wherein Augmented Reality is becoming more and more popular among the masses. This can be attributed to the fact that advancements in various fields like computing, display technologies, artificial intelligence, and machine learning are enabling more sophisticated and seamless ways to leverage Augmented Reality in everyday life. The benefits of Augmented Reality are manifold, spanning from education to gaming to healthcare.
The ability to superimpose digital information on top of the real world opens up new avenues for immersive experiences and enhanced productivity. The adoption of Augmented Reality is also being driven by its increasing accessibility, as more and more devices, such as smartphones and tablets, are being equipped with AR capabilities. In the near future, we can expect Augmented Reality to play an even greater role in shaping the way we interact with the world around us.
Augmented Reality Market Statistics
$88.4 Billion
The global augmented reality (AR) market is forecasted to reach $88.4 billion by 2026.
Source: Markets & Markets
31.5% CAGR Growth
The Augmented Reality Market is expected to grow at a CAGR of 31.5% between 2023 to 2026.
Source: Markets & Markets
$5.1 Billion
The AR market for healthcare is forecasted to reach $5.1 billion.
$5.3 Billion
The education sector is also adopting AR technology rapidly with the AR market in the education sector forecasted to reach $5.3 billion by 2023.
Augmented Reality User Statistics
Data Source: Statista
1.73 Billion AR Users by 2023
The number of Augmented Reality users worldwide is expected to reach 1.73 billion by 2024.
Source: Statista
AR & VR potential boost to GDP by 2030
AR's is creating highly personalized Brand Experience
Today, with so many people utilizing augmented reality to make purchases; consumers continuously expect more personalized and engaging experiences.
AR has become the new consumer experience and cannot be ignored by brands. Companies that accept this change will emerge as leaders in their fields; those that resist it will lag behind other businesses and eventually fail.
100 million AR consumers
100 million consumers use augmented reality to shop both online and offline.
Source: Snap AR Global Report
94% prefer AR for shopping
94% firmly concur they'll use augmented reality (AR) at least as much as they did this year when shopping.
45% Higher Engagement
Augmented Reality received 45% higher engagement than TV.
Source: Mindshare
Brands with AR 41% more likely to be considered
Brands having an AR experience are 41% more likely to be considered by the users.
Source: Snap AR Global Report
AR solves $550 billion problem
One study found that consumers who used AR to try products virtually were 25% less likely to send purchases back. Product Returns are a $550 billion problem, which AR can help fix.
Source: Snap AR Global Report
50% likely to garner attention
People who frequently use AR with their family and friends are 50% more likely to pay attention to a brand.
AR brings transparency
Almost three out of four consumers say they would be willing to pay more for a product that promised complete transparency, which Augmented Reality can offer.
82% uptake in SAP Direct Mail
SAP Direct Mail experience saw an 81.91% uptake of recipients receiving the direct mail that went onto experiencing the Augmented Reality Campaign
Source: Reydar
I am so excited about AR. I think AR is one of these very few profound technologies that we will look back on one day and went, how did we live our lives without it? And so right now you can experience it in thousands of ways using your iPad or your iPhone, but of course, those will get better and better over time.
Already it’s a great way to shop, it’s a great way to learn. It enhances the learning process. I can’t wait for it to be even more important in collaboration and so forth.
So I’m AR fan number one. I think it’s that big.
AR Is Growing Rapidly
Data Source: PwC
$1.5 Trillion
By 2030, AR & VR could contribute $1.5 trillion to the global economy.
40% CAGR
2021-2025 CAGR of AR Photos / Videos per Day
More than 50%
Over half of the people want to use AR technology to evaluate products, enabling a risk-free, “try before you buy”, experience.
28% higher conversion for Retailers
3D content can increase conversion by up to 27.96% on retailer websites
Source: Mobile Marketer
Statistics on Consumers Interested in Shopping with AR
Augmented Reality (AR) is revolutionizing the way we shop. Imagine being able to try on clothes and accessories without ever leaving your home! Simply point your smartphone or tablet camera at any product and watch it come to life in 3D. You’ll be able to view the item from every angle, see how it fits, and even interact with it.
66%
of respondents say they are interested in using AR for help when shopping.
Data Source: Google Consumer AR Survey, Global, 2019
70% Users Prefer Shopping with AR
70% of consumers believe that AR can improve shopping experiences, and 61% of them prefer to shop at stores that offer AR experiences.
49% increase in L'Oréal's E-Commerce sales
L'Oreal's E-Commerce sales increased 49% in 2019, largely as a result of customers being able to experience products before they buy thanks to Augmented Reality.
Data Source: Retail Touchpoints
56% shoppers feel more confident with AR
56% of shoppers agree that AR gives them more confidence about product quality.
Source: Snap AR Global Report
Well we believe that augmented reality is one of those new mediums that could be as big as if not bigger than the web. One of the areas where consumers adopt something new is when it makes something drastically easier. When I think about augmented reality I think about instances like finding your way somewhere, finding your friends in a stadium, or going to a conference and looking around and knowing who everyone is because their LinkedIn profile is hanging over their heads.
Augmented Reality Gaming & Education Statistics
Augmented reality has revolutionized the gaming and education industry.
In the gaming industry, players can insert themselves into a virtual world where they interact with objects and characters in real-time. This provides a unique and engaging way of playing digital games that are more immersive than traditional gaming.
In the educational sector, augmented reality has transformed the way students learn. By using 3D images, interactive models, and simulations, students can explore complex topics in science, math, and history. This technology offers a hands-on approach to learning that enhances retention and motivation.
AR in gaming and education has the potential to enhance user experiences in unimaginable ways, and it is a promising sector that continues to grow as technology advances.
$11.6 Billion AR Gaming Revenue
The gaming industry accounts for the largest share of the AR market, with a projected revenue of $11.6 billion in 2024.
Changes that would make AR Gaming more interesting
Data Source: Ericsson 2019
Recent Development in AR Industry Growth
Microsoft launched its new app Microsoft Mesh
Microsoft Mesh is a mixed-reality platform that enables presence and shared experiences from anywhere through mixed reality applications. Mesh enables its users to connect with presence, share across space, and collaborate in an immersive way as if they were in person regardless of physical location.
Apple AR Glasses coming soon
The Apple Glasses are expected to launch by 2026 or 2027 at the earliest. Apple's hardware can drastically boost the adoption, investment and growth of the augmented reality industry.
What are people using AR for at home?
74%
Communication
52%
Media & Entertainment
55%
Gaming
41%
Shopping
What are some barriers slowing the adoption of Augmented Reality?
- Lack of AR content.
- The complexity and expensive nature of creating 3D-enabled AR Experiences.
- Need for a frictionless experience.
- AR content is heavy and requires faster Internet connectivity and processing power.
- Industry-wide limited enablement & engagement with the developer/creator community
How are companies using virtual and/or augmented reality technology?
- Product design and development – 38%
- Virtual assembly/improved process design – 17.3%
- Safety and manufacturing skills training – 27.6%
- Maintenance, repair, or operation of equipment – 19.4%
- Data and information access – 19.4%
- Remote collaboration – 19.4%
- Customer engagement and communications – 13.3%
- Supply chain collaboration/communications – 7.1%
- Other – 18.4%
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