Augmented reality (AR) describes an interactive, three-dimensional experience combining the real world with computer-generated elements. Another way to think of augmented reality is that the technology is an enhanced version of the real physical world. This enhancement is driven by computer-generated perceptual information across multiple modalities, including visual, auditory, haptic, and even olfactory.
Augmented reality devices began to emerge in the 1960s and 70s, with the first wearable technology released in 1980. The ARindustry is finally exploding by the 2020s, thus transforming into a multi-billion dollar industry.
ScienceSoft is a company with over 16 years of experience in augmented reality and 25 years in 3D visualization and analysissoftware, particularly in the oil and gas industry.
ScienceSoft AR apps can scan real-life surroundings with a camera lens and translate the data into a depth map for realistic 3D model placement. The app can also be trained to recognize specific two-dimensional images and three-dimensional real-life objects.
The company’s augmented reality products are also used by trainee doctors to simulate various medical procedures. What’s more, retail businesses use the technology to create virtual fitting rooms, catalogs, or entire virtual supermarkets.
Niantic
Niantic is a self-described leader in augmented reality.
Niantic’s real-world ARplatform Niantic Lightship claims to be able to accommodate hundreds of millions of users and manages shared state, communication, security, mapping, and other AR functionality.
Apple
Apple is the world’s largest augmented reality platform, with hundreds of millions of AR-enabled devices and thousands of apps.
Some of the various ways the company is utilizing AR include:
Complete Anatomy – using a combination of LiDAR and Motion Capture, physiotherapists and their patients will be able to use AR to assist in mobility improvements during injury recovery.
Snapchat – perhaps the most mainstream use of augmented reality can be seen in the social networking app Snapchat. Using the LiDAR scanner on the iPhone, users can transform their space into a magical forest and have vines growing up their interior walls.
iScape – an app that helps visualize landscape design ideas for outdoor living.
JigSpace – for individuals who must know how everything works, JigSpace lets them learn about the inner workings of jet engines, coral reefs, and everything in between.
Lucyd
Lucyd is a company merging augmented reality with blockchain, releasing a portable line of ARsmart glasses in 2017.
The glasses rely on the company’s Lucyd Lab AR blockchain, with users having the opportunity to create content and apps in exchange for LCD coins – the company’s proprietary cryptocurrency.
Some of the core features of the glasses include a front camera, eye tracking, a built-in microphone, wireless charging, and Bluetooth connectivity.
Zappar
Zappar is the world’s leading augmented reality and creative studio with a focus on helping clients develop AR and WebAR strategies.
Specifically, the company uses award-winning SDKs, computer vision libraries, AR creative tools, CMS, and data dashboards to develop and deploy ARmarketing content. Zappar also provides training on designing and developing augmented reality products.
Key takeaways:
Augmented reality (AR) describes an interactive, three-dimensional experience combining the real world with computer-generated elements. ScienceSoft scans real-life surroundings with a camera lens and translates the data into a realistic 3D model placement. The company also sells technology to trainee medical professionals and retailers, among other things.
Lucyd is a company merging augmented reality glasses with blockchain, while Zappar is a creative studio with a focus on using AR to drive brand awareness. The latter also provides training on designing and developing augmented reality experiences.
Aspect
Description
Advantages
Drawbacks
Examples
AR Hardware
Some AR companies focus on developing and selling hardware devices that enable AR experiences, such as AR glasses or headsets. These devices are designed for consumers, professionals, or enterprise use cases.
– Revenue from hardware sales: Selling AR devices can provide a significant source of revenue. – Immersive experiences: High-quality hardware can offer immersive AR experiences. – Professional and enterprise applications: AR hardware can be tailored for use in industries like healthcare, manufacturing, or education.
– High development costs: Developing AR hardware can be capital-intensive. – Competition: The AR hardware market is competitive, with established players like Microsoft and newcomers entering the space. – Adoption challenges: Widespread consumer adoption may take time due to cost, design, or use-case limitations. – Hardware limitations: Keeping devices lightweight, comfortable, and affordable while maintaining performance can be challenging.
Magic Leap, Microsoft HoloLens, Vuzix
AR Software and Platforms
Many AR companies focus on developing software and platforms that enable AR content creation, development, and deployment. These platforms may target developers, businesses, or consumers interested in creating or using AR applications.
– Diverse user base: AR software and platforms can cater to a wide range of users, including developers, businesses, and consumers. – Scalable business model: Licensing or subscription fees can provide scalable revenue. – Customization: Offering tools for AR content creation and development allows users to tailor experiences to their needs.
– Market competition: AR software and platform providers face competition from established tech giants and startups. – Rapid technology evolution: Keeping up with advancements in AR technology is essential. – Adoption challenges: Encouraging users to embrace AR development or consumption can be challenging. – Developer ecosystem: Building a thriving developer ecosystem is critical for platform success.
Unity Technologies, PTC (Vuforia), ZapWorks
AR Content Creation
Some AR companies focus on creating AR content, such as apps, games, or experiences, that users can enjoy on AR-enabled devices. These companies may develop content for entertainment, education, marketing, or other purposes.
– Creative opportunities: AR content creators have the freedom to develop unique and innovative experiences. – Revenue from content sales: Selling AR apps or experiences can generate revenue. – Brand engagement: AR can be used for marketing campaigns, increasing brand engagement. – Entertainment and education: AR content can entertain and educate users in various ways.
– Content discovery: Getting users to discover and download AR content can be challenging. – Market competition: The app stores are crowded, making it challenging to stand out. – Content quality: Maintaining high-quality AR experiences is essential for user satisfaction. – Development costs: Creating compelling AR content can be resource-intensive.
Pokemon GO, Snapchat, IKEA Place
AR Advertising and Marketing
AR companies in this category focus on offering AR solutions for advertising and marketing purposes. They create AR campaigns, tools, or platforms that allow brands and businesses to engage with consumers through augmented reality experiences.
– Engaging marketing campaigns: AR can create interactive and memorable marketing experiences. – Brand exposure: AR advertising can attract attention and increase brand exposure. – Data and analytics: AR marketing can provide valuable user engagement data and insights. – Innovation: AR allows brands to demonstrate innovation and creativity in their campaigns.
– Adoption challenges: Encouraging brands to adopt AR advertising may require education and demonstration of ROI. – Privacy concerns: Collecting user data for AR advertising should be done transparently and with user consent. – Technical complexity: Developing AR marketing campaigns can be technically challenging and requires specialized skills. – Competition: Brands have many advertising options, and AR is just one of them.
Snapchat AR Ads, Zappar, Blippar
AR Navigation and Visualization
AR companies may focus on developing AR solutions for navigation, wayfinding, or data visualization purposes. These solutions are often used in industries like automotive, aviation, real estate, and urban planning to provide users with augmented information and guidance.
– Enhanced situational awareness: AR navigation and visualization tools can improve users’ understanding of their surroundings. – Safety benefits: AR can enhance safety in industries like aviation, where pilots can receive critical data in real-time. – Professional applications: AR solutions are used in professional and industrial contexts, creating business opportunities. – Data-driven decisions: AR can help users make informed decisions based on real-time data.
– Specialized markets: Targeting industries with specific AR needs may limit the addressable market. – Development complexity: Building accurate AR navigation and visualization solutions can be complex. – Integration challenges: Integrating AR solutions into existing systems or workflows may require effort and resources. – Regulation and standards: Some industries have strict regulations for AR use, requiring compliance.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
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