New Study Projects Mobile AR Revenue to Reach $21 Billion by 2024
ARtillery Intelligence publishes five-year outlook for Mobile AR and its revenue subcategories.
Enterprise productivity is the leading revenue category in 2020 ($2.58 billion), followed by AR advertising ($1.41 billion) and consumer in-app purchases ($1.38 billion). The latter comes mostly from player spending in Pokémon Go. Advertising will be the leading mobile AR revenue category by 2024 ($8.02 billion) as brands continue to recognize AR's ability to demonstrate products in visually immersive and conversion-boosting ways. AR commerce-enablement software will be driven by similar factors.
"Several of these mobile AR revenue categories represent what we call AR as a Service, which are SaaS like AR offerings that enable companies to build AR experiences,"
As is the case across the global economy, mobile AR sub-sectors will be impacted unevenly by the ongoing COVID-19 global pandemic. Given that software and digital products fare well in global lockdowns, the impact on mobile AR will be mostly positive. For example, quarantine-friendly consumer AR like social lenses are trending up; and social distancing compels enterprise remote-AR support.
"Covid-era dynamics will have a net-positive impact as sheltered-in entertainment, visually-enhanced shopping and socially-distanced productivity play to AR's strengths," said Boland. "This means that Covid-pressured adoption in the near term could expose the technology, thereby accelerating its longer-term sustained adoption."
Mobile AR Global Revenue Forecast is available to ARtillery PRO subscribers. More details can be seen at https://artillry.co/
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