New Study Projects Headworn AR Revenue to Reach $13.4 Billion by 2024
ARtillery Intelligence publishes its five-year outlook for head-worn AR revenues.
Enterprise spending holds a commanding revenue share of AR glasses spending with a projected $1.33 billion in 2020, compared with consumer spending of $22.1 million. These totals consist of both hardware and software. Enterprise spending dominance is due to productivity gains demonstrated in industrial settings, where AR's line-of-sight guidance boosts speed to task-completion and error reduction. Consumer AR meanwhile trails in revenue, as the technology isn't yet stylistically viable for consumer markets – a factor that could flip with Apple's projected market entrance.
"Apple's AR glasses released in the 2022 timeframe could create a classic Apple halo effect by boosting consumer awareness and demand for AR glasses," said ARtillery Intelligence Chief Analyst, Mike Boland. "Rather than the common graphically-
As is the case across the global economy, AR glasses revenues will be impacted by the ongoing COVID-19 global pandemic. Given that the consumer AR glasses market is so small to begin with, it will be minimally impacted. Enterprise markets could meanwhile suffer to some degree due to recessionary spending as well as supply-chain impediments. However, enterprise AR use cases support COVID-era demand signals, potentially offsetting those losses.
"Certain flavors of enterprise AR like remote assistance and guided maintenance align with social distancing requirements in field-work and industrial settings," said Boland. "This could mean that COVID-pressured adoption exposes the technology in ways that lead to new habits for enterprises that sustain into the post-COVID era of semi-remote work."
Mobile AR Global Revenue Forecast is available to ARtillery PRO subscribers. More details can be seen at https://artillry.co/
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