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Augmented Reality Market to Reach $100 Billion by 2024

The market for augmented reality technologies will soar to $100 billion by 2024, driven by advances in interaction between the user and AR devices, according to a new forecast by market research firm ABI.

Said ABI Research Analyst Eleftheria Kouri: “Simple and intuitive UI and streamlined UX have mostly been ignored in the AR market thus far, but both are essential for enhancing and maximizing the value which will propel AR smart glasses growth toward the mainstream. Being able to remove the requirement for device training and keep users engaged with the device will maximize value for consumers and enterprises. At the same time, device features such as lower weight, capability for spatial mapping and sound, improved display quality, and better user feedback through UI and haptics also play an important role in maximizing this value.”

According to ABI: “Gaze and gesture control are considered among the most emerging interaction methods for AR smart glasses, which significantly enhances UX and immersion by allowing users to intuitively and swiftly perform hands-free tasks. While highly capable, gaze and gesture control are not suited for every user or use case because they require high accuracy and low latency to be efficient and meet user’s expectations. Advanced AR headsets such HoloLens 2 and Magic Leap 1 support a wider range of UI opportunities and input methods thanks to inclusion of things like eye tracking. While these are currently the most capable AR devices available, there is still significant value in simpler devices that maximize usability and streamline user experience with other input paradigms.”

The findings were released as part of ABI’s User Interface and User Experience in AR technology analysis report. For more information, visit abiresearch.com.

About the Author

David Nagel is the former editorial director of 1105 Media's Education Group and editor-in-chief of THE Journal, STEAM Universe, and Spaces4Learning. A 30-year publishing veteran, Nagel has led or contributed to dozens of technology, art, marketing, media, and business publications.

He can be reached at [email protected]. You can also connect with him on LinkedIn at https://www.linkedin.com/in/davidrnagel/ .


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