How Augmented Reality is Going to Facilitate Business Growth?

Augmented Reality (AR) is one of the most remarkable and revolutionary changes in the business world that has gained recognition with the rising development in the growth of the gaming business. AR is basically known for creating an interactive space in the real world environment with the help of data and inputs generated through the computer. It constructs a space overlapping the real world through the interpreted inputs and data.

The use of animation and 3D imagery is a framework designed and created to enhance the technology for wider use amidst the range of applications in the business world. At the beginning of 2017, Augmented Reality portrayed its technological power in the gaming applications such as Pokemon Go, PubG, etc. However, with time, the benefits of Augmented Reality in business gained significance and are now widely being incorporated into multiple business segments ranging from the food industry to the retail industry to furniture and decor.

How Augmented Reality is Going to Facilitate Business Growth?

Advantage of the use of Augmented Reality in Business

The technology of Augmented Reality works differently. Although mostly confused with Virtual Reality, Augmented Reality has its own original roots.

  • Simplified the complexity of manuals, operational procedures, and training procedures with better and easy-to-understand visuals, animations, and imagery.
  • Rectifies and modifies the information system of information and data delivery.
  • Restructuring and management of the automated and generated data required to be delivered to the customers.
  • Usage of Animations, 3D models, and imagery to give a real-world experience to the customer.
  • Real-time interaction amidst the product or services and the customers for a rich experience.
  • Simultaneous overlapping of virtual and real-world without the need of doing so individually.
  • Efficient, Accurate, Speedy, and Improvised version of delivering data resulting in better and faster execution.
  • Helps in better decision-making with its unique technological concept.

Augmented Reality into Reshaping Businesses

Technology has always played a significant role in building, changing, and reshaping businesses. Technology and business go hand-in-hand if one aims to create a mark in the business market with its high results, profits growth, developments, and expansion. For a business to reach greater heights, there is always a need to change and remodify the business models as per the changing criteria, demands, and trends. It defines the system and operability of businesses.

The advent of Augmented Reality is a part of modern technology that has significantly helped improve the sales and condition of numerous businesses by its unique feature of superimposition of the 3D models on the real world to create an authentic space that would definitely reshape the business by giving efficient customer experience through the ability to a better decision making and reduced complex manuals.

All this has simplified the methodology on both ends— business owners and customers. The feature of Augmented Reality which made it easier for the customer to share their experience on multiple social media handles has resulted in the businesses getting leads and more prominent customers.

Services of Augmented Reality in Business

Augmented Reality is a technological system built with the incorporation of three significant components, comprising of:

  • Accurate and precise overlapping of virtuality in the real world.
  • An experience with real-time links and interactions
  • Creation of 3D imagery and animation.

The outcome of the superior blending of the above three components in Augmented Reality worked wonders and produced promising results in the diversified business range and found application in almost every business segment.

Here are a few of them to brief the widening scope of Augmented Reality:

  • Furniture & Interior Decor Business Segment

The Augmented Reality technology gives the user the power to control and design their own space using their featured products.

  • Healthcare & Wellness Business Segment

Augmented Reality technology benefits the user in describing and advising the use of medicinal products and additional precautionary techniques and operation in case of emergency.

  • Food & Restaurant Business Segment

The technology of Augmented Reality is best put to use by this business segment keeping in concern the growing challenges of the covid pandemic. It has simplified the staff training and also modified the customer experience with the power to help customers visualize  the menu and dishes

  • Beauty & Hair Care Business Segment

A spiking rise in the sales of beauty and hair care products is a brilliant outcome of augmented reality technology. It helps in enriching the customer experience by showcasing the application of the products more simply.

  • Fashion Business Segment

Augmented Reality in Fashion Business

The use of animations and 3D imagery has made it easier for users to create their own fashion style statements. It gives each user the access to mix and blend from amongst the products delivered by a brand.

  • Retail Business Segment

It has made retail shopping a lot more simplified by allowing the user access to view the products in a 3D space. This has resulted in better product display and a high customer approach

  • Education Business Segment

Augmented Reality has brought a massive change in the Educational system by modifying the complete atmosphere of the educational methodology. It has simplified and streamlined the learning process by investing in real-world experience.

  • Tourism & Travel Business Segment

Tourism & Travel is one such business segment that needs a lot of show business to gain customers. The birth of Augmented Reality technology is a boon to this business segment as it provides real-world experience to the customer.

Need of Augmented Reality Strategy for Businesses

With numerous advantages on the plank of Augmented Reality, it is wiser to inculcate the concept and strategy in the business models. To gain profits or rapid development and expansion, every organization needs to have an Augmented Reality strategy. However, it is the uniqueness and creativity that drive the masses. Augmented Reality is a game-changing business tool that could work wonders if strategically planned, designed, and executed.

Augmented Reality, like Virtual Reality, does not require a specific set of devices for its accessibility. It can be operated on any device. This feature has driven business firms to opt for Augmented Reality to boost their growth and establish recognition in the market.

According to data and reports from Statista, Forbes, and other recognised institutes, it is estimated that there has been a remarkable rise of 300-400 Million smartphone users. This probably furnishes the business firms an opportunity to grow and expand knowing the perk of Augmented Reality being accessible on all devices. This strengthens the need for Augmented Reality into business.

To reap greater benefits from Augmented Reality, it should be well understood that this is a lengthy process of learning and adapting to different situations. The one who fits the best and puts the resources to better use is destined to rule. Additional features like the share & export require special emphasis if one wants to build a high customer base. This would also ease the promotional process of the brand.

Augmented Reality technology has definitely expanded its scope of application and the rising end profit results from its use have turned the entire market in its favor. Hence, Augmented Reality technology is gaining acceptance in the business world remarkably.

Every business focuses on creating a unique business model that appeals to customers and gains them high-end growth and Augmented Reality has undoubtedly proven itself to be a key player in the frontline of businesses,  hence, facilitating phenomenal business growth.

Derrick J. Abraham

Derrick J. Abraham is a business consultant at FranchiseBazar, who specializes in Franchise Business. Along with the success of 5 years, I believe in updating my knowledge and look forward to new opportunities around me. He has assisted several young entrepreneurs to start their dream businesses. Apart from this, Derrick enjoys Baseball and biking.

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