Enterprise Mixed Reality Applications to Approach 40 Million By 2022, Juniper Research Forecasts
A new study from Juniper Research has found that the number of enterprise MR (Mixed Reality) applications will approach 40 million by 2022, rising from just 6.5 million in 2018. That translates into growth of over 500 percent.
MR applications display overlaid digital objects that co-exist with the physical world, alongside the ability to interact in real time. According to the new research, “Augmented & Mixed Reality: Innovation, Disruption & Future Prospects 2018-2022”, the scalability offered by a subscription-based model will entice new enterprise customers.
Juniper Research found that 97 percent of the $6 billion app revenues in the enterprise market will emanate from this pricing model by 2022. Juniper recommends that service providers offer both Application Programming Interfaces (APIs) and hardware on subscription models or risk pricing out potential customers.
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“Focus has shifted from improving the technology and device form factors to offering the most attractive pricing models for businesses,” Research Author Sam Barker explained. “By enticing customers with attractive models now, these platforms can guard against losing potential customers who are locked in to competitors’ platforms in the future”.
Consumer Mixed Reality Apps Poised to Surge, But Challenges Remain
Meanwhile, in the consumer market, Juniper estimated that the number of consumer smart glasses apps will reach 11 million by 2022, driven by games and education. The research forecasts that games will account for over 40 percent of consumer MR app revenues by 2022.
Juniper Research noted that improvements in field-of-view, device weight, battery life and processing power would need to be prioritized if smart glasses were to achieve mass adoption. In addition, the research found that opportunities will remain limited in the consumer space owing to the fragmented nature of the OS ecosystem.
Juniper recommended that device vendors follow Vuzix’s example by leveraging the Android OS rather than utilizing proprietary systems, arguing that this will increase accessible future content by attracting developers with a higher reach for their applications.
(For more information visit https://www.juniperresearch.com).