Augmented Reality: Marketing's Trillion-Dollar Opportunity
Posted in: UncategorizedAs traditional revenues from television advertising are beginning to erode, a new trillion-dollar industry is emerging that mandates brands be omnipresent. Within this decade, augmented reality is going to change the way the always-connected consumer works, shops and plays. Once contextual marketing seamlessly transitions to commerce, it will be trusted brandsand the savvy marketers who manage themthat help consumers augment their world with tailored experiences to enhance their daily lives.
Last year, American adults set new records of media consumption by ingesting 10 hours and 39 minutes of media per day. As pervasive as media is today, new technologies are seeking ways to connect and empower consumers continuously throughout their 17.2 waking hours per day. According to Citi GPS, digital reality is quickly growing into a new trillion-dollar market with annual revenues of $692 billion expected by 2025.
Most people believe augmented reality means adding something to the real world that isn’t there. (Think of the millions of players who spent over $1 billion collecting Pokmon Go eggs on their phones). But just as much opportunity can be found in using AR to subtract items from view and help consumers focus on specific retail products lost in the panoply of visual clutter.
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