26th December, 2020 | 6 min read

10 Augmented Reality Statistics You Should
Know in 2020

Posted by mirrAR by SDM

The growth of augmented reality (AR) applications in recent years can be attributed to solutions that allow consumers to visualize products and imagine what it might feel like to own the product or experience the service before actually purchasing it. As augmented technology becomes more sophisticated and the cost-saving and business applications expand, the demand and investment in AR will increase. There are a few key advantages to augmented reality, but one of the most important is usability. True AR interfaces provide an intuitive and elegant user experience for a variety of services and technologies.

Here are 10 augmented reality statistics that you should know before wrapping up 2020:

64% of marketers are already using or expecting to use AR and VR in the near future. As people increasingly expect personalization, marketers must be able to reach consumers and deliver on these expectations. This can be achieved by implementing augmented reality technology to customize preferences and on-demand services for each individual customer.

61% of consumers prefer retailers that incorporate AR experiences: Customers want to know that the products they buy can meet their needs. In the jewellery industry, India’s first augmented reality platform MirrAR, allows customers to try on different jewellery designs and know how the product fits, feels, and explores the intricacies of unique designs at their convenience. Having this power at their customer’s fingertips with AR means that retailers can see a decrease in returns.

40%  higher conversion rates with AR: Grow your conversions with AR Using 3D technologies in your online shopping experience can increase your conversion rates by up to 40% as your customers can experience what it feels like to own the product without buying it first.

2.4 billion total AR users worldwide by 2023: By 2023, there will be an estimated 2.4 billion mobile augmented reality (AR) users worldwide, an increase of 2.2 billion from the 200 million in 2015. Tim Cook said that interacting with AR will become a daily activity. As people become more comfortable using AR, retailers will have to innovate and keep up with how the market is changing.

40% of consumers say they would pay more for convenience: Online retail accounts for 11% of all retail sales. When customers shop in-store, they’re able to see, touch, and feel your product selection. Customers that are shopping online, however, can experience how a product will appear in their house, on their kitchen counter, or on their self using AR. For online retail, that means higher margins on existing spending and higher quality, “hands-on” experience for customers.

70% of consumers 16 to 44 years old are aware of AR: 70% of consumers between ages 16 and 44 are . What’s impressive about this figure is that AR has just become available to most consumers only a few years ago. We’re seeing an adoption rate that is allusive to the early days of e-commerce.

58.3 % of people have a lack of understanding of AR: A lack of identification of the advantages of Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR) is a major drawback in businesses integrating these technologies with their companies. The runner up statistic showed that the lack of proof on ROI (Return on Investment) is the second reason they are not integrating.

35% of the work time augmented in the health industry: The business services industry was only able to manage 16% shockingly. The opportunity of this technology was more strongly felt in sectors such as healthcare, manufacturing, and construction. Given the current pandemic, any boost for healthcare is a big win! 

100 million consumers will use AR to shop in 2020: Gartner estimates that over 100 million consumers will use AR to shop in 2020. In a traditional retail space, if 100 million people walked through the store, most would have a similar shopping experience. With AR, retailers can customize how each user experiences a product. With targeted offerings in the retail space, AR shoppers will be able to have a more impactful, personalized shopping experience.

80% of end-users spend more than 1 full minute within each published WebAR experience. Furthermore, according to data, 50% of users spend greater than 2 minutes interacting within a single WebAR activation.

Get more information about MirrAR or write to us at mirrar@styledotme.com for more information. 

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