A recent article on Tech Vibes addresses that, despite an increase in the awareness of Augmented Reality technology this year, adoption rates are still low for the enterprises. The information presented in the article is from a new study by ISACA, global business technology and cybersecurity association.
Significant points from the study include:

• In North America, 15% of IT professionals believe that the benefits of AR outweigh the risks
• AR leads to: better collaboration, increased efficiency, better marketing, and new business models / offerings
• The main issues with adopting AR are: insufficient ROI, insufficient budget, security concerns, and lack of skills / knowledge
• 38% of companies have no plans to utilise AR within a year
• 69% of US respondents believe that using AR in workplace training could make their jobs easier to do, and 69% also believe training guides using AR could be useful in everyday life
• Christos Dimitriadis, Ph.D, chair of ISACA’s Board of Directors, is quoted to have said that enterprises should apply sound measures around security and risk management so that they can focus on the benefits of AR and other advanced technology

The AREA can help with the integration of AR in the enterprise by providing companies with the support they need to assess, plan, and manage their AR projects. See our membership page for more information or browse our website for the wealth of free information and resources available.

Last week, MS Power User posted an article discussing General Electric’s use of the Microsoft Hololens, which was announced at the recent 2016 GE Minds and Machines conference. The technology is being used to help the company service equipment which is malfunctioning, for example, industrial steam turbines.

GE uses a technology device called “digital twins”; these are virtual duplications of machines, but with an added data overlay including information such as potential parts breakdowns. These can use operational data to determine which parts require a service. Consumers can address the digital twin by asking it questions about potential issues, and it will reply with answers.

The vice president of GE Software Research, Colin Parris, has said that the Hololens has a wide range of applications such as factory design, and can also help to train workers to repair and assemble parts without physically being on the plant floor.

Two recent articles on SAT Press Releases discuss two different research reports involving analysis of the smart glass market and the wearable technology market respectively.
‘Smart Glass Market for Construction, Mining, and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021’ was released by Zion Market Research, which includes:

• In 2015, the global demand for the smart glass market was valued at $2.1 billion. This is expected to increase to $6.56 billion by 2021, and grow at a compound annual growth rate of over 19% from 2016 to 2021.
• Drivers for the market include: increased demand for energy efficient and eco-friendly products, government support, and large investment for innovative products in the automobile industry.
• Challenges of the market include: limited commercialisation and inadequate awareness.
• Smart glasses reduce maintenance cost and cost efficiency.
• North America is the largest market in terms of smart glass production and consumption, although is it predicted that Europe will have significant growth from 2016 to 2021. China also has high growth due to advanced tech and government support.

‘Wearable Technology Market – Top Players (Medtronic, Adidas, Nike, Abbott, Eurotech, Sony, Suunto, Google); Worldwide Scenario, Trends, Manufacturing Future Estimate 2024’ was released by Transparency Market Research, which includes:

• In 2012, the global wearable technology market was worth $750 million. This is expected to reach $5.8 billion by 2018, making a compound annual growth rate of 40.8%.
• The market is categorised into: fitness and wellness, the infotainment sector, the healthcare and medical sector, and the industrial and military category, all of which are further subcategorised.
• In 2012, the medical and healthcare sector had a 35.1% share of the market.
• The healthcare sector was the largest user of wearables, followed by fitness and wellness.
• North America is the leading region due to tech awareness, affluence, and health-consciousness in the population; it is predicted to have a 43% share by 2019.

Recently, some new market reports have been released concerning Augmented Reality and Smart Glasses markets. Three have been rounded up here:

The first report was by Zion Market Research, which included:

• Augmented Reality (Sensor, Display and Software) Market for Aerospace & Defense, Industrial, Consumer, Commercial, E-Commerce, Retail and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021’
• In 2015, global demand for the AR market was valued at approximately $3.33 billion
• It is predicted that the AR market global demand will reach around $133.78 billion in 2021
• This means the global demand for the AR market will increase at a compound annual growth rate of over 85.2% from 2016 to 2021

The second report was by Future Market Insights, which included:

• ‘Smart Glass Market: Global Industry Analysis and Opportunity Assessment 2015-2025’
• The global smart glasses market is expected to grow significantly up to 2025
• Driving factors for the market include: increased adoption of ‘green’ initiatives (e.g. eco-friendly buildings), and increased demand for smart tech in the automobile and aviation industries

The third report was by 360 Market Updates, which included:

• ‘Global Smart Glasses Market 2016 – 2020’
• The smart glasses market is predicted to increase at a compound annual growth rate of 19.88% from 2016 to 2020
• Market drivers include: increased awareness of AR tech, increased developer interest, and proliferation of AR mobile applications

A recent article on Consumer Electronics Net discusses the Augmented Reality Market Analysis to 2024 report by Grand View Research that has been released.
Significant points from the report include:

• The global AR market is predicted to reach $100.24 billion by 2024
• The hardware segment is expected to increase at a compound annual growth rate (CAGR) of more than 90% by 2024
• The software segment is expected to increase at a CAGR of more than 55% from 2016 to 2024
• The head-mounted display segment is predicted to increase at a CAGR of almost 70% from 2016 to 2024, dominating the market
• It is anticipated that smart glasses adoption by consumers will significantly increase
• The automotive segment is expected to grow at a CAGR of more than 70% by 2024
• In the automotive sector, virtual technology is being utilised more and more due to increased model and equipment variants in design and development of vehicles
• Volkswagen have used AR to save time and cost in product development; virtual data is overlaid onto design models so that components can be analysed

The AR market in Asia Pacific is predicted to reach more than $44.30 billion by 2024, and China is expected to drive regional growth due to increased AR devices and mobile apps adoption.

Engineering firm Costain has announcement that they will be using Augmented Reality to assess radioactive pipelines. EDF Energy has chosen the company to participate in an innovation project, which involves building a miniature infrared pipe camera which uses AR to check for damage.

The technology was developed as part of a challenge from EDF and Innovate UK, sponsored by the Department for Business, Energy and Industrial Strategy. It was designed to detect cracks in pipelines that are over 40 years old; images of the pipes are overlaid using AR to give an indication of the extent of damage.

The EDF account manager at Costain, Loretta Brown, is quoted to have said that merging technology with innovation in the energy industry will increase efficiency and reduce costs. It is thought that millions will be saved. The nuclear business development director at Costain, Tony Davies, is also quoted to have said that the technology will have a long-term impact on EDF.

A summary of this announcement can be read on Energy Voice.

Earlier this week, an article on IoT Agenda focuses on how Augmented Reality technology is being utilized in areas of the enterprise such as maintenance, field service, and marketing.
Significant points mentioned in the article include:

• AR technology provides essential information to workers that improves productivity, delivers optimal maintenance, and streamlines customer interactions
• The increase of AR is mostly due to the rise of smartphones, smart sensors, and improved 3D graphics
• According to Digi-Capital, ARVR revenues is expected to reach $120 billion by 2020, $90 billion of which will come from AR applications
• A PWC report has claimed that AR is on the increase due to field workers requiring hands-free devices that provide information such as instructions, charts, schematics, lists, etc., which enables them to diagnose problems and repair equipment remotely
• Currently, the main use of AR applications is in marketing
• Jay Wright, the president and general manager at Vuforia, is quoted to have said that AR is a valuable selling tool for both industrial and consumer products
• However, AR applications are also very useful for training and maintenance in the enterprise
• AR can provide real-time data, instructions, and blueprints on the plant floor; this enables workers to address downtime issues
• AR devices also allow remote communication between engineers and plant floor workers
• AR improves efficiency and makes a safer environment for warehouse workers
• The technology can direct workers to the correct location, and facilitate packing and shipping
• Lisa Woodley, vice president of experience design at NTT Data, has said that AR can also potentially be used for quality and inspection

A recent article on SearchCIO discusses how Augmented and Virtual Reality devices are transforming the workplace and production.
Important points in the article include:

• Black and Veatch have begun using Microsoft HoloLens to view data on the infrastructure being analysed, and have identified various potential uses for the technology
• ARVR technology is expected to drive productivity and improve quality to bring significant ROIs to companies
• In the manufacturing industry, AR tech provides workers with information and instructions that is layered onto the physical workspace, so they device is hands-free
• Engineering and construction companies also use AR in a similar way; it also enables remote expertise as professionals can remotely guide employees
• International Data Corp. have predicted that ARVR worldwide revenues will increase by at least $156.8 billion from 2016 to 2020
• AR is currently more applicable than VR
• Forrester Research has also predicted that AR tech will become commonplace in the next five years
• Accenture Digital have designed and built an AR application that allows consumers to choose different colours for a car using a tablet and view it in the physical space before them
• Ford Motor Co. has been working with ARVR tech since 1999, which it uses to solve ergonomic issues and review engineering and design specs
• Companies can work with different tech organisations for software and hardware relevant to ARVR applications
• IT departments still need to develop content to feed into ARVR systems and create integration
• Black and Veatch found that using mobile version of applications is better in an AR environment because the content is designed for smaller screens
• As ARVR enterprise tools are merging with other new tech such as artificial intelligence, more specialist skills will be required

Security concerns prove to be at the top of the list of barriers to AR adoption, according to research from global business technology and cybersecurity association ISACA. infosecurity-magazine.com reported such findings in an article earlier this week, writing that only 21% of the 6600 business and technology professionals surveyed believe that the benefits of Augmented Reality outweigh the potential risks. Rob Clyde, board director of ISACA and executive advisor at BullGuard Software, says these numbers are expected to change in the very near future, “as businesses begin to view AR as a valuable technology that can deliver positive business outcomes, such as improving training, education, marketing and customer experience”.

Although the survey findings display concerns for the risks associated with AR technology, more of which can be found in the original article, ISACA provides recommendations to help organizations overcome potential security-related barriers of AR. Businesses can update their policies to accommodate AR, along with reviewing their governance framework. Incorporating the use of AR as part of the business into organizational policies and procedures is absolutely crucial to stay secure, including bring your own device. Security is required in every part of the process to ensure confidence in the data being used, the article states.

For detailed information on Augmented Reality in the Enterprise, including overcoming barriers to adoption, see our Webinar.

Readers may be interested in a research report released last week. The report was released by WiseGuyReports, analyzing the global Augmented and Virtual Reality market for the healthcare industry. The market is predicted to grow at a compound annual growth rate of 17.2% from 2016 to 2022. Application, product, technology, and end user were all analysed.

The report involves:

• Market trends (including drivers, challenges, threats, and opportunities)
• Market forecast for a minimum of 7 years
• Market share analysis of key industry players
• Market share assessments for regional and country level segments
• Strategic recommendations for new entrants
• Strategic recommendations in key business segments based on market estimations
• Company profiling
• Competitive landscape
• Supply chain trends

Applications covered in the report include:

• Education
• Diagnostics
• Medical training
• Patient care management
• Fitness management
• Surgical and diagnostic imaging

Products covered in the report are:

• AR displays, sensors, input devices, semiconductor components
• VR semiconductor components, devices, sensors

Technology covered in the report is:

• Wearable AR system
• Mobile device-based AR system
• Vision-based AR system
• Spatial AR system
• Semi-immersive, fully-immersive, non-immersive VR systems

End users covered in the report include:

• Hospitals and clinics
• Pharmaceutical and biotechnology companies
• Government agencies
• Research laboratories

Regions covered in the report include:

• US (North America, Mexico, Canada)
• Europe (Germany, France, Italy, UK, Spain, Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, New Zealand, Rest of Asia Pacific)
• Rest of the World (Middle East, Brazil, Argentina, South Africa, Egypt)

Key industry players mentioned in the report include:

• Siemens Healthcare
• Philips Healthcare
• Foursquare Labs, Inc.
• Vuzix Corp
• Medtronic
• WorldViz
• Oculus VR, LLC

A request for a sample report can be read at the following link.