As the calendar year comes to a close, I’d like to reflect on some of the major milestones in the augmented reality space.
Industry growth…and buckle up
2019 continually felt like a time where we’re past the tipping point for enterprise AR: businesses across a broad range of industries are using AR to improve their bottom lines. Companies are using AR to make company IP more accessible; to connect experts to the service technicians, through digital overlays, and real-time video-sharing; and to eliminate down time in manufacturing equipment service scenarios.
In 2019, industry analysts demonstrated that AR adoption continues to build momentum — and quickly. Gartner moved AR out of the trough of disillusionment on its hype cycle, now deeming it a mature technology. ARtillery predicted that global AR investments and sales will grow tenfold, from just under $2 billion in 2018 to more than $27 billion in 2023 — an intense growth curve that will see enterprise AR grow by a 81 percent compound annual growth rate. And IDC issued a report that similarly predicts $18.8 billion in AR by 2020, driven largely by use in manufacturing and retail sectors.
Major moves at Scope AR
At Scope AR, 2019 saw platform improvements and business advances that help us bring AR solutions to a broader range of businesses and industries. In March, we closed a round of Series A funding that press noted was among the largest investments in the AR space for the year. We’re continuing to accelerate our growth and development.
In late May, we launched the newest and best version of WorkLink, our AR knowledge platform. SiliconAngle noted that “The upgrades to WorkLink add the ability to capture and retain knowledge through recorded sessions that can be played back in the future. This can be useful for types of work that are rote and repetitive, thus meaning the recorded experience of one worker can be useful to another in the same situation and perhaps with the same equipment.”
Earlier this month, we announced we were acquiring WakingApp, the Tel Aviv-based AR studio. Together, our expanded team will continue to advance WorkLink, delivering new features and experiences. Press coverage took note that with the acquisition, we also announced that Scope AR’s revenue doubled in 2019. To me, some of the best Scope-related stories this year weren’t about us — they were about our customers. We love to see how enterprises are using Scope AR’s platform in innovative ways that deliver ROI. Check out stories about Lockheed Martin, Unilever, and Prince Castle.
2020 holds a lot of promise for augmented reality — check out some of my predictions. We’ll see major industry moves and deeper integration at blue-chip enterprises, and more innovative use cases around knowledge sharing. And if you’re exploring how to set up your business for AR success in the new year, check out our new, free eBook, “Quick Guide to AR ROI: 4 Essentials for Proving the Value of Your Next AR Project.”