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162 billion in 2020, according to the IDC. More than half of the revenue will come from VR/AR hardware
sales. Additionally, service revenues are
projected to increase over the period as demand grows for enterprise-class support.
Software was also mentioned as a smaller, but notable
revenue source, growing more than 200% year-over-year (YoY) in 2016.
Nevertheless, services revenue will quickly surpass it, largely due to demand in the enterprise segment.
AR systems will ultimately contribute more revenue than VR systems.
Games and paid content will be strong sources of
revenue for
VR systems, particularly in the next two years.
 However, this revenue will be eclipsed
as AR systems are integrated into healthcare, product design and management-related
uses. Most revenue through 2020 will come from the US.
The US, Western Europe, and Asia Pacific (excluding Japan) are projected to account for three-quarters
of revenue for VR and AR. The US is projected to contribute a larger amount as time progresses.
The adoption of AR and VR headsets will be driven primarily by
the introduction of less expensive models to the market, first powered by smartphones before mainstream
adoption of stand-alone headsets.
While early adopters will drive the initial wave of purchasing, sustainable growth will likely come from
VR and AR app developers building a robust and engaging ecosystem of content that entices slower adopters.
Lastly, as the underlying technology powering these devices increases,
so too will the capabilities, creating new use cases
in entertainment, workplaces, and education.
The tech industry has promoted the prospect of VR for the past few decades.
But only now, with headsets backed by big names like Sony and Facebook,
is VR finally becoming a concrete product with mass market potential.
While VR technology is largely associated with the gaming industry, the platform offers a new set of content opportunities in entertainment,
advertising, and more. But where is it all going?
VR headset manufacturers are driving both the development
and distribution of VR content by investing significant technical and monetary resources in developers, in an effort to build up an exclusive
content library.
High demand for VR headsets by mobile and console gamers will fuel demand for
VR content. The VR content market will take an increasing portion of
the mobile gaming software industry. Beyond gaming, VR video entertainment will remain short form until demand for
VR headsets increases. Ads featured on VR headsets will likely have higher view-through rates than standard
video ad spots. Other industries are also beginning to experiment with VR content.
Travel companies, publishers, e-commerce merchants, and social platforms are beginning
to see potential in this new category. VR content
faces major hurdles that could keep developers from investing:
The VR experience must be good enough for people to
take up the devices. In addition, developers need to know that a sufficient user base exists to be worthy of
the resource investment in VR content.
Provides a breakdown of each type of VR headset,
what platforms they run on, and how content will differ for each.
Includes estimates for global VR headset shipments by category.
Includes a mobile gaming forecast to give a sense of the most important market that will drive spending on VR content in the next five years.
Lays out what other industries are developing VR programs.
Discusses some of the potential barriers that could
dissuade developers from investing in VR content. 1.
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VR.
Other trends that are currently taking shape are related to the
Internet of Things (IoT), Augmented Reality (AR), Virtual Reality (VR) and apps for wearables.
Mobile application development platforms would continue to boost ROI even with these latest developments.
People are increasingly embracing neatly packaged apps with little
icons on their smartphones. Did you know that on an average, smartphone users had
installed and accessed as many as 21 apps per month in 2016?
These figures published in a report by eMarketer underline our love for the utility and ease of use that mobile apps bring.
And while website owners complain about our short attention span while
browsing, app session activity grew 6% in 2017, according
to an article published on Flurry’s Analytics Blog. The article also mentioned that people spent over five hours a day on their smartphones in 2017, using
both new and old apps.
Trends such as this bode well for those planning on developing a mobile
app either to earn directly from it
or to use it within the company to boost productivity, sales, and customer engagement.
110 billion in 2018, says a report by App Annie.
And, this figure does not even cover the monetary benefits of app usage to
enterprises, which has also recorded an uptrend. To understand the complete benefit,
it’s important to weigh it against the cost of development.
And, costs have reduced dramatically with the use
of mobile app development platforms. Budget is the highest impact on app profitability.
MADP platforms offer businesses a significantly higher
ROI.
This is because mobile app development platforms provide access
to workflow specific modules that are already
developed, tested and ready for use. Companies simply need
to determine which processes are part of their mobility
strategy and what goals they wish to achieve. The modules being
predeveloped and readily available on MADP platforms reduces the time of
custom app development from several months to a few weeks.
Companies continuously strive to improve productivity because this has a direct impact on profitability.
Several studies have indicated that companies following
a BYOD (bring your own device) approach and encouraging workplace mobility have experienced an increase in worker productivity.
A survey conducted in 2016 by CITO Research
highlights some important trends in enterprise mobility.
As many as 91% corporate employees use mobile apps to make their work smoother.
Companies are driving app adoption because they’re aware of
the positive impact on productivity and
profitability. Among bigger enterprises, employing more
than 10K people, 45% provided apps to at least
half of their workforce. Many of these companies found app
usage beneficial even after spending huge amounts on custom development, simply
because they were unaware of the cost benefits of using MADP platforms.
The report also stated that apps were considered as tools that
improved business processes, saved time and smoothened the workflow.
There is also a distinct uptrend in the direct money-making ability
of mobile apps. The two leading verticals for enterprise
app adoption are the marketing and sales department and m-commerce.
An increase in sales has a direct impact
on revenue generation. The use of payment and banking related apps
has surged. Other than these, health, fitness and telemedicine
mobile apps are proven to be highly profitable for businesses.
The other trends that would boost the money-making capability
of mobile apps include IoT, apps for wearables, blockchain-based apps
as well as apps that support augmented reality (AR)
and virtual reality (VR). Whatever the industry or app features needed, mobile application development platforms would continue to boost
ROI. Author's Bio: Hey there, I’m Karl Parker. I’m
a mobile app developer living in Singapore.
I am a fan of technology, innovation, and web development.
I’m also interested in programming. Please Register or Login to
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