18% increase in VR/AR sales

keep a close eye on emerging technologies

This is the third of 5 thoughts addressing social trends in Australia. To avoid repetition, I have avoided trends associated with social media, content marketing, and digital marketing to focus on interesting trends that many may not be aware of.US research completed in 2018 suggests that expenditure on virtual reality and augmented reality technology will increase by 18% in the year ahead. Unit sales are predicted to increase by 25% in the next 12 months, while the total US AR/VR device market is currently valued at US$1.8 billion.Segments driving sales growth are reported as follows:

  • Consumer hardware   15.6%
  • Virtual reality games   6.6%
  • Augmented reality games   5.1%
  • Onsite assemblies   3.1%
  • Retail showcasing   2.9%

This highlights the potential for sales growth in these areas. It also points to the increasing popularity of VR and VR gaming. It even suggests good times ahead for start ups in the VR and AR sector.

Investment levels in the areas of VR and AR in the United States are estimated below:

  • Games     59%
  • Education     26%
  • Health     26%
  • Real Estate     21%
  • Marketing     19%
The last of these is of particular interest to me. Examples of applications in marketing for this technology include:
  • McDonalds VR Happy Goggles
  • De Beers Augmented Reality Diamonds
  • Casa Coca Cola VR Experience
  • The Ikea Virtual Reality Experience
  • Marriott’s Teleporter
Research suggests that VR and AR technologies will be used more and more in marketing for delivering:
  • Games and competitions
  • Enhanced customer experiences
  • Experiential advertising

It is interesting to note that one study found that 71% of consumers believed that a brand using VR is ‘forward thinking’ and 62% of consumers believe VR engages them more with the brand.

In 2018, keep a close eye on emerging technologies

Every year – put the facts ahead of intuition and guesswork.

Core sources of statistics – n-insights, ABS, Integrate, M, We Are Social, Eventbright, McCrindle, AR Pos, HBR, and Deloitte,

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