In 2023, according to Gartner, 110 million people will use AR at least once per month in the United States, which demonstrates the increased consumer interest in Augmented Reality.
The global AR and VR market is expected to grow to $209 billion by the end of this year (2022), with a particular interest from Gen Z; 92% of Gen Z are ready to use AR tools for e-commerce.Today, AR and VR is most beneficial ways brands can draw new customers, increase sales, reduce the number of product returns, and build customer loyalty.
In fact, according to Shopify, AR doubles conversion rates and 40% of GenZ and Millenials stated that AR increases their likelihood of making a purchase.Considering the enourmous new opportunity presented by AR and the metaverse ($5 trillion in value by 2030), Brands are looking for experienced technology companies to help them navigate these new technologies.
As Meta, Google, and Apple (MGA) launch their AR devices, there will be a need for two elements. First, persistent AR objects allow AR glasses users to have a unique and remarkable experience, anywhere and anytime. Second, an interoperable platform that allows the same AR objects to be enjoyed regardless if you’re using AR devices from MGA. That is where Gallery Arc is moving to capture the white space.