Michael Boreham From Futuresource Consulting: AR/MR On Mobiles, The Next Main Platforms

According to Futuresource Consulting’s most recent tracking report on augmented reality (AR) and mixed reality (RM) in mobile, both technologies present many opportunities for their improved application and new monetization. “Although the mobile AR/MR proposition is very much in its infancy today, the end-game is clear for Facebook, Apple, Google, SnapChat, Microsoft et al” says Michael Boreham, Market Analyst at the consulting company.Boreham believes AR/MR can be considered the next main platforms, offering a revolutionary technological leap that has the potential to evolve and enhance our digital interaction across industries such as communication, utilities, entertainment, and e-commerce.2017 has an increasing amount of activity in both technologies, with an increasing number of big companies betting on these interfaces. The consumption value of both in the market reached US$1.7 billion in 2016, topped by Snapchat and Pokémon Go. But according to the report, the market overinflated as a result of the rapid short-term success and subsequent loss of momentum of Pokémon Go and expects market contraction to US$1.4 billion at the end of 2017.However, the longer-term outlook indicates a 77% annual growth rate between 2017 and 2021, with mobile AR/MR reaching US$14.1 billion market valuation by the end of 2021. Here, social media networks will play an important role, but it will depend on their ability to innovate. The key challenge is to develop applications that will drive consumer adoption.