Two years ago, in the week leading up to Black Friday, I kept getting notifications from the Amazon app on my phone.
The notifications were all advertising its “View in Room” feature.
It allowed you to pick a product and use your phone’s camera to see what it would look like in the room of your choice.
It was amazing because you didn’t have to break out the tape measure to see if it would fit in an area.
And you didn’t have to close your eyes and imagine what it would look like in that space.
This year on Black Friday, I found that same feature offered by many retailers.
But that’s just the beginning.
These features are going to be everywhere in 2022.
AR Is The Future of Marketing
The ability to view something in your space before buying it is just one use of this technology.
Several companies have already found innovative uses for augmented reality (AR):
Kia has a virtual showroom accessible through virtual reality (VR) headsets. It allows you to walk around and view its cars as though you were there in person.
Converse lets you aim your phone’s camera at your foot to try out different shoe styles. That way you can find the one that best suits you.
L’Oreal’s AR uses your selfie camera to let you try on different makeup. Then you can find the right shades and colors that match your skin tone.
AR makes sense for businesses like these.
It allows them to improve their e-commerce by better showcasing their products.
And customers feel more secure in their purchases because they have had a chance to “try before you buy.”
A report by e-Marketer predicts that nearly a third of Americans will use AR in 2022.
Another report from e-Marketer found that 20% of U.S. retailers are investing in or expect to invest in AR and VR.
But I think these estimates are conservative considering the major catalysts at play in the coming year:
COVID-19 and its variants have forced retailers to embrace e-commerce like never before. But if they want to improve customer satisfaction, they have to offer something comparable to an in-store experience. AR can help bridge this gap.
The 5G rollout is still underway and will greatly improve AR experiences. AR tends to require a lot of bandwidth and will work best with fast connections. This has the potential to transform AR experiences on smartphones.
Facebook’s pivot to the metaverse will accelerate the development of AR and VR technologies. In 2022 the metaverse will act as a conduit for marketing and advertising activities.
Invest in the Metaverse Now
Grand View Research expects the AR market to grow from $25 billion this year to $36 billion in 2022.
Considering this research came out before the metaverse frenzy, I think this is way too conservative an estimate.
I believe this market will easily double by the end of 2022.
And that means we’re going to see an explosion in the number of investable opportunities in this space.
But for now, you can buy the Roundhill Ball Metaverse ETF (NYSE: META).
Roundhill established this new ETF earlier this year. It gives you comprehensive exposure to VR and AR tech companies.
You can also check out Ian King’s Next Wave Crypto Fortunes service for a crypto angle to this new trend.
Keep following us at Winning Investor Daily for updates on this space.
Research Analyst, Strategic Fortunes
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