The use of augmented reality displays in location-based entertainment venues is expected to accelerate over the next five years.
SAN FRANCISCO, CA, June 24, 2019 – Core to the new customer experience in the location-based entertainment industry is immersive experiences. Beyond popular smartphone-based augmented reality (AR) games such as Pokemon Go, today's AR display systems serves as a critical technology for the entertainment venues, providing the benefits of enhanced digital features, new information capabilities, and multiplayer experiences. To help AR technology vendors and content suppliers navigate the evolving location-based entertainment, Greenlight Insights today unveiled a new report, Market Perspective: Augmented Reality in Location-Based Entertainment.
Augmented reality systems are rapidly becoming a crucial investment for premium location-based entertainment companies. While relative growth rates of the various location-based virtual and augmented reality subsectors shift from year to year, spending on augmented reality display technologies is forecasted by Greenlight Insights to grow at a compound annual growth rate (CAGR) of 24.4% from 2019 to 2023. As augmented reality installations at museums, tourist sites, and entertainment centers proliferate, to address the needs and wants of today's consumer, technology vendors and content suppliers are having to deploy more specialized solutions that can deliver the compelling, seamless, and frictionless entertainment experience that today's venue operators expect.
The new Market Perspective report provides guidance on how augmented reality-related technology vendors should develop their location-based entertainment solutions to respond to the requirements of venue operators. Greenlight Insights assesses the vendor landscape and by examining the requirements of several capabilities against a broad list of usage scenarios and capabilities in the areas of content and hardware costs, effect on operations, and the overall added value to the customer.
"Our research provides a comprehensive look at augmented reality in the location-based entertainment sector. With consumers' expectations for their customer experiences evolving so rapidly, vendors are under pressure to respond with immersive and distinctive services and capabilities. But identifying when augmented reality is a critical component for delivering an exceptional customer experience and its potential business impact should be the primary responsibility of technology and content suppliers targeting this emerging field," said Alexis Macklin, research manager at Greenlight Insights. "In this research, we offer a fresh look at the new capabilities that various augmented reality display technologies are currently delivering in the location-based entertainment industry, and that will change in the future within their innovation."
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About Greenlight Insights
Greenlight Insights provides proprietary and syndicated research, consulting and events about the future of virtual and augmented reality. Greenlight Insights also sponsors the annual virtual & augmented reality strategy conference, xRS Week, which will next be presented in San Francisco, October 16-18, 2019. More information at xrsweek.com.