As augmented and virtual reality related technologies have come a long way over last couple of years, it’s not a surprise that apps that focus in these areas are some of the most popular applications out there. Interestingly, Juniper Research has claimed that AR and VR apps will reach 10 billion downloads by 2024.
This claim isn’t particularly surprising considering mixed reality apps are already on the rise. In case you didn’t know, mixed reality overlays images and videos onto the real world by using a device’s camera. As the feature makes highly engaging application, it’s not surprising that apps such as Pokemon Go and Harry Potter: Wizards Unite have become extremely popular among smartphone users since their release. On the other hand, companies are already working on bringing their own products. For example, rumors for a while have suggested that Apple is planning on bringing a VR/AR headset over next couple of years.
The researchers have claimed that gaming and social media apps that feature AR/VR will make up half of the app installations by 2024. As for revenue, the paper claimed that the in-app purchases will make up to 75 percent of the revenue generated by these apps.
The claims aren’t far off considering Niantic (Pokemon Go and Wizards Unite developers) and Snap have become extremely successful due to their implementations of the technology. As of now, Pokemon Go has been downloaded more than 1 billion times and Snapchat has 210 million daily active users despite the company’s struggles over last few years.