IoT and Augmented Reality examples prove that the evolution of technologies has become smarter. Moreover, IoT and Augmented Reality can help businesses utilize the complete potential of data. For instance, IoT can connect various sources of data and AR helps visualize the data.
Further, the combination of IoT and Augmented Reality helps businesses resolve various issues and expand their horizons in different industries. IoT and Augmented Reality examples emphasize a more interactive environment and make the technologies smarter.
Gartner states, “The IT Services for IoT market will represent a 58 billion dollar opportunity in 2025, up at a 34% CAGR from 2020. The largest revenue segment will be in the build phase, while the highest growth will occur in the run phase.”
A report by MarketsandMarkets shows that the market for AR can reach $88.40 billion by 2026 with a CAGR of 31.5%.
Therefore, these studies and reports show that the IoT and AR carry immense potential and are here to stay and evolve. As a result, combining the two can lead to newer innovations in industries.
There are also various examples where IoT and Augmented Reality evolve operations in the manufacturing industry. Hence, in this article, we will know more about the various examples of IoT and Augmented Reality. We will also understand the relation between the two technological phenomenons and the way they empower businesses.
Understanding IoT and Augmented Reality and their various Examples
According to Oracle’s definition, “The Internet of Things (IoT) describes the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet. These devices range from ordinary household objects to sophisticated industrial tools.”
In other words, IoT is a system of various devices that interrelate with each other to transfer data. Further, there are various technologies that enable IoT, they are:
- Low-cost, low power, and easily accessible sensor technologies.
- Reliable connectivity of various host network protocols that connect sensors to the cloud.
- Various Cloud Computing platforms to interact with businesses and consumers.
- Usage of Machine Learning and analytics solutions to store and analyze data.
- Conversational AI to translate data using NLP.
According to an article in Investopedia by Adam Hayes, Economic Sociologist, Assistant Professor of Sociology and Anthropology, The Hebrew University of Jerusalem, “Augmented reality (AR) is an enhanced version of the real physical world that is achieved through the use of digital visual elements, sound, or other sensory stimuli delivered via technology. It is a growing trend among companies involved in mobile computing and business applications in particular.”
That is to say, AR projects virtual images in a real-life format to “augment reality”. Moreover, it combines the real world with computer-generated virtual images for better interaction.
Here is the importance of Augmented Reality:
- Firstly, AR uses its abilities to enhance experiences by superimposing visual, auditory, and various other sensory information.
- AR also helps businesses to promote and demonstrate their products, services, and solutions.
- Moreover, it uses virtual information and enhances it in the real world.
There is a significant increase in data volumes and usage. However, businesses are unable to collect and process them. As a result, data processing is becoming slower and the data tethers into the data lakes. Further, it leads to loss of data. Moreover, businesses have a difficult time generating insights due to the loss of data. Although businesses use various data visualization tools, they are not very effective in representing data from multiple sources. Hence, businesses require more robust solutions to visually interpret the data.
Moreover, AR and IoT enable the technologies to be smarter and more interactive. Therefore, AR and IoT can help represent the data in a better format. Further, AR is more of interactive technology and IoT is a suite of networks that connect physical devices to the cloud. Hence, the two technologies create an infrastructure that collects data for analysis and provides actionable insights. Therefore, IoT and AR examples assess the data to provide more meaningful insights.
Further, IoT connects physical devices to cloud infrastructure and AR generates images that interact with the physical world. Hence, the two technologies can help businesses manage operations from remote locations.
The benefits of integrating IoT and Augmented Reality
- Firstly, integrating IoT and AR ensures tasks and processes are executed in a safe, correct, and efficient manner.
- Moreover, they provide standardization for business operations and integrate various functions into the system. Hence, this helps mitigate errors and develops more opportunities for businesses in the long run.
- Further, IoT and Augmented Reality digitally transform various business processes. They also improve responsiveness, performance, and personalize services. Hence, this leads to a better customer experience and improves the scope of revenue streams.
According to a survey by BCG, “more than 80% of the companies surveyed expect IoT-AR solutions to become the norm in their industry in the next five years.”
The survey further states, “Of the companies surveyed, 81% are using IoT and also exploring the possibility of using AR, while about 76% of those developing AR-only solutions believe that adding IoT to their applications would have value.”
Hence, here are IoT and Augmented Reality examples that promise a better future and connection:
IoT and Augmented Reality Examples in the Real Estate Business:
The real estate industry often uses AR to enhance its consumers’ experience by making the properties more accessible. Further, it enables real estate businesses to utilize IoT and AR to showcase properties and their features from various locations. Hence, making their websites more interactive and providing users with more realistic images.
Moreover, IoT enables the use of smart technologies that develop the concept of “Smart Homes.” It also provides a sense of security to home dwellers along with a plethora of features that run the technologies in their homes.
Further, according to a market research survey by 360 Realtors, 64.9% of the participants expressed an interest in futuristic technologies like AI, ML, BigData, IoT, etc. Moreover, more than 71% of participants showcase the requirement of using AR and VR solutions to demonstrate properties. It also states that 68.8% of participants look forward to the usage of AR and VR in various construction and development projects.
Examples of Augmented Reality and IoT in Product Design
In a product lifecycle, the design and development phases are the pinnacle of building the business. Moreover, operations and executions run around these phases are often dependants. Further, designers develop products according to their life-size usage and applications. Therefore, with the emergence of IoT and AR applications, designers can efficiently make changes and develop prototypes. Moreover, AR can help create enhanced images and IoT can help with various devices to transform the process. For example, Microsoft HoloLens uses Mixed Reality to convert images in the real world and IoT connects the devices and systems to the network and cloud.
IoT and Augmented Reality Examples in Education
With the current state of the Pandemic, students are using various technologies for learning. Moreover, there has been a high rise in various professionals pursuing further education degrees. Although, individuals studying for a surgeon’s degree or physician’s degree require a more practical approach in their learning. Hence, this is where the applications of AR and IoT are in utmost demand. For Example, Simbionix Simulators are 3D systems that are medical simulators. It helps professionals and students gain hands-on experience in performing Minimally Invasive Surgery.
According to Jeffrey Ponsky, Professor of Surgery at The Cleveland Clinic, “A surgeon or endoscopist should be able to work with instruments in an environment that feels just like that of working on a real patient. There should not be the feeling of a game or artificial environment. Only 3D Systems has worked closely with physicians to develop a continuous improvement of a simulated environment.”
In conclusion, IoT and Augmented Reality examples open up multiple opportunities to grow businesses and industries. Moreover, giant organizations like Microsoft, NASA, Autodesk, Google, Amazon, etc. have already created solutions in AR and IoT technologies. Hence, the technologies offer actionable insights along with meaningful experiences and services for businesses and consumers.
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