Augmented Enterprise Summit 2024 is set to kick off this week from October 15-17, showcasing the cutting-edge AR/VR/MR innovations that are driving a workplace revolution in leading firms. AES will be hosting its global operations this year in Dallas, Texas, uniting industry professionals over the course of the three-day event.
The platform for AES 2024 will feature XR companies like Meta, Qualcomm, XREAL, HTC VIVE, and RealWear, providing a glimpse into the products and technologies that are shaping the industry landscape now and in the future.
Some of the highlighted technologies at AES 2024 include digital twins, haptics, avatars, blockchain, wearables, VR headsets, AR smart glasses, and more. Additionally, the event will have a diverse expo floor, where various vendors and technologies will be on display for attendees to explore.
Furthermore, AES will focus on how companies are utilizing XR technologies to enhance workflows, with keynote speeches and talks from representatives of major global operations that are leveraging AR/VR/MR. This year’s guest speakers from end-user companies include Coca-Cola, Disney, FedEx, and Nestle.
The event comes on the heels of Meta Connect’s recent innovations like Orion, which captured headlines in the XR space. Events like AES serve as a platform to showcase how XR technologies can drive transformative changes in businesses today.
Preparing for 2025
As we head towards the holiday period of 2024 and look ahead to 2025 and beyond, the XR revolution is expected to gain momentum, paving the way for significant developments leading up to 2030.
Forecasts indicate a shift in the XR market towards greater adoption of AR and MR devices, moving away from traditional VR headsets. This shift is expected to bring added value to associated technologies, catering to a wider audience.
According to a report from VarifiedMarketReports, the 3D geospatial market is projected to experience substantial growth in the coming years, with an estimated value of $16.2 billion by 2030, up from $8 billion in 2024. This growth is driven by the rising popularity of AR location-based applications in both consumer and enterprise settings. The report also forecasts a 20.3% annual growth rate from 2024 to 2030, with key players like Hexagon, Atkins Plc, and Topcon leading the way.
Another report from ResearchAndMarkets focuses on the global market for smart augmented reality glasses, predicting a growth from approximately 678,600 units in 2023 to 13 million units by 2030, representing a substantial 53.0% annual growth rate. The report also highlights growth trends in the US and China markets.
Furthermore, Evolve Business Intelligence’s report on augmented reality and virtual reality projects a market size of around $374 billion by 2033, covering various sectors such as gaming, entertainment, healthcare, education, retail, and manufacturing.
However, IDC reported a significant decline in global AR/VR headset shipments in the first quarter of 2024, with a 67.4% year-over-year drop. This decline was primarily attributed to a shift in consumer focus towards MR/AR devices over traditional VR headsets.
Conclusion
As the world of XR technologies continues to evolve and shape the future of various industries, events like the Augmented Enterprise Summit play a critical role in showcasing the latest innovations and trends. With companies like Meta, Qualcomm, and HTC VIVE leading the charge, the landscape of AR/VR/MR is poised for rapid growth and transformation.
Looking ahead to 2025 and beyond, the XR market is expected to witness significant shifts towards AR and MR devices, offering new opportunities for companies and consumers alike. Reports forecasting substantial growth in areas such as 3D geospatial applications and smart augmented reality glasses point towards a vibrant future for XR technologies.
Despite challenges like declining VR headset shipments, the overall outlook for the XR market remains positive, with transformative potential across a range of sectors. As businesses and consumers embrace these technologies, we can expect to see even more exciting developments that push the boundaries of what is possible.
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