Augmented Reality: Specialised Applications are the Key to this Fast-Growing Market for Germany
15 Pages Posted: 19 Sep 2015
Date Written: September 17, 2015
As well as companies, private individuals are now increasingly making use of augmented reality. All too often, augmented reality is used as a synonym for smartglasses in the media. But it offers far more: supporting people in their day-to-day activities, extending their perception and facilitating communication.
There is enormous potential for German companies offering specialised applications. Applications for the consumer mass market are mainly likely to be offered by companies from other countries. German companies would probably do well to offer customised services for commercial applications in niche markets where the tech giants have not become established.
Augmented reality can be deployed at every stage of the value chain. Its opportunities for increasing efficiency are particularly relevant for an ageing and shrinking population as they can help to mitigate the increasingly evident staffing problems caused by a shortage of skilled workers. Given that this is one of the greatest challenges of demographic change in Germany, companies here could clearly benefit. That is why it is important not to write off the technology in its entirety, simply because of individual applications, but instead to contain the risks by putting a legal framework in place so that the opportunities can be seized.
Business success does not happen by itself. Representatives from the technology sector, finance and politics must come up with concrete answers to the many different questions surrounding this issue as soon as possible. These questions relate to all kinds of areas, including the user-friendliness of control and image display, battery and computing power, confidentiality, standardisation and infrastructure.
Keywords: Innovation, production
JEL Classification: L10, L20, L80, N60, O30, O40
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