Augmented Reality in Insurance - Thematic Research

Augmented Reality in Insurance - Thematic Research

Summary

This report provides an in-depth look at the augmented reality (AR) theme within the insurance sector, covering industry challenges (and how AR can tackle them), investments in the technology, case studies, the AR value chain, key players within the space, and more.

Augmented reality (AR) is a technology that allows the user to see the real world overlaid with digital data. According to GlobalData forecasts, the AR market will be worth $100 billion by 2030, up from $22 billion in 2022. AR software will generate most of this revenue, with limited spending on AR headsets and AR smart glasses. Smartphones are the primary device for AR applications today. While Big Tech is developing new AR headsets and smart glasses, smartphones are gaining AR capabilities like advanced spatial awareness, precise positional tracking, and artificial intelligence (AI) tools. This promises to bring more realistic and immersive experiences to mobile AR in the next couple of years. In the meantime, insurers are already adopting other use cases for AR technology, such as live video claims and risk visualization to estimate damage.

Scope

The use cases of AR can help solve some of the challenges insurers face, while also changing the way providers advertise and the way they engage with customers.
As more insurance companies use AR, they will see benefits such as an improved customer experience and increased operational efficiency.
According to GlobalData forecasts, AR will become a $100 billion market by 2030.

Reasons to Buy

Benchmark yourself against the rest of the market.
Gain valuable insights into the intersection of AR and the insurance industry.
Understand the potential benefits and opportunities of integrating AR technology into insurance processes.
Ensure you remain competitive as new innovations and developments in AR transform the insurance industry.
Position yourself for success by understanding the ways in which AR can help solve major challenges within the insurance space, including ESG and cybersecurity risks.