Augmented Reality in Banking - Thematic Research

Augmented reality (AR) is a technology that allows the user to see the real world overlaid with digital data. 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. According to the publisher's 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.

This report takes an in-depth look at look at the impact of AR in the banking industry. These data analysis section provides market size and growth forecasts, followed by M&A activity, an AR timeline, and insight into company filing, hiring, and patent trends. An impact assessment details the areas of AR where banking companies should focus their investments and outlines how challenges faced by the industry have accelerated the adoption of AR. The value chain section offers a detailed description of each segment of the AR technology stack. The report also discusses the specialist vendors and leading adopters of AR in the banking industry, including case study analysis.

Scope

• Banks should focus their investments on the edge of the AR value chain, seeking to create experiences through platforms and applications.
• AR content is a key investment area for banking and payments companies. Usually, banks partner with specialist vendors to create AR content centered on specific use cases, such as marketing or visualizing information.
• Tech-forward banking and payments companies have explored the potential applications of AR across several stages of customer and product lifecycles. This ranges from marketing new products to onboarding new customers and boosting the subsequent customer experience.
• Total AR-related patent publications across the banking sector increased from 68 in 2010 to over 2,100 in 2023.

Reasons to Buy

• Access market size and growth forecasts for AR in banking.
• Identify leaders and laggards in AR across payments and retail banking.
• Understand the key challenges facing the banking industry, and how AR addresses these challenges.
• Access primary research case study examples of AR vendors and investments in the banking industry.