BCUS Innovations project

Part
01
of three
Part
01

Statistics Regarding Augmented Reality

Below, you will find a list of more than 25 statistics related to augmented reality. All of these stats were published after January 1st, 2016. We have included data on a range of AR topics, but have given priority to topics concerning forecasts for the present, future forecasts, and the rate of consumer adaption. We have included more than 25 statistics here as a means of providing you with a sufficient variety of information. In order to locate data for this list, we analyzed trusted media sites, tech and AR authority websites, market reports, and industry specific publications.

25+ statistics about augmented reality

1) Eventually, augmented reality will be used by everyone who uses a smartphone today, including children.

2) By 2020, there will be 1 billion users of augmented reality.

3) Currently, there are around 543 augmented reality start-ups listed on Angelist.

4) In the year 2022, there will be 22.8 million units of AR glasses shipped; this number was 150,000 in 2016.

5) Among U.S. consumers, 64% feel that augmented reality in the workplace would facilitate "remote participation in workplace learning and development."

6) By 2019, the market for augmented reality devices is projected to hit $659.98 million.

7) By 2020, the market size of augmented reality glasses should reach 5.4 million units.

8) By 2020 the market size for all augmented reality devices, including glasses, will be around 64.8 million units.

9) By 2020, the revenue gained from augmented reality will outpace that of virtual reality by four times.

10) By 2020, the augmented reality and virtual reality markets together is expected to be worth around $150 billion (in revenue); AR will have a $120 billion share, $30 billion for VR.

11) A survey published by ISACA states that 73% of Americans have an awareness of AR and IoT technologies, which interestingly is a 10% decline from 2015.

12) The ISACA survey states that between 60% and 70% consumers believe AR and IoT devices can benefit their lives, both personally and professionally.

13) Sixty-nine percent of ISACA survey takers said AR can assist them in learning new skills, while 62% saw benefits in both shopping and healthcare.

14) Apple unveiled their Apple AR Kit in June 2017 at the Apple Developer's conference.

15) Flirtar is an augmented reality app designed for use in dating, and is the first of its kind in the world; the device combines AR technology with the act of meeting and flirting with individuals in real life.

16) Ingress is an AR game designed by Google.

17) Blippar is a very well-known augmented reality company and received $45 million in funding during a single round in 2017.

18) By 2024, the AR market is expected to reach £122 billion, or about 170 billion USD.

19) Apple's iOS 11 is projected to bring AR technology to 500 million users.

20) Developers of augmented reality apps earn incomes of $10-$200 per hour depending on location; $15-$75 in South America, $50-$200 Western Europe, $10-$50 in Asia, $40-$170 in Australia, and $20-$100 in Eastern Europe.

21) Mobile usage of AR is expected to reach as many as 2 billion monthly users in 2022.

22) By 2022, 75% of AR revenues will derive from sales of equipment, e-commerce, and advertising.

23) The augmented reality device market will be worth $50 billion in 2021.

24) The highest amount of funding given to a start-up in the AR category was $542 million.

25) The sales revenue of AR smart glasses was around $1.2 billion by the end of 2017.

26) The 2022 market size for AR software will be $35.22 billion.

27) Mobile AR is expected to be the key driver of the VR/AR market through 2021.

28) Within its first three months after launching, Pokémon GO reigned in $600 million in revenue via mobile AR; this amount exceeded the revenue earned by the "entire VR games software market in 2016."

29) "At GE Healthcare, a warehouse worker receiving a new picklist order through AR completed the task 46% faster than when using the standard process."

30) Pokémon GO has received over 100 million downloads.

31) The education segment of the augmented reality market will see 82% growth CAGR through 2021.

conclusion

In closing, we have analyzed a number of sources to locate over 25 statistics on augmented reality, specifically those that focus around present forecasts, future forecasts, and the rate of consumer adoption.
Part
02
of three
Part
02

Chat Bot Statistics

Below is a list of 25 statistics regarding the current state, future forecasts and consumer adaptation of chatbots. The statistics are from industry surveys dated from 2016-2017.

Chatbots Today

1. Speech recognition is three times faster than typing on a cell phone and the error rate has improved by 3.6%.

2. Chatbots saved businesses $20 million in 2017.

3. Compared to traditional call centers, the average chatbot interaction saves 4 minutes per inquiry.

4. The average retention rate of chatbot interactions after one month is 40-60% compared to app usage at 20-40%.

5. 96% of businesses think chatbots are here to stay.

6. 27% of consumers could not tell if their last customer service interaction was with a chatbot or human.

7. Chatbot marketing has shown to have a 56% greater open rate than email marketing.

8. The chatbot market reached $703 million in 2016.

Future Forecast

9. The chatbot market is expected to reach $1.3 billion by 2025 with an annual growth rate (CAGR) of 24.3%.

10. Chatbots will result in a cost savings of over $8 billion yearly by 2022.

11. Chatbots will be responsible for 85% of customer service interactions by 2022.

12. The average chatbot interaction is expected to save 70 cents per inquiry by 2022.

13. 55% of companies will have a chatbot in use by 2020.

14. Chatbot success rates are expected to reach 75% in healthcare and 90% in banking by 2022.

Consumer Adaptation

15. 47% of consumers are open to buying items through a chatbot.

16. 40% of consumers do not care if they are using a chatbot as long as they can get help quickly.

17. 67% consumers globally used a chatbot for customer service in 2017.

18. 38% of consumers rate their overall perception of chatbots as positive and 11% as negative.

19. 43% of consumers see companies that use chatbots as innovative.

20. 30% of consumers see chatbots as helpful.

21. 35% of consumers think chatbots are less personal.

22. 35% of consumers would like for more companies to use chatbots.

23. 21% of consumers believe chatbots are the easiest way to contact businesses.

24. 50% of Millennials and 60% of Gen Xers have used a chatbot on a messaging app.

25. 45% of people prefer chatbots in customer service inquiries.

Conclusion

This list of chatbot statistics covers the current state, future forecast and rate of consumer adaptation of the technology.

Part
03
of three
Part
03

Latest investments from major banks in contactless card.

Introduction

There has been 9 recent investments from major banks in contactless cards and contactless payments from January 2016 to October 2017 from Capital One, Wells Fargo, Bank of America, HSBC, Santander and Citi Bank. These are:
(1) Capital One’s — VentureOne Rewards credit card (April / 2017)
(2) Capital One's — Quicksilver Cash Rewards credit card (April / 2017)
(3) Capital One's — Venture Credit Card (April / 2017)
(4) Capital One's — Savor dining rewards credit card (October / 2017)
(5) Wells Fargo — NFC- Enabled Mobile Wallet ATMs (October / 2017)
(6) Bank of America — N.F.C. enabled ATMs that feature contactless technology (October / 2017)
(7) Citi Bank — Citi Pay (July / 2017)
(8) HSBC — Business and Corporate Credit cards with contactless payment options (January / 2016)
(9) Santander — All-in-one Credit Card that is available as contactless card (October / 2016)

(1 + 2 + 3) Capital One's Credit Card Updated

Capital One's VentureOne Rewards, Quicksilver Cash Rewards and Venture credit card were re-released in April 2017 with contectless payment capability. Current owners of one of these 3 cards were sent this new version of their card "when it’s reissued — that is, when their current card expires." What this upgrade did was to "use technology such as near-field communication, or NFC, to securely transmit your card’s information to the reader."
April 2017

(4) Capital One's "The Savor" Card

Capital One's The Savor Card is a card designed for "rewarding for people to enjoy the food and dining experiences". This is a cash back credit card focusing on food lovers by giving people the ability to "earn unlimited 3% cash back on dining, 2% on groceries, and 1% on all other purchases". They also gave and incentive of $150 (one-time bonus) to those who spend $500 in the first 3 months of opening their account. They also have contactless technology built into The Savor Card for easy payments after meals and grocery shopping.

(5) Wells Fargo — NFC- Enabled Mobile Wallet ATMs

Wells Fargo informed their debt card users in October 2017 that they could take out cash from 5,000 of their ATMs without their card. This was because of the Moblie Wells Fargo Wallet (Using Android, Apple Pay, Android Pay and Samsung Pay) could now be used with their phones and take money out since the ATMs now have NFC (near-field communication) readers installed. Wells Fargo has 40% of it's ATMs setup with cardless capabilities and hopes to have all their ATMs like this by 2019. Wells Fargo is now has the biggest fleet of cardless ATMs in the US.

(6) Bank of America — N.F.C. enabled ATMs

Like Wells Fargo, Bank Of America has set up 2,400 Cardless ATM's that use Android Pay. Bank Of America were the first to release these cardless ATMs in America and gave instructions on how customers can use their Mobile Wallet to perform transactions. "To perform a transaction, the customer will select their Bank of America debit card in their digital wallet and hold their device over the ATM’s contactless card reader to activate the ATM". This was the start of the change from standard ATMs to Cardless ATMs.
May 2016

(7) City Bank — Citi Pay

Citi Bank release an online/digital wallet called Citi Pay to "enable payments in-store, in-app, and online" This service was rolled out to Citibank customers in Australia, Singapore, and Mexico in late 2016, with the U.S. launch planned for early 2017. They also incorporated the NFC function in android phone to make payments with their phone at the point of sale.
July 2017

(8) HSBC Business and Corporate Contactless cards

HSBC re-released their Business and Corporate credit cards to be able to make contactless payments. This will give 575,000 corporate customers the ability to use contactless payment technology on their corporate cards for smaller purchases. HSBC U.K. Head of Payments and Cash Management Frances Howell said : “Contactless payments are the fastest-growing means of card payment, with customers demanding greater flexibility in the way they spend their funds. Through the introduction of contactless functionality, we’re helping our business and corporate customers better manage their finances by making it simpler and more efficient to do business.” This was after their Business Debit Cards saw a reported a 300% increase of use in 2015.

(9) Santander — All-In-One Credit Card

Santander released a line of credit cards including the All-In-One credit card. "This credit card offers a very competitive 0% balance transfer period of 40 months, 0.5% cashback on all spending with no maximum cap and no foreign transaction fees. Available as a contactless card, it comes with a £3 monthly fee". This card was released as a way to satisfy customers with need of a multi-use credit card for any situation.

Conclusion

In our research we found that most of the contactless cards that were introduced were reward's credit cards or business credit cards. We also found that there was an increase of ways to remove credit cards, standard and contactless, and replace them with mobiles that have NFC installed in them. This was demonstrated in 5, 6 and 7 of this list. NFC ATM's and NFC capable phones are just making transactions easier, more of a viable option and meaning that forgetting a wallet or purse is less of an issue.
Sources
Sources