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Augmented Reality, Virtual Reality, and Biometrics Represent Key Growth Opportunities
25-Jan-2021
Global
Megatrends
K52F-01-00-00-00
CI00739-GL-MT_25208
User Interface technologies have moved beyond the concept of simply representing machines to their users to enabling sophisticated and personalized interaction. The COVID-19 pandemic has accelerated their use in healthcare, manufacturing, education, retail, and banking to simplify interactivity and improve engagement. This report aims to help companies understand the future of user interfaces, encompassing the technologies and mindsets that influence their adoption, and the most likely growth opportunities.
Global augmented/virtual reality (AR/VR) market revenue is expected to reach $661.4 billion by 2025, increasing at an astounding compound annual growth rate (CAGR) of 86.3% from 2019 to 2025 with AR applications in manufacturing, education/training, and automotive seeing huge growth. Beyond 2030, AR and VR will eventually merge, allowing users access to the total reality-virtuality continuum.
Global biometrics market revenue is forecast to reach $54.97 billion in 2025, registering a strong CAGR of 19.6% from 2019. Rapid adoption in the financial sector is providing traction for the integration of biometrics in major market verticals. Multimodal biometrics is expected to be a growth opportunity because it ensures resilience to data thefts and counterfeit. Next- generation identification, palm vein, and behavioral biometrics will see significant demand.
A number of promising opportunities exist in the brain-machine interface industry in the next decade, especially in the field of gaming and consumer electronics. Healthcare will continue to be the major focus as more emerging technologies become available. Opportunities will continue to grow for wearable sensors for healthcare that are configured in smart watches or armbands. Over the next 5 years, wearable healthcare sensing devices will be commercialized in configurations such as skin patches and electronic skin.
To sustain the growth of new user interface technologies, a supporting ecosystem of experts is needed to create shared platforms in the infrastructure network. New interfaces require powerful computing capabilities. In the medium term, neuromorphic computing approaches will be employed in training or running machine learning algorithms in both cloud servers and on-device applications. The first commercial general-purpose quantum computers are expected to appear in the 2030s. For futuristic user interfaces to become ubiquitous, device security and user privacy become critical. Organizations must prioritize cybersecurity, business continuity plans, and risk assessments.
Author: Murali Krishnan
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on Industries Post-COVID-19
Growth Opportunities Fuel the Growth Pipeline Engine™
How to Read this Study
Scope, Coverage, and Taxonomy
Key Findings
Key Findings (continued)
Growth Opportunities Emerging from UI Innovations
Evolution of UIs
UI Adoption Timeline
Global Trends Driving UIs
Growth Drivers
Growth Restraints
UI Technology Categorization
Assessment Framework
Internalized Interfaces—Brain-Machine Interface Use Cases
Internalized Interfaces—Implants Slowly Gain Exposure
Externalized Interfaces—Wearables Expanding User Base
Expanding Externalized Interfaces—Accessories, Embeds, and Outfits
Mixed Reality Interfaces—Extended Reality
Voice Interfaces—Virtual Assistants
UI Shifts Impacting Key Industries
UI Shifts—Retail and Hospitality
Retail and Hospitality Use Case Analysis
UI Shifts—Automotive
Automotive Use Case Analysis
UI Shifts—Healthcare
Healthcare Use Case Analysis
UI Shifts—Smart Cities
Smart Cities Use Case Analysis
UI Shifts—Manufacturing
Manufacturing Use Case Analysis
UI Shifts—Banking
Banking Entry Interface Use Case Analysis
Organizational Impact of New UI Adoption
Organizational Perspective of UI—Operations
Organizational Perspective of UI—Branding
Organizational Perspective of UI—Advertising
Organizational Perspective of UI—Recruitment
Organizational Perspective of UI—Employee Training
Organizational Perspective of UI—Customer Engagement
Organizational Perspective of UI—Social Connect
Organizational Perspective of UI—Behavioral Analytics
Visioning Scenarios—Deriving Macro to Micro Implications
VR-based Social Media Experiences and Tourism
Holographic Communication Systems
Personalized Robotic Interface
EYE Embed UIs
Digital 3-Dimensional UI Devices
Digital Touch Interface
Digitalized Home with VR Capsules
Growth Opportunity Levers
Growth Opportunity 1: Biometric Technologies
Growth Opportunity 1: Biometric Technologies (continued)
Growth Opportunity 2: Digital Twins
Growth Opportunity 2: Digital Twins (continued)
Growth Opportunity 3: Brain-Machine Interface
Growth Opportunity 3: Brain-Machine Interface (continued)
Growth Opportunity 4: AR/VR Experiences
Growth Opportunity 4: AR/VR Experiences (continued)
Growth Opportunity 5: Data Monetization
Growth Opportunity 5: Data Monetization (continued)
Identifying Your Company’s Growth Zone
Critical Success Factors for Growth
Top Predictions for New UIs
UI Transformation Impact Use Cases—Digital Transactions
Your Next Steps
Why Frost, Why Now?
List of Exhibits
Legal Disclaimer
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Impacting your company's future growth potential.
| Deliverable Type | Megatrends |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Murali Krishnan |
| Industries | Cross Industries |
| WIP Number | K52F-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9A3B |
Future of User Interfaces Shaping New Consumer Experiences
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