Augmented reality apps may give Apple a boost of between $6b and $8b until 2020, according to an analyst for Bank of America Merrill Lynch, quoted by CNBC. The estimation claims $1b alone will come from premium augmented reality apps, while the rest will come from hardware sales due to the inclusion of AR tech.
Wasmi Mohan, senior equity research analyst at Bank of America Merrill Lynch, said:
“We think AR apps will command a price premium.”
The research does not take into account Apple releasing a new AR device, such as a headset, and should it do so the revenue may leap to $11b between now and 2020. Additionally, while games are closely associated with AR technology, apps designed by retailers, hotels, and travel companies are highlighted as other popular uses for augmented reality.
Apple’s ARKit was released in 2017, and has been recently updated.