Augmented reality (AR) and virtual reality (VR) have been synonymous with the worlds of gaming and entertainment over the past decade. And, while using AR has become much more mainstream, it started out as far back as 1968 as this obscure concept that people couldn’t quite get their heads around. Although, the term AR was only invented in 1990.

It is defined as “an enhanced version of reality created by the use of technology to overlay digital information on an image of something being viewed through a device (like a smartphone camera)”. VR, while the more popular cousin of AR, is a more immersive technology, as it completely blocks out the physical world.

Even though we’ve seen the potential of AR to make our lives easier (in tech-focused sci-fi shows like Netlix’s Black Mirror), in the real world, a lot of the big global brands have been rapidly adopting VR in their business models. For the tech-savvy entrepreneur, this is a very exciting opportunity that’s worth investing in and following through with.

AR in the real world

The two most common kinds of AR involve location-based realities and recognition features. You can easily access these from smartphones that have GPS, cameras and several other built-in sensors. 

An example of both location and recognition-based AR is the popular gaming app Pokémon GO. Since its hyped release in mid-2016, to masses of eager fans, it has continued to grow in user, from 84 million active users in the US (its main market) at launch to over 311 million in 2020, with billions of dollars spent by users on the app.

One of the contributing factors is the rapid worldwide adoption of smartphones over the past decade with over 3.8 billion users estimated in 2021—an all-time high. This number’s expected to keep growing over the next few years.

For entrepreneurs, this is the best time to harness the power of smartphones, by exploring ways to incorporate AR into their brand strategies. Think about how you’d like to see your brand from a user’s perspective, through their phone camera.

Global impact

AR can be applied to almost every sector, healthcare, automotive, industrial and entertainment. It has had a positive impact in multiple sectors, with usage continuing to grow each year in several major economies. The gaming sector continues to have the largest AR adoption share.

The economic impact of AR is undeniable, with its usage estimated to contribute over $450 billion to global GDP by 2030. When you combine this with VR, in what is known as mixed reality, the expected impact is even higher at over $1.5 trillion by 2030. 

The US holds the lion’s share of AR adoption and spending, with AR and VR expected to boost its GDP to the tune of $537 billion by 2030. Jobs will also be impacted, with an expected boost to over 2.3 million jobs by 2030.

Regions, such as the UAE, have seen rapid adoption of AR and VR, where its GDP is expected to be boosted by $4.1 billion by 2030 while enhancing almost 43,000 jobs. There’s no denying that shifting realities will play a major role in the future of our industry.

The world is changing, so take note

Technology keeps getting better each year, with devices becoming smaller, cheaper, faster and more powerful. At the same time, content is more engaging, with ultra-fast internet speeds making sharing easier.

In addition, consumer behaviour is changing, with one global study suggesting that 76% of consumers would rather spend their money on experiences than on material things. There are two major trends happening right now:

• Experiences are better. Consumers want to say they did something rather than bought something. They should be able to remember your brand and the connections they made with other people through the experiences you helped create.
  
  
• Mental health awareness is growing. Around the globe, brands and entrepreneurs have the opportunity to create AR experiences that lift the moods of their consumers, to help them deal with everyday stresses, depression and anxiety.

Consumers are also becoming more socially and environmentally aware.

Benefits of AR

Technology should always be expected to solve challenges rather than be a distraction from reality. Generally, using AR should transform the organisation by cutting costs and increasing efficiency,, making life easier. Let’s take a look at some examples of where AR can be applied in the real world to solve real problems.

• Retail convenience: For salespeople, instead of moving around with printed brochures and catalogues, they can show potential customers a 3D version of their products using AR. This is especially good for products that are hard to move around.

With AR being a mainly informative technology, customers may also benefit through seeing prices and other details of products displayed on their screen, when they walk into a store with their smart device.

• Customised user experience: With the growing emphasis on memories over things, providing personalised experiences becomes more important. People are using AR to watch ads in real-time, or watch shows of their favourite musician, right from their kitchen.
  
  
• Training: This can be expensive, particularly where there’s a lot of equipment involved. AR helps by cutting down the need to travel or move around medical equipment, for example. Difficult medical procedures can be practiced by trainee physicians simultaneously, with limited restrictions.

Future of AR

While AR has been incorporated in the vehicle sector (through heads-up displays in some premium cars), this trend is expected to continue in the near future with adoption becoming more mainstream. New and improved smart glasses, such as rumoured Apple AR Glasses, are expected to enter the market at more affordable prices and stand a good chance of capturing the commercial market if this comes to pass.

Smartphones are expected to continue to lead the adoption of AR as they are found in almost every pocket. Holographic AR is expected to increase, particularly in areas like education. This is useful during a global pandemic, for example, with students viewing their instructor through a compatible device. 

As we can see, the opportunities for entrepreneurs are endless through AR. If you can find a mode of application that fits your business model - the sky's the limit.

Get in touch

Want to know more about how Digital Grind can help you up your AR game and create something your consumers will love? Contact us. 

Technology has been evolving rapidly over the past few decades at an extraordinary speed most of us never thought possible. Technology currently has infinite uses and has impacted and improved the lives of global citizens, whether at home, work, in classrooms or leisure activities. 

During 2020, businesses had to come face-to-face with the COVID-19 pandemic and the effects it had on all our livelihoods. For some, going through an intense digital transformation was the only way to allow employees to work remotely and maintain productivity in response to the lockdowns restrictions.

Software developers were at the forefront of this change, and their teams had to start incorporating functionality that enabled social engagement. Some of them had their work cut out for them, having to quickly adapt in such an agile environment to their customers' new and growing needs.

Now that we’re in 2021, more people have grown to appreciate the importance of software development. There are a number of trends that have been seen in the software development industry. We’ll discuss some of these below and the future outlook.

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Rising demand for developers

The increasing demand for digital solutions by businesses around the globe meant companies had to hire developers to transform their business models, particularly through e-commerce. Developers increased in demand by 25% between 2019 and 2020, and job portals around the globe are continuing to see a rapid recruitment boom.

While other industries and sectors started to teeter on the brink of collapse, software development continued on an upward trend during the pandemic. This trend is expected to continue over the next decade as new opportunities continue to come out of this industry.

In fact, what is evident is that developers who upskill themselves in various emerging technologies will benefit most from this trend. The top skills that will be in demand going into the future will be IT automation, and AI and machine learning. With the number of tech startups also on an upward trend, the future looks promising for software development.

A hybrid and flexible work environment

Due to the pandemic, businesses everywhere were forced to both digitise and digitalise. Software developers had to respond to this call and became more flexible by collaborating on projects more remotely than ever before.

Where developers were used to running projects mostly in person, they had to now adapt to a hybrid work approach. This has seen a reduction in meeting lengths as teams aim to become more efficient in the wake of increasing workloads.

Things are constantly changing, as the year 2020 has shown. This has necessitated the use of an agile approach on workstreams. With the emerging in-demand coding skills, self-teaching is becoming another major trend in the industry to keep up with the rapid transformation.

Growth of the Cloud

As software teams are now working remote-first, most development projects have now moved to the cloud, incorporating social and collaborative tools. Value stream management software will help drive agility right now and going forward. The cloud computing market is forecast to grow 18% in 2021, with the trend set to continue over the next five years.

The focus on cloud-native skills will gain more importance going into the future and this will be supported by virtual colocation infrastructure which allows for scalability to cope with the increased agility. The scalability offered by the Cloud is allowing developers to adjust to ever changing demand. 

Sectors such as tourism, travel and hospitality experienced reduced demand. Scalability allowed some to reduce their server needs without bearing the full costs of a physical data centre. 

Agility and the shift to cloud infrastructure has led to an increased demand for full-stack developers to support the flexibility requirements and increasing software development needs. If you haven’t already migrated to the Cloud, then this is the best time to start looking at some options that can benefit your organisation.

Low-code and no-code adoption

As organisations scrambled to adopt digital solutions in 2020, developers were left with higher workload. This led to an increase in low-code products that could be quickly deployed and free up developer capacity.

These low-code solutions are easily scalable and components can be reused on multiple clients. This is particularly useful given that the demand for developers is surpassing the ability of recruiters to fill vacancies. One example of these solutions is the Bubble platform.

Low-code and no-code allow for rapid development and deployment of web apps primarily. People with great ideas will benefit mostly from these developments, speeding up their implementation. Going forward, this market segment is expected to continue on a positive uptick, powered by the Cloud.

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AI and automation

Trends currently show that AI and machine learning will be at the forefront of software development automation going into the future. This will particularly be of benefit in test automation, helping to identify problems faster through natural language processing.

AI helps make more informed decisions as it can provide predictive analytics, ultimately improving user experience. You may need to start thinking whether you think you might need to find a software developer to help incorporate AI to speed up business processes and get ahead of your competition.

5G is here to stay

What is certain is that 5G was one of the most talked about topics in 2020, mostly for all the wrong reasons. Now that the dust has mostly settled, 5G is set to contribute to the rapid growth of software solutions.

5G is expected to have a 15% share of the global mobile industry by 2025. The outstanding speeds that can be achieved using this mobile technology, among several benefits, provide endless possibilities for developers. 

For those looking to incorporate AR and VR in their business, the speeds provided by 5G will be a perfect fit as they are resource-intensive technologies. In addition, the growing trends of progressive web apps and IoT will continue in 2021 and beyond. Their development and use will be enhanced even further by 5G technology.

The technology trends we witnessed starting in 2020 are expected to continue to grow in the long run. One thing for sure is that life will never be the same again as before the pandemic.

Are you future-looking and thinking of jumping onto one of these trends for your business? If you were searching for software development experts, then look no further. Whether it’s app or web development, e-commerce solutions, AR and VR, or getting insights from your data, to name a few, talk to Digital Grind. We’ve got you covered.

The cost of software development, upgrade and maintenance projects can be a sore point because they don’t come cheap. Whether you take-on the projects in-house or outsource them, there are technology and resourcing costs that can spiral when unmanaged, causing them to go over-budget.

As with any project, a quick return on investment is wanted from software projects. When your business is reliant on technology to run and be profitable, extended tech projects that don’t perform or deliver value fast are a thorn in the side of business continuity as well as the bottom line.

Here’s an idea of software project costs

In Dubai, the cost of the average app development project ranges from $5 000 to $10 000. For complications and multi-feature app, prices shoot to between $267 000 and $360 000. 

Need a website? For a small and simple business website, expect to pay in the region of $15 000.  For a conversion or lead-focused website, the cost will be about $30 000, and $50 000 upwards for a complex, feature-rich website. 

The average cost of a business software upgrade, from Enterprise Resource Planning and Customer Relationship Management systems to IT security, can range from a few thousand to hundreds of thousands of dollars, depending on the size and the type of business you are in.

Don’t underestimate the time and financial resources needed to build quality, functional software applications. There is a lot that goes into it and costs begin to stack-up when the project doesn’t perform or goes over-budget. 

Use the Cost Performance Index to measure project cost efficiency

The Cost Performance Index is a measure of the financial effectiveness and efficiency of a project, and represents the amount of work completed for every monetary unit spent. Project managers can use CPI to measure the cost efficiency of software projects against the work actually completed for an early flag that budget or scope adjustments need to be made. Simply put, it is a way of demonstrating whether or not your project is on budget and performing.

Using the CPI will give you an honest view of the cost efficiency of budgeted resources as a ratio of earned value to actual costs. 

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The power of one

You can calculate the Cost Performance Index by dividing the Earned Value (EV) by Actual Cost (AC). When we talk about Earned Value (EV), we are talking about the amount of the task that is actually completed compared to what was planned to be done by a particular stage. It is expressed in terms of the budget set for the project. For instance, if the budget is $10,000 but only 20% of the work has been completed halfway through the six month project timeframe, then the EV is $2,000. The Actual Cost (AC) is the amount of money that has been spent on the task.

So, CPI = EV / AC 

For example, if a project has an EV of $30 000 but the AC is $15 000, the CPI is 2. 

But what does that mean?

CPI < 1 – a CPI that is less than one means the earning is less than the amount spent. You can say the project is over budget. 

CPI > 1 – a CPI that greater than one means the earning is more than the amount spent. This is when you can happily say that the project is under budget. 

CPI = 1 – a CPI equal to one means the earning and spending are equal. Everything is going according to plan and the project is performing well. 

The upside and downside of technology

In this digital age, you know that technology not only enables your business but powers it. There is a downside though. Software needs constant maintenance and frequent upgrades. Don’t consider maintenance or upgrade projects as a nuisance. Instead, see upgrades as an investment into better efficiencies, seamless continuity, improved productivity, more features, greater functionality, happier employees, more engaged customers, tighter IT security and reduced risks. The list of rewards from optimised software goes on, and they translate into business growth. Maintaining your software systems will ensure that they are up-to-date, bug-free, cyber-secure and working as they should. 

Hand it over

Budget, skills and resourcing constraints will impact the progress and ultimate success of your software projects, whether it’s a new app development or a website upgrade. Poor planning leads to slow progress and failing to reach the goals you want to achieve. You want a CPI equal to one or more if you want the most bang for your buck.

Not your forte? Hand it over. At Digital Grind we eat, sleep and drink this stuff. We have an established team of tech experts who understand the software development, maintenance and user experience design landscape. We also know that getting ROI on software projects is important to our clients. So planning and sticking to budget and project timelines is non-negotiable. We aim for a CPI of one or more on every project we undertake. Have a look at what we did for Moro Hub. 

Got a goal or a project in mind? Start it now with Digital Grind.