Augmented Reality in Financial Services: Strategic Intelligence
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This report provides an overview and analysis of the current state of the augmented reality (AR) market within financial services. It examines the size of the market on both a global and country level, and highlights some of the most prominent AR providers. In addition, it examines challenges and high-profile failures in this space.
While we forecast that AR adoption will increase across most industries, financial services companies have yet to see tangible benefits from the technology. Insurers are using AR to remotely complete property inspections, while payment companies are exploring integrating digital payments with AR smart glasses. However, banks and wealth managers should avoid AR for the most part. Despite the novel marketing opportunities the technology provides, most AR initiatives within financial services are small scale and provide little tangible value.
Scope
As per GlobalData forecasts, the global AR market will exceed $87 billion by 2029, up from nearly $30 billion in 2024 at a compound annual growth rate of 20% over this period.
Tech-forward banking and payments companies have explored the potential applications of AR across various stages of customer and product lifecycles, ranging from marketing new products to onboarding new customers and boosting the subsequent customer experience.
The vast majority of banks and wealth managers have stopped their AR initiatives. Insurers are using AR technology to complete remote damage assessments, while payments companies are exploring the integration of AR headsets with payment methods.
Reasons to Buy
Understand AR as a technology, as well as how financial services firms can use it effectively.
Learn where FS AR initiatives went wrong in the past, and gain insight as to relevant use cases for this technology.
Identify the different companies operating within the AR space.
Accenture
Acorns
Ageas
AiBorne Tech
AIB
Alexa Mall
Alipay
Allianz
Ally Financial
American Express
Ant International
Apple
Apple Maps
Arnold
AXA
Barclays
Bank of America
BBVA
Blippar
BNY Mellon
BNP Paribas
Boeing
Capital One
Coachella
Coillte Nature and Forestry Partners
CommBank
Covent Garden
Decentraland
Delta Air Lines
Desjardins Bank
Deutsche Bank
Direct Line
Fidelity
Fiserv
GEICO
GlobalData
Google Glass
Google Maps
Google Play Store
Groove Jones
House of Holland
HSBC
INDE
JPMorgan Chase
JP Morgan Asset Management
J.P. Morgan
King’s Cross Station
Lercari Group
Liberty Mutual
Lloyds Banking
Los Angeles Kings
LV=
Magic Leap
Mastercard
Microsoft
mBank
Mercury Insurance
Mimesy
Monese
Monopoly
NatWest Group
National Centers for Environmental Information
Niantic
Nordea
NFL
Nvidia
Nvidia Omniverse Enterprise
OCBC
Paris Olympics
PayPal
Plain Concepts
PNC
RBC
realestate.com.au
Revolut
Rokid
RP Data
Santa Lucía
Santander
SightCall
Sjova
Snapchat
Societe Generale
TD Bank
TechSee
The Sandbox
Tractable
Treeview
Tropos AR
Tokio Marine Holdings
UOB
USAA
Visa
Wells Fargo
Wimbledon
World Economic Forum
Worldline
Wunderman Thompson
Zappar
Zappar Creative Studio
Zurich Insurance
3rockAR
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