Beyond the ability to raise capital, here is how crowdfunding is helping Augmented Reality (AR) vendors and others
For those who are unfamiliar, several Augmented Reality (AR) vendors have used crowdfunding to raise capital for their projects. This has benefited the market in several ways. Firstly, it increases awareness among potential customers. Secondly, it encourages new vendors to enter the market, which, in turn, increases competitions and decreases ices. Thirdly, vendors will have a better idea about the demand for their products. They will be able to involve the potential buyers at the product development stage by directly communicating with them. This can help vendors to manufacture products based on requirements of customers. GoFundMe, Indiegogo, and Kickstarter are some of the popular crowdfunding sites.
According to Research and Markets, vendors in the global mobile AR and VR apps market have adopted crowdfunding strategies to raise funds for their projects. It has increased the awareness among potential customers and has provided enormous opportunities for small vendors to innovate and succeed in this competitive environment.