This is most prevalent to date in virtual worlds platforms, but as Gartner states in their 2010 Hype Cycle report:

Augmented reality, context and the real-world Web. The migration of the Web phenomenon — and technology in general — beyond the desktop and into the context of people’s everyday lives is creating new opportunities for personalized and contextually aware information access. Augmented reality is a hot topic in the mobile space, with platforms and services on iPhone and Android platforms, and it represents the next generation as location-aware applications move toward the plateau. Other elements such as 4G standard, sensor networks and context delivery architecture are evolving more slowly, but will play a key role in expanding the impact of IT in the physical world.

At ultraVilot, our mission is to help you effectively take advantage of these emergent technologies.