Last month we put out an introductory article on use cases for AR/VR. In it we outlined some potential ways in which AR/VR might impact industry and individuals. We also tried to provide some examples of how AR/VR technology is being used in the real world today to great benefit.
Tech news outlet, Ars Technica, just published an excellent article on how Apple’s ARKit 2 works and why the company is betting on augmented reality technology as a future growth vertical. Apple has essentially created a set of developer’s tools that drastically simplifies the process for creating AR-enabled applications. The original ARKit launched in 2017 and as Apple puts it, “combines motion tracking, scene capture, advanced scene processing, and display conveniences to simplify the task of building an AR experience.
AR/VR is starting to become a major technology trend with massive implications across global industries. Like many ground-breaking technologies, AR/VR has had its share of fits and starts since first being introduced in the 1990s. New technologies tend to follow an S-curve of adoption, with an early period of low penetration as the technology is improving, followed by a growth take-off phase, where the technology breaks into mainstream adoption.
Magic Leap, a major AR startup backed by investments from Alphabet (NASDAQ: GOOG), Alibaba (NYSE: BABA), and others, gave guidance for a summer launch of its highly anticipated AR headset. The company has spent 4 years developing the technology and has shied away from giving early demonstrations, however the company offered a brief video overview of the technology in action (see below). [embed]https://www.
Augmented reality (AR) advertising is getting it’s first major platform. Facebook (NASDAQ: FB) announced companies will now be able to showcase AR ads in the Facebook News Feed. Users will be given the option to virtually “try on” merchandise, such as sunglasses, by incorporating the user’s face in the ad.
Bank of America Merrill Lynch analyst Wamsi Mohan recently announced new revenue forecasts for Apple’s (NASDAQ: AAPL) AR initiatives. Mohan believes premium AR apps and associated incremental device sales could add an additional $8 billion in revenue for the company. If Apple were to pursue the much-rumored AR eyeware product, Mohan see his revenue forecast rising to $11 billion.
We are living in an increasingly digital world. Advertisers know this, and have adjusted their budgets accordingly. Companies such as Google and Facebook are built around massive digital ad networks.
It’s been over two years since the first consumer-quality virtual reality (VR) headsets hit the market. While the Oculus Rift and HTC Vive may have ushered in a new era of personal display devices, both still face challenges in terms of adoption. Like any first-generation technology, they offered only a taste of what could be possible.
This article is the first part in a series of articles we will be releasing in the coming months covering different use cases for augmented and virtual reality (AR/VR). We believe AR/VR has the potential to be a revolutionary technology and the next step in the evolution of computing platforms. Each iteration has taken the user closer and into more prolonged contact with the digital world, with AR/VR is the next logical step: integrating the digital world with the real, in the case of AR, and fully immersing users in the digital world, in the case of VR.