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.
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.