AR VR everywhere, but not a clear winner…..
- Facebook’s bet on Oculus seems to be finally paying off – OASIS-style VR playground Horizon enters public beta which is comparable in concept if not scope to the fantastical VR world of Ready Player One (Remember Steven Spielberg’s movie, anyone?). It acquired Scape Technologies early this year and other notable acquisitions include – Beat Games, CTRL-Labs, Sanzaru Games etc
- Apple acquires VR Video Conferencing company Spaces as it continues its buying spree and foray into virtual and augmented reality. Other notable acquisitions in the recent years – NextVR, Camerai, Akonia Holographics, Vrvana, Metaio, SensoMotoric Instruments, IKinema, Faceshift, emotient,Flyby Media etc.
- Amazon – Patents AR tech to show product reviews on body parts. The idea described in Amazon’s patent would work by making people wear special augmented reality glasses which could be connected to their smartphone.
- NexTech AR acquires Amazon e-commerce launch platform, Next Level Ninjas. Next Level Ninjas matches brands and product testers on its VIP Product Testers site, helping brands gain business momentum. The platform works across multiple e-commerce platforms including Amazon, eBay, Shopify, Walmart, Jet, and Etsy. By this acquisition it is now able to tie together its augmented reality (AR) offerings for e-commerce into one offering, creating a complete AR e-commerce ecosystem.
Let’s look at the market trends in the AR and VR space:
According to Valuates Reports, the global augmented reality and virtual reality market size stood at USD 11.35 Billion, and the industry is forecasted to reach USD 573.96 Billion by 2025, rising at a CAGR of 63.3% between 2018 and 2025.
The graph below shows the top ten jurisdictions for VR and AR patent filings. The US accounts for ~32% of the global IP filings and is at the top place followed by China.
The major players are all big tech companies like Microsoft, Sony, Alphabet, Facebook etc. who have been actively filing IP in this segment. A 10 year old startup MagicLeap is amongst the top five spots with its vigorous filings in the last three years.
With the AR/VR industry still in the early stages, there will be many opportunities for innovative tech startups to get their foot in the door. If you are one and would like to know more about the space and opportunities contact us.