HONG KONG, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Tailor Insight, the fintech market research organization, recently released a research report "2020 World VR Industry Conference Revealed the Glorious Future of Hologram AR industry, a Great Opportunity for WIMI". The 2020 World VR Industry Conference was held in Nanchang, Jiangxi on October 19. Some foreign guests will also appear at the conference by way of holographic speeches. Since the beginning of this year, VR/AR has played a positive role in the two main fronts: the prevention and control of COVID-19, and the resumption of work and production. Solutions such as 5G AR remote consultation system, AR ward rounds, VR remote observation and guidance system in the ICU, while improving the efficiency of diagnosis and treatment, reduce the risk of infection of medical staff and family members during treatment and visits. Non-contact AR temperature measurement and AR vehicle management and control systems can effectively avoid the crowding of people and vehicles, and can reduce the risk of cross-infection. VR education, VR collaborative office, VR/AR remote inspection, and other new scenarios have changed the way people study and work, and improved the efficiency of information sharing. New forms such as VR house viewing and VR tourism have brought offline businesses online, bringing the new service experience. Virtual reality has become an important driver of intelligent transformation and will give birth to a huge industrial space.
According to the organizer, VR/AR, holographic display, artificial intelligence, and other cutting-edge technologies were introduced throughout the conference, which enhanced the experience, interactivity, and fun of the conference. The conference creatively adopts the interactive form of AI holographic host and host presented at the conference physically, and some foreign guests will also appear in the conference through holographic speeches. All guests of the Industrial Ecology Sub-forum will enter the VR venue through virtual stand-in, replacing the real meeting with a completely virtual interactive form. At the same time, the conference also introduced the opening AR special effects, cloud venue 5G VR live broadcast, intelligent simultaneous interpretation, intelligent cloud customer service, and other highlights, providing participants with live participation, virtual venue participation, VR live participation, and online video live participation. All-around and multi-dimensional ways of participation made the conference truly the best commentary on "VR make the world more wonderful".
With the advent of 5G, the peak rate of wireless communication technology has increased to the magnitude of 20Gbit/s, and the latency can theoretically be reduced to 1ms, which is expected to clear the application barriers of current AR/VR products in data transmission, and significantly improve user experiences of the product. By doing these, the maturity and development of the AR/VR market are expected to be promoted.
Greenlight predicts that the scale of the global virtual reality industry will exceed 200 billion yuan in 2020, including 160 billion yuan for the VR market and 45 billion yuan for the AR market. In terms of the number of terminals, IDC forecasts that the overall terminal shipments (AR+VR) will be close to 40 million in 2020. In the era of 5G, there should be a lot of imagination space. The emergence of application scenarios will make the holographic AR appear explosive growth. In the next 3-5 years, the large-scale application of 5G will drive the holographic services.
On April 1, 2020, WIMI was listed on NASDAQ and became the first holographic AR stock in the world. WIMI is focused on computer vision holographic cloud services. The company plans to use AI face recognition technology and holographic AI face change technology as core technologies, through multiple innovation systems to support the holographic cloud platform service and 5G communication holographic applications. It is expected that once 5G networks begin to extend to more areas, then the commercial use of holographic technology will be huge gains can be obtained.
Maxim Group, LLC, in its stock research report on WIMI, pointed out that WIMI will keep a leading position in the AR market for a long time. Zion Research, which is increasingly using augmented reality for a variety of purposes, expects the global AR market to grow at a compound annual rate of more than 63 percent by 2025.
Recently, WIMI extended to the semiconductor field and announced the establishment of a joint venture to carry out the semiconductor chip business. At present, it is reported that the semiconductor industry application demand in the field of holographic 3D vision is growing rapidly, so the company is trying to extend from the application layer to the chip field through the strategic direction of combining soft and hard software solutions of holographic 3D vision, namely the strategic derivative upgrade to the semiconductor field.
In addition, some industry insiders also expressed optimism that WIMI will have the opportunity to expand its AR holographic technology into new applications and business layers (conducting semiconductor chip business). As a profitable company with a long-term growth market, WIMI is in a favorable position for rapid revenue growth.
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Alex Xie, Senior Analyst
Fintech Research Team, Tailor Insight Research
info@TailorInsight.com
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