HONG KONG, Aug. 11, 2020 (GLOBE NEWSWIRE) -- MobiusTrend, a market research organization in Hong Kong, recently released a research report on 'Strategic Investment in Holographic AR Application Platform WIMI - Sina Weibo's Next Move in 5G Era'. Recently holographic display technology aroused a heated discussion, and again attracted the entire technology and capital field. According to SEC, WIMI Hologram Cloud Inc. announced the closing of WIMI's public offering. Since the WB Online Investment Limited, an affiliate of Weibo Corporation, is one of the participants, which may indicate that Sina Weibo is further increasing its influence in the AR field.
Based on the augmented reality technique, AR products can provide a variety of services. It is becoming a substitution for mobile phones and other devices. Augmented reality maintains a state of rapid development with the increase of products and the enrichment of content. It is estimated that the market will increase to more than 118.7 billion yuan in 2020.
As the early stage of AR applications in the 5G era, although consumers did not fully embrace this future technology, most IT giants have already finished their layouts and plans in the AR field. Google's $500 million investment in AR startup Magic Leap was making a big splash, which caused the same effect as Facebook's $2 billion acquisition of VR team Oculus Rift did. Meanwhile, Apple also acquired Metaio, an old German AR company.
Amazon, Apple, Facebook, Google, and Microsoft are aggressively making new investments. The outbreak of COVID-19 makes these companies' offerings even more indispensable, as people rely on the products and services of the tech giants to shop online, entertain at home, keep in touch with loved ones, and so on. The surge in usage has given these companies a new incentive to invest in this area, at a time when other industries are retrenching. Moreover, technology for message passing and online functions has soared in popularity, which creates opportunities for tech giants.
According to the data from authoritative research institutions, by 2024, the market size of AR/VR products will reach 165 billion US dollars, or over one trillion yuan (CNY), and grow at high speed of 80%. As the AR screens become a trend, and the enrichment of AR content, AR technology will become a portable computing tool, which can further promote the integration of online information and offline physical operations.
Why did Sina Weibo choose WIMI? Sina Weibo will expand its layout in the AR field and build an ecosystem around streaming media.
Public data shows that WIMI founded in 2015. After five years, it has grown into one of China's leading holographic cloud integrated technology solutions providers. According to WIMI's annual report, WIMI's holographic business began to increase gradually in 2017, with revenues of 192 million yuan, 225 million yuan, and 319 million yuan, respectively from 2017 to 2019, with growth rates of 17% and 41%, showing an accelerating momentum. The net profit from 2017 to 2019 was 73 million yuan, 89 million yuan and 102 million yuan, respectively.
The global holographic AR market has grown rapidly and has attracted a large amount of investment since 2016, making a great contribution to the growth of the industry. Several organizations, including research and development, are investing heavily in this technology to develop solutions for businesses and consumer groups. Over the years, holographic augmented reality has been widely used in games, media, and marketing applications. Its growing use in different sectors, such as advertising, entertainment, education, and retail, is expected to drive demand during the forecast period.
WIMI, as a leading holographic AR application platform in China, has vast market potential in the AR value chain. With cutting-edge technology capabilities, the high-quality user experience, and an experienced management team, WIMI has built a comprehensive and diverse content library, among holographic AR solution providers. It is expected to grow in the coming years.
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