HONG KONG, Aug. 13, 2020 (GLOBE NEWSWIRE) -- MobiusTrend, a market research organization in Hong Kong, recently released a research report on 'Innovative Hologram AR Companies Attract More and More Attention of the Capital'. With the evolution of technologies such as 3D sensing, chips and algorithms, display technology, and means of communication, the AR investment track, which used to be hot in previous years, will regain its heat in 2020. For example, Microsoft has released the second-generation Hololens. Magic Leap and Apple also plan to launch a new generation of AR consumer terminal in 2020-2021. It is predicted that there will be bestsellers products in the market. Meanwhile, more new forms and new opportunities will emerge. Apple (ARKit), Google (ARCore), Facebook (Camera Effects), as well as computer vision/machine learning (CV/ML), are attracting attention and investment from Silicon Valley, China, and around the world.
WIMI Hologram Cloud Inc., a leading hologram AR company, announced the closing of WIMI's public offering. Participants in the offering are a selected group of institutional investors, including WB Online Investment Limited, an affiliate of Weibo Corporation.
A few days earlier, the artificial intelligence conference was held, holographic display technology aroused heated discussion. Moreover, holographic technology attracted the favor of the technology and capital field. The core of WIMI's business is holographic AR technology, which is used in software engineering, content production, cloud, and big data. And it provides customers holographic services and products, which are based on AR.
WIMI submitted its 20-F annual report to the SEC on April 29 for the year ending December 31, 2019. According to its annual report, WIMI's revenue in 2019 was 319 million yuan (CNY, same below), up 41.7% from 225 million yuan in 2018. Gross profit was 173 million yuan, up from 140 million yuan in 2018. Operating profit was 113 million yuan and 100 million yuan in 2018. Net profit was 102 million yuan, up 14.6% from 89 million yuan in 2018, and diluted earnings per share 0.94 yuan, up from 0.88 yuan in 2018.
For the year ending December 31, 2019, Holographic AR ads produced by using the company's advertising solutions, generated about 9.7 billion browses, up 47.0% from about 6.6 billion browses in 2018.
From the above data of WIMI, it is not hard to see that the business growth of WIMI is in a benign development trend. From 2017 to 2019, the financial revenue of the three years has been increasing continuously. The amount of revenue generated from this market is rising, and the market development is robust.
WIMI's business application scenes are mainly gathered in five professional fields: home entertainment, light-field cinema, performing system, commercial release system, and advertising display system. WIMI has integrated the identities of holographic AI cloud mobile software developers, service providers, and operators into one, and has become one of the leading holographic AI integration platforms in China.
Big tech companies such as Microsoft, Amazon, Apple, Facebook, and Google are the positive forces for commercialize AR. It is estimated that the user base of AR support products, such as mobile devices and smart glasses, will exceed 2.5 billion by 2023. The industry's revenue will reach $75 billion.
According to Gartner, at least 100 million users are expected to use the shopping technology supported by AR in 2019. And it is one of the hottest retail trends this year. The boom in mobile devices using augmented reality means that, currently, the field is dominated by mature technologies. Developers, retailers, and customers can now easily treat this as part of their daily experience.
According to research reports, 48 percent of consumers said they would prefer to buy from a retailer who offers an augmented reality experience. Unfortunately, only 15% of retailers currently offer the AR experience opportunities. Only 32% of retailers said they planned to deploy virtual or augmented reality applications within the next three years.
What is more, the development of AR technology has reached a fantastic level over the years. For example, the use of holographic AR technology to resurrect Michael Jackson's concert. These applications can show the powerful effects of holographic AR technology. Maybe soon, AR technology can also be used in education and military, which can directly simulate the scenes that people want. Through AR technology, we can communicate with people all over the world in the most direct way. Moreover, with AR technology, doctors can more intuitively diagnose the disease and find more information about the disease.
AR will really change the way we see the world. Imagine yourself walking or driving down the road. With an augmented reality display (which eventually looks like a pair of ordinary glasses), a digitized image appears in your field of vision, and the sound is played in sync with what you see. The information will update at any time to reflect brain activities. In this article, we can find out the future of this technology, what it consists of, and how it can be used.
Eventually, AR technology will integrate into our world, which will be a great achievement of human, creating new levels of wealth, new social issues, and immeasurable opportunities for billions of people.
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