HONG KONG, Sept. 01, 2020 (GLOBE NEWSWIRE) -- MobiusTrend, a market research organization in Hong Kong, recently released a research report on 'The Digitization Process of Apple, Google, and WIMI's Hologram AR'. After experiencing the PC era, the Internet, and the mobile Internet, we will usher in the next computing platform, and a new generation of computing platforms represented by AR is entering our lives.
The releases of Apple's ARKit and Google's ARCoreAR have brought AR (augmented reality) into the public eye and sparked an AR boom. Later, research institutions predicted that the mobile AR business market alone is expected to reach a scale of $100 billion by 2021. Obviously, the two giants' layouts are not just because of the large scale of the AR market, but also because they seem intent to compete for the commanding heights of the next generation of technology. In addition to Apple, Google, Microsoft, Baidu, Tencent, and Alibaba, these giants have all deployed in AR hardware and software, algorithms, engines, and other aspects.
According to the report of Goldman Sachs Group, AR hardware and software will continue their explosive growth over the next ten years. By 2020, the AR market (retail, AR hardware, e-commerce, movies/TV series, games, etc.) will reach $120 billion. By 2025, the market will reach $182 billion, of which $110 billion in hardware revenue, and $72 billion in software revenue.
The report pointed out that much of the interest in AR development is due to smartphones' popularity and the increasing penetration of smartphone technology in new markets. Apps such as Pokemon Go have had a significant impact on their profiles, raising awareness of the technology among the general public and businesses.
This indicates that many industries are beginning to use AR technology for product demonstration purposes, as well as to enhance customer service and training, for example, in the military field to assist in providing real-world experiences. Companies prefer AR technology because it does not require additional hardware, which is different from virtual reality (VR).
Apple, Google, and Facebook are actively developing AR mobile applications, and Apple has adopted the AR function in the iOS11 operating system. This also means that AR function will be popularized in smartphones soon, which will overturn our existing way of life. At present, applications and games created through ARKit have been downloaded and installed more than 3 million times worldwide. Among them, mobile game apps account for the highest proportion, reaching 35%. With the release of iOS11, AR is likely to hit its peak under the impetus of Apple.
WIMI Hologram Cloud is one of China's leading integrated technology solution providers. With the changes in the bandwidth conditions of the 5G holographic communication network, the 5G holographic application market will usher in an explosion. Meanwhile, high-end applications such as holographic interactive entertainment and holographic conferences will gradually become popular in some areas, such as holographic social networking, holographic communication, holographic navigation, and holographic home applications. WIMI's plan is based on the holographic AI face recognition technology and the holographic AI face change technology as the core technology, with multiple technologically innovative systems to support the holographic cloud platform services and 5G communication holographic applications.
According to Frost & Sullivan, WIMI is the leading holographic AR application platform in China, regarding total revenue in 2019. By leveraging its strong technical capabilities and infrastructure, it can provide excellent products and services and conduct its business in an efficient manner. The core business of WIMI is holographic AR technology for software engineering, media manufacturing services, cloud, and big data.
WIMI plans to continue to improve and strengthen existing technologies, maintain industry leadership, and create an ecological business model. At present, the holographic face recognition technology and holographic face change technology of WIMI holographic cloud are being applied to the existing holographic advertising and entertainment business, and the technology is also being constantly upgraded, in order to make breakthroughs in more industry fields. The goal of WIMI Holographic cloud is to establish a commercial ecosystem based on the application of holographic technology.
WIMI intends to continue to invest various resources to strengthen its ability to develop holographic AR content. WIMI holographic cloud is committed to enriching the holographic content portfolio and providing high-quality holographic experiences for its customers and end-users. WIMI holographic cloud plans to continue to expand the holographic content library through various approaches.
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