AR market size reached 200 billion in 2024 Apple CEO said to increase AR investment
AR is following the VR and has become the emerging industry that most technology companies are optimistic about. The latest research report by US market research firm Grand View Research (hereinafter referred to as "GVR") shows that the augmented reality (AR) market is expected to reach 100 billion US dollars by 2024. Due to advances in hardware and mobile software product technology, the AR market will continue to expand.
The Grand View Research report shows that from now until 2024, the expected compound annual growth rate of hardware will exceed 90%. In 2016, hardware devices from companies such as Sony and Microsoft will be commercialized and will continue to grow in 2024. In addition, some companies are working to improve the quality of AR device components such as sensors and processors. Headset (HMD) will become the main force in the growth of the AR market, with a compound annual growth rate of 70% between 2016 and 2024. The widespread adoption of smart glasses will significantly contribute to the growth of AR consumption. For example, Google has partnered with chip vendors to produce camera components and processors for Android phones. Of course, Apple is not far behind.
According to tech blog AppleInsider, Apple CEO Tim Cook confirmed on Tuesday's third-quarter earnings conference call that the company is investing in augmented reality (AR) technology, which he believes is a platform in the early stages of development. "The potential is huge."
Investment bank Paijie analyst Gene Munster previously released a report saying that Apple formed a small team to develop AR products. On Tuesday, he presented Cook with questions related to the popular game Pokemon GO. It is expected that Pokemon GO may bring in $3 billion in revenue for Apple in the next few years.
Cook praised Nintendo and thought that the Japanese company had launched an attractive game. He said that the success of Pokemon GO is partly due to the Apple iOS ecosystem. He later added that the AR element in the game highlights the potential of this new technology.
“It also proves that AR can do a great job,†Cook said. “We have been and will continue to invest heavily in AR technology. We are very optimistic about the long-term prospects of AR, which is considered to be a very suitable technology for consumers. Business opportunities, so we will invest."
However, Cook is not very optimistic about the future of AR as an independent computing platform. “There is a trend in the industry to refer to any new technology as the 'next computing platform',†he said. “Even so, I think AR has a bright future. As for whether it will be the next platform, we will wait and see. But no matter what. How is it, its potential is huge."
Simply put, AR is a layer of digital information superimposed on the real world, like the camera and screen interface used in the Pokemon GO game. More immersive technologies rely on professional transparent screens, but these exotic solutions are still in their infancy and expensive. Many technology companies are investing in the AR field, including Google Glass.
Apple is implementing a strategic acquisition transaction in the AR field, and has acquired face-shifting technology company Faceshift and German AR company Metaio last year. Patent documents show that in addition to external acquisitions, Apple is actively developing AR/VR solutions such as transparent screens, iPhone-based virtual reality systems, and advanced computer vision technologies.
However, Apple still seems to be focusing on short-term consumer products, especially application and application development. "The first priority now is to ensure that our products work well with other developers such as Pokemon GO, which is why you can see so many users collecting iPhones outdoors with the iPhone," he said.
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