HONG KONG, Nov. 18, 2020 (GLOBE NEWSWIRE) — Tailor Insight, the fintech market research organization, recently released a research report “Facebook’s LBS AR and WIMI’s AR chips, the giants seek breakthroughs in the Hologram AR field”. With the advent of the 5G era, AR/VR technology has entered the substantive application stage. According to the forecast of Greenlight, 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.
After the launch of 5G, the first scene application will accelerate the development of VR/AR, and the growth rate of the Chinese market will be higher than that of the global market. Therefore, with the blessing of 5G, the communication transmission shortcomings of immersive game scenarios such as VR/AR will be compensated, and it is expected that the commercial use of VR/AR of immersive games will accelerate. According to the research of the China Academy of Information and Communications Technology, the global virtual reality industry scale is close to 100 billion yuan, and the compound annual growth rate of 2017-2022 is expected to exceed 70%.
Facebook is one of the earliest technology companies to set up the VR field. As early as July 2014, amidst the doubts of countless people, Facebook acquired the cutting-edge virtual reality manufacturer Oculus for $2 billion.
Recently, Gowalla, the former competitor of LBS location-sharing application Foursquare, announced its return and transformation into an LBS AR company after being acquired by Facebook for $3 million in 2011. It is reported that Gowalla has relevant experience in location sharing technology, so it hopes to combine this advantage with AR and launch a global-scale LBS AR social game in the spring of 2021, which will be gradually opened to various cities.
According to the information, Josh Williams, the founder of Gowalla, briefly worked for Facebook after the company was acquired by Facebook. Many years later, he decided to buy back the Gowalla brand. By using AR technology, Josh Williams, with another co-founder Patrick Piemonte, intends to continue the development of Gowalla.
Gowalla was incubated at the Form Capital venture capital company and once again returned to the public eye. After the founder Piemonte left Gowalla before, he founded an AR company called Mirage, so he has experience in both AR and geographic sharing. At present, Gowalla has not disclosed more details of this LBS AR game. However, Williams revealed that the inspiration for the game comes from Nintendo’s “Animal Crossing”, and the form may also be similar to “Pokemon Go”. Meanwhile, this game contains two elements, that is, game and social. He added: The focus of this game is not to fight against monsters or complete tasks, but to focus more on experience, allowing players to take a fresh look at the world around them through AR.
WIMI AR+ chip track
According to Maxim Group, LLC’s stock research report on WIMI Hologram Cloud, WIMI is in a leading position in the augmented reality (AR) long-term growth market. Zion Research predicts that by 2025, the compound annual growth rate of the global augmented reality (AR) market will reach over 63%. Companies are increasingly using augmented reality technology for various purposes. Frost & Sullivan predicts that the total revenue of China’s Hologram AR industry will grow by 83%, from 3.6 billion yuan (approximately USD 5 billion) in 2017 to 455 billion yuan (approximately USD 65 billion) in 2025.
According to reports, WIMI Hologram Cloud announced the establishment of a wholly-owned subsidiary, Lixin Technology Co., Ltd. (“Lixin Technology”), to accelerate the research and development, sales, and related holographic vision technical services of the holographic vision intelligent robots. This company’s initial registered capital of 200 million yuan (CNY), and it will focus on a new upstream business in the domestic smart product market, as well as the R&D and sales of semiconductor chips, to further enhance the company’s competitiveness.
Lixin Technology will be based in Hainan province and enjoy tax incentives and government support in the fast-developing semiconductor industry, industrial and automation technologies, the applications of intelligent vision and holographic vision, and many other aspects. WIMI hopes its new subsidiary will bring integrated circuit design firms with a wide range of proprietary technology to help develop the fabless semiconductor business. The investment and establishment of Lixin Technology are in line with the company’s requirements for optimizing supply chain management, reducing costs, and enhancing competitiveness. Besides, it also keeps in accordance with the company’s requirements for continuous enhancements of innovation, design, and technical capabilities.
At present, many technology giants such as Qualcomm, MediaTek, and Nvidia have layouts in the ecological chain fields such as artificial intelligence, 5G, and the Internet of Things. The demand for upstream suppliers is no longer the supply of simple electronic components or products. Higher requirements are put forward for suppliers’ technical service capabilities, comprehensive solution provision capabilities, and one-stop value-added service capabilities. With the increasing demand for Hologram 3D visual related semiconductor application solutions, WIMI will combine Hologram 3D visual market application demanded scenarios to provide corresponding semiconductor solutions to meet market needs, and finally achieve the purpose that promotes the application and popularization of Hologram 3D visual technology in the semiconductor industry.
About Tailor Insight
Tailor Insight provides easy and quick solutions that allow customers to capture, monitor, and audit market data from a holistic view down to an individual task on market research and industry trend insights. For more information, please visit http://www.TailorInsight.com