The Global Augmented Reality (AR) Markets Projected to Exceed $198 Billion by 2025
Financialnewsmedia.com News Commentary
PALM BEACH, Florida, Jan. 22, 2020 /PRNewswire/ -- Every new report on the augmented and virtual reality markets just seem to keep leapfrogging over previous forecasts. A recent report from MarketsAndMarkets has the AR market estimated to grow from USD 10.7 billion in 2019 and projects it to reach $72.7 billion by 2024 with an expected CAGR of 46.6% from 2019 to 2024. A report from Statista on AR/VR markets sees revenues for both markets to grow to around $160 billion by 2023. However, another report from Statista that looks farther ahead in time, trumps the other reports with an estimate that says that the AR market size alone, is estimated to increase by over $195 billion U.S. dollars, increasing from roughly $3.5 billion in 2017 to over $198 billion U.S. dollars in 2025. Growing consumer acceptance of the various AR/VR enhanced consumer devices available which are being introduced into everyday life at a rapid pace, is a major factor in the growth of these markets. Active companies in the markets this week include Hawkeye Systems, Inc. (OTCQB: HWKE), Sony Corporation (NYSE: SNE), NVIDIA Corporation (NASDAQ: NVDA), Intel Corporation (NASDAQ: INTC), Lumentum Holdings Inc. (NASDAQ: LITE).
It's not just in entertainment or safety sectors but AR has played a more important role in the healthcare sector too. The healthcare sector has witnessed rapid technological advancements over the years, and various kinds of advanced imaging equipment have been introduced in the healthcare sector. The healthcare sector has one of the most important and practical applications of AR in the current market scenario. AR can be used to provide a virtual view of a patient, in which a surgeon can see the condition of the patient's body parts. This can help the surgeon to conduct minimally invasive surgeries. The use of AR modeling and 3D visualization is expected to be of great help to the healthcare sector. The use of AR for improving fitness, teaching complex subjects to medical students, training doctors, managing pharmacy, and caring and supporting patients after they leave the hospital is driving the growth of the AR market in this sector.
Hawkeye Systems, Inc. (OTCQB: HWKE) NEWS: Hawkeye Systems' Future Subsidiary Propels Next Evolution of Immersive Filmmaking with New Multi-Camera System - Hawkeye Systems is proud and excited to introduce future subsidiary Radiant Images' Meridian, an innovative light field capture system that aims to push the next evolution of immersive content creation and filmmaking. The Meridian represents the holy grail for content: photographic 6DoF (six degrees of freedom).
Commissioned by Sony Electronics, Radiant Images has developed the world's first truly portable light field camera system. The Meridian captures live-action 6DoF, footage that enables the viewer to move through and look around in while still maintaining the look and feel of live-action cinematography.
Until now, the screen acted as the 'fourth wall' separating the audience from the action in front of their eyes. With the Meridian, filmmakers remove the fourth wall and bring an audience into a VR environment without compromising image quality.
"Immersive capture technology innovation is focused on moving beyond VR and allowing audiences the ability to move within their stories," said Michael Mansouri, co-founder of Radiant Images. "This opportunity with Sony enabled us to explore new possibilities and achieve these forward-thinking solutions. With the Meridian, content creators can achieve truly impactful results."
When viewing a light field volume from within it, the viewer can enjoy a truly lifelike, immersive sensation of virtual presence with full 6DoF, enabling movements forward-back, side-to-side up-down or twisting one's head. Though developed with the Sony RX0 in mind, The Meridian capture system - like most of Radiant's innovations - is camera agnostic, meaning it can be used with a range of suitable cinematic cameras. Read this full press release and more HWKE here: https://www.financialnewsmedia.com/news-hwke/
Other recent developments in the tech industry markets this week include:
Sony Corporation (NYSE: SNE) recently exhibited at the CES 2020 in Las Vegas, Nevada, where it introduced a range of initiatives which harness the power of creativity and technology, under the theme of sustainable value creation that all of Sony's diverse businesses strive to achieve as part of its corporate direction of "getting closer to people." Exhibits ranged from technologies Sony is pursuing in order to get closer to creators and users by enabling them to deliver `reality,' such as high resolution video and sound in three dimensional space, in addition to `real-time' technologies that support every stage of the production process through to the viewing experience, as well as various combinations of these technologies.
The Sony booth also featured a virtual production set which transforms the way motion pictures and TV shows are made. The set has been captured from the Sony Pictures studio lot as photo-realistic volumetric data and is shown as a background image on a Crystal LED display. The background changes in real time with the movement of the camera, ensuring the final image has the proper perspective and depth. Virtual production empowers the creator's imagination by allowing directors, cinematographers, and actors to experience the scene as if they are really there, and provides creative flexibility where film production can take place at any time.
NVIDIA Corporation (NASDAQ: NVDA) recently unveiled new G-SYNC® displays with a 360Hz refresh rate, providing esports enthusiasts and competitive gamers with the fastest gaming displays ever made. At 360Hz, game frames are displayed once every 2.8ms—up to 6X faster than traditional gaming displays and TVs.
NVIDIA and ASUS are showcasing the world's first G-SYNC 360Hz display--the ASUS ROG Swift 360--at this week's Consumer Electronics Show (CES) in Las Vegas. The display, which will be available later this year, pairs perfectly with GeForce® RTX®, the world's fastest gaming GPUs, to deliver the absolute best competitive gaming experience.
Intel Corporation (NASDAQ: INTC) recently announced a collaboration with AREA15, one of the first purpose-built experiential retail and entertainment complexes. To thrive in the digital age, traditional retailers and malls face a reinvent-or-die reality. AREA15 is tackling this issue by offering live events, immersive experiences and activations, and monumental art installations, employing ground-breaking technology and much more for the retail environment.
"Today, only top retailers can afford to explore and implement experiential design in their stores. We believe immersive, authentically engaging and inspiring experiences in retail are not only possible, but should be accessible for all. Ecosystem collaboration is in Intel's DNA. AREA15 will help provide scalable, world-class experiential retail solutions for retailers and brands of all sizes."
Lumentum Holdings Inc. (NASDAQ: LITE) News: Ambarella, Inc. (AMBA), an AI vision silicon company, Lumentum (LITE), a market-leading designer and manufacturer of innovative optical and photonic products, and ON Semiconductor (ON), a leading provider of CMOS image sensor solutions, recently announced a joint 3D sensing platform for the development of intelligent access control systems and smart video security products such as smart video doorbells and door locks. The platform is based on Ambarella's CV25 CVflow® AI vision system on chip (SoC), structured-light powered by Lumentum's VCSEL technology, and ON Semiconductor's AR0237IR image sensor. Ambarella, Lumentum, and ON Semiconductor will demonstrate the platform during CES 2020.
Traditional structured-light solutions need to use both an infrared (IR) camera and a separate RGB camera and typically, a dedicated ASIC for depth processing. This new platform leverages a single ON Semiconductor AR0237 RGB-IR CMOS image sensor to obtain both a visible image for viewing and an infrared image for depth sensing. The Ambarella CV25 AI vision SoC powers depth processing, anti-spoofing algorithms, 3D facial recognition algorithms, and video encoding on a single chip, significantly reducing system complexity while improving performance.
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