New Projects And Product Launches To Bring New Dawn Based On Augmented And Virtual Reality

AR and VR are technologies that modify the way of observation and interaction with the environment. Both the technologies have different hardware requirements and the scope in which it changes the surrounding. Augmented reality like its name suggests, augments the existing surrounding with virtual objects and sensual experiences such as characters, audio, and physical reality. Virtual Reality, on the other hand, creates an almost fully virtual environment, thereby detaching the user from the real world. 

AR does not require specific hardware except the smartphone to run the application. But for some advanced uses of AR, dedicated eyewear is a requirement. In addition, AR software is easier to develop over VR, as it does not create rendered backgrounds. However, VR requires a special headset and speakers to work, which minimizes its accessibility for the users to a certain extent. 

As an emerging trend, both AR and VR technology are likely to present a load of stimulating hardware with exciting experiences. For now, the gaming industry is thriving with the latest advancements and innovations based on AR and VR. But also, soon it will be an exciting concept for people everywhere as the industry hold the potential to develop new perception. Moreover, the technologies are getting popular in the gaming vertical and other applications. And the market players are therefore focusing on bringing innovations. The industry is coming up with new projects and advanced products and the players are adopting different strategies to maximize the market growth. Moreover, here are some of the latest happenings that are expected to thrive in the market in the future.

Partnerships are one of the most followed strategies among the market players to provide newer applications. On the other hand, various social media companies have started investing in AR thereby partnering with the industry players. Likewise, Social media giant Facebook as well had announced a partnership, in September last year, with spectacles manufacturer Ray-Ban for Project Aria. Through this project, Facebook aimed to develop augmented reality (AR) glasses, codenamed Gemini. Recently, in manual uploaded by the company to US Federal Communications Commission (FCC) has exposed some more information based on the project. According to which the glasses will be equipped with a Qualcomm chip, proximity sensor, and camera sensors. In addition, the glasses will be attached to a magnetic charger which can also be helpful for data transfer. The device will also be having a companion app that can be used to upload data to the glasses and change settings.

On this project, furthermore, Facebook stated that the sensors used in the project will capture the user’s video and audio along with location information and eye-tracking. With the on-device computing power on the glasses, the information will be stored and encrypted so that it can be helpful to understand AR working in the real world when uploaded to spate back end storage.

Another tech giant Apple is also working on its AR glasses that are expected to be launched in the middle of the decade. The AR glasses are expected to use Sony’s micro-LED displays along with an independent power supply and storage. Also, the company’s new M1 chips are expected to be used in the headsets. Earlier, the company launched the AR Kit platform, which enables developers to develop augmented reality software for Apple’s services. 

New product launches are another major trend followed by the market players to expand the market progress. A Chinese online entertainment service iQIYI has recently unveiled its latest flagship virtual reality (VR) headset named the QIYU 3. The company aims to reinforce its quality for VR digital entertainment ecosystem. The headset, furthermore, presents various technical advancements including a dual-screen solution with a resolution of 4320*2160 and a true 4K+ level in native resolution. Powered by Qualcomm Technologies, the headset has 8GB DDR4 RAM and the XR2 offers high performance for games and other digital entertainment in VR. The company moreover with its products aims to offer superior multi-sensory experiences to consumers.

Innovations and further advancements are leading the industry to elevate. In a report published by Allied Market Research, global AR/VR chip market is expected to garner $7.76 billion by 2026. The demand for AR/VR chips in the gaming vertical is highly increasing. Also, the need for the adoption of AR/VR in various applications is leading to boost the demand growth. And as technological advancements taking place in this area with more new projects and products, the market is estimated to grow even more in the approaching time.

Author Bio

Akshita Pacholi has accomplished Master degree in English Literature and presently is working as a content writer with Allied Market Research. She loves reading, writing short stories, poems, and blogs. She is a selective sports’ admirer and is curious to learn new things.