Market Reality: Apple Presents Bright Future for AR, While Snap Shows Reality of Glum Present

Apple Presents Bright Future for AR, While Snap Shows Reality of Glum Present

We may have to wait a few years before they arrive, but reports of Apple's headset taking shape in Cupertino gives the tech world hope that its white knight for consumer AR is on its way.

Snap's disappointing third quarter financial results, however, give us some pause on the industry's current prospects.

Elsewhere in the business of AR, another front has opened up, with Sketchfab and Google vying to be the destination for 3D content to use in AR experiences.

Apple AR Headsets Rumored for 2020

Less than a week after CEO Tim Cook proclaimed that AR "is going to change everything," Bloomberg reporter Mark Gurman (a frequent source of early and reliable information regarding Apple) now reports, from anonymous sources, that the company will have an AR headset ready in 2019, with an official launch sometime in 2020.

The source also divulged that the device would run a separate version of Apple's operating system...

More details on Apple's headset plans here...

REALITY BITES: Demand for AR designers could change Silicon Valley's landscape as AR apps call for a different user experience and interface than mobile apps or websites, as Evi Meyer writes at Medium.

Tencent Bullish on Snap Inc. Despite Dismal Third Quarter

While Snap's third quarter financial reports disappointed Wall Street, China's Tencent took the opportunity to expand its investment in the social media company. In filings with the SEC, Snap disclosed that it was notified this month by Tencent of its purchase of more than 145 million shares of Class A common stock.

"We have long been inspired by the creativity and entrepreneurial spirit of Tencent and we are grateful to continue our longstanding and productive relationship," read a statement included in the SEC document.

See why Tencent is betting on Snap here...

REALITY BITES: Between virtual try-on apps and mixed reality shopping, AR is en vogue with the fashion industry. Over at Business of Fashion, the CEO at Avametric, Ari Bloom, gives the fashion industry some advice on how to deploy AR in business.

3D Content Space Heats Up as Sketchfab Responds to Google's Poly

Just days after the launch of Google Poly, the marketplace for 3D virtual objects that developers can use for augmented and virtual reality apps, SketchFab, the current leader in the space, is firing back with a major enhancement to its platform.

Image by Willy Decarpentrie/Sketchfab

The company has announced an update to its Android app that adds ARCore functionality. However, with tech giant-backed competitors like Microsoft's Remix 3D, and the new Google Poly, how exactly does Sketchfab plan to maintain its grip on the growing number of AR developers in need of easily accessible virtual objects?

Sketchfab's CEO gave Next Reality a few answers here...

Every Friday, Next Reality reviews the latest headlines from the financial side of augmented and mixed reality. This weekly Market Reality column covers funding announcements, mergers and acquisitions, market analysis, and the like. Check out previous editions of Market Reality for more news you may have missed.

Cover image via Snapchat/YouTube

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