The business of enabling the development of augmented reality experiences appears to be as lucrative as AR app development itself.
Apple is already reaping the rewards for its own AR toolkit, with more than 13 million installs of ARKit apps in the six months since its launch. Meanwhile, Google is chomping at the bit to facilitate the development of multi-user AR experiences, backing yet another AR cloud platform. And Snap recently acquired its own 3D game engine that's capable of browser-based AR experiences.
A report from app data firm Sensor Tower reveals that more than 13 million ARKit apps have been installed on iPhones and iPads within the first six months since the toolkit launched with iOS 11.
Nearly half of all installs are games, a share that has increased by about a third since Sensor Tower's initial analysis began three months ago.
Find out which ARKit apps fared the best...
REALITY BITES: A new report by BIS Research projects that the global augmented reality market will reach $3.48 billion by 2025.
Google's AI investment arm, Gradient Ventures, has joined a $10.5 million round of funding for Ubiquity6 and its platform for shared augmented reality experiences, just weeks after Google's GV fund backed a competing AR cloud platform.
The round was led by Index Ventures, with First Round Capital, Kleiner Perkins, LDVP, A+E ,and WndrCo also participating.
Keep reading to find out about Ubiquity6 and Google's growing ecosystem of AR development investments and tools...
REALITY BITES: Speaking of AR app development, Steem has closed a seed funding round of $3.7 million for its home services platform.
With its recent acquisition of 3D gaming engine PlayCanvas, Snapchat parent Snap, Inc. appears to be preparing a challenge to the existing players in the world of game development, particularly in terms of augmented and virtual reality gaming.
The acquisition appears to have taken place last year based on financial records uncovered by Business Insider (paywall) that detail a transfer of PlayCanvas shares to Snap in May 2017. Snap subsequently filed a trademark for PlayCanvas with the US Patent and Trademark Office in Jan. 2018.
What does Snap plan to do with its new acquisition? Find out 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.