This week, we're beginning to see the wide ranging impacts of some of the early iterations of augmented reality hardware and software.
For example, we now know how many Microsoft HoloLens devices have been sold. We're also seeing the impact of AR on revenue at Snapchat. And speaking of Snapchat, its AR social media competitor, Facebook, is turning up the heat by expanding its offerings for creators and advertisers.
Last week, we told you about Microsoft's Alex Kipman and his nomination for the annual European Inventor Award, presented by the European Patent Office (EPO). And while that's big news in and of itself, it turns out we overlooked a very important detail buried in the EPO's video presentation. What was it? Only one of the most sought-after data points related to the HoloLens since its launch: how many have been sold.
That's the question many have been asking in the face of numerous product demos, in-store displays, and slick commercials that all tout the powers of the HoloLens and its ability to take us into the world of high-end augmented reality. The question is important because, although the device costs $3,000, if the HoloLens is as revolutionary as some think it is, part of its ultimate success will hinge upon how many early adopters are buying it and developing for it.
So how many units has Microsoft sold? What does this mean for the future of the AR device industry? Read on to learn more...
REALITY BITES: Analysis by Deloitte, published in the 2018 Global Health Care Outlook, shows that augmented reality and virtual reality are approaching the "late majority" stage of the adoption curve for emerging technologies. "VR/AR can engage patients in low-risk, artificially generated sensory experiences that could accelerate behavior change in a way that is safer, more convenient, and more accessible to the consumer," the firm states in the report.
During Snap Inc.'s quarterly earnings report, released on Tuesday, the company disclosed that it snagged a revenue total of $230.8 million for the first quarter of 2018, an increase of 54% compared to last year, largely fueled by its augmented reality offerings and other advertising products.
While Snapchat faced a backlash as a result of its app redesign, the company also saw daily active users rise to 191 million for the quarter, a 15% increase compared to the same period in 2017.
Keep reading to find out how augmented reality has contributed to Snapchat's revenue growth...
REALITY BITES: Augmented reality platform maker Zappar recently listed the 13 factors the company believes businesses need to consider when pricing augmented reality projects.
On Tuesday, on the one-year anniversary of the announcement of its AR Camera platform, Facebook founder and CEO Mark Zuckerburg revealed at the company's F8 developers conference that the platform will be extended to the company's Instagram and Messenger apps.
Users of the Instagram app on iOS and Android will be able dress up their photos and video with AR effects and share their creations as Stories. Moreover, their followers can tap a button to use the effect for themselves.
In addition, the company is giving brands the opportunity to offer AR camera effects through the Messenger app for iOS and Android. Advertising partners can build virtual try-on and product previews as well as AR experiences to engage consumers.
But is this really the future mobile AR? Read on to find out...
REALITY BITES: Treasury Wine Estates is finding success with its AR wine labels. According to the company, the Living Wine Labels app has registered 1.3 million downloads worldwide, thus showing off how AR marketing can help drive interest in the food and beverage category. The company also reports more than 200,000 videos of the app in action have been shared across social media platforms.
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.