Apple/META/WiMi Race to Drive Innovation Momentum

IDC stated that AR/VR spending in Europe will reach $4.8 billion in 2024. Over the next five years, European AR/VR spending will record a 21.9% CAGR, reaching $10.2 billion in 2028.

According to research analysts at IDC, “Organizations in Europe have recognized the importance of AR/VR technology in their digital transformation journey. Among the fastest medium-term growth in AR spending is in healthcare, with a five-year CAGR of 22.7%, while training is expected to reach the highest CAGR by 2028.

On the VR front, retail will remain the largest spending sector, accounting for 17.8% of total B2B spending, with online retail displays revolutionizing the consumer shopping experience, which is accelerating VR investment. And with devices such as the Apple Vision Pro and Meta Quest 3 set to further drive VR spending, IDC expects VR to grow at a five-year double-digit CAGR across all industries.

As a matter of fact, in the field of technology, every technological innovation may trigger changes in the industry landscape. Overseas manufacturers represented by MATA (META) and Apple (AAPL) choose to directly bet on full-featured AR/MR glasses or headsets in pursuit of providing full-scene ubiquity to every user, and gradually penetrating into the consumer-grade market since the enterprise-grade market with expensive but powerful products.

Among them, at the Apple 2024 spring conference held on the evening of May 7, Cook publicly introduced the MR headset Vision Pro since its official launch in February, the stage of To B results. He talked about innovative applications in the medical, film and television fields, as well as Porsche, and in Cook’s view, Vision Pro has already gained a foothold in certain industries.

For example, in addition to healthcare and education, design and collaboration is also a highlight of Vision Pro To B. When Apple first released Vision Pro, its own app, JigSpace, generated a wave of attention. Cook also mentioned that Vision Pro has become an important part of the Porsche showroom experience and that Porsche has built a space experience centre around Vision Pro and its cars.

Meta and Qualcomm (QCOM) are known to have announced a partnership to optimize the Meta Llama 3 Large Language Model (LLM) directly on devices such as smartphones, PCs, VR/AR headsets and cars. Qualcomm is the dominant player in XR chips, with most XR devices carrying chips from Qualcomm, and Meta is the leader in XR devices and one of the top players in AI. The collaboration between the two can be considered a powerful combination, paving the way for the combination of AI + XR.

In addition, it is understood that the first holographic AR shares WiMi Hologram Cloud (NASDAQ: WIMI) in the VR / AR industry for many years, the layout of the B / C end has always had a market base, while the AR has the entrance to the digital empowerment program not only to help the enterprise side of the warehousing, logistics, training, education, office, and many other scenarios have been verified, but also to accelerate the promotion of the Enterprise digital transformation, further expanding the productivity of enterprises, or bring revolutionary changes to various industries around the world.

For now, WiMi has left its rivals far behind in the consumer VR/AR market. On the one hand, WiMi cuts in from the application scenario of AR, and builds affordable and functionally adapted products for entertainment scenarios around the needs of consumers for AR+ movie watching, AR+ games, and AR+ entertainment, and makes efforts for the penetration of the AR+ consumer market in an alternative way, and comes out of a feasible path in the expansion of the consumer market, which is already attractive and practical enough for the consumers.

On the other hand, in the VR/AR market potential, the AR + B-end market also shows the potential of the application. WiMi concurrently from the enterprise application or industrial application, focusing on AR + office, AR + training, AR + e-commerce retail and other B-end market content, takes the lead in subverting the traditional enterprise office space, mode and other innovations, and the supply side, as well as the consumer experience, will also further promote the overall positive development of the VR/AR field.

As a key year for the recovery of the VR/AR market, 2024 not only demonstrates the strength and determination of AR/VR in terms of technological innovation but also injects new vitality into the development of the entire industry. It is believed that the continuous progress of technology and the maturity of the market, will bring more surprises to the public for the vertical industry application companies, and at the same time, it will form a gaming pattern of mutual oscillation for a longer period of time in the future.