The Venture Reality Fund (VR Fund) are one of the biggest venture capital firms that provides funding for companies and projects in the augmented reality (AR, mixed reality (MR) and virtual reality (VR) sectors. The VR Fund has released a report detailing the current state of the landscape for the AR industry.
The VR Fund evaluated over 2,000 companies as part of compiling its report, highlighting over 150 companies that are developing infrastructure, tools, platforms and apps for the AR sector. The report several key areas that have influenced the growth and direction of the AR industry.
The report found that activity in Q2 of 2017 concentrated around creation of device infrastructure and development of software development tools, indicating that the AR industry is still in an early period of development, though there was an increase of more than 60% of the number of companies working in the AR sector from Q1. The VR Fund also discovered that Apple’s entry into the AR sector and the release of the ARKit caused a significant uptick in activity around the Ar industry, as did Facebook’s introduction of its AR camera platform.
“Over the past quarter, the AR industry witnessed several notable moves by major players including Facebook and Apple, which immediately led to a robust increase in developer activity as well as extensive coverage in the market,” said Tipatat Chennavasin, co-founder and general partner at The VR Fund. “These strides are reflective of rising interest in AR driven primarily by device infrastructure and SDK tools.”
The report predicts that Apple’s move into the industry will lead to further growth and development of the AR market, with Google and Microsoft further developing their respective Tango and HoloLens technology as a direct response.
The full report can be read on The VR Fund’s website.
VRFocus will continue to report on developments within the VR and AR industry.