HONG KONG, March 30, 2021 (GLOBE NEWSWIRE) -- Tailor Insight, the fintech market research organization, recently released a research report "WIMI's AR+AI Becomes an Investment Hotspot Again as 5G and Pandemic Double to Catalyze the Recovery of the VR/AR Industry". Under the current epidemic, offline scenarios are restricted, and the awareness of AR/VR has been significantly improved during the epidemic. During such a pandemic, the hospital adopted a remote diagnosis and treatment system with VR technology. Experts and doctors from other places can also provide 360-degree all-round high-definition remote diagnosis and treatment guidance, effectively reducing the direct contact between medical staff and patients. This improves the efficiency of doctors' diagnosis, and patients in different places can enjoy instant high-quality medical expert resources.
Another example is online house viewing with AR technology. Through the AR effect, you can view the advantages and disadvantages of each apartment in the real scene. You can view the floor plan, 3D model, and real-life map of the apartment while just need to move your fingertips. There are more and more applications based on AR/VR in office, medical, education, real estate, and other scenarios, which also gives people a deeper understanding of AR/VR.
It is worth mentioning that the advantages of 5G's low latency, large bandwidth, and large connections will promote AR/VR to the cloud gradually. The cloud AR/VR solution in the 5G era can significantly improve user experience, further, open the market, and make breakthroughs in the industry. In 2020, China has built the world's largest 5G network, 5G development has entered a new stage of integration and innovation in China, and the landing of 5G applications has become the key to development. In the next 2-3 years, China's 5G network construction will maintain a trend of rapid advancement. As an important starting point for the integration of 5G commercial industries, AR/VR is continuously receiving multi-level supports from national policies and local governments.
From the "Investigation Report on Game Industry during Epidemic Prevention and Control Period" released by Gamma Data, in the first quarter of this year, the mobile game market revenue alone reached nearly 55 billion yuan. It hits a record high with a year-on-year growth rate of over 49%. Obviously, a new round of game craze is sweeping the "pocket" of home users, and VR/AR games will also usher in greater opportunities.
Many Internet giants and investment institutions have already paid attention to the layout in this field. As a leading company in holographic AR, WIMI Hologram Cloud is no exception. As a holographic AR company listed on NASDAQ, WIMI is expected to become a leader in the field of holographic AR vision. WIMI has established a comprehensive and diversified holographic AR content library among all Chinese holographic AR solution providers. In terms of revenue, the number of customers, holographic AR content, and the number of holographic AR patents and software copyrights, WIMI ranks first is in China's holographic AR industry. The ultra-high reliability and low-latency communication of 5G communication technology are expected to solve the shortcomings of VR/AR development. We believe that 5G+cloud will open the VR/AR scene and continue to release the vitality of the industry.
It is worth mentioning that the advent of the 5G era will inject more impetus into the AR/VR industry and promote the rapid development of the AR/VR industry. Industry analysis agency IDC predicts that AR/VR helmet shipments will reach 99.4 million in 2021, an increase of nearly 10 times from 10.1 million in 2016, with a compound annual growth rate of 58%. From the market perspective, technology giants including Facebook, Microsoft, Google, and Apple are all deploying in the AR/VR field.
WIMI focuses on holographic cloud services, mainly in vehicle-mounted AR holographic HUD, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation, and other professional fields, covering multiple links of AR technology, including holographic vehicle-mounted AR technology, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication, and so on. It is a holographic cloud comprehensive technical solution provider.
According to the prospectus of WIMI, its holographic cloud services will be deeply integrated with 5G. With the cooperation of 5G's high speed and low latency, the average transmission delay of remote communication and data transmission from the system terminal to the service server is about 6ms, which is much lower than the 4G network transmission delay. It guarantees the Hologram AR's long-distance communication and data transmission without stuttering and low delay. Moreover, it also assures the richness and diversity of multi-terminal remote coordination, and time interaction, which makes the collaboration of end + cloud collaboration more efficient. Enhanced mobile broadband (eMBB) and Internet of Things (IoT) applications will enable WIMI's Hologram AR advertising business and Hologram AR entertainment business, as well as Hologram interactive entertainment, Hologram conference, Hologram social networking, Hologram communications, Hologram family, will be based on the core technologies of 5G+AI face recognition technology and Hologram AI face change technology to achieve effective growth.
According to a report by Artillry Intelligence, a well-known market research organization, the global VR consumer industry revenue will increase from $1.6 billion in 2016 to $11.5 billion in 2021. At the same time, the global AR consumer industry revenue will also increase from last year's $975 million to $15.8 billion in 2021, which shows promising market prospects.
Recently, WIMI released a patent for a 3D holographic pulse laser processing device, which can solve the problems of holographic data collection and holographic data presentation of electric vehicles in the future. In the electric vehicle market, it has also attracted everyone's attention. This company with holographic AR technology has also extended the technical field to the field of new energy electric vehicles. It is reported that WIMI plans to launch AR-HUD equipment for the automotive field and adds a new automotive scene application.
WIMI Hologram Cloud owns about 4654 AR holographic contents, 106 software copyrights, and 219 technical patents. Meanwhile, it is committed to using holographic technology to meet the entertainment and business needs of customers and end-users. According to Frost & Sullivan, the holographic AR application platform currently operated by WIMI covers a wide range of holographic AR products in China.
In recent years, WIMI Hologram Cloud, while continuously consolidating the competitiveness of holographic components, actively expands market opportunities in the semiconductor field, develops semiconductor products, and sells such products to customers in a broader holographic ecosystem. Meanwhile, the subsidiary of WIMI will focus on the upstream business of the smart product market in China, as well as the R&D and sales of semiconductor chips to further enhance the company's competitiveness.
WIMI holographic semiconductor business will be based in Hainan province and enjoy tax incentives and government support in the fast-developing semiconductor industry, industrial and automation technologies, the applications of intelligent vision and holographic vision, and many other aspects. WIMI hopes its new subsidiary will bring integrated circuit design firms with a wide range of proprietary technology to help develop the fabless semiconductor business. The investment and establishment of its subsidiary are in line with the company's requirements for optimizing supply chain management, reducing costs, and enhancing competitiveness. Besides, it also keeps by the company's requirements for continuous enhancements of innovation, design, and technical capabilities.
Whether it is the popularization of 5G or the increase in user demand for online entertainment under the epidemic, it will be a normalized demand opportunity in the future. These potential benefits have given the market more hope and opportunities.
The goal of WIMI is to build an ecosystem around holographic technology, continue to improve and strengthen the existing technology, maintain the industry's leading position, and create an ecological business model. Moreover, its holographic face recognition technology and holographic face change technology are being applied to the existing holographic advertising and entertainment business scenarios, and the technology is also being continuously upgraded, with a view to making breakthroughs in more industry fields.
In May 2020, someone revealed that Apple is about to launch AR glasses "Apple Glass", which can be controlled by gestures, starting at $499. It was also stated that the initial plan of "Apple Glass" was to set the release date as the fourth quarter of 2020 or the first quarter of 2021, but due to the COVID-19 epidemic, its release date may be changed. Just like the first-generation Apple Watch, this device may be a few months later than its release time. The glasses may detonate the global AR fever.
As 5G technology matures, the AR/VR industry will also take advantage of 5G technology's significant advantages such as low latency, high speed, and large capacity, so that AR/VR devices can achieve smoother and more convenient performance in practical applications. Thus, they can provide consumers with a better experience, and tap into a larger market space.
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Alex Xie, Senior Analyst
Fintech Research Team, Tailor Insight Research
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