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Earlier this year, Magic Leap published a video that demonstrated its vision, no pun intended, for an augmented reality experience with a still unknown device. Back then, it was already a sight to behold, showing off what AR dreams are made off. That said, it was for all intents and purposes a concept video that showed what can be done. Now Magic Leap is showing what has indeed been done, with a new AR reel that it claims was shot without the use of any special effects or compositing.
Magic Leap, which has raised half a billion dollars from investors including Google, has been building its technology in secret for years. But it's getting closer to show us its version of mixed-reality computing. "We're actually gearing up to build millions of things," said Rony Abovitz, the company's president and CEO, speaking at the WSJD conference in Laguna Beach, CA. The company is using part of an abandoned Motorola factory in south Florida and is now developing its manufacturing processes, he said. "We're not ready to announce when we're shipping, but it gives you a signal that we're not far," Abovitz said.
Virtual reality and augmented reality are exciting – Google Glass coming and going, Facebook’s $2 billion for Oculus, Google’s $542 million into Magic Leap, not to mention Microsoft’s HoloLens. There are amazing early-stage platforms and apps, but VR/AR in 2015 feels a bit like the smartphone market before the iPhone. We’re waiting for someone to say “One more thing…” in a way that has everyone thinking “so that’s where the market’s going!”
We forecast that AR/VR could hit $150 billion revenue by 2020, with AR taking the lion’s share around $120 billion and VR at $30 billion.
We think AR’s addressable market is similar to the smartphone/tablet market. So AR could have hundreds of millions of users, with hardware price points similar to smartphones and tablets. This could drive large hardware revenues for device makers.
originally posted by: neoholographic
a reply to: Raggedyman
First we're talking about new technology and they have raised a half a billion dollars. So we're not seeing the final product. This is also being done with no special effects. You put on the Magic Leap glasses and these graphics will be superimposed over whatever environment you're looking at.
originally posted by: Aleister
Put some of the new computer chips to work on this and let's see what a couple of more years brings. Would be good tech for museum tours.