Virtual reality (VR) startups have high hopes for the much-anticipated Apple mixed reality (MR), hoping that the device will restore the industry's ability to attract money.
Monday's WWDC is widely expected to be Apple's biggest hardware launch since the iPad was launched in 2010. Priced at $3499, the headdisplay is expected to combine augmented reality (AR), which overlays virtual images on real images, and VR, which allows users to completely immerse themselves in game-like virtual worlds.
The new operating platform visionOS has yet to be built by developers, but it will be compatible with iOS and iPad OS applications. Tipatat Chennavasin, co-founder of venture capital fund Venture Reality, said: "millions of owners will make millions of dollars by selling products to billions of people through this next-generation ecosystem."
He added that startups have been showing potential investors a hockey stick curve (Hockey Stick Chart) for years to show that once Apple verifies the feasibility of the technology with its own hardware, industry-wide revenue will soar.
Since 2016, Chennavasin's fund has supported 50 companies in the industry. "I saw them promise Apple to launch the device in their propaganda six years ago," he said. " Now that the promise is finally being fulfilled, the industry will naturally get excited.
AR/VR technology has made a hit with "the next big thing" as a gimmick, but in the past six months, the generative AI tool dominated by ChatGPT has stolen everyone's attention, making the former gradually ignored.
The craze for AR/VR technology peaked at the end of 2021, when Facebook changed its name to Meta, had high hopes for meta-universe, and announced that it would spend $10 billion a year to develop related technologies.
Just last Thursday, Meta beat Apple to launch the latest VR headset Quest 3. Mark Zuckerberg, CEO of the company, called it Meta's most powerful headshow to date. The product will go on sale this fall for $499.
But as the focus shifts from AR/VR to generative AI, venture capital interest in such companies is also declining. PitchBook data show that both the volume and amount of venture capital in AR/VR have continued to decline since the beginning of 2022. In the first quarter of 2023 to the end of March, AR/VR venture capital totaled $800m, down 74 per cent from a year earlier.
Tuong Nguyen, an analyst at market research firm Gartner, said: "Nobody wants to talk about meta-universe when raising money, but some people think Apple can lift the whole market."
Ori Inbar, founder of Super Ventures, an early AR fund, said: "the market has lagged far behind expectations. But Apple's launch could be a catalyst-driving investment in all hardware, software, tools and applications. "
But Inbar is still worried that the entire industry is pinning its hopes on a press conference.
Inga Petryaevskaya, CEO of collaborative VR modeling app ShapesXR, said the mood across the industry has been depressed recently because "financing is very difficult, companies are slowing down the pace of VR investment, and even Meta has made several rounds of layoffs." "We've been through several cold winters of virtual reality, but we need to prove to investors that we can sell 100 million units, not just 10 or 20 million units, so that they can understand our growth potential," Petryaevskaya said. It's just that it can't be proved yet. "
They hope that Apple's latest product will once again benefit the entire ecological chain, benefiting the companies that develop services for the head show.
Apple launched the App Store for mobile devices as early as 2008, with sales of $30 million in its first month. Steve Jobs, the late founder of the company, once said: "We know that this may become a $1 billion market at some point." Today, App Store has annual sales of at least $70 billion, and advertising-related revenue is even higher.
Apple launched the App Store for mobile devices as early as 2008, with sales of $30 million in its first month. Steve Jobs, the late founder of the company, once said: "We know that this may become a $1 billion market at some point." Today, App Store has annual sales of at least $70 billion, and advertising-related revenue is even higher.
Responsible editor: Liu Liangliang
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