FinancialBuzz.com News Commentary
NEW YORK, August 17, 2018
According to the data published by MarketsandMarkets, the augmented reality (AR) market was valued at USD 4.21 Billion in 2017 and is expected to reach USD 60.55 Billion by 2023 while growing at a CAGR of 40.29% during the forecast period. Furthermore, the virtual reality (VR) market was valued at USD 5.12 Billion in 2017 and is expected to reach USD 34.08 Billion by 2023, all the while growing at a CAGR of 33.95% during the forecast period. The research indicates that rising investments in the AR market, as well as the increasing demand from retail and healthcare sectors, are the major drivers for the augmented reality market. As for virtual reality, the availability and affordability of VR devices, increased use of HMDs in gaming and entertainment as well as the advancements in technology and digitization are listed as the major drivers of the VR market. Victory Square Technologies Inc. (OTC: VSQTF), Adobe Systems Incorporated (NASDAQ: ADBE), Microsoft Corporation (NASDAQ: MSFT), Dell Technologies Inc. (NYSE: DVMT), Qualcomm Incorporated (NASDAQ: QCOM)
The full potential of the new VR and AR technologies for the industrial industry and for commerce is yet to be completely understood, however, some of the largest businesses are already investing and experimenting with the technology. Recently, Walmart had launched 3D Virtual Shopping. In an official Walmart blog, Anthony Soohoo, SVP and Group General Manager, Home, U.S. e-Commerce explained, “we’re testing a new experience that enables customers to take a virtual shopping tour of a curated apartment showcasing nearly 70 items from both national brands and our private label offerings. As they virtually explore the apartment, customers simply click on different products in each room to get more information.”
Victory Square Technologies Inc. (OTC: VSQTF) also listed on the Canadian Securities Exchange under the ticker (CSE: VST). Earlier this week, the Company announced that it is, “partnering with the Virtual Reality and Augmented Reality Association (‘VRARA’) to host the 2018 VR/AR Global Summit (the ‘Global Summit’) September 21st and 22nd at the newly-opened Parq Vancouver, a casino, entertainment and hospitality complex situated adjacent to BC Place Stadium in Vancouver.
As the premier marketplace and conference for industry leaders in immersive technology content, knowledge and creation, the Global Summit will feature dynamic keynote speakers, collaborative forums, workshops, creative hubs, demonstrations, exhibits, breakout meetings and a variety of exclusive VIP events. It will showcase the best and most interesting projects that the industry has to offer.
‘Having the support from Victory Square Technologies as a Presenting Sponsor of the VR/AR Global Summit is truly an honour,’ said Nathan Pettyjohn, President of the VR/AR Association. ‘Victory Square is helping to bring together a global community of some of the brightest minds in the VR and AR industry, as well as some of the leading brands utilizing VR and AR technologies. We’re excited to have them on board in a leadership position with our Global Summit.’
The VR/AR Global Summit boasts an impressive list of speakers from companies such as Amazon, NASA, IBM Watson, The Vatican, HTC Vive and Adobe Systems. Each marquee company will be offering their insight of how immersive technology is being used as a vital tool in the world’s most progressive companies today and how applications will only grow over the next few years.
‘The VR/AR Global Summit is an impressive forum in which we can and will bolster our deepening pool of high tech incubation prospects while extending our reach and influence in the network of elite industry giants,’ said Victory Square CEO Shafin Diamond Tejani. ‘Our immersive technologies and gaming division has already generated over 300% year-over-year growth in revenues derived from building customized games, AR/VR and immersive experiences for large global brands such as Chrysler, Intel, SONY, Paramount and TED. The VR/AR Global Summit is simply another stepping stone in building our presence and engagement at the highest levels of our industry.’
Victory Square will host the first-ever ‘Pitchfest’ at the VR/AR Global Summit on Friday, September 21st, with eight startup finalists presenting their innovative technology and/or products to an audience of accredited global VR/AR investors dedicated to investing in game-changing entrepreneurs. After each finalist gives a three-minute presentation, one startup will be selected to receive a prize of USD 15,000.
It is another example of how Victory Square has used leadership in incubation and acceleration to create an immersive technology portfolio that includes companies such as Shape Immersive, Fantasy 360 Technologies Inc. (dba Immersive Tech), V2 Games & Flo Digital Inc.
‘Strong growth from this segment comes from the ingenuity behind products such as Flo Digital’s Virtual Reality Test Drive Simulator for Chrysler Canada, Immersive Tech’s customized immersive pop-up experiences built for Intel and the world’s first and most spatially accurate multi-player MR experience, created by Shape Immersive and presented at TED 2018,’ noted Tejani.
Tejani added that Victory Square is very pleased with the progress of its companies in their respective immersive technology portfolios as they continue to reach milestones and leverage significant market opportunities in North America and around the world.”
Adobe Systems Incorporated (NASDAQ: ADBE) recently announced a major update in Adobe Creative Cloud, giving video professionals new tools to automate and expedite time-consuming production tasks without sacrificing creative control. The updates include powerful new capabilities for refining color, creating graphics and crafting audio, along with enhanced VR tools, improved collaboration, integration with Adobe Stock and advanced artificial intelligence powered by Adobe Sensei. With the growing demand for video, the opportunity for content creators has never been greater, but video professionals are faced with new pressure to deliver more work in less time while ensuring content stands out and meets high audience expectations. In addition, creators must optimize for different platforms, ensure accessibility, meet required broadcast standards and deliver numerous versions of content across languages and regions. This tremendous shift in the way video professionals work requires more refined and streamlined workflows to reduce time to production, giving video creators more time to focus on their craft. “The demands and pace of video content creation are reaching levels we’ve never seen before. The time pressure on video professionals means the need for powerful and efficient creative tools has never been greater,” said Steven Warner, Vice President of digital video and audio at Adobe. “Adobe video apps like Premiere Pro and After Effects give them that power which, combined with the services available in Creative Cloud, provides broadcasters, media companies, filmmakers and YouTubers a complete ecosystem to bring their stories to screen faster than ever.”
Microsoft Corporation (NASDAQ: MSFT) At a recent event, Microsoft leaders showcased new technologies to help every developer become an AI developer, on Microsoft Azure, Microsoft 365 and across any platform. Building for AI is more important to developers than ever, as technology continues to change the way people live and work every day, across the cloud and across edge devices. As part of Microsoft’s commitment to trusted, responsible AI products and practices, the Company also announced AI for Accessibility, a new USD 25 Million, five-year program aimed at harnessing the power of AI to amplify human capabilities for more than 1 Billion people around the world with disabilities. The program comprises grants, technology investments and expertise, and will also incorporate AI for Accessibility innovations into Microsoft Cloud services. It builds on the success of the similar AI for Earth initiative. “The era of the intelligent cloud and intelligent edge is upon us,” said Satya Nadella, CEO, Microsoft. “These advancements create incredible developer opportunity and also come with a responsibility to ensure the technology we build is trusted and benefits all.”
Dell Technologies Inc. (NYSE: DVMT) gives today’s workforce what they need to securely connect, produce, and collaborate from anywhere at any time. Dell recently announced the world’s most powerful 1U rack workstation and several new tower workstations designed to make it possible for companies of all sizes and budgets to access powerful, affordable, compact industry-leading workstations. Built with customer feedback in mind, the Dell Precision 3930 Rack delivers powerful performance in a compact industrial footprint. The 1U height delivers better rack density, extended operating temperatures and features such as short depth, dust filters and legacy ports allow it to integrate seamlessly into complex medical imaging and industrial automation solutions. The Dell Precision 3630 Tower is 23 percent smaller than the previous generation with more expandability so workers can precisely get the solution they need regardless of workspace constraints. It features a range of easy-to-reach ports that make it possible to connect to external data sources, storage devices and much more. As workstation users often create IP, Dell will also offer an optional Smart Card (CAC/PIV) reader to make secure data management easier. It may be small in size, but it’s big in performance – ideal for creating or enjoying VR experiences and other resource-intensive tasks. It features 8th Generation Intel® Core™ and new professional-grade Xeon® E processors with faster memory speeds up to 2666MHz 64GB and offers up to 225W of graphics support.
Qualcomm Incorporated (NASDAQ: QCOM) invents breakthrough technologies that transform how the world connects and communicates. Qualcomm Technologies Inc., a subsidiary of Qualcomm Incorporated, recently announced a new virtual reality development kit consisting of a wireless, standalone VR head-mounted display (HMD), and a new software development kit (SDK) for the powerful Qualcomm® Snapdragon™ 845 Mobile VR Platform. This new virtual reality development kit (VRDK) from Qualcomm Technologies is designed to support the next generation of mobile virtual reality applications. Advanced heterogeneous platforms like the Snapdragon 845 are capable of supporting immersive VR experiences when developers are given the right set of tools. The new Snapdragon 845 Virtual Reality Development Kit is designed as a comprehensive, stand-alone mobile VR platform that is supported by Snapdragon profiler and power optimization tools to simplify development and provide VR application developers with access to new VR features for truly immersive mobile experiences on Snapdragon 845 Android devices. “In virtual reality, content is important to an immersive experience, so we’re excited to grant developers access to our new Snapdragon 845 Mobile VR Platform through development kits that will help them create truly immersive experiences,” said Hiren Bhinde, Director, Product Management, Qualcomm Technologies Inc. “We built the new Snapdragon 845 Virtual Reality Development Kit with application developers in mind, designed to abate some of the hassles of optimizing virtual reality content for mobile deployment, as well as to support easier access to several innovations and technology advancements of Snapdragon 845 Mobile VR Platform.”
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