Apple has entered a new hardware category with the Vision Pro, its mixed reality headset. Apple has the power of its brand name, which could help revive a muted augmented/virtual reality industry. But its closed ecosystem and hefty price tag pose challenges. Mint Dives:
What is the market for headsets?
While there is a case to be made for the Vision Pro as a consumer-end AR and VR headset, industry experts believe that Apple’s first foray into alternate realities will focus on professionals. They cite Apple’s partnership with Disney Plus — demoed on June 5 by Disney chief Bob Iger — as one of the first examples of the approach Apple will likely take with the headset. As a result, industry experts believe that Apple’s first AR headset will target the visual effects, filmmaking and gaming industries, rather than sectors such as health care and manufacturing, for at least the next three years.
Will the Mixed Reality Industry Be Affected?
When Apple launches a product, it is seen as a precursor to global market, This happens because big tech companies run platforms that have billions of users. As a result, developers create applications to cater to these users, which in turn creates competition and an industry. However, so far, industry experts believe that Apple’s ‘walled garden’ ecosystem may be disturbed. More than Apple, the global AR/VR industry could see a clear increase in adoption if Google, with several billion-user platforms, makes a similar move, said Navkendar Singh, associate vice president at market research firm IDC India.
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Which companies will Apple compete with in this space?
Meta’s Quest division of alternate reality headsets and applications is the biggest consumer-end competitor to Apple. Mark Zuckerberg’s firm revealed last year that its Quest store of AR/VR apps has earned more than $1.5 billion since May 2019 — with at least 33 titles earning more than $10 million. Other notable competitors are the Microsoft HoloLens and the HTC Vive.
Does India have the market?
India’s alternate reality market is nascent, but not non-existent. Cybermedia Research says the market could be worth around $9.3 billion by 2028, growing at 28% CAGR. Ed-tech platform Byju’s has acquired Bengaluru startup WhatDate to integrate AR/VR into its offerings, E-commerce startup Flipkart has set up Flipkart Labs to build retail AR/VR products. In healthcare, IIT Madras-incubated startup MedisimVR is working with Johnson & Johnson Innovation Labs to train doctors in the country.
Can Apple grab a piece of the Indian market?
It is unlikely that the headset will be available in India anytime soon. Experts say the Vision Pro is unlikely to cost less than $1,000 ( 80,000) at any time before five years. As a result, industry stakeholders believe that although this may give developers a boost and see some revival of interest in the metaverse catchphrase, it is unlikely that the launch of the headset will make AR/VR an accessible, Inexpensive will become everyday technology. As the ubiquitous smartphone.
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Updated: 08 June 2023, 12:02 AM IST