04 Dec 2017
SINGAPORE, December 5th, 2017 – IDC has just released an IDC Innovators report titled IDC Innovators: Asia/Pacific Augmented and Virtual Reality Enterprise Software and Services Providers 2017, which recognizes three Augmented and Virtual Reality (AR/VR) enterprise software and services vendors with revenues under $100 million in the Asia Pacific excluding Japan (APeJ) region. The three vendors named as IDC Innovators are 8I, GDI and Imaginate Software Labs.
8I has developed proprietary volumetric video technology that eases the creation, distribution and playback, of realistic AR/VR content across different devices and platforms. Graphic Design Information (GDI) has created several VR products including content creation software and holds over 20 patents. Imaginate offers custom solutions and NuSpace, a device agnostic, AR/VR collaboration platform for trainings and content sharing.
"Although a lot of media attention is focused on AR/VR gaming and headsets, many enterprises are developing novel applications of AR/VR for a variety of use cases. But creating AR/VR content or applications is an extremely complex task often requiring specialized capture techniques, high-end graphics, and stitching and rendering tools,” says Avinav Trig u nait, Associate Research Director, Enterprise Mobility Research, IDC Asia/Pacific. These three innovative vendors are helping solve that challenge for enterprises, and are well positioned to grow as the commercial market for AR/VR expands rapidly.
Creating AR/VR content or applications is an extremely complex task that requires piecing together specialized camera and capture techniques, computer-generated graphics, and stitching and rendering tools. Additional challenges include lack of skills as well as technology solutions that can help create and deploy AR/VR business applications. Most of the tools utilized today are either gaming or graphics engines, not optimized for enterprise use cases. However, to address these issues, some emerging vendors are developing AR/VR software and applications, which can make it easier for organizations to create AR/VR content and business applications. In this report, we highlight three vendors who offer enterprise grade solutions for AR/VR content and applications development, as well as custom services.
IDC expects the spending on AR/VR technologies in APeJ to reach over US$2 billion in 2017, an increase of nearly 300% over the $730 million spent in 2016. A new update to IDC's Worldwide Semiannual Augmented and Virtual Reality Spending Guide also shows that worldwide spending on AR/VR products and services will continue to grow at a rapid pace throughout the remainder of the 2017-2021 forecast period, achieving a five-year compound annual growth rate (CAGR) of 98.8%.
The New Report IDC Innovators: Asia/Pacific Augmented and Virtual Reality Enterprise Software and Services Providers 2017 profiles vendors in the AR/VR software and services market with an innovative technology or a groundbreaking new business model or both. The IDC Innovators research document examines AR/VR companies with revenue of less than $100 million with a product, service, or business model with a specific use case.
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About IDC Innovators Research
IDC Innovators reports present a set of vendors – under $100M in revenue at time of selection – chosen by an IDC analyst within a specific market that offer an innovative new technology, a groundbreaking approach to an existing issue, and/or an interesting new business model. It is not an exhaustive evaluation of all companies in a segment or a comparative ranking of the companies. Vendors in the process of being acquired by a larger company may be included in the report provided the acquisition is not finalized at the time of publication of the report. Vendors funded by venture capital firms may also be included in the report even if the venture capital firm has a financial stake in the vendor's company. IDC INNOVATOR and IDC INNOVATORS are trademarks of International Data Group, Inc. For more information about IDC Innovators research, please contact Karen Moser at firstname.lastname@example.org.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC.