This Week in IoT: Augmented Reality and Virtual Reality Hit $1.1 Billion

March 11, 2016

If you managed to catch PTC’s ThingEvent earlier this year (if not, watch the replay), you already know that augmented reality (AR) is poised to change everything we know about life at work and at home. Now, a new report from Digi-Capital puts a quantitative value on 2016 AR and virtual reality (VR) investments so far: $1.1 billion.

As reported by Fast Company, it is the first time that investment in AR and VR companies has topped $1 billion in any year. The piece notes that “almost $800 million of the $1.1 billion investment in AR and VR this year went to one company: Magic Leap, but $300 million has already gone to smaller companies in the AR/VR services, hardware, advertising, distribution, and entertainment markets.”

With 2016 still just a few months old, the pace looks great for AR and VR technology investments to see amazing growth this year.

BMW’s Car of the Future Includes AR

German automaker BMW recently introduced its Vision Next 100 concept car, which includes an AR windshield. As noted by The Verge, “the entire windshield is an augmented reality display, which takes the place of every single d
ashboard display.” Concept cars are often used in the auto industry to push the envelope for new design and cutting-edge technology, so AR in BMW’s futuristic Vision Next 100 is no surprise.

You can watch the Vision Next 100 in action in this video from BMW Group.

AR Goes to SXSW

South by Southwest (SXSW) kicks off this week with a new VR/AR track that coincides with SXSW Gaming. This new track, the first time these technologies have garnered their own program at SXSW, includes sessions such as Five Ways AR Will Change the World, Five Best Startup Ideas in VR/AR, and VR, AR and Digital Storytelling. See the full VR/AR conference track and keep your eyes open for AR news coming out of Austin next week.

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