More

    Magic Leap’s AR & Metaverse Bid Against Apple Vision

    Published on:

    Magic Leap is redefining the metaverse with a focus on real-world augmented reality (AR) applications. This strategic shift comes as Apple's Vision Pro, priced at $3,499, gets ready to debut in the US on February 2nd.

    Magic Leap's breakthrough in mixed reality is backed by a massive $590 million investment from Saudi Arabia's Public Investment Fund.

    The funding comes as Magic Leap prepares to compete with Apple's Vision Pro. Magic Leap CEO Ross Rosenberg and CTO Daniel Diez highlight the company's dedication to solving customer problems using advanced AR headsets such as Magic Leap 2.

    Mr. Diez emphasizes that The importance of practical innovationsaid,

    “We have a hype cycle, and it's ridiculous. What's interesting is the in-between time when people actually put their heads down and realize what they're going to do.”

    Magic Leap's strategy is focused on commercial deployments and specific use cases. This is especially true in the healthcare and military sectors, where AR technology has transformative potential.

    The Metaverse market, with AR/VR at its core, is predicted to reach a staggering $4 trillion by 2032.

    The Metaverse market is projected to grow from 2020 to 2032.Source: Acumen

    Read more: Understand the difference: AR vs. MR vs. VR vs. XR

    Apple Vision Pro headset now available in retail stores

    Apple's Vision Pro is the company's first significant new release since 2015's Apple Watch. Despite the decline in production forecasts, its unique features include: 256GB storage and advanced eye trackingplease separate.

    Apple is encouraging developers to adopt “spatial computing” terminology for their apps, marking a shift in perception towards mixed reality technology.

    While Apple and Magic Leap are in the spotlight, the broader Metaverse market is still growing and taking shape. Major companies such as ByteDance, Meta Platforms, and Microsoft are also contributing to this growth.

    The industry faces challenges such as privacy issues and platform integration. Blockchain technology has emerged as a key component in the economic structure of the Metaverse.

    The Metaverse market is at a critical juncture as Magic Leap focuses on practical AR applications and Apple launches Vision Pro. These developments represent a significant technological leap forward and signify a new era of digital interaction. The evolving relationship between the virtual and real worlds will likely redefine our digital experiences.

    read more: Building Bridges: How to Connect Virtual Worlds to the Metaverse

    Disclaimer

    In accordance with Trust Project guidelines, BeInCrypto is committed to fair and transparent reporting. This news article is intended to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to independently verify their facts and consult a professional.
    This article was originally edited with advanced AI, designed to extract, analyze and organize information from a wide range of sources. We operate without personal beliefs, emotions and biases and provide data-centric content. A human editor carefully reviewed, edited, and approved the article for publication to ensure relevance, accuracy, and compliance with BeInCrypto's editorial standards.

    Related

    Leave a Reply

    Please enter your comment!
    Please enter your name here