June 20, 2024

Thrive Insider

Exclusive stories of successful entrepreneurs

Beyond Boundaries:  Harnessing the Power of Spatial Computing

Spatial computing, championed by innovators such as Lumus, is transforming the landscape of work, play, and education.  Forecasts for the AR/VR industry hint at a substantial surge, from $31.12 billion in 2023 to an estimated $52.05 billion by 2027.

Spanning from reality to Virtual Reality (VR), spatial computing applications are expansive.  Augmented Reality (AR) solutions like Lumus’ Z-Lens, Elbit’s Everysight, and XREAL air overlay digital information onto our environment, with devices like the slim, strapless Z-Lens incorporating AR functionality seamlessly into daily wear.

AR’s influence permeates our work, play, and education.  A predicted 1.4 billion devices will be AR-equipped by 2024.  Spatial computing adoption rates suggest a preference for gaming (49%), workouts (33%), shopping (28%), real-time GPS (23%), and education (21%).

Mixed Reality (MR) solutions, such as Apple Vision Pro and Meta Quest 3, interactively fuse digital and physical elements.  Spatial computing’s compact yet potent technology is revolutionizing industries from healthcare to remote collaboration.  Virtual Reality (VR), offering a fully immersive digital environment, is exemplified by VRpilot and Meta Quest 2, with VRpilot assisting in pilot training and Meta Quest 2 delivering full virtual reality experiences.

With increased adoption of AR/MR glasses, 2023 witnessed a 14% decrease in the global smartphone market and a 45% growth in AR glasses sales.  The fuel behind this shift is reflective waveguide technology, offering improved battery efficiency and brightness.  This transformative technology is poised to redefine human interaction and heralds a future where digital and physical realities blend seamlessly.

Spatial Computing: The Future of Work and Play