Apple has entered a new hardware category with its mixed reality headset Vision Pro. Apple has the might of its brand name, which can help revive a muted augmented/virtual reality industry. But its closed ecosystem and a hefty price tag pose challenges. Mint dives in:
What’s the market for the headset?
While there’s a case to be made for Vision Pro as a consumer-end AR and VR headset, industry experts believe that Apple’s first foray into alternative realities will see it focus on professionals. They cite Apple’s partnership with Disney Plus—showcased by Disney chief Bob Iger on 5 June—as one of the first instances of the approach that Apple will likely take with the headset. As a result, industry experts believe that Apple’s first AR headset will likely target visual effects, movie-making and gaming industries—rather than sectors such as healthcare and manufacturing, at least in the next three years.
Will the mixed reality industry be impacted?
When Apple launches a product, it is looked upon as a bellwether for the global market. This occurs because Big Tech companies run platforms that have billions of users. As a result, developers build applications to cater to these users, who in turn build competition, and an industry. However, as of now, industry experts believe that Apple’s ‘walled garden’ ecosystem could play spoilsport. Navkendar Singh, associate vice-president at market research firm IDC India, said that more than Apple, the global AR/VR industry could see a clear uptick in adoption if Google, with multiple billion-user platforms, makes a similar move.
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Which firms will Apple compete with in this space?
Meta’s Quest division of alternate reality headsets and applications is the largest consumer-end competitor for Apple. Mark Zuckerberg’s firm revealed last year that its Quest Store of AR/VR apps has grossed over $1.5 billion since May 2019—with at least 33 titles grossing over $10 million. Other notable competitors are Microsoft HoloLens and HTC Vive.
Does India have a market?
India’s alternate reality market is nascent, but not nonexistent. CyberMedia Research says the market could be worth almost $9.3 billion by 2028, growing at a CAGR of 28%. Ed-tech platform Byju has acquired Bengaluru startup Whodat to integrate AR/VR in 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 slice of the Indian market?
It’s unlikely that the headset will be available in India anytime soon. Experts say that Vision Pro’s pricing is unlikely to scale down to under $1,000 ( ₹80,000) any time before five years. As a result, industry stakeholders believe that while it could give a fillip to developers and see some revival of interest in the metaverse catchphrase, it is unlikely that the launch of the headset will transform AR/VR into becoming an approachable, affordable everyday technology such as the ubiquitous smartphone.
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Updated: 08 Jun 2023, 12:02 AM IST
