As November wraps, the XR industry is starting to close the year on an optimistic note.
Q3 reflections are proving favourable for many firms with fruitful investments in AR/VR/MR via software and hardware. While certain firms have not announced their quarterly performance yet, based on current reflection, forecasts seem hopeful.
AWE EU and the year’s closing XR events will soon be underway. They will gather leading firms and XR thought leaders to analyse the state of XR in 2025.
AR technology is seeing wider adoption, even through devices like smartphones, and VR is retaining substantial success in education and training. The adoption curve is rising, and while consumer interest is bubbling away, the enterprise is invested.
Ray-Ban Meta AR Smart Glasses Claim EU Sales Success
EssilorLuxottica’s recent Q3 2024 earnings call noted the company’s inclusion in Fortune’s ‘Change the World’ list and emphasized the success of its Meta partnership.
In an official statement, Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO, said that EssilorLuxottica “maintained solid momentum” in Q3. The CEOs also added:
The long-term partnership between EssilorLuxottica and Meta continues to write the bold story of smart glasses as the disruptive category in digital eyewear. – As we enter the fourth quarter with confidence, we remain on track with our long-term targets and continue driving meaningful transformation for the years to come.
EssilorLuxottica is reporting strong demand for the Ray Ban Meta smart glasses; notably, in EU regions, the firm reported that 60% of EU Ray-Ban stores mark the smart glasses as best-sellers.
CFO Stefano Grassi also noted, “On the frame side, I would say we continue to see strong demand from Ray-Ban Meta.”
Grassi noted:
It’s an overall success story that we see. Just to give you an idea, it’s not just a success in the U.S., where it’s obvious, but it’s also success in — success here in Europe. Just to give you an idea, in 60% of the Ray-Ban stores in Europe, in EMEA, Ray-Ban Meta is the best-seller in those stores. So it’s something that it’s extremely pleasing.
Grassi discussed how Ray-Ban Meta’s product distinguishes the company with its innovative features. As noted by the CFO, it recently won the Silmo d’Or award for technological innovation in eyewear, reinforcing EssilorLuxottica’s leadership in product innovation.
In the U.S., Grassi pointed out that AI integrations in smart glasses represent a “killer application” for users. “We can’t wait to see that application rolled out in Europe. I believe it would be extremely beneficial to consumers,” he added.
Due to the success of the Ray-Ban Meta smart glasses, Grassi emphasized that EssilorLuxottica is extending the “duration of the partnership.” This statement follows Meta’s move to acquire a five percent stake in Ray-Ban’s parent company, EssilorLuxottica. According to calculations by Reuters, based on LSEG data, this stake is valued at approximately $4.73 billion, given the company’s overall valuation of over $94 billion.
Grassi added:
It’s a partnership that will be a journey that we’ll do together around wearable[s]. It’s a partnership that will last quite a few years, I would say that will take us to the next decade. It’s a partnership that will also encompass, presumably, I would say will encompass other brands.
The CFO stated, “Based on the results we’ve observed with Ray-Ban Meta, particularly its success in various markets where it has been commercialized and sold, I am very optimistic and confident that this will be a successful journey for us.”
NVIDIA Highlights Omniverse Enterprise Virtual World Success in Q3 Earnings Call
NVIDIA also recently announced its Q3 earnings, as reported by Yahoo. As expected, the company saw a revenue increase, reaching $18.1 billion—up 34% from the previous quarter and over 200% year-on-year. The firm highlighted that products like the NVIDIA HGX platform significantly contributed to its Q3 performance.
NVIDIA’s technology portfolio is extensive, and the strong Q3 results stem from various components within that portfolio, which caters to a wide range of end customers and partners.
Another area of success for NVIDIA in 2024 is its Omniverse platform. This ecosystem encompasses real-time 3D (RT3D), XR, and simulation technologies to support businesses in emerging augmented reality, virtual reality, and mixed reality applications.
A key driver behind Omniverse is NVIDIA RTX—a workstation platform for professional design, engineering, simulation, and AI applications. During the earnings call, CFO Colette Kress stated that RTX is “emerging as a powerful demand driver.”
Kress explained that RTX workstations enable enterprises to optimize AI for their business workloads. On the XR front, the RTX product also facilitates RT3D simulation technology, which supports virtual workplace solutions.
Kress added:
We continue to make progress on Omniverse, our software platform for designing, building and operating 3D virtual worlds.
Kress emphasized that clients like Mercedes-Benz use the Omniverse platform to integrate digital twins into their operations. This integration enhances the planning, design, construction, and operation of manufacturing and assembly facilities, ultimately increasing efficiency and reducing defects.
Additionally, Kress noted that Oxxon is incorporating Omniverse into its manufacturing processes. This includes end-to-end simulation of the entire robotics and automation pipeline, leading to significant savings in both time and costs.
Kress also explained:
We announced two new Omniverse Cloud services for automotive digitalization available on Microsoft Azure, a virtual factory simulation engine and autonomous vehicle simulation engine.
HTC VIVE Holodeck to ‘Revolutionise’ Forensic Investigations
HTC VIVE has partnered with the Bavarian State Criminal Police Office (Bayerisches Landeskriminalamt, BLKA) to launch the ‘Holodeck’ VR platform, which aims to revolutionize forensic investigations.
The Holodeck allows users to create photorealistic reproductions of crime scenes that police officers, legal experts, and others can explore and interact with without disturbing the real-world environment. It also serves as a valuable training tool for law enforcement.
HTC, the Taiwanese technology manufacturer, has contributed various technologies to develop the Holodeck, including the VIVE Focus 3 VR headset, the VIVE Location-Based Software Suite (LBSS), and the VIVE Focus 3 Eye and Face Trackers.
Ralf Breker, Head of the Forensic Media Technology Department, BLKA, outlined the purpose and benefits of the Holodeck:
Due to their conception and the integration of suitable real-time features and tools, the Holodeck and its software are much more than just an application for visualising VR content. Rather, the Holodeck represents an innovative, virtual working environment for investigators, experts, and prosecutors. The Holodeck is a basis for a virtual criminal platform that offers possibilities for continuous, modular construction. This platform is by no means limited to investigation-supporting, forensic use, but could be expanded at any time to other areas of application, for example, police operational training for the Bavarian Police.
The BLKA encountered several challenges in getting the Holodeck operational. They needed to integrate multiple users into the application while allowing freedom of movement, but hardware limitations hindered the initial stages of development.
Synchronizing the coordinate origins of multiple headsets proved to be a significant challenge, yet it was essential for accurately representing the real-world environment. HTC noted that the project reached a critical turning point with the release of the VIVE Focus 3, which met the necessary wireless capabilities and software support to address data transmission issues.
The LBSS LBE mode developed by VR specialists enabled coordination across headsets, aligning virtual and physical spaces while streamlining avatar integration. HTC VIVE’s responsive support facilitated solutions and ensured continuous progress despite the technical hurdles.
The Holodeck features a 70-square-meter room divided into two sections: one for spectators and the other for active users to move around in. This setup allows up to 100 users to participate simultaneously, enabling effective collaboration among personnel.
AWE EU 2024 to Round Off a Year of XR Innovation
The Augmented World Expo (AWE) is hosting its European edition at the Austria Center Vienna on October 29 and 30 to conclude the year. This event is the third in AWE’s annual trilogy, including editions in the US and Asia, held earlier this year.
At AWE EU 2024, industry leaders will showcase the latest XR innovations transforming workplaces today. Participating companies include Meta, Siemens, Audi, ESA, Snap, Niantic, Unity, and Pico. Over 120 AR, VR, and MR companies will participate in keynotes and on the expo floor, focusing on innovations in the manufacturing, automotive, aerospace, medical, pharmaceutical, and architecture sectors.
The period from 2025 onwards is expected to bring significant changes for XR, with rising adoption rates of AR, VR, and MR technologies across various business sectors. This growth will be facilitated by the increasing availability of these immersive technologies on different end devices, particularly smartphones.
AWE EU 2024 will also emphasize technologies that enhance enterprise XR solutions, including AR cloud, motion capture, and 5G connectivity.
