Augmented reality devices and services are really booming. According to Morgan Stanley, the total revenue produced by AR devices will raise from $54 billions in 2018 to $115 billions at the end of 2020 and will generate also a service market worth $50 billions in the next twelve months. A relevant share of this boom is due to a quick increase in the app market, where you can find AR/VR implemented or used in standalone apps: a business volume expected to reach $3.3 bln this year (3x growth compared to 2018!), in overpaced race to $15.5 forecasted by Tractica in 2022.
Some of the most challenging applications of AR and VR technologies are expected in several business industries, from e-commerce to entertainment, from prototyping to fashion and lifestyle, until the very last mile consumer apps and services. Among these we spotted VUFRAME in some of the latest startup events worldwide (Techcrunch Disrupt, Slush, CES and many others we constantly crave on). VUFRAME app is a versatile tool to instantly preview 360 Media, Realtime 3D, Augmented Reality and Virtual Reality content. You can edit and update any time in the Vuframe online dashboard, see all changes immediately in your app and share your experiences via web, mail or social media.
We interviewed VUFRAME founder to have a closer look at AR opportunities:
VUFRAME: when and why did you decide to found it? I founded Vuframe in 2015 after working in the computer games industry for 10 years. I wanted to utilize my know how about 3D and interactive worlds in a new way – just then the first iPad was released. It was a perfect fit and the vision was clear: 3D product previews that run on smart devices and are compatible with Augmented and Virtual Reality – like Pokemon but for grown-ups. I knew companies would love it and save a lot of time and money with it.
How did you manage your early stage funding? I met Vuframe’s first angel investor in the course of an international cooperation. We took some time getting to know each other before we shook hands on creating the company. In 2017 two more angels came on board to support us with capital and their unique know how.
How can AR solutions like Vuframe improve the user experience in e-commerce and offline retail world? Can you share with us a couple of case studies in the home & living and fashion industries of Vuframe? We actually wrapped all the latest cutting-edge technology like augmented and virtual reality into a standalone product we call SmartView – which is like Youtube but for products in 3D. For example, if you want to buy your new sofa online and you’re not sure if it really fits into your living room, you can simply place it there in AR and save the costs of returning it.
How did it go at Disrupt Berlin? Disrupt Berlin was great for connecting with other startups and promoting our company. It was our first TechCrunch event and we absolutely loved the vibe and setting. We’ll definitely be back! Unfortunately, last year, we didn’t participate at the startup battlefield event but maybe you’ll see us there this year!
What markets are you approaching and what are the next milestones in establishing your business? Vuframe SmartView is a turn-key solution that offers immediate benefits for many different industries like fashion, Home & Living, Business Goods or the manufacturing industry. In 2019 we will make it even easier to create SmartViews for your own products by providing a simple online 3D editor. Additionally, we just acquired our first company – Matrixworks – who has a great product for VR collaboration. We’ll integrate this functionality and offer a completely new type of SmartView later this year – one which will disrupt the way design iterations and employee training are done in many different industries.
What e-commerce or tech startups are going to reshape the market? Slack is already doing so – we just love it. We met a guy from Munich last year who has a company called Suchdadada which allows retailers to compete with Amazon and gets you your product on the same day from a retailer that has it in stock. I think that’s something that could take off.