US virtual reality (VR) and augmented reality (AR) enterprise software vendor and services provider Glimpse has launched an Australian operating hub.
The expansion is based off the company’s acquisition of Sydney-headquartered AR software vendor and services provider Auggd, which it acquired back in August 2021.
Known as Glimpse Australia, the new entity will use Auggd's existing operations and clients as a starting point for regional expansion.
These operations include AR software and services for the architecture, engineering and construction (AEC) industry in Australia, Europe, the Middle East and the US.
"The AEC market represents a significant strategic market opportunity for Glimpse,” said Lyron Bentovim, president and CEO of Glimpse Group. “Auggd is well-positioned to capture an increasing share and drive the adoption of these novel technologies.
“We look forward to building out Glimpse's AEC client pipeline together with Auggd in Australia and the rest of the globe.
"Auggd has built a respected reputation in Australia with clients across industries that also include automotive, consumer goods and technology, sales and marketing and education. We see tremendous growth potential in the Australian market and look forward to future partnerships."
Glimpse claims Auggd also has successfully deployed “hundreds” of mobile AR apps across a range of industries.
"We are thrilled to launch Glimpse Australia after Auggd joined Glimpse's diverse and robust ecosystem of VR and AR companies,” said Matthias Krampe, general manager of Auggd under Glimpse.
“Australian clients now have the opportunity to leverage Glimpse's technology solutions, and in turn, open the Australian enterprise market to Glimpse's VR and AR subsidiary companies."
Glimpse Australia’s launch should come as no surprise with VR technology expected to make a big splash in the enterprise market over the next few years, according to analyst firm IDC.
In October 2021, it claimed the total global value of three emerging technology categories – VR and AR headsets, smart home devices and wearables – is expected to reach US$369.6 billion by the end of the 2021 calendar year and swell to US$524.9 billion by the end of 2025.
Of the three segments researched by IDC, VR and AR hardware is expected to see the fastest growth in value over the coming years, albeit from a lower base, with the anticipation of new devices coming to market from both established and start-up companies and a warming reception among new users.