The number of companies focused on developing augmented reality (AR) applications grew 60% in Q2 2017 over the previous quarter, according to the Venture Reality Fund’s AR industry landscape report. The VR Fund identified 150 companies focused on AR in Q2, which reveals the entrance of 56 new AR-focused companies from Q1.
Notably, the VR Fund found that this small lift but significant growth was largely catalyzed by the release of new AR tools by key players in the industry during the first half of 2017.The introduction of news tools and platforms by digital giants like Facebook and Microsoft offer developers and content creators the ability to craft better AR content and more easily reach a desirable audience with their creations. This smoother pipeline to AR likely encouraged developers and businesses to focus on the nascent AR space when previously it may have seemed too arduous to get started.
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