ARuVR’s 2022 Growth Marks Market Shift for 2023
29 December 2022
The immersive training industry faces a double-edged sword of a rapid uptake adoption and conversely, limitations from current hardware and software solutions.
Despite this, firms are working to deliver innovative platforms capable of delivering hardware-agnostic, bespoke content delivery systems designed to scale for the enterprise.
London’s own ARuVR, a turnkey AR and VR Software-as-a-Solution firm, has seen impressive growth rates of over 320 percent in 2022 due to a rapid convergence of customer needs and technological advancements.
The company continues to achieve numerous successes for its proprietary, agile platform. Its successes have helped its continued innovation and milestones since its founding in December 2018.
These achievements have allowed ARuVR over three years of research and development (R&D) to develop into a formidable enterprise-grade platform for collaborative immersive training solutions.
These can train workforces flexibly from any location in the world, using unicast, multicast, or omnicast broadcasting, and uniquely overcoming any latency issues.
AR/VR Market Figures and Forecasts
According to a report from Allied Market Research, the global AR and VR industry reached 27.6 billion USD in 2021. It is also expected to top $856.2 billion by 2031 with an overall compounded annual growth rate of around 41.1 percent.
This is due to the significant adoption rates of immersive technologies, with many companies turning to VR, AR, and MR solutions to tackle ongoing disruptions from the COVID-19 pandemic.
Numerous benefits from use cases involving instruction, training, engagement, and collaboration have fuelled surges in the global adoption of such technologies, leading to a renaissance in the immersive market.
Here are some of the top takeaways from ARuVR’s 2022 achievements:
Immersive Learning Patents and Intellectual Properties (IP)
Amid the increasing rivalry for top places in the emerging immersive market, ARuVR has secured a multitude of patents and IP for its numerous solutions valid for up to 20 years.
The UK Intellectual Property Office (UK IPO) granted the company patents totalling 15 submissions for its “Virtual and Augmented Reality units, systems and methods.”
The new patents aim to enhance multi-user immersive training with AR and VR, which requires high-bandwidth, low-latency innovations at scale. These can drive collaboration and accommodate increasingly connected training facilities and virtual spaces.
Investors Recognise Enterprise Opportunities
ARuVR also reached a significant milestone after it received a multi-million investment from several key strategic investors on March 22, including British and Irish capital investors BGF and Symvan Capital.
This allowed then-VRtuoso to rebrand as ARuVR to reflect a scaling up of its product lineup for clients and future operations.
The funding also helped it to cement its position as one of the world’s premier platforms for on-the-fly worldbuilding, deployment, and device management across devices.
The company also relocated its office to the prestigious 99 Bishopsgate skyscraper in the heart of the City of London.
Crown CCS and G-Cloud Accreditation
On December 22, the company announced it had stepped up its efforts to become one of the most secure, trustworthy XR platforms on the market. It revealed it had become the first AR/VR enterprise in the UK to receive supplier status for G-Cloud 13 and Crown Commercial Service (CCS).
G-Cloud 13 2022-2023 provides companies working with British public institutions such as the UK government, education, healthcare, police and first responders to supply goods while following UK institutional guidelines. The framework also expedites procurement services for UK public sector entities.
The accreditation allowed ARuVR to become the first AR/VR firm to achieve this status, paving the way for public sector groups to digitally transform via immersive technologies.
World-First Omnichannel XR Learning Solution
The immersive technology firm also made headways in the XR market. This comes after a major partnership with metaverse enterprise Virbela on April 22. In the joint effort, both companies launched plans to collaborate on marketing and product integration.
Showcasing its products on May 22 at the Learning Technologies Exhibition, ARuVR unveiled the omnichannel solution. The new product will combine VR, AR, human holograms, and metaverse technologies with six degrees of freedom (6DoF). This aims to significantly deepen immersion levels to improve learner retention rates and interactivity.
Awards, Accolades, and Advancements
ARuVR received many third-parties and industry leaders’ recognitions during 2022 such as:
Learning Technologies Awards 2022
ARuVR was shortlisted for three awards for the industry’s biggest honour in Learning and Development (L&D). Amazingly, the company received a Gold Award for ‘Best Digital Learning Transformation Programme.’ Roughly 60 judges nominated ARuVR out of 450 global applications for two additional categories – ‘Most Innovative New Learning Technologies Product’ and ‘Best Use of Simulations or Virtual Environments for Learning.’
Med-Tech World Awards 2022
The company demoed its immersive training platform for the healthcare and medical industries. The immersive demonstration provides live 360-degree immersive interactive videos for students. ARuVR received praise for its XR system for providing remote access to on-demand sessions, surgeries, lectures, and other 360-degree content. ARuVR collaborated with the University College of London for the solution, winning the ‘Health Education Using Tech of the Year award.
Enterprise Awards 2022
Considered the “Oscars of the Tech Industry,” the Enterprise Awards nominated ARuVR’s Frank Furnari for its Emerging Entrepreneur category. The award recognised his efforts to build ARuVR as a world-first enterprise XR solution.
International VR Awards 2022
Judges from the annual VR Awards nominated ARuVR as a finalist for ‘Innovative VR Company of the Year.” Hosted by the Academy of International Extended Reality (AIXR), the event’s 70 judges and steering board picked ARuVR from hundreds of entries.
Learning Awards 2023
Carefully selected by the Learning and Performance Institute’s (LPI) panel of judges, ARuVR gained additional nominations for its ‘Learning Platform of the Year’ and ‘Digital Learning Transformation of the Year.’ This comes amid entries from more than 500 entrants across 56 nations, proving a successful venture in the XR industry. Judges selected ARuVR and others based on their exemplary innovation, contributions to education, and other key marks.
Growing Client Portfolio
ARuVR’s recognition across the immersive industry and other key sectors has led to a growing number of new clients. Some of the world’s largest and most reputable enterprises have leveraged ARuVR’s solutions to train, upskill, educate, and inform users. This aims to keep learners competitive and prepared for a capricious, disruptive industry.
New clients have included: Coca-Cola, Aramco, the UK Government, Five Guys, and Ernst & Young (EY) to name a few and were added to existing clients including NEOM, BT, LNER, PwC, Telecom Italia, among many other international clients.
The Road Ahead for Immersive Training in 2023
ARuVR’s success has been built on a stellar team and executives, and ARuVR expects this to continue throughout 2023.
As people look to 2023 with renewed optimism while reflecting on an unpredictable 2022, the global immersive market expects several trends to emerge, including:
- The continued merging of AR and VR experiences across industry verticals
- A resurgence in AR smart glasses following the release of Qualcomm’s AR2 platform
- Continuous uptakes of immersive learning tools to rapidly upskill workforces and tackle the ongoing labour crisis
- The birth of XR ecosystems across devices. This comes after the release of the Meta Quest Pro, Pico 4, Pico Enterprise, Lenovo VRX, HTC Flow Business, and others
- A massive expansion of XR use cases and new applications for the technology
- The expansion of the industrial metaverse via partnerships between real-time 3D (RT3D) engine firms Unity and Epic Games, graphics technology firms like NVIDIA, and major infrastructure providers seeking digital twin technologies.
Other trends are sure to take the industry by surprise with many enterprises keeping their eyes open for any new developments. ARuVR expects to meet both the challenges and projected growth in XR adoption, leaving behind the uncertainty of 2022.
This article first appeared in XR Today, 28th December 2022