Extended Reality (XR) News

Recent industry report about Extended Reality (XR) company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Extended Reality (XR) Market industry experts.

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Extended Reality (XR) News

  • November 2022: Varjo launched a platform for Unreal Engine and Unity projects for its VarjoReality Cloud platform. This ready-to-use enterprise software as a service (SaaS) primarily enables real-time VR/XR cloud streaming capabilities anywhere and at any time to supported devices, especially for professional users.
  • October 2022: Talespin declared new funding from the WestRiverGroup. The deal includes Talespin'sstrategic acquisition of the 'Pioneer Adaptive Learning Platform' and the addition of new employees and advisors from Singularity.
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  • April 2023: DXC Technology announced the release of DXC Secure Network Fabric, a hybrid cloud-optimized comprehensive data center platform. DXC Secure Network Fabric, developed in conjunction with Hewlett Packard Enterprise and AMD, is a comprehensive software-defined data center system that automates, modernizes, simplifies, and secures the data center networks at a reduced cost.
  • January 2023: Hybrid cloud data management and storage technology vendor, Cloudian closed a fund-raising round of USD 60 million which was to be used to scale the company to meet an increasing number of use cases. The fund-raising round includes investments from multiple investment firms and Intel Capital, and other strategic investors. The total funding in Cloudian reached USD 233 million.
  • March 2022 - Phillips Connect made several announcements to support fleets and drivers in utilizing smarter trailers. Among these were new intelligent nose box gateways, backup cameras, and a collaboration with Utility to launch the Utility Connect trailer telematics system, which shows the market’s growth potential.
  • February 2022 - LG received an order from a classified Premium European finished car manufacturing company for implementing connected car telematics. According to the deal, LG will focus on delivering vehicle-to-everything (V2X) systems-compliant hardware and software for cutting-edge 5G network integration. LG will also offer Dual Sim Dual Active (DSDA) technology for connected cars and autonomous driving features, taking its steps forward into the Society of Autonomous Engineers (SEA's) Level 4 Autonomous driving technology sometime soon in the future.
  • Mar 2023: CSI, an end-to-end fintech and regtech solution provider, partnered with Hawk AI, a global anti-money laundering (AML) and fraud prevention technologies for banks and payment processors, to provide its latest products, WatchDOG Fraud and WatchDOG AML. Artificial intelligence (AI) and machine learning (ML) models in the products enable multilayered, automated oversight that monitors, detects, and reports fraudulent or suspect activity in real time. WatchDOG Fraud detects fraudulent trends across all channels and payment types by monitoring transaction behavior.
  • Jan 2023: Inscribe raised USD 25 million to fight financial fraud with artificial intelligence. Inscribe parses, classifies, and data-matches financial onboarding documents, emphasizing any inconsistencies between the papers provided and documents recovered using its AI-powered fraud detection. Individual customer risk profiles, which include snapshots of bank statements and transactions, are generated automatically using document details such as names, addresses, and bank statement transactions.
  • June 2022 - Metso Outotec collaborated with Dynamox on using Dynamox's condition monitoring platform in mining and aggregating processes. Metso Outotec is offering the solution to the company's installed equipment base. Dynamox is an addition to Metso Outotec's partner ecosystem and helps develop and provide easy-to-use and sustainable digital solutions to customers. The company is further upgrading in mining using AI and analytics solutions.
  • May 2022 - Epiroc's new Boomer S10 S gives a major leap in the productivity of mine development and cost-efficiency. The Boomer S10 S provides near-surgical precision in drilling and major cost savings throughout the cycle. Boomer S10 S offers up to 25 % more development than traditional one-boom jumbo when applying the high-performance development method, which works during the entire drill cycle in the mining operations.
  • January 2023: Dahua Technology has announced to release of the EACH series 2-wire hybrid video intercom system for villa scenarios. The new EACH series features enhance user experience, high-quality images, and ease of use. The video intercom system is a plug-and-play system that does not require configuration and provides accessibility, extensibility, and convenience in the field of smart buildings.
  • October 2022: ASSA ABLOY acquired the makers of DoorBird. The ASSA ABLOY Group has acquired 100% of the shares in Bird Home Automation GmbH, the makers of the DoorBird video doorbell. ASSA ABLOY announced that the acquisition of DoorBird will reinforce its IP door intercom offerings and provide complementary growth opportunities.
  • March 2023: Kind LED Grow Lights, one of the leading providers of LED grow lights, launched its latest product, the X1 Greenhouse LED Grow Light. With less energy consumption, the X1 Greenhouse LED Grow Light is designed to maximize crop growth and quality. It uses the most recent LED technology and a spectrum tailored specifically to plants to meet their needs for optimum growth.
  • April 2022: The P100-M Smart Greenhouse was officially opened by the Department of Agriculture's Regional Field Office 10 (DA-RFO 10) inside its research facility, the Northern Mindanao Agricultural Crops and Livestock Research Complex (NMACLRC) at Dalwangan, Malaybalay City, Bukidnon. The Ministry of Agriculture, Food, and Rural Affairs (MAFRA) of the Republic of the Philippines and the South Korean government collaborated on the cutting-edge agricultural project known as the Smart Greenhouse, which uses Smart Greenhouse Technology to produce strawberries, cherry tomatoes, and white potatoes in innovative ways.
  • March 2023: KORE Group Holdings, a global player in pure-play IoT solutions and connectivity-as-a-service ("IoT CaaS"), has agreed to purchase Twilio's IoT business division as part of a growth strategy to offer customers a unified, smooth approach to launching IoT solutions.
  • November 2022: A Memorandum of Understanding was signed between Disrupt-X, an IoT platform provider based in the UAE, and LORIOT, a global IoT company based in Switzerland, to assist in deploying the next generation of IoT solutions leveraging the adequate LoRaWAN infrastructure. The alliance plans to market IoT products primarily in the European market.
  • February 2022: Astrocast, a global nanosatellite IoT network, announced a partnership agreement with IoT service provider, UnaBiz, to develop an end-to-end IoT solution for asset tracking and monitoring. Through the partnership, Astrocast will provide its direct-to-satellite data service offering and consulting services to UnaBiz. Furthermore, UnaBiz is expected to facilitate the onboarding of Astrocast-enabled devices on UnaConnect, and an ISO27001-certified IoT device management data platform that manages close to a million IoT devices.
  • February 2022: Boingo Wireless, a total connectivity provider of distributed antenna systems (DAS), Wi-Fi, and private network, announced its partnership with Qualcomm Technologies Inc. and the Qualcomm Smart Cities Accelerator Program ecosystem to streamline the deployment of IoT devices for venue and enterprise customers leveraging the Qualcomm IoT Services Suite.
  • Feb 2023: RWS announced the launch of its TrainAI brand, offering clients complete, end-to-end data collection, data annotation, and data validation services for all types of AI data – in any language, at any scale, where TrainAI provides machine translation and AI training data services to improve the quality of machine learning models and AI applications for the world’s largest organizations.
  • Sept 2022: Tarjama, an Arabic machine translation (AMT) website called Tarjama Translate, was launched by a language services provider in the MENA region, with a focus on businesses that need quick access to translation in order to reach Arabic-speaking clients.
  • Apr 2023: Cadwell Industries Inc. announced the US launch of Voyager for remote wireless access to in-home EEG monitoring with video. Now that Arc Apollo+ has EEG data collection with automatic data backfill, doctors and technologists can remotely access real-time EEG data and video from patients operating in-home. This feature is designed to enable thorough real-time analysis with a complete data set for daily reporting.
  • Jul 2022: Tobii was selected by Sony Interactive Entertainment to be the eye-tracking technology provider for PlayStation VR2. The partnership with Sony Interactive Entertainment (SIE) is further evidence of Tobii's ability to provide cutting-edge solutions at a mass market scale using its world-leading technology. PlayStation VR2 sets a new standard for immersive virtual reality (VR) entertainment and will allow millions of users to experience the power of eye tracking globally.
  • May 2022: Semtech Corporation stated that Boluda Corporación Maritima, a prominent international provider of maritime services, will use an asset tracking solution from WITRAC, a Valencia-based company that offers advanced technological solutions that connect and give visibility to the value chain. With over 350 successful journeys, WITRAC's Total Track & Trace Intelligent Platform, integrated with Semtech's LoRa devices and the LoRaWAN standard, transports cold chain assets in Boluda's supply chain and offers the Canary Islands the premier daily cargo service from the peninsula.
  • April 2022: Accruent, the prominent provider of built environment management solutions, announced a partnership with Advanced Idea Automation Services & Technologies, a provider of control and automation services and solutions for water and wastewater, HVAC, district cooling, food and beverage, pharmaceuticals, and oil and gas, to offer enterprise asset management solutions through computerized maintenance management system software (CMMS) worldwide. These firms provide a one-stop service for streamlining plant asset maintenance procedures and lowering maintenance expenses while boosting output, effectiveness, and asset reliability through combined efforts.

Extended Reality Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)