1. AR standard:
The industry’s first augmented reality (AR) technology standard drafted by SenseTime in collaboration with China Electronics Standardization Institute, Zhejiang University, OPPO, Xiaomi, Baidu, iQiyi and many other companies and research institutions are officially approved and released. (Laoyaoba, Sohu, 163)
2. Mobile AR
Pinterest is expanding its virtual makeup try-on capabilities with the launch of a new augmented reality (AR) feature that allows online shoppers to virtually try on new eyeshadow. Initially, Pinterest is allowing try-on with 4,000 shades from brands like Lancome, YSL, Urban Decay and NYX Cosmetics. (TechCrunch, Pinterest)
Snap is expanding in promising new directions. Snap has launched 15 different products and functionalities using augmented reality (AR) for businesses in just the first 9 months of 2020. Deutsche Bank analyst Lloyd Walmsley believes that in the next few years, the potential revenue of a single AR lens and AR filter advertising can reach USD4B, more than double the company’s total revenue in 2019. Snap’s Snap Map launched in 2017 also brought a lot of revenue. Jefferies analyst Brent Thill has said that Snap Map may be Snap’s most undervalued asset at the moment, and is expected to increase the company’s annual advertising revenue by USD1.5B by 2023. (CN Beta, Sohu, WSJ)
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