Magic Leap Bounds Into The Business World

Back when we reviewed the Magic Leap entertainment headset in 2018, we thought it was a significant leap ahead in AR technology. It was a stunning slim and light option to mixed reality headsets which had the potential to deliver some amazing end-user experiences. Magic Leap's most popular product was unable to impress, much like similar products like Google Glass.

For whatever reason - perhaps a lack of proper marketing, or a higher-than-affordable price tag, the Magic Leap One headset just didn't get the hype that it wanted (or deserved). Magic Leap isn't giving up in the field of AR as of yet and that's a good thing to AR users. It has slid into the abyss of the consumer market and pivoted to a fresh strategy using business technology.

Augmented Reality For a New Crowd

Magic Leap Enterprise Suite products are aimed towards the business world, which includes the healthcare sector. It has been proven that the healthcare industry may be among the leading adopters of these new technology for virtual and augmented reality, particularly as telehealth becomes more common.

The enterprise suite from Magic Leap will enable modern employees to make use of things such as spatial computing to develop new techniques, handle information, and work in a completely new way that uses 3D-based visualisation. Magic Leap believes that focusing on the work environment and not the consumer market, will help it to recover from the lack of reception for it's Magic Leap One Creator Edition of gaming equipment. Rony Abovitz was Chief Executive Officer at Magic Leap and he expected that the headsets would sell 1 million units in the initial year.

It wasn't just wishful thinking either - the Florida-based company raised $3.13 billion in venture capital in order to bring its ideas off into the ground. Unfortunately, just 6,000 of the futuristic headsets were offered through the firm based in Florida the initial half of.

magic leap in Spatial Computing

Although it was comfortable, engaging, and unique however, it was a bit clunky, immersive and unique. Magic Leap technology just didn't connect with consumers as effectively as they had hoped. Fortunately, Chief Product Officer Omar Khan, says that there are still opportunities for Magic Leap to get the edge on competitors in the field of VR and AR. This move into the business landscape could signal the start of a new chapter for Magic Leap and the spatial computing sector. Magic Leap believes the new approach could open up more opportunities for business growth for all its stakeholders.

The decision to concentrate on the business market can lead to new opportunities to Magic Leap, it's also important to note that it places Magic Leap in direct competition with some major brands. Major companies such as Microsoft and Google are already building their own AR applications for industry. There could be room for a competitor such as Magic Leap to sweep in and grab a slice from the pie. From banking to healthcare and investment, a variety of industries have shown that they are more flexible to AR.