Total Telecom reported that the world of Extended Reality or XR offers infinite potential, according to the speech by Dr. Philip Song, Chief Marketing Officer of Huawei Carrier, about the XR industry at the ongoing Mobile World Congress (MWC) 2022.
“Besides device availability, the most important thing is content. Large sales of hardware and profitable software are the pre-condition for a healthy industry”
The XR industry will contribute US$1.5 trillion to the global GDP by 2030. Dr. Song added that following the mobile internet, ‘Spatial Internet’ will be the next big thing.
Device availability is playing key role. In 2021, more than 10 million units of Oculus Quest 2, a VR headset, were shipped. Ten million users will be the critical mass for the XR ecosystem to take off.
Secondly, the price of VR devices continues to drop, making them affordable for more people. Lastly, continuous innovation in XR technologies has made it possible to deliver a generational leap in user experience.
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On the other hand, content is championing XR growth. Large scale development of games and gaming platforms is also acting as a catalyst to boost the XR industry. “Besides device availability, the most important thing is content. Large sales of hardware and profitable software are the pre-condition for a healthy industry,” shared Dr Song. Moreover, XR developer tools are also more common with the continuous innovation of technologies.
In order to grab a pie of the XR market, telecom operators should identify the right industries and defining the right business models. XR markets should be reviewed first. Factors such as application potential, regional industry concentration, technical feasibility, and commercial feasibility should be considered.
In the consumer space, operators can start off by offering XR services as part of the 5G package to get users on board and gain confidence then move on to premium content and scenario-based experience monetization.
Dr. Song believes that with industry-wide collaboration, 5G+XR will have a bright future. The best way to predict the future is to create it.