The Metaverse is a 3D interactive universe that spans augmented and virtual reality (AR/VR). But the key to bridging the material world and the virtual world is through wearable technology, such as virtual goggles, headsets, gloves, and eventually, sensor suits.
And wearable technology is going to be huge. According to one report, the wearable technology market is forecast to grow from $119.6 billion in 2021 to $385.8 billion in 2030, expanding at a compound annual growth rate of 13.9%.1
Those companies with the biggest stronghold in the wearable technology department will have a big leg up on their competitors. For instance, the most popular VR headset is the Oculus Quest, developed by Facebook’s parent company Meta Platforms Inc. in 2019. In October 2022, the company teased a new wearable that users can control with their brains.2
In December, Meta announced it acquired Luxexcel, a Dutch startup specializing in smart eyewear. Financial terms were not disclosed; however, Luxexcel first made news when it used 3D printing to make prescription lenses for glasses. Today, its efforts are focused on smart lenses, which can be printed with LCDs and holographic film.3
After seven years of development, Apple is also expected to announce the launch of the “Reality Pro,” a mixed-reality VR headset this spring. The first deliveries are expected this fall, just in time for the holidays.4
NVIDIA Corporation and AI Software for Healthcare
NVIDIA Corporation said that its NVIDIA DGX SuperPOD and NVIDIA Clara are being used by VinBrain to detect abnormalities and accelerate the time it takes to diagnose with artificial intelligence (AI).5
VinBrain, a Vietnam-based health-tech startup, is the creator of DrAid, the only AI software for automated X-ray diagnostics in Southeast Asia, and among the first AI platforms to be cleared by the FDA to detect collapsed lungs via chest X-rays.
VinBrain is also building a number of other AI applications, including a telehealth product that analyzes lab test results, medical reports, and other electronic health records.
VinBrain is part of NVIDIA Inception, a global program designed to offer startups expertise, technology, and go-to-market support.
With the help of the program, VinBrain was able to launch DrAid Appliance, an on-premise, NVIDIA GPU-powered device for automatic screening of medical imaging studies that could improve doctors’ productivity by up to 80%, the team estimates.
NVIDIA’s computing technology accelerates and connects 3D worlds and workflows, enabling new ways to visualize, simulate, and code the metaverse.
PTC Inc and ServiceMax for Closed-Loop PLM
PTC Inc is a global technology company that provides its product lifestyle management (PLM) customers with software and professional services that enable the digital transformation of their products through computer-aided design (CAD), Industrial Internet of Things (IIoT), and Augmented Reality (AR).
The company recently announced it completed the $1.46 billion acquisition of ServiceMax, a developer of cloud-native field service management software. The acquisition is designed to strengthen PTC’s closed-loop product lifestyle management offerings.6
In fact, with this acquisition, PTC is the only company that can offer manufacturers a comprehensive view of their products at each stage of the lifecycle.7
Closed-loop PLM is a way to collect and extract useful information to better develop new product capabilities, improve business opportunities, and enhance communication between teams.
With regards to the metaverse, manufacturers and engineers could use PLM to communicate and collaborate more easily, allowing them to share designs, test products, and securely troubleshoot issues.
The technology could also be used in richly immersive 3D environments where “mixed reality” data is overlaid in the real world, allowing users to make use of real-time data in an industrial setting.
MESH ETF: Investing in the Metaverse
If you’re interested in investing in the metaverse, consider the Evolve Metaverse ETF (MESH ETF), Canada’s first metaverse ETF. MESH ETF provides investors with an actively managed diversified portfolio of companies involved in the development of the metaverse. To learn more about MESH ETF, please click here: https://evolveetfs.com/mesh/.
MESH ETF PORTFOLIO STRATEGY AND ACTIVITY
For the month, Coinbase Global Inc made the largest contribution to the Fund, followed eXp World Holdings Inc, and NVIDIA Corporation. The largest detractors to performance for the month were Ubisoft Entertainment ADR, Activision Blizzard Inc, and Cisco Systems Inc. On the last rebalance, PTC Inc was added to the portfolio.
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- Wearable Technology Market Size, Share & Trends Analysis, By Product (Bodywear, Neckwear), By Device (Fitness, Smart Watches, Smart Glasses), By Application (Lifestyle, Consumer Applications, Entertainment), Region and Forecast Period 2022 – 2030,” Market Research Community, last accessed February 7, 2023; https://marketresearchcommunity.com/wearable-technology-market/?gclid=CjwKCAiAioifBhAXEiwApzCztkJILaJzfnuwAEL4QMK8t7KkZlqfZTLoCuFIWjqshrQfy33NGgMIGhoCJYAQAvD_BwE.
- “Meta Connect Keynote 2022,” Meta Platforms Inc, October 11, 2022; https://www.youtube.com/watch?v=hvfV-iGwYX8.
- Silberling, A., “Meta acquires Luxexcel, a smart eyewear company,” Tech Crunch, December 30, 2022; https://techcrunch.com/2022/12/30/meta-acquires-luxexcel-a-smart-eyewear-company/?guccounter=1.
- Gurman, M., “Apple Will Talk Up Its Mixed-Reality Headset in 2023 But Not Much Else,” Bloomberg, January 8, 2023; https://www.bloomberg.com/news/newsletters/2023-01-08/when-will-apple-launch-the-reality-pro-mixed-reality-headset-apple-2023-devices-lcnfzkc7.
- “Vietnam’s VinBrain Deploys Healthcare AI Models to 100+ Hospitals,” NVIDIA Corporation, February 7, 2023; https://blogs.nvidia.com/blog/2023/02/07/vietnam-vinbrain-deploys-healthcare-ai/,
- “PTC Completes Acquisition of ServiceMax, January 4, 2023; https://investor.ptc.com/resources/news/news-details/2023/PTC-Completes-Acquisition-of-ServiceMax/default.aspx.
- “PTC To Acquire ServiceMax To Bolster Field Service Management,” CRN, November 18, 2022; https://www.crn.com/news/software/ptc-to-acquire-servicemax-to-bolster-field-service-management.