The automotive industry is in a race to identify and develop feasible commercial models for Augmented Reality (AR), a state-of-the-art technology that displays AI-generated information over a physical environment. The U.K based Envisics, a leader in the field of holographic technology has received an investment of $50 million in funding from some of the largest blue-chip automotive companies and strategic investors.
The group of automotive giants betting big on the future of holographic technology includes Hyundai Mobis, a leading global OEM parts supplier, GM Ventures, General Motors investment arm, SAIC Capital, the corporate venture capital subsidiary of SAIC Motors and Van Tuyl Companies, a US-based management consultancy and investment firm.
The new holographic heads-up technology is more in line with that typically found in commercial aircraft or fighter jets and cars provide enhanced ‘dashboards’ of information directly in a driver's field of vision. The AR HUD would display features like GPS, navigation guidance, and safety alerts that interact with real-world objects from data gathered by the vehicle’s sensors. This allows a car’s driver assistance system to highlight potential hazards on the road via the windshield, or project navigation symbols onto the road ahead of the driver.
An AR HUD offers other benefits including high resolution, ultra-wide color gamut, and significantly lower power consumption. Envisics expects to be able to augment the driver's view of the road over three lanes across and up to 100 meters into the distance. This will suddenly make the current giant iPad-like screens, audible alerts, and flashing symbols that manufacturers like Tesla favor seem very outdated.
Envisics AR HUD solves the current problems of quality degradation and processing delay that limit current digital hologram technology. The AR HUD takes advantage of deep learning-based algorithms to provide a wide viewing angle with software alone. This negates the need for an additional optical unit, thus reducing the size of the componentry.
Automakers like BMW have already embraced a form of heads up display (HUD) to project information like vehicle speed and basic navigation onto the front windshield. These HUD systems only offer basic graphical functionality with a limited field of view and act as a secondary display for information already visible elsewhere in the vehicle.
Hyundai Mobis will develop the AR HUDs jointly with Envisics and is currently in the initial market creation stage with mass production expected between 2023 and 2025. Despite unclear global business conditions, AR HUD is considered a major field that will expand competitively in the next 10 years. The global AR HUD market is expected to grow by at least 12% on average every year to nearly $2.5 billion by 2025. Currently, Envisics is the only company experienced in mass-producing HUDs based on dynamic holography.
Initially, ENvisics will focus on the prestigious end of the market by integrating its technology into models from Jaguar and Land Rover. General Motors is hoping to use the technology to enhance hands-free driving in future EVs like the Cadillac LYRIQ.
Dr. Jamieson Christmas, the founder and CEO of Envisics commented:
“Enhanced in-car experience is the next automotive revolution that goes hand in hand with electrification and the development of autonomous vehicles. Our technology is class-leading and is extremely well placed to meet current and future requirements.
Successfully closing this significant Series-B funding round, especially in light of the challenging business climate, is a pivotal moment for Envisics. The addition of these blue-chip automotive companies to our shareholder base will be instrumental in guiding Envisics to future success as we focus upon the commercialization of our true holographic technology.”
