Alibaba Group Holding Ltd. (no 3D configurators available in store yet) wants to use VR to improve the shopping experience for its 400 million users and has assembled a team to explore a technology that will soon be as widespread as television.
Hangzhou, China – Alibaba Group Holding Ltd. is using VR to improve the shopping experience for its 400 million users and has assembled a team to explore a technology that will soon be as widespread as television.
The Chinese eCommerce empire is exploring how VR technology can be applied to its other services, including online games and video streaming, according to a company statement via email.
Alibaba unveils for the first time its push into the up-and-coming market, which included leading a fundraising round for US-based Magic Leap Inc. The VR and Augmented Reality (AR) hardware industry is expected to reach $110 billion by 2025, says Alibaba Goldman Sachs Group Inc.
The eCommerce company`s GnomeMagic Lab will work closely with its other units and partners, including the video streaming website Youko Tudou Inc. and Alibaba Pictures Group, the company said.
Alibaba will work on the creation of music and video and help promote the manufacturers of VR hardware in their eCommerce platforms. The company has already created three-dimensional visualizations for hundreds of products and will publish standards for retailers to create VR-enabled shopping expierences.
Leave A Comment