Sojitz and infiniteloop Form Business Alliance to Drive Digital Transformation in the Automotive Industry Via XR Technologies (VR, AR, and MR)
Sep. 9, 2020
Sojitz Corporation (“Sojitz”) has concluded a business alliance with infiniteloop Co., Ltd. (Head Office: Chuo-ku, Sapporo-shi, Hokkaido; Representative Director: Kentaro Matsui; “infiniteloop”), a software development company that provides systems VR (virtual reality), AR (augmented reality), and MR (mixed reality), collectively XR (cross reality) . Sojitz will work alongside infiniteloop to pursue joint R&D on XR services and solutions, sales expansion, and business model validation in order to drive the digital transformation (DX) within the automotive industry and beyond.
In the global market for XR hardware, software, and related services, in addition to games and entertainment geared towards general consumers, there is growing demand from businesses for XR services and solutions that can be applied to internal corporate education and training programs, retail sales and services, and construction and maintenance for various types of infrastructure. This demand has boosted overall XR growth, and the market is forecast to go from USD 8.9 billion in 2018 to USD 160.7 billion in 2023, with an average annual growth rate of 78% which demonstrate substantial growth.＊1 In addition to this anticipated growth, recent measures to prevent the spread of COVID-19 infection are shaping a new normal in which industries are accelerating their move towards adopting XR as a new business technology to realize remote, online communication.
The motto at infiniteloop is to be able to create anything using a source code. The company is involved in XR system development, game development, smartphone app development, web app development, and IoT system development. Additionally, infiniteloop has developed an advanced VR live communication service,＊2 which allows multiple users to communicate in real time within a VR space. The company’s advanced technologies also include those to create VR panoramic images and virtual tours,＊3 which are provided to businesses as an effective means of promotion that can attract online consumers remotely.
Through this business alliance, Sojitz and infiniteloop will jointly develop an array of XR services and solutions for both corporate customers as well as general consumers in order to build new business models. Additionally, as the impact of COVID-19 continues to expand over the long-term, Sojitz and infiniteloop aim to provide XR services and solutions to support companies, corporations, municipalities, and educational institutions as they construct new business models suitable for the New Normal in this age of coronavirus.
Sojitz and infiniteloop’s alliance will drive the advance of the digital transformation in the automotive industry. Sojitz has many years of experience in automotive sales both in Japan and overseas, established customer networks expertise, and dealership operations as business infrastructure. Together with infiniteloop’s operation know-how for XR services and solutions in the automotive sector, Sojitz and infiniteloop will build new sales models and after-sales service experiences as part of an advanced initiative.
【A test drive in a portable VR cockpit ／ Driver’s view】
Sojitz and infiniteloop will work alongside partners and customers to bring new technologies such as XR, AI, IoT, and robots to advance the digital transformation across industries and further innovation as a means of providing solutions for social issues and improving people’s lifestyles in order to realize a prosperous society.
*1: IDC, “Worldwide Semiannual Augmented and Virtual Reality Spending Guide 2018H2”
*2: VR live communication service: A service designed and developed by infiniteloop. The company continues to work on development of this service with Virtual Cast, Inc., a joint venture company established in 2018 with Dwango Co., Ltd. This service uses niconico Live, YouTube, SHOWROOM and other video and live distribution services to open a studio that enables multiple users to communicate in real time. It has an extensive track record providing this service not only to average users, but also to major convenience store chains, major IT companies, major TV stations, and major retailers.
*3: Panoramic images and virtual tours: This service can be utilized for real estate sales, such as virtual tours for homes and condominiums; virtual guides for hotels, inns, shopping centers, shopping districts, amusement parks, and theme parks; and virtual tours for restaurants and wedding venues.
Company Overview – infiniteloop Co., Ltd.
|Head Office||1-1, Kita 1-jo, Higashi 4-chome, Chuo-ku, Sapporo, Hokkaido|
|Representative Director||Kentaro Matsui CEO/President|
|Main Business||Development of VR, AR, MR; game development; mobile app development; web app development; IoT system development; server protection and Linux server building; performance tuning|