Hyundai to develop holographic AR navigation
Seen above is a computer-generated image of WayRay's holographic augmented reality navigation system. Hyundai Motor decided to invest in the Swiss technology company to develop a holographic navigation system. / Courtesy of Hyundai Motor
By Park Jae-hyuk
Hyundai Motor aims to install a holographic augmented reality (AR) navigation system in its vehicles starting 2020, through its recent investment in Swiss technology firm WayRay, the carmaker said Wednesday.
Founded in 2012, WayRay has emerged as a premier developer in connected cars by applying aerospace technology to land navigation. The Swiss company has an R&D center in Russia, and in January showcased its holographic AR heads-up display at the CES 2018 held in Las Vegas.
The company recently raised $80 million from Hyundai, Porsche, Alibaba Group, China Merchants Capital, JVCKENWOOD and a consortium of sovereign wealth funds. Hyundai did not provide the amount of its investment.
“WayRay has remarkable expertise in both hardware and software developments for holographic AR display systems,” said Chi Young-cho, chief innovation officer and executive vice president of Hyundai Motor Group.
“The Hyundai-WayRay collaboration will help us establish a brand new eco-system that harnesses AR technology to enhance not only navigation systems but establish an AR platform for smart cities and smart buildings, which are Hyundai Motor Group's new business interests in the long term, that will provide innovative customer experiences.”
WayRay CEO Vitaly Ponomarev said: “As a deep-tech company, we are committed to creating fundamental innovations that bring us far beyond holographic AR displays and new interfaces. A growing number of projects with carmakers and strong investors are fueling the company's growth and boosting our confidence in implementing complex innovations. We are proud to be recognized as a reliable partner able to meet the high standards set by investors such as Porsche and Hyundai.”
Compared to the conventional heads-up displays on the market, WayRay's holographic AR system uses a small projector that can be installed in almost any car.
The system can create a realistic AR experience, where virtual objects are seamlessly integrated into the world around the car. Its wide field of view allows for displaying more virtual objects at a comfortable distance for drivers' eyes.
With the recent investment, Hyundai is seeking to apply holographic technology to wearable robots that the group will develop as its new growth engine. Hyundai Mobis and Hyundai MnSOFT will also participate in the Hyundai-WayRay collaboration to take the lead in development of innovative technologies.
According to industry officials, the size of the global holographic display market will be $3.6 billion in 2020, as the market has shown an annual growth rate of 30 percent over the past few years.