"I think it's huge because it lets developers start to learn how to build this kind of software," Robert Scoble, a partner at Transformation Group, told CNBC on the sidelines of the Singapore Week of Innovation and Technology.
Apple's ARKit technology is one of the features on the company's iOS 11 that will be released on Sept. 19. The new platform will take "apps beyond the screen" by letting users of the software create AR experiences for iPhones and iPads, according to the company. Google's ARCore is a similar software development platform for Android phones.
The reason why those platforms are needed, Scoble explained, is if smartglasses eventually become lighter and more widely adopted, there needs to be enough interesting software.
"We need developers to learn how to build that kind of software using sensor fusion, using the new 3D sensor, using the new kinds of ways to see the world ... We need them to build a lot of software so when the glasses world does arrive, there's lots of things to do," Scoble said.
The uses of augmented and virtual reality software aren't limited to just fun and games, either — Scoble pointed to computer-aided design as a segment that provided growth opportunities.
"People who are building cars or buildings are using Autodesk or AutoCAD ... and that's a huge market. That market is [worth,] I think, around $20 billion. If those people start needing augmented reality to see their models in new ways, that's going to be a huge change," he explained, pointing to how Shanghai Disneyland was designed using VR.