Virtual reality (VR) has been around since the 1990s, but it is only now that it is beginning to live up to the promises made 30 years ago. While VR is now utilized mostly for gaming and entertainment, the technology has enormous potential in a variety of businesses and professions like as engineering and design, healthcare, defense, and education.
Furthermore, VR is only now gaining traction among consumers and businesses. Analysts predict that the industry will expand significantly during the next decade. Various research organizations predict a compound annual growth rate ranging from 18% to 44% between 2021 and 2028. Here’s the best digital assets and stocks to consider if you want to start investing in VR.
Meta Platforms Inc.
In 2014, Meta Platforms Inc, then known as Facebook, purchased the premier VR technology startup Oculus. It has since assisted the company in the development and marketing of virtual reality devices and software. In 2017, CEO Mark Zuckerberg stated that he hoped to reach 1 billion people with virtual reality.
The Oculus Quest 2, the latest edition of its main product, has garnered very favorable reviews and makes getting into VR even more cheap with a lower price point than its predecessor. Meta platforms are a solid choice for investors interested in the trend because it is the leader in VR technology and has a CEO who is really passionate about its possibilities.
Sony created its own virtual reality headset, PlayStation VR, that is compatible with its popular PlayStation systems. Sony is a leader in the gaming industry since it gives us one of the best VR gaming experiences by using the PlayStation 4 (or PS5) to power the headgear. The company is really making waves in gaming communities with user reviews skyrocketing.
Since its release in 2016, the PSVR has been one of the best-selling VR headsets. Right now, Sony is leading the market as one of the best distributors of virtual reality games and standard video games. It would be a wise choice to invest in their virtual reality stocks.
For years, Google has been developing VR gear and software. Since the release of the Google Glass in 2013, the company’s objectives have been clear: to put the internet directly in front of your eyes.
Google is much more likely to be a big participant in the software side of VR. If Android is the default operating system for the majority of smartphone manufacturers, it is possible that it will also be the default operating system for VR device manufacturers. Meanwhile, Google will create its own apps for current platforms such as Oculus in order to broaden the adoption of VR and maintain its presence across all internet-enabled devices to remain present in this new consumer market.
One of the biggest tech companies in the world, and for good reason. Microsoft has brought its virtual reality technology directly to the enterprise market. Its product, the HoloLens is being marketed to manufacturers, healthcare providers, and educators. For the gadget, the company provides its own suite of industry-specific apps as well as over 200 partner applications.
Another tech giant in the consumer market. According to patent papers, Apple Inc. has been working on virtual reality gear for more than a decade.
Over the years, it has also purchased a number of VR and AR (Augmented reality) firms. Despite this, the company has yet to produce a standalone virtual reality product for its ardent fanbase.
That could alter in the not-too-distant future. Apple Inc. is anticipated to deliver a headset within the next year, but it’s price target could be as much as $3,000. When Apple enters a market, it’s a good sign that the product will become popular among consumers. Even when it is not the first to launch, Apple usually does a decent job of gaining significant market share.
Companies that supply critical technology to hardware manufacturers are just as crucial as those that produce and sell final products. Nvidia is the world’s leading designer of graphics processing units (GPUs) for PCs and game consoles.
These GPUs will definitely be needed for virtual reality gear. The company is the leader in the graphics enterprise market needs to bring their A-game when it comes to this new ever-growing video game platform. So when their profits rise, it’s good to have invested before the takeoff.
A Lucrative Digital Environment
Since VR is still finding its feet, stock prices are still quite reasonable. Business models for technology companies and gaming companies are all focused on the immersive experience right now. The virtual reality industry is growing and it’s slowly finding its way into our daily lives, but what’s being done toward this future development?
Virtual reality companies and virtual reality startups are hard at work, hiring professional designers and partnering with elite software companies to reach one goal. Create a virtual environment that makes the 3D experience as immersive as possible in real-time. This means a lot of money is going into this, and with its popularity, a lot of money can be made from this.
So, what are you waiting for? Now’s the perfect time to invest in virtual reality.
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