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Facebook's parent company dominates the VR Mini Market | Technology

Facebook's parent company dominates the VR Mini Market | Technology
Facebook's parent company dominates the VR Mini Market 

Facebook parent stands high in VR Mini Market 

Facebook's flagship Metaplatform (FB) is betting its future on Metavers - and the best way to experience this is with the Quest virtual reality headset. But so far, virtual reality devices are a niche market, and some analysts believe augmented reality is reaching consumers.

Metaverse is the next-generation version of the internet, with 3D digital worlds replacing 2D static websites. Still, few people seem to want to connect a headset that blocks the real world. This raises the question: Will virtual reality go mainstream?

Probably not, says IDC analyst Jitesh Ubrani. Most major tech companies, including Apple (AAPL) and Microsoft (MSFT), have the potential to enter a larger market and have decided to focus on augmented reality headsets, he said. He saw a market for virtual reality headsets with millions of units and millions of augmented reality devices.

"Most big tech companies have at least tried VR," Oberani said. “But virtual reality doesn’t have the broader application of ultimate augmented reality. Currently virtual reality is mostly limited to consumer gaming, with fitness being the second largest use. And from a business perspective, it’s for rigorous training and soft skills."

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Meta controls Virtual Reality Headset

According to research firm IDC, sellers sold 10.95 million virtual reality headsets worldwide in 2021, with metadata accounting for 80 percent of their market share. In 2020, the cumulative shipment of VR headsets was 5.56 million units, of which Meter accounted for 62%.

IDC predicts that virtual reality shipments will reach 38.3 million units per year in 2026. Meanwhile, augmented reality headsets are expected to reach 12.2 million units by 2026.

"Augmented reality is a small market today, but it is expected to intensify abroad," Oberani said. "In augmented reality, it is widely used for consumer and commercial use. Unfortunately, the technology is not yet available."

Virtual reality headsets immerse the wearer in the entire digital world, while augmented reality headsets superimpose digital information into the human eye.   

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Apple is preparing for a Mixed Reality Headset

Apple is rumored to be working on a mixed reality headset that combines virtual and augmented reality technology into a high-end headset. The device is expected to launch in early 2023, Goldman Sachs analyst Rod Hall said in a recent client note.

“As VR platform technology has advanced, we realized that this area has not resonated with a broad user base so far,” Hall said. Nonetheless, the 2023 VR unit forecast of 19.4 million units is higher than IDC's forecast, given that we believe the platform can be viewed as an improved form of remote collaboration. I am optimistic

According to Hall, IDC predicts sales of VR headsets will reach 18.9 million units in 2023.

According to Oberani, sales of the Meta Quest 2 headset last year were mainly driven by the holiday quarter.

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The second-largest maker of VR headsets after Meta is Chinese DPVR and ByteDance, the parent company of social networking app TikTok. The top five include Taiwan HTC and China IQ (IQ).

With the launch of Sony's PlayStation VR2 headset in late 2022, metadata will face even tougher competition. PSVR2 links to the PlayStation 5 console for an enhanced gaming experience.

Meta on the back of the Virtual Reality Headset

However, Meta plans to release a new virtual reality headset later this year. The name of the device is Quest Pro.

At the same time, Quest is trying to expand the headset application beyond the metagame. She promotes her Horizontal Worlds social networking app on the Metaverse. There is also an enterprise version called Horizontal Workspace.

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Realizing that not everyone wants to put on a virtual reality headset to experience Metavers, Meta is developing a traditional web version of the horizontal world. Competitors' digital worlds such as Epic Games, RoboLux (RBLX) and Sandbox can be accessed from your PC or mobile device.

"The biggest mistake these companies can make is making VR headsets a necessity for the Metaverse experience," Oberani said.

Source: Patrick Seitz, Investor's Business Daily, Direct News 99