Virtual reality has been around since the 1990s, but it's only recently started to deliver on the promises made 30 years ago. While VR is primarily used for gaming and entertainment right now, there's great potential for the technology in several industries and professions such as engineering and design, healthcare, defense, and education. The global VR market is expected to grow 19% annually, reaching US$26.8 billion by 2027 from US$7.7 billion in 2020, according to market research firm Valuates Reports. In this article, you can get a comparative analysis of top VR companies Alphabet and Apple, and can choose the best VR stock for investment.
YouTube and Google parent company Alphabet's first attempt at a wearable augmented-reality, or AR, device was Google Glass, which was originally released back in 2013. The glass was somewhat underwhelming, but the company is reportedly developing a new AR headset with an eye on a potential 2024 launch date. In recent years, Google has also invested heavily in its visual search engine Lens and added AR features to Google Maps. In 2021, Google unveiled its Project Starline, a next-generation 3D video chat booth that reportedly uses a dozen depth sensors and light field technology to make video chat partners appear in 3D. Its current VR stock is US$2,134.31, a 0.30% rise from the previous close.
For years, there have been reports that iPhone maker Apple is developing an AR or VR headset. Apple was reportedly hoping to begin shipping that device in 2022, but recent reports suggest that the launch date may be pushed back to at least 2023 after reports of problems with overheating, cameras and software. The price point for the device is expected to be more than US$2,000, and it will reportedly have two processors. Apple has a long track record of disrupting existing markets with its high-quality devices, and it already has a massive base of more than 1 billion active iPhones. Its current VR stock is US$132.76, a 0.67% rise from the previous close.
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