[ Back ]   [ More News ]   [ Home ]
Tech Industry Research Suggest Bright Future for Augmented and Virtual Reality Markets

NEW YORK, June 2, 2016 — (PRNewswire) —

New disruptive technology is often a crucial driver of our economy. A new gadget can change an industry, or create a whole new market. According to industry research reports, the virtual and augmented reality is the future, and the market is seeing strong interest by the largest technology companies. Vuzix (NASDAQ: VUZI), Alphabet Inc. (NASDAQ: GOOG), Facebook Inc. (NASDAQ: FB), Microsoft Corporation (NASDAQ: MSFT), Intel Corporation (NASDAQ: INTC)

To understand why analysts are so excited about the potential growth of this market, A Goldman Sachs report explained that there are, "nine areas in which virtual and augmented reality can be used, ranging from video games to retail. While video games make up the largest portion, everything from health care to real estate could experience disruption." The Analyst continues to stand strong behind the fact that in 2016 we will see the most significant progress on VR/AR ever.

A report by CCS Insight shows that Augmented and Virtual Reality devices will soon become a $4 billion-plus business in 3 Years and that more than 24 million devices will be sold in 2018. 

There are some problems however that this market will have to overcome. VR and AR should not be compared to smartphones and tablets, which went through an extremely fast adoption rate. VR and AR devices are expensive and can't be used with the same comfort as smartphones and tablets. VR and AR devices are used at home or work, and the true value of the technology is revealing itself overtime. Meaning as prices from manufacturing costs shrink, the volume surges alongside the increasing popularity. 

The industry learned a lot from the disappointment of Alphabet Inc. (NASDAQ: GOOG) Glass, which despite its futuristic ambitions was an expensive and not a very useful gadget. Since then Google has moved to focusing on software, providing cardboard VR headsets which can be used with smartphones. Some tech companies took it upon themselves to create a counter product, to prove that the concept of smart wearable glasses can actually be efficient. Vuzix Corp. (NASDAQ: VUZI) for example sells Virtual and Augmented Reality products in the consumer, industrial, commercial, academic and medical markets. This small but growing company won 20 Consumer Electronics Show Innovations awards, including four for CES 2015.

Vuzix in early 2015 received a $24.8Million Investment directly from Intel Corporation (NASDAQ: INTC). The company describes one of its most popular products, the M100 Smart Glasses as devices which provide, "professional video eyewear that runs Android in the glasses." These devices are currently focused on the enterprise business markets and are being used by numerous Fortune 500 companies in diverse areas including warehousing and logistics, field service, remote maintenance, retail and medicine. For the entertainment seekers, Vuzix has the iWear Video Headphones, a VR headset, which designed to provide the user with immersive HD video and gaming experience for $499.99.

In the same token for gaming, expectations from Facebook Inc. (NASDAQ: FB) Oculus Rift VR headset are also very high. The device started deliveries two months ago, and despite delays due to, "unexpected component shortage" the headset is forecasted to be a hit, with shipments of over 2 million units this year, according to International Data Corporation. There has been a decent amount of content available online to be used with the headset. The Oculus Rift costs $599.

Microsoft Corp. (NASDAQ: MSFT) went for a different direction. The HoloLens is the most expensive headset of the bunch, $3000 a unit, and is more AR then VR. Microsoft describes the headset as a "holographic computer, enabling you to interact with high definition holograms in your world." The purpose of such an expensive headset more entrepreneurial and industrial. For example, Microsoft is exploring opportunities to transform the architecture process with the HoloLens. The augmented reality will enable get a sense of scale, form, and space to easily visualize ideas and make decisions based on visuals.

For "The Latest Buzz in Financial News", Please Visit: http://www.FinancialBuzz.com

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content.

FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site for advertising such companies. Financialbuzz.com was not compensated for financial news pr servicesy. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. We do not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security.  FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print.  Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com


Media Contact:
Danny A.
Email Contact
+1-877-601-1879

SOURCE FinancialBuzz.com.

Contact:
FinancialBuzz.com.