Digital Transformation Slows Down the Global Economy
Meta to Launch VR Headset in 2024
By Aarti Dhapte , 09 March, 2023
Meta is currently investing much money in the virtual reality in comparison to other companies in the world. Mark Zuckerberg is already trying to pursue his vision of revolutionizing the world of entertainment industry and work with the Metaverse. According to the data, in 2022 more than $25 billion got into Meta’s research and development department.
The reports reveal that Meta has generated an amount of $5.2 billion dollars with the hardware with an impressive market share of 75 percent. The market dominance of Oculus Quest 2 has been reflected through Californian company’s investments. Sony PlayStation is the closest competitor on the basis of sales, and 6.6 million headsets have also been sold worldwide. In contrast to Oculus Quest, VR goggles are supposed to console gaming and can be used less flexibility. This is one of the main reasons for Sony’s headset’s market share of five percent only.
Apple is launching another competing product in 2023. The product, Reality Pro is anticipated to be mixed reality glasses. Thus, Apple’s Reality Pro is thought to show a mix reality between virtual and augmented reality. After Apple Watch in 2015, this headset is Apple’s first venture into a new product category. But the price $3,000 indicates that Reality Pro is not for the average consumer for now.
Thus, as per the reports says, Meta plans to launch a VR headset named “Ventura” in 2024. It also intends to sell it “at the most attractive price point in the VR market.” It also plans to launch in 2025 the third-generation Ray-Ban storiesVR Gaming Revenue Growth
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Aarti Dhapte
Team Lead - Research
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