Apple and Meta lead in developing metaverse technology, according to Goldman

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You may have come across words like the metaverse, NFTs, virtual currency, AR, VR, and more very often. Today, we are witnessing the world shifting and accepting a virtual presence. Although the developments in these areas are still slow and we are just beginning but Goldman Sachs says that Meta and Apple may lead in the development of technology for the metaverse.

According to a report released by the American Investment Banking firm, Goldman Sachs, the metaverse is based on a transition into new “immersive hardware interface platforms.” The metaverse can be described as a combination of augmented reality, virtual reality and the internet, and the company feels that the development of AR will be much slower than VR because usable products for VR are readily available which is not the case for AR. The company also expects more development of hardware in VR in the near term for VR.

“As Apple continues to research to scale up its work in this area, Meta aims to build a user base through competitive hardware prices and engaging experiences.”

Although you can see advancements in VR technology, overall it has failed to resonate with a broad user base. The report also says that VR platforms will be evolving quickly in 2023 but their sales will depend on the amount of utility that they will provide to their consumers. It is also likely to become an important part of remote working if it solves issues like comfort.

It still remains a question whether the metaverse will continue to grow or not. Goldman Sachs believes that the companies Apple and Meta are going to be in the main race for VR. The bank’s report said, “As Apple continues to research to scale up its work in this area, Meta aims to build a user base through competitive hardware prices and engaging experiences.” Apple is looking for an extension to its thriving metaverse and Meta seems to be building a base through pricing and creating engaging experiences.

Apple will be coming up with its own product in early 2023 and Meta is expected to launch Quest Pro in this year’s fall

Apple will be mostly coming up with its own product in early 2023 and Meta is expected to launch Quest Pro in this year’s fall. Although VR has certainly disappointed users up until now, it seems to be getting better. The report finally added about AR, that it is likely to remain confined to costly industrial-focused applications in the coming future.

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Featured Image Credits: Indian Express

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