Tech Companies Bet on AR Eyewear
A New Way to Interact With Technology
Facebook (FB), Apple (AAPL), and Niantic are bolstering their augmented reality efforts by incorporating new technology into computerized glasses.
Augmented reality is already being used across a variety of industries from mobile gaming to internet shopping, but now tech companies want to get AR directly in front of consumers’ eyes. The idea is to create eyewear which will enable people to get directions, read text messages, browse movie reviews, and more. Unlike in a virtual reality setup, users will be able to interact with the internet and the real world simultaneously.
Tech Companies Compete for AR Market Share
Facebook has been working on AR glasses for some time and is testing them in conjunction with wristbands which can detect finger movements. The social media giant is focused on developing software and hardware which will compliment its AR glasses.
Meanwhile Niantic, the company behind the game, Pokémon Go, is developing its own AR glasses via a partnership with mobile chip maker Qualcomm (QCOM). Apple is developing an AR headset which could launch in 2022, and AR glasses are expected to follow shortly after that release. Other tech companies working to capture the AR glasses market include Snap Inc. (SNAP) and Google (GOOGL).
The Road to Mass Adoption of AR Glasses
The early iterations of these AR glasses are expected to have limits in terms of the embedded technology, design, and use cases. There are already some AR headsets and glasses on the market, but they are geared toward businesses and tend to be pricey. For example, Microsoft (MSFT) inked a $21.9 billion deal last week to develop custom versions of its HoloLens headsets for the US Army.
AR glasses which will be comfortable and convenient to wear in daily life will likely not be available for at least a year. However, some analysts believe that once this technology is ready for mass adoption, it could revolutionize the way people interact with the internet.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.