Market Overview

Google Has Potential In VR Market

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Google Has Potential In VR Market

Facebook Inc (NASDAQ: FB) has been hailed as the tech firm with the most potential in the virtual reality space. The company's acquisition of VR firm Oculus gave it a leg up against competitors and helped the firm bring one of the most promising consumer virtual reality headsets to the market this year.

However, Google parent Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) is planning to step up its VR efforts by introducing its own VR technology this year.

Cardboard

Google initially released Cardboard, a cheap version of virtual reality that made the technology accessible to just about anyone with a smartphone. The device, although simple, gave Google a chance to create strategic partnerships with brands looking to use Cardboard to improve their services. However, its lack of functionality kept it from ever competing with the likes of the Oculus.

Related Link: Did Apple Just Hire A Virtual Reality Expert?

New Technology

Now, Google is looking to flex its muscles by releasing an improved VR set that will surpass Cardboard in both design and functionality. Like Cardboard, Google's new offering will work with existing Android smartphones, but little is known beyond that. Google's Chief Executive Sundar Pichai has said that the firm will reveal more of its VR plans in the coming year.

Size A Benefit

The fact that Google is able to embed dedicated VR software into its Android smartphone operating system bodes well for the company's success in the VR space. The number of android users around the world is massive, meaning that there is already a huge pool of potential customers for its new headset. Not only that, but once Google has established its VR technology, the firm will have the upper hand when it comes to advertising sales with such a far-reaching user base.

Image Credit: By othree (Google Cardboard) [CC BY 2.0], via Wikimedia Commons

Posted-In: Augmented Reality Cardboard OculusNews Markets Tech Trading Ideas General Best of Benzinga

 

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