Market Overview

Google Prepares For A Virtual Reality Explosion

Google Prepares For A Virtual Reality Explosion

Virtual reality technology has received a lot of buzz over the past few years, as big name firms like Facebook Inc (NASDAQ: FB) and Microsoft Corporation (NASDAQ: MSFT) invested heavily into the technology.

While last year saw some major developments in the industry, many are expecting 2016 to be the big year for virtual reality. Google parent Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) released its own version of a virtual reality headset back in 2014 called Google Cardboard to unimpressed consumers, but the company has continued to promote the technology through brand partnerships, and this year, many are expecting the Internet-giant to compete with upcoming VR releases from rival firms.

Related Link: Virtual Reality In 2016

Renewed Effort

Google is ramping up its efforts to develop Google Cardboard this year in order to keep pace with growing interest among the public. The company recently created an entirely new division devoted solely to virtual reality technology and Google Cardboard in order to ensure the devices' success.

No Competition

With Facebook's Oculus due to release its highly anticipated Rift headset and Microsoft planning to unveil its Hololens later this year, many are wondering whether Google's Cardboard headset can compete. However, Google's low-cost model is in a league of its own, targeting a completely different pool of customers. At just $5 and able to operate with a user's existing smartphone, Google Cardboard is targeting the masses rather than the tech crowd.

The devices may not be as high tech as competing products, but at just a fraction of the price, Google is hoping to get people everywhere interested in using the technology. The company is likely to unveil a suite of apps that are available to both Apple and Android users that incorporate virtual reality technology. By getting people hooked on VR-compatible apps, Google stands to make a huge profit in advertising as many expect VR advertising to become a billion dollar industry in the coming years.

Image Credit: By Skydeas (Own work) [CC BY 3.0], via Wikimedia Commons

Posted-In: Android Apple Augmented RealityLong Ideas News Markets Tech Trading Ideas Best of Benzinga


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