Introduction to Augmented Reality
Augmented reality (AR) goals to boost our natural world through technology. The interactive experience uses computer-generated information to complement what we perceive within the natural world. The AR market is growing fast as more corporations and folks embrace this technology. According to data by Statista, the AR market will top $62 billion in 2029. That implies a 9% compound annual growth rate over the following few years.
Top Augmented Reality Stocks
Many corporations are working toward capturing a slice of the AR market. Here’s a take a look at a number of the top augmented reality stocks. Several corporations are working on augmented reality technology. Here’s an inventory of a few of the perfect augmented reality stock picks:
1. Meta Platforms
Social media giant Meta Platforms has been investing heavily in constructing other technology platforms. The company’s Reality Labs segment is constructing augmented reality, virtual reality (VR), and artificial intelligence (AI) tools and services like Oculus and Spark AR. Meta Platforms has partnered with Ray-Ban to develop smart glasses technology. The glasses can take photos and videos, make calls, and live stream. With Meta AI, it can also, for instance, translate text in real-time or let you know the history of a constructing you’re looking at. The company sees an enormous opportunity for AR glasses powered by AI.
2. Alphabet
Alphabet is the company umbrella company that holds the enduring Google search engine and YouTube online entertainment channel. The company also has several "other bets," including cybersecurity company Chronicle and autonomous driving technology enterprise Waymo. Google is using AR in various ways. For example, Live View on Google Maps allows users to quickly orient themselves to the realm around them and know which technique to go via directions overlaid on the live screen of their surroundings. Meanwhile, Google Lens allows users to look what they see. They can scan and translate text, seek for an item that caught their eye, or discover plants and animals.
3. Apple
Apple is a pacesetter in developing technology with the goal of constructing life easier. It’s increasingly using AR to boost the physical world. Apple has the world’s largest AR platform, with tons of of thousands and thousands of AR-enabled devices, in addition to hundreds of AR apps available on its Apps Store. Users can download AR-enabled apps corresponding to Snapchat, IKEA Kreativ, iScape, and others that enhance the physical world through an iPhone or iPad. In addition, the corporate is exploring some ways to make use of virtual reality with AR.
4. Microsoft
Microsoft is investing in leading-edge technologies like cloud computing, AI, and AR/VR. The company launched its first mixed-reality product, HoloLens, which overlays digital images within the physical world. The updated HoloLens 2 is a holographic device designed to assist businesses improve accuracy and output. However, it has since discontinued those products. Microsoft is working on other points of AR, including AI, AR software, processing, lenses, and sensors to create much more immersive experiences for users.
5. Qualcomm
Qualcomm is working to construct the foundational technology needed to make AR a reality. This technological base includes immersive 3D graphics, computer vision, machine learning, intuitive security, and 5G technologies. The company’s Snapdragon XR Platform is an end-to-end computing solution that may power the AR world. In addition to developing AR technology, Qualcomm is investing in modern AR startups. Qualcomm launched its $100 million Snapdragon Metaverse Fund to take a position in prolonged reality (XR) technologies.
6. Nvidia
Nvidia can be working on the technology needed to make VR a reality. For example, Nvidia CloudXR delivers VR and AR across 5G and Wi-Fi networks. It allows users to stream AR through devices without using wires. Nvidia can be developing technology that comes with AR into cars. The Nvidia Drive AR processor gathers information and displays it for a driver using AR. The system will show driving stats, points of interest, alerts, and other information.
7. Unity Software
Unity Software makes a game engine to create video games. Developers can use its platform to create 2D, 3D, VR, and AR video games and other applications for smartphones, PCs, tablets, and other devices. The company has created an integrated platform that enables developers to make immersive AR projects a reality. Unity’s solution combines a number one software development platform with purpose-built tools that allow creators to bring their vision to life.
Conclusion
Augmented reality is quickly becoming more mainstream as corporations develop latest uses for the technology, so AR-focused corporations may very well be big winners in the approaching years. Investors won’t need to overlook the space. As the AR market continues to grow, it’s essential to keep watch over the highest augmented reality stocks and their modern developments in the sphere. With the potential for significant growth and advancements in technology, the long run of AR looks promising.
