New AR/VR product launches show the metaverse is not just hype

Recent product announcements highlight how the market for augmented and virtual reality (AR/VR) services is quickly maturing. Qualcomm has unveiled Snapdragon Spaces, a developer kit for creating AR applications. Nvidia has unveiled two new core capabilities of its Omniverse virtual collaboration platform. And Microsoft and HP have launched a new offering to solve printing issues in virtual reality.

The metaverse might be another buzzword for virtual and augmented reality, but there is real momentum behind applications seeking to incorporate AR/VR with social media and the cloud. A shift to AR/VR as a central platform for mobile and communications services would have far-reaching implications, as Facebook’s recent new strategy and rebranding to Meta suggests. Meanwhile, mobile ecosystem players are making major investments in headsets and mixed-reality applications. We could be witnessing the start of a shift to a new platform for enterprise and consumer services.

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