While VR is primarily used for gaming and entertainment right now, there’s great potential for the technology in several industries,
And professions such as engineering and design, healthcare, defense, and education.
Tech giants like Meta Platforms and Microsoft have recently made some aggressive moves to secure their position in the VR industry.
Let’s compare Meta and Microsoft to see who is leading the VR stock market.
Meta Platforms is the parent company of social media platforms Facebook and Instagram, but it is also the owner of the leading VR platform Oculus.
Meta devices now reportedly account for about two-thirds of all VR hardware used on the popular Steam gaming platform, demonstrating Oculus’ dominance in the space.
FB stock is down about 50% in the past six months, potentially providing an excellent buying opportunity for the leading VR stock.
The current VR stock of the company is US$196.21, a 3.71% decrease from the previous close.
While other hardware and software companies are focused on the consumer space, Microsoft has taken its VR technology directly to enterprise customers.
The company has its suite of industry-specific apps and more than 200 partner applications for the device.
In early 2022, it scrapped plans for a new version of the HoloLens. However, it’s still planning to keep working on VR technology and applications outside of gaming and entertainment.
The current VR stock of the company is US$264.58, a 3.69% decrease from the previous stock.
Indeed, Meta Platforms is likely to be viewed as the go-to way to play the VR theme, mostly because of the name change and the company’s new ambitions.
Still, Meta’s Oculus and its line of VR headsets don’t seem as ready for prime time just yet.
Without a smash hit on the software front, the transition into the metaverse may not be as smooth as it would be for the likes of Microsoft.
Microsoft’s Xbox is a leader in the gaming world. Undoubtedly, gaming is a red-hot growth market and one of the biggest lures into the metaverse for most casual consumers.