Two of the biggest giants of the tech industry have joined hands to tap into the massive Metaverse opportunity. According to experts, this move has the potential to make their stocks higher!
Actually, this is not the first time that these 2 companies have been working together. These 2 companies have been working with each for several years now. The aim was to develop VR (virtual reality) applications, and after this recent step, their relationship has further strengthened.
In Berlin, a recent trade show was held where we got the announcement of a partnership between these two companies. According to the details, Qualcomm will make custom chips which will be used in making Quest devices of Meta.
The company Qualcomm plans to use its XR program (Snapdragon) to make the chips that have the ability to power futuristic VR headsets.
Currently, Qualcomm is already making chips for the Meta Quest 2 headset. But according to experts, this recent collaboration will help the company explore massive opportunities. In fact, the company may work with several other tech companies in the future for the metaverse and VR (virtual reality).
According to estimates, the global demand for virtual reality headsets will rise massively in the next few years. In 2022, the global shipments of VR headsets are expected to be around 13.9 million units. When compared with last year, this is an increase of almost 26%.
In 2026, it is expected that the numbers will reach 35 million units which are a lot more than 13.9 million!
Considering how the VR headsets will act as the gateway to virtual reality worlds such as the metaverse, it makes sense to think that tech companies like Qualcomm will benefit massively!
Right now, the leading market player in the VR and the metaverse is Meta - It is the same company which owns Facebook, Instagram, and other social networks. In fact, the company controls around 90% market share thanks to the Quest 2 VR headset.