Apple Could be Entering the Metaverse SpaceAccording to a report by Technavio, the market size of metaverse initiatives in entertainment is set to grow to reach $28.92 billion from 2021-2026
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Apple recently posted a set of job listings last week. The job listings hint that the tech giant is looking to explore metaverse as an avenue.
A lot of the listed jobs are related to augmented reality (AR) and virtual reality (VR) spectrum. The jobs listed are for AR/VR framework engineers as well as AR/VR audio engineers. The second-generation Apple Glasses are set to be released in 2023. The company is currently searching for engineers to develop its VR headset. According to various reports, the VR headset is set to have high-definition displays, the headset will be powered by the M2 Chip and would consist of a set of more than 10 cameras.
According to a report by Technavio, the market size of metaverse initiatives in entertainment is set to grow to reach $28.92 billion from 2021-2026. The report indicates the increase in consumer spending on virtual concerts and virtual events due to the advancements in technology especially the augmented reality and virtual reality space. Gaming has been indicated as the second key factor in the rise of the metaverse.
Apple was recently left out as Meta, Microsoft and other tech giants formed a group (Metaverse Standards Forum) to foster development in order to develop the industry standard of an emerging metaverse market. The association was formed to make the nascent digital worlds of these companies compatible.
