The annual Connect conference held by Meta, focused on virtual reality (VR) and the metaverse, raised a question that was on everyone’s lips: Apple. Mark Zuckerberg, the CEO of Meta, excitedly introduced his company’s Quest 3 VR headset, which is set to start shipping in October with a price tag of $499. The conference also highlighted the growth of Meta’s VR app store, Quest Store, which has generated a staggering $2 billion in sales since its launch in 2019. However, the real game-changer in the VR market is Apple’s upcoming entry with its Vision Pro mixed-reality headset, set to be released next year at a jaw-dropping price of $3,499.
The presence of Apple and its long-standing reputation for creating premium consumer devices has generated a buzz that Meta’s prior industry events lacked. Developers and VR companies at the conference expressed curiosity and excitement about Apple’s entry into the market. Tom Symonds, CEO of UK-based VR firm Immerse, mentioned that “Apple has always been able to marry the hardware and the software in a seamless way,” creating a sense of legitimacy for Meta’s efforts.
Before Apple’s Vision Pro announcement, the VR industry was experiencing an identity crisis. Venture capitalists had been retracting their investments while the popularity of Web3 and related crypto projects waned. At the same time, Meta was facing significant losses each quarter as it built its vision of a metaverse. However, the entry of Apple has given Meta renewed momentum and a sense of validation.
During the conference, Meta not only unveiled its Quest 3 headset but also showcased the latest version of its Ray-Ban smart glasses, developed in collaboration with EssilorLuxottica. These glasses, priced at $299, leverage Meta’s artificial intelligence software to provide users with features like landmark identification and sign translation through a smartphone. The advancements in Meta’s product lineup demonstrate the company’s commitment to pushing the VR market forward.
Apple’s strong foothold in the business realm, particularly with its iPad adoption for maintenance and related services, positions it favorably for courting enterprise customers. Josette Seitz, a mixed-reality developer at Baltu Technologies, noted that companies already using Apple products may find it easy to transition to the Vision Pro due to the devices’ interoperability. Although the Vision Pro’s high price point makes it more suitable for businesses, Seitz emphasized the importance of having multiple players in the VR market to prevent a monopoly system.
Developers from VR firm Coal Car Studios, such as Gaspar Ferreiro, expressed mixed opinions about Apple’s Vision Pro, calling its price “insane” and highlighting the risk Apple is taking. However, Ferreiro acknowledged that enterprises are likely to take the gamble due to Apple’s reputation and prestige. Meta, on the other hand, still faces challenges in mainstream adoption, despite having a head start in the VR industry. Ferreiro questioned whether the improvements of the Quest 3 over the Quest 2, which is $200 cheaper, will be enough to attract new customers beyond industry insiders and developers.
The Quest 3’s notable improvement is the “passthrough” feature, which digitizes a person’s field of vision, allowing computer-generated visuals to overlay the physical world. This feature significantly enhances the clarity and enjoyment of using VR, presenting developers with opportunities to create more compelling content that seamlessly integrates the physical and digital realms. Jeffrey Morin, CEO of Litesport VR fitness service, acknowledged that the Quest 3’s improved passthrough feature was crucial for their upcoming mixed-reality app with Xponential Fitness. Morin also expressed interest in future collaboration with Apple’s Vision Pro as its price becomes more affordable.
Although Apple’s Vision Pro is yet to be released, the VR community has already shown excitement and anticipation. Litesport’s Morin observed an increase in the number of users exploring their VR fitness apps following the announcement, highlighting the overall impact of Apple’s entry. The presence of a major player like Apple validates VR as more than just a side project for companies like Meta. It marks a significant shift in the VR landscape and presents an opportunity for collaboration, growth, and innovation.
With Meta’s Connect conference and Apple’s upcoming Vision Pro, the VR industry is undergoing a transformation. The entry of a heavyweight like Apple has injected new energy and confidence into VR developers and companies. While Meta continues to face challenges in achieving mainstream adoption, Apple’s presence and reputation have brought a sense of legitimacy to the industry. As the VR market grows, collaboration and healthy competition between companies like Meta and Apple will drive innovation, ensuring a diverse and vibrant VR ecosystem.
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