Goldman Sachs expects Apple to launch Metaverse product in early 2023

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Goldman Sachs analysts say virtual reality platforms will grow rapidly by 2023.

Banks are more active about VR compare to AR because VR products are already usable at the moment and they hope the hardware will develop in the near future.

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The report said "main race" VR is between Apple , and Meta (FB). Apple may be trying to expand its ecosystem and Meta is looking to build a user base through “Attractive hardware prices and compelling experiences”.

VR platform technology is getting better and better but so far “did not resonate with many users,” Goldman said.

VR platforms are set to grow rapidly in 2023, and sales of these products will depend on the amount of convenience consumers gain from using them, the note added that VR can become a part indispensable of working remotely if some problems are resolved.

Bank expects Meta Platforms to launch product Quest Pro this fall and Apple will launch its own product in early 2023.

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