Augmented reality (AR) aims to enhance our natural world through technology. The interactive experience uses computer-generated information to enrich what we perceive in the natural world.
The AR market is growing fast as more companies and people embrace this technology. According to data by Statista, the AR market will top $62 billion in 2029. That implies a 9% compound annual growth rate over the next few years.
Many companies are working toward capturing a slice of the AR market. Here's a look at some of the top augmented reality stocks.
List of stocks
Best augmented reality stocks
Several companies are working on augmented reality technology. Here's a list of some of the best augmented reality stock picks:
| Augmented Reality Stocks | Market Cap | Company Description |
|---|---|---|
| 1. Meta Platforms (NASDAQ:META) | $1.3 trillion | A global social media, metaverse, and AI company. |
| 2. Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) | $2.0 trillion | A leading internet search provider. |
| 3. Apple (NASDAQ:AAPL) | $3.3 trillion | A consumer electronics company. |
| 4. Microsoft (NASDAQ:MSFT) | $3 trillion | A leading technology company. |
| 5. Qualcom (NASDAQ:QCOM) | $180 billion | A developer of digital wireless telecommunications products. |
| 6. Nvidia (NASDAQ:NVDA) | $2.7 trillion | A developer of programmable graphics processor technologies. |
| 7. Unity Software (NYSE:U) | $6 billion | A video game development company. |
Here's a closer look at these top growth tech stocks focused on augmented reality.
1. Meta Platforms
1. Meta Platforms
Social media giant Meta Platforms has been investing heavily in building other technology platforms. The company's Reality Labs segment is building augmented reality, virtual reality, and artificial intelligence (AI) tools and services like Oculus and Spark AR.
Meta Platforms has partnered with Ray-Ban to develop smart glasses technology. The glasses can take photos and videos, make calls, and live stream. With Meta AI, it also can, for example, translate text in real-time or tell you the history of a building you are looking at.
2. Alphabet
2. Alphabet
Alphabet is the corporate umbrella company that holds the iconic Google search engine and YouTube online entertainment channel. The company also has several "other bets," including cybersecurity company Chronicle and autonomous driving technology venture Waymo.
Google is using AR in various ways. For example, Live View on Google Maps allows users to quickly orient themselves to the area around them and know which way to go via directions overlaid on the live screen of their surroundings. Meanwhile, Google Lens allows users to search what they see. They can scan and translate text, search for an item that caught their eye, or identify plants and animals. The company's AR technology is making it easier for people to discover the world around them.
3. Apple
3. Apple
Apple is a leader in developing technology with the goal of making life easier. It's increasingly using AR to enhance the physical world. Apple has the world's largest AR platform, with hundreds of millions of AR-enabled devices, as well as thousands of AR apps available on its Apps Store. Users can download AR-enabled apps such as Snapchat (SNAP 5.01%), IKEA Kreativ, iScape, and others that enhance the physical world through an iPhone or iPad.
In addition, the company is exploring many ways to use virtual reality (VR) with AR. Apple is developing wearable computing technology. The company launched its first AR/VR product, Apple Vision Pro, in early 2024. The spatial computing product blends digital content with your physical space.
4. Microsoft
4. Microsoft
Microsoft is investing in leading-edge technologies like cloud computing, AI, and AR/VR. The company launched its first mixed-reality product, HoloLens, that overlays digital images in the physical world. The updated HoloLens 2 is a holographic device designed to help businesses improve accuracy and output.
Microsoft is working on other aspects of AR, including AI, AR software, processing, lenses, and sensors to create even more immersive experiences for users. The company sees lots of business uses for this technology, including training, support, and customer service across a range of industries.
5. Qualcomm
5. Qualcomm
Qualcomm is working to build the foundational technology needed to make AR a reality. This technological base includes immersive 3D graphics, computer vision, machine learning, intuitive security, and 5G technologies. The company's Snapdragon XR Platform is an end-to-end computing solution that can power the AR world.
In addition to developing AR technology, Qualcomm is investing in innovative AR startups. Qualcomm launched its $100 million Snapdragon Metaverse Fund to invest in extended reality (XR) technologies.
6. Nvidia
6. Nvidia
Nvidia is also working on the technology needed to make VR a reality. For example, Nvidia CloudXR delivers VR and AR across 5G and Wi-Fi networks. It allows users to stream AR through devices without using wires.
Nvidia is also developing technology that incorporates AR into cars. The Nvidia Drive AR processor gathers information and displays it for a driver using AR. The system will show things such as driving stats, points of interest, alerts, and other information.
7. Unity Software
7. Unity Software
Unity Software makes a game engine to create video games. Developers can use its platform to create 2D, 3D, VR, and AR video games and other applications for smartphones, PCs, tablets, and other devices.
The company has created an integrated platform that allows developers to make immersive AR projects a reality. Unity's solution combines a leading software development platform with purpose-built tools empowering creators to bring their vision to life.
Related investing topics
These top augmented reality companies see a bright future in AR
Augmented reality is quickly becoming more mainstream as companies develop new uses for the technology, so AR-focused companies could be big winners in the coming years. That makes the space one that investors won't want to overlook.
