元宇宙时代：投资于交付、基础架构和内容(英)-汇丰-2021.12-74页.pdf.pdf

                    Disruptive Technology ● Equities
December 2021

VR is in the “real
applications” phase of our
framework but room for
improvement

In short, we believe that virtual and augmented reality technology could become the next mass
computing platform, like the PC and smartphone before it – but it may take time. We believe VR
is in the “real applications” phase of our disruptive framework.

Cost of of VR headset ownership is falling
(USD)
1,800
1,600

VR device shipment forecasts

Oculus Rift (PC based)

1,400

1,200
1,000
800

Quest 2 - wireless

600
400

200

Quest 1 - wireless

0
2014

2016

2017

2019

2020

Source: HSBC, Meta Platforms

Source: IDC, HSBC Qianhai Securities

There are headsets available to purchase today that can deliver immersive experiences at a
relatively low cost (the average price of a smartphone in the US is USD560 2) and ski goggletype form factor, for both consumers and enterprises. As the display technologies and systemon-chip processing technologies improve, VR headsets will become lighter and smaller.
AR technology improvement
needs to take a leap forward

However, the outlook for AR is somewhat different. Due to the technology form factor available
today, such as Microsoft’s HoloLens, we believe it’s mostly for the enterprise market, and we
place AR in the “backlash” window for now. But companies including Snap and Meta are
developing AR glasses and this could foster better technologies in the future.

Approx imate energy consumption
per transaction (J)

Centralised blockchains consume more energy
108
106
104
102
100
10-2

Simple
serv er

Centralised
sy stem

Source: The Energy Consumption of Blockchain, Catchword, May 2020

______________________________________
2 Statistica 2020

8

Enterprise
Blockchain

Public Blockchain
Non-PoW

Public Blockchain
PoW