Some people think XR is slowing down after Meta cut back. I see the opposite. Across hardware, software, and cameras, momentum is clearly building: - Samsung: next-gen AR glasses coming in 2026 with cameras + AI - Google: Android XR ecosystem + prototype smart glasses - Apple: pushing immersive capture and spatial video through Vision Pro - DJI: after dominating drones, now entering 360 with a strong first release (Osmo 360) - GoPro: MAX2, a big step up from the first MAX, with true 8K and a pro post-production pipeline - Insta360 X5: a very mature and popular all-round 360 camera after many iterations - Pico (ByteDance): VR headsets with better MR tracking and dev tooling Many of the companies shaping the next phase were here before and are returning with far more mature tech: - Samsung is back in immersive tech after being one of the first consumer 360 pioneers - Google is back after Cardboard, now with a full XR platform, not just a viewer - Apple is entering immersive content from a different angle, using spatial video as a gateway to 360 and volumetric experiences - GoPro is releasing its second 360 camera after six years making it a strong competitor in the space - DJI is entering the 360 market with a strong first release - Kandao powers high-end VR, 360 and VFX workflows in professional Hollywood productions - Insta360 pushed this market for years and is now finally getting real competition Still, Meta remains the biggest investor in XR and while they may be realigning, VR and XR are still on an upward trend. New tech, more users, and more applications.