CES 2016 wrapped up in early January, and expectedly on display were a large number of Augmented and Virtual Reality devices. Even outside of CES, there were a number of early year announcements and updates for products intended to release throughout the year. 2016 is the year for Virtual Reality to really shine, with the release of three major VR devices: the Oculus Rift, HTC Vive, and Sony’s PSVR. Augmented reality devices—mostly smartglasses currently—are expanding in terms of addressable market and usefulness, with some consumer-level products emerging as early entries into the consumer AR space. This report breaks down some of the most impactful news, product updates, and future outlooks for the AR and VR markets, as well as some rumors surrounding major player involvement in the space.