It seems that Microsoft will no longer be the only company developing an augmented reality space for its users, as Asus has been reported to be moving towards developing their own version of the Microsoft Hololens.

Asus, one of the world's biggest computer manufacturers, has announced their plans of launching its own 'Hololens'-like device by next year, says Venture Beat. The announcement was made by the company's Chief Executive, Jerry Shen, in a conference call with the company's investors.

This brings Asus into a tech innovation space that analysts predict will generate about $150 Billion in revenue by 2020. The Taiwanese company declined to make further comments aside from the fact that their augmented-reality projector "should" come out next year.

CNet reports that there is no assurance that the product is in no way connected with the Microsoft Hololens, which is set to launch early next year with a $3,000 (AU$4,258, £1,985) price tag. Back in October, Asus was negotiating with the American tech juggernaut for them to develop a cheaper version of the device, according to Asus chairman, Jonney Shih.

The Hololens has no official release date yet, says Business Insider, although the company is set to introduce its 'Developer Edition' model in the earlier parts of 2016. In the likelihood of a delay in the release to 2017, Asus could be the first in history to release an augmented reality device, which adds pressure on Microsoft to push for their first consumer-ready release.

The Hololens is nothing like the virtual reality products such as the gaming console competitor's, Playstation VR, which creates a whole new reality for users. The Hololens will be an augmented reality, images will be added into the existing landscape the user will be in. For instance, if a user projects a Minecraft display through the Hololens in the living room, it will most probably go on top of the coffee table.