AR/VR Chip Global Market Report 2024

“AR/VR Chip Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on ar/vr chip market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for ar/vr chip? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The ar/vr chip market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Chip Type: Processor ICs; User Interface ICs; Power Management ICs
• 2) By Device Type: Head Mounted Display; Gesture Tracking Device; Projector and Display Wall; Head Up Display; Handheld Device
• 3) By End User: Gaming; Entertainment and Media; Aerospace and Defense; Healthcare; Other End Users
• Companies Mentioned: Nvidia Corporation; Imagination Technologies Limited; MediaTek Inc; Intel Corporation; Spectra7 Microsystems Inc
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

An AR/VR chip is a semiconductor device designed to facilitate user interactions within a digital environment while providing an immersive experience that integrates seamlessly with the real world. It enables real-time incorporation of digital information into the user's surroundings, allowing for enhanced manipulation and interaction between the physical and augmented environments.

The primary types of chips within an AR/VR chip include processor ICS, user interface ICS, and power management ICS. Processor ICs function as computer memory, microcontrollers, oscillators, timers, counters, logic gates, or processors. These integrated circuits typically consist of millions or billions of transistors, capacitors, logic gates, and other components arranged in a series to form advanced digital circuits. Processor ICs are crucial for achieving long battery life, high-accuracy sensing, and wireless connectivity. Various device types leverage AR/VR chips, including head-mounted displays, gesture tracking devices, projectors, and display walls, head-up displays, and handheld devices. These applications find use in diverse sectors such as gaming, entertainment and media, aerospace and defense, healthcare, and other end-user industries.

The AR/VR chip market research report is one of a series of new reports from The Business Research Company that provides AR/VR chip market statistics, including AR/VR chip industry global market size, regional shares, competitors with an AR/VR chip market share, detailed AR/VR chip market segments, market trends and opportunities, and any further data you may need to thrive in the AR/VR chip industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The ar/vr chip market size has grown exponentially in recent years. It will grow from $3. 27 billion in 2023 to $4. 02 billion in 2024 at a compound annual growth rate (CAGR) of 22. 7%. The expansion observed in the historical period can be attributed to several factors, including the widespread adoption of augmented reality (AR) and virtual reality (VR) applications, advancements in graphics processing unit (GPU) technologies, growth within the gaming and entertainment industries, increased adoption of AR/VR in healthcare and education, and a rising demand for high-performance computing in AR/VR devices.

The ar/vr chip market size is expected to see exponential growth in the next few years. It will grow to $8. 62 billion in 2028 at a compound annual growth rate (CAGR) of 21. 1%. The anticipated growth in the forecast period can be attributed to several key factors, including the expansion of augmented reality glasses and headsets, the integration of AR/VR in enterprise and industrial applications, the adoption of 5G technology to enhance AR/VR experiences, increased demand for compact and power-efficient AR/VR chips, and the overall growth in extended reality (XR) and mixed reality (MR) applications. Noteworthy trends expected during this period encompass the development of AI-powered AR/VR experiences, the utilization of edge computing for real-time AR/VR processing, the integration of AR/VR chips into smart glasses and wearables, a focus on haptic feedback and sensory integration in AR/VR devices.

The AR/VR chip market is expected to experience significant growth due to the widespread adoption of mobile devices. Mobile devices, which encompass portable gadgets like tablets and smartphones, have evolved to perform tasks previously exclusive to larger computers. Integration of AR/VR chips within smartphones enhances user experiences in virtual and augmented reality applications, providing interactive experiences. According to Samsung Electronics Co. Ltd. 's report, global smartphone sales surged from 1. 30 billion units in 2020 to 1. 36 billion units in 2021, emphasizing the driving force of mobile device adoption in fueling the growth of the AR/VR chip market.

The healthcare industry's increasing utilization of augmented reality (AR) technology is anticipated to propel the AR/VR chip market. AR applications in healthcare augment surgical procedures by overlaying computer-generated images onto the real world, elevating precision, personalization, and patient care. Immersive Touch's collaboration with Mayo Clinic, announced in March 2022, exemplifies this trend. Their innovative AR platform offers surgeons 3D holographic X-ray visions, empowering them in orthopedic surgeries. The surge in AR's adoption within healthcare indicates a promising trajectory for the growth of the AR/VR chip market.

Technological advancements represent a crucial trend influencing the AR/VR chip market's trajectory. Key players in the AR/VR sector are actively investing in technological advancements to maintain their market positions. A notable example is Qualcomm Technologies Inc. 's launch of the Snapdragon SpacesTM XR Developer Platform in November 2021. This head-worn AR developer kit integrates advanced machine perception technology, optimized for the next generation of AR glasses. Its capabilities include user sensing, interaction, environment adaptation, and positional as well as hand tracking. Such strides in technology signify the continuous evolution and growth potential within the AR/VR chip market.

Major players in the AR/VR chip market prioritize strategic partnerships and collaborations to introduce advanced AR technologies characterized by low power consumption and high-performance computing. Lower power consumption extends the usage duration of electronic devices, reducing the need for frequent recharging and contributing to their ecological sustainability. An illustrative instance of this strategic approach is the collaboration between Rokid Corporation Ltd., a US-based AI/AR tech and robotics software company, and Arm, a Chinese-based chip and service provider, announced in April 2022. The collaboration aims to develop comprehensive AR solutions leveraging IC design tailored for AI products. Rokid plans to create an all-inclusive customized solution using ARM China's core power XPU intelligent data-stream convergence computing platform, emphasizing optimized software and algorithms.

In September 2022, Meta Platforms Inc., a US-based technology conglomerate, forged a partnership with Qualcomm Technologies Inc. to develop specialized chipsets for their forthcoming extended reality (XR) platform versions. This collaboration signifies a concerted effort between Meta and Qualcomm to innovate within the AR/VR space, leveraging Qualcomm Technologies' expertise in semiconductors, mobile technology, wireless power, and augmented reality (AR) chips. The partnership aims to introduce enhanced chipsets tailored specifically for Meta's XR platform, signaling a strategic move towards advanced AR/VR technologies.

Major companies operating in the in the ar/vr chip market report are Nvidia Corporation, Imagination Technologies Limited, MediaTek Inc, Intel Corporation, Spectra7 Microsystems Inc, Advanced Microdevices Inc, International Business Machine Corporation, Samsung Electronics Co Ltd, Huawei Technologies Co. ltd., Broadcom Inc, Rockchip Electronics Co Ltd, Advanced RISC Machines Ltd, HiSilicon (Shanghai) Technologies CO. Ltd., Qualcomm Inc., Texas Instruments Incorporated, Xilinx Inc., Arm Limited, Cadence Design Systems Inc., Meta Platforms Inc., Apple Inc., Microsoft Corporation, QUALCOMM Incorporated, Adobe Inc., Hello Group Inc. ADR, Alphabet Inc., Magic Leap, Lytro, Eyefluence, Inpria, Interlude

Asia-Pacific was the largest region in the AR/VR chip market in 2023. North America was the second-largest region of the AR/VR chip market. The regions covered in the ar/vr chip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the ar/vr chip market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The AR/VR chip market consists of sales of AR system comprising displays, sensors, and embedded electronics and VR technology comprising gesture recognition systems, sensors, and embedded electronics. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.