The AR/VR Chip Global Market Report 2023 by The Business Research Company, provides AR/VR chip market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s AR/VR Chip Global Market Report 2023, the market size will grow from $2.79 billion in 2022 to $3.6 billion in 2023 at a compound annual growth rate (CAGR) of 28.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the AR/VR chip is expected to grow to $9.54 billion in 2027 at a CAGR of 27.6%.
High adoption of mobile devices is expected to propel the growth of the AR/VR chip market going forward. The mobile device refers to a portable tablet or another gadget that is small and light enough to be carried around. It can now perform practically all tasks that were previously only possible with bigger personal computers due to the advancements in data storage, computing, and display technology. AR/VR chips embedded in smartphones enable very realistic virtual and augmented reality game experiences where the user interacts with his or her surroundings using their own hands.
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The AR/VR chip market is segmented:
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
Top Major players:
Nvidia Corporation
Imagination Technologies Limited
MediaTek Inc
Intel Corporation
Spectra7 Microsystems Inc
Asia-Pacific was the largest region in the AR/VR chip market in 2022.
Technological advancement is a key trend gaining popularity in the AR/VR chip market. Major companies operating in the AR/VR sector are focused on technological advancement to sustain their position in the market. For instance, in November 2021, Qualcomm Technologies Inc., a US-based company engaged in the manufacturing and development of semiconductors, mobile, networking, Wi-Fi, small cells, wireless power, and augmented reality, launched the Snapdragon SpacesTM XR Developer Platform, a head-worn Augmented Reality (AR) developer kit with proven technology. It is a powerful machine perception technology that is designed for the next generation of AR glasses and optimised for performance and low power. It can sense the user, intelligently interact with them, adapt to their physical indoor environments, and provide positional tracking and hand tracking.
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The AR/VR chip market report table of contents includes:
1. Executive Summary
2. AR/VR Chip Market Characteristics
3. AR/VR Chip Market Trends And Strategies
4. AR/VR Chip Market – Macro Economic Scenario
5. AR/VR Chip Market Size And Growth
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26. Africa AR/VR Chip Market
27. AR/VR Chip Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The AR/VR Chip Market
29. AR/VR Chip Market Future Outlook and Potential Analysis
30. Appendix
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