Press release
AR/VR Chip Market Analysis, Trends, Growth, Research And Forecast 2032
AR/VR Chip Market
The Business Research Company's AR/VR Chip Global Market Report 2023 identifies high adoption of mobile devices as the major driver for the AR/VR chip market's growth in the forecast period. 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.
The global AR/VR chip market size grew 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 AR/VR chip market size is expected to grow to $9.54 billion in 2027 at a CAGR of 27.6%.
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Major competitors in the AR/VR chip market 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., International Business Machines Corp.
A key trend in the AR/VR chip market includes technological advancement. 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 is segmented -
• By Chip Type: Processor ICs, User Interface ICs, Power Management ICs
• By Device Type: Head Mounted Display, Gesture Tracking Device, Projector and Display Wall, Head Up Display, Handheld Device
• By End User: Gaming, Entertainment and Media, Aerospace and Defense, Healthcare, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the AR/VR chip market.
The Business Research Company's "Global AR/VR Chip Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The AR/VR Chip Market Include:
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
……
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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