Mobile Devices Powering The Future Of AR/VR Chip Market: Powering Innovation and Expansion in the Global AR/VR Chip Market by 2025

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What Is the Expected CAGR for the AR/VR Chip Market Through 2025?
There has been a swift expansion in the ar/vr chip market size in the recent past. It is projected to escalate from $3.96 billion in 2024 to $4.74 billion in 2025, indicating a compound annual growth rate (CAGR) of 19.7%. Factors contributing to this growth during the historic period include the surge in augmented reality (AR) and virtual reality (VR) applications, advancements in graphics processing unit (GPU) technologies, expansion in the gaming and entertainment sectors, increased integration of AR/VR in healthcare and education sectors, and a growing demand for high-performance computing in AR/VR devices.

What's the Projected Size of the Global AR/VR Chip Market by 2029?
In the coming years, the market size of AR/VR chips is predicted to experience significant growth, expanding to $9.59 billion by 2029 with a compound annual growth rate (CAGR) of 19.3%. This growth during the forecast period is expected to be driven by various factors such as the proliferation of augmented reality glasses and headsets, utilization of AR/VR in industrial and enterprise applications, adoption of 5G technology to improve AR/VR experiences, an upsurge in demand for power-efficient and compact AR/VR chips, and the expansion in extended reality (XR) and mixed reality (MR) applications. The forecast period is also anticipated to see major trends such as the creation of AI-powered AR/VR experiences, the application of edge computing for instantaneous AR/VR processing, the integration of AR/VR chips into smart glasses and wearable devices, high focus on sensory feedback and haptic, and inclusion in AR/VR devices.

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Top Growth Drivers in the AR/VR Chip Industry: What's Accelerating the Market?
The rise in mobile device usage is projected to fuel the expansion of the AR/VR chip market. The term mobile device refers to a lightweight, portable tablet or similar device that is easy to carry around. Thanks to advancements in data storage, computing, and display technology, these devices can now handle most tasks that were once only achievable with larger personal computers. AR/VR chips integrated into smartphones allow for highly immersive virtual and augmented reality gaming experiences where the user can engage with their surroundings using their own hands. To illustrate, a study by G2.Com Inc, an American software company, showed that as of January 2024, 86% of the world's population used smartphones in 2023, contributing to 59% of 2022's web traffic, with 90% of mobile time spent on apps in the previous year. In the US alone, smartphone use accounted for 70% of digital media consumption, although 17% of less-affluent and older Americans continued to use basic phones. Hence, the surge in mobile device usage is contributing to the growth of the AR/VR chip market.

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What Trends Will Shape the AR/VR Chip Market Through 2029 and Beyond?
The emergence of technological advancements is becoming a pivotal trend in the AR/VR chip industry. Major corporations in the AR/VR arena are concentrating on these advancements in technology to maintain their market standing. For example, Qualcomm Technologies Inc., an American semiconductor firm, launched their latest XR and AR platform chips, the Snapdragon XR2 Gen 2 and the AR1 Gen 1, in September 2023. Specifically designed for VR and mixed-reality devices, and smart glasses respectively, these chips deliver a 2.5x GPU performance boost and 8x AI improvement. They enable immersive mixed and virtual reality experiences, with the Snapdragon AR1 Gen 1 Platform powering sleek smart glasses equipped with real-time AI capabilities such as visual search and hands-free live streaming. Developed hand in hand with Meta, these innovations, which will hit the market in 2023, will transform XR and AR devices by offering more powerful, lightweight, and user-centric solutions.

What Are the Main Segments in the AR/VR Chip Market?
The ar/vr chipmarket covered in this report 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

Subsegments:
1) By Processor ICs: Graphics Processing Units (GPUs), Application Processors, Digital Signal Processors (DSPs)
2) By User Interface ICs: Touchscreen Controllers, Gesture Recognition ICs, Audio Or Video Interface ICs
3) By Power Management ICs: Voltage Regulators, Battery Management ICs, Power Distribution ICs

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Which Top Companies are Driving Growth in the AR/VR Chip Market?
Major companies operating in the AR/VR chip market include 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., Alphabet Inc., Magic Leap, Lytro, Inpria

Which Regions Will Dominate the AR/VR Chip Market Through 2029?
Asia-Pacific was the largest region in the AR/VR chip market in 2024.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

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