AR/VR Chip Market Size
What industry-specific factors are fueling the growth of the ar/vr chip market?
The surge in mobile device usage is anticipated to stimulate the expansion of the AR/VR chip market in the future. The term “mobile device” pertains to any portable tablet or similar compact digital gadget light enough to be transported freely. With the advancements in data storage, processing, and visual displays, these devices are now capable of carrying out most functions that were once restricted to larger personal computers. AR/VR chips incorporated in smartphones provide highly immersive virtual and augmented reality gaming experiences, allowing the player to engage with their environment using their own hands. For example, G2.Com Inc., an American software firm, reported in January 2024 that 86% of the global population used smartphones in 2023, accounting for 59% of web traffic in 2022 and 90% of mobile app usage in 2021. In the United States, they represented 70% of all digital media use, while 17% of lower-income and older citizens continued to use traditional feature phones. Hence, the extensive uptake of mobile devices is playing a significant role in driving the growth of the AR/VR chip market.
Get Your AR/VR Chip Market Report Here:
https://www.thebusinessresearchcompany.com/report/ar-or-vr-chip-global-market-report
What Is the projected market size and growth rate for the ar/vr chip market?
In the past few years, there has been a rapid increase in the size of the AR/VR chip market. This growth is projected to escalate from $3.96 billion in 2024 to $4.82 billion in the succeeding year, marking an annual compound growth rate (CAGR) of 21.9%. This progress in the historic timeline can be credited to the widespread use of augmented reality (AR) and virtual reality (VR) applications, advancements in Graphics Processing Unit (GPU) technologies, the expansion of the gaming and entertainment sectors, the accelerating use of AR/VR in areas such as healthcare and education, as well as the rising demand for efficient computing in AR/VR devices.
Predictions for the AR/VR chip market size indicate a sharp increase in the forthcoming years, with potential growth to $10.1 billion by 2029, achieving a compound annual growth rate (CAGR) of 20.3%. This expansion during the forecast period can be traced back to factors such as the proliferation of augmented reality glasses and headsets, the application of AR/VR in business and industrial settings, the implementation of 5g technology to enrich AR/VR experiences, a surge in demand for small-sized and energy-efficient AR/VR chips, and development in extended reality (XR) and mixed reality (MR) applications. Some of the notable trends expected to shape the forecast period comprise the creation of AI-driven AR/VR experiences, the employment of edge computing for immediate AR/VR processing, the incorporation of AR/VR chips into smart glasses and wearable devices, and a focus on haptic feedback and sensory integration in AR/VR gadgets.
Get Your Free Sample Now – Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7734&type=smp
What new trends are reshaping the ar/vr chip market and its opportunities?
One key trend gaining momentum in the AR/VR chip market is technological advancement. To maintain their dominance, heavyweight companies in the AR/VR sector are championing innovations. For example, Qualcomm Technologies Inc., a firm based in the U.S. that specializes in semiconductors, unveiled their most recent chips for XR and AR platforms in September 2023. These include the Snapdragon XR2 Gen 2, tailored for VR and mixed-reality devices, and the AR1 Gen 1, purpose-built for smart glasses. These provide a 2.5x improvement in GPU performance and amplify AI ability by eightfold, paving the way for deeper mixed and virtual reality experiences. The Snapdragon AR1 Gen 1 Platform equips sleek smart glasses with real-time AI abilities such as visual search and hands-free live streaming. Developed in concert with Meta, these breakthroughs will be launched in 2023, transforming XR and AR devices by rendering them more potent, lightweight, and user-friendly.
What major market segments define the scope and growth of the ar/vr chip market?
The AR/VR chip market 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
Unlock Exclusive Market Insights – Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7734
Which region dominates the ar/vr chip market?
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
Which key market leaders are driving the ar/vr chip industry growth?
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
Customize Your Report – Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=7734&type=smp
What Is Covered In The AR/VR Chip Global Market Report?
•Market Size Forecast: Examine the ar/vr chip market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the ar/vr chip market for a structured understanding.
•Key Players Overview: Analyze major players in the ar/vr chip market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ar/vr chip market.
•Segment Contributions: Evaluate how different segments drive overall growth in the ar/vr chip market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ar/vr chip market.
•Industry Challenges: Identify potential risks and obstacles affecting the ar/vr chip market.
•Competitive Landscape: Review strategic developments in the ar/vr chip market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
