Global ARorVR Chip Market Strategies 2024, Forecast To 2033
14 Feb, 2024
The AR/VR chip market has experienced exponential growth, soaring from $3.27 billion in 2023 to $4.02 billion in 2024, showcasing a remarkable 22.7% compound annual growth rate (CAGR). This surge is attributed to the proliferation of AR/VR applications, advances in GPU technologies, and increased adoption in gaming, entertainment, healthcare, and education. Expected to maintain exponential growth, the market is projected to reach $8.62 billion in 2028, with a 21.1% CAGR. Contributing factors include AR glasses expansion, integration in enterprise applications, 5G technology adoption, demand for compact and power-efficient chips, and growth in extended reality applications. Key trends encompass AI-powered AR/VR experiences, edge computing utilization, integration in smart wearables, haptic feedback emphasis, and applications in AR/VR devices.
Global ARorVR Chip Market Key Driver
The AR/VR chip market is set to grow with the high adoption of mobile devices globally. Mobile devices have evolved to perform tasks previously limited to larger computers. AR/VR chips embedded in smartphones enhance realistic virtual and augmented reality experiences. The global smartphone sales reaching 1.36 billion units in 2021 underpin the high adoption of mobile devices driving the AR/VR chip market.
Get A Free Sample Of The Global ARorVR Chip Market ReportGlobal ARorVR Chip Market Segments
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
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
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
Major ARorVR Chip Industry Players
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
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ARorVR Chip Market Overview
The AR/VR chip refers to the chip that enables a user to perform tasks in a digital setting while experiencing a sense of immersion in a real setting. It also allows the real-time integration of digital information with the user's environment. The AR/VR chip is used to enable digital manipulation and interaction between the real world and the augmented surroundings.
ARorVR Chip Global Market Report 2023 provides data on the global arorvr chip market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The arorvr chip market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.