Global AR/VR Chip Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Overview and Scope

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.

Sizing and Forecast
The ar/vr chip market size has grown exponentially in recent years. It will grow from $3.27 billion in 2023 to $4.02 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%.  The  growth in the historic period can be attributed to proliferation of augmented reality (ar) and virtual reality (vr) applications, advances in graphics processing unit (gpu) technologies, growth in gaming and entertainment industries, increased adoption of ar/vr in healthcare and education, demand for high-performance computing in ar/vr devices.

The ar/vr chip market size is expected to see exponential growth in the next few years. It will grow to $8.62 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%.  The growth in the forecast period can be attributed to expansion of augmented reality glasses and headsets, integration of ar/vr in enterprise and industrial applications, adoption of 5g technology for enhanced ar/vr experiences, increased demand for compact and power-efficient ar/vr chips, growth in extended reality (xr) and mixed reality (mr) applications. Major trends in the forecast period include development of ai-powered ar/vr experiences, use of edge computing for real-time ar/vr processing, integration of ar/vr chips in smart glasses and wearables, emphasis on haptic feedback and sensory, integration in ar/vr devices.

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Segmentation & Regional Insights
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

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

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Major Driver Impacting Market Growth
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. For instance, according to the report published by Samsung Electronics Co. Ltd., a South Korea-based electronics corporation, smartphone adoption over the globe increased in 2021, as smartphone sales reached 1.30 billion units in 2020 and grew to 1.36 billion units in 2021. Therefore, the high adoption of mobile devices is driving the AR/VR chip market growth.

Key Industry Players
Major companies operating in the ar/vr chip market report 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., 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

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. Global AR/VR Chip Market Size and Growth
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31. Global AR/VR Chip Market Competitive Benchmarking

32. Global AR/VR Chip Market Competitive Dashboard

33. Key Mergers And Acquisitions In The AR/VR Chip Market

34. AR/VR Chip Market Future Outlook and Potential Analysis

35. Appendix

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