Portland, May 27, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global AR/VR chip market accounted for $1.38 billion in 2018, and is estimated to reach $7.75 billion by 2026, growing at a CAGR of 23.3% from 2019 to 2026.
Increase in demand for AR/VR chip in gaming vertical and surge in need for adoption of AR/VR in various applications have boosted the growth of the global AR/VR chip market. However, resistance to adopt the AR/VR technology and lack of investments in R&D hamper the market growth. On the contrary, advancements in technology and introduction of industry-specific solutions are expected to create lucrative opportunities in the near future.
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The global AR/VR chip market is segmented on the basis of type, device type, end user, and geography. Based on type, the market is categorized into processor ICs, user interface ICs, and power management ICs. The processor ICs segment dominated the market in 2018, accounting for more than half of the market. Moreover, the segment is expected to register the highest CAGR of 24.1% during the forecast period.
On the basis of device type, the market is categorized into head-mounted display, head-up display, handheld device, gesture tracking device, and projector & display wall. The head-mounted display segment held the largest share in 2018, accounting for more than half of the market. However, the head-up display segment is projected to manifest the fastest CAGR of 25.2% during the forecast period.
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Based on end user, the market is divided into gaming, entertainment & media, aerospace & defense, healthcare, and others. The healthcare segment is anticipated to portray the highest CAGR of 27.8% during the study period. However, the gaming segment contributed the largest share in 2018, accounting for more than two-fifths of the market.
The global AR/VR chip market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2018, contributing to more than half of the market. Moreover, the region is estimated to manifest the highest CAGR of 24.7% during the forecast period.
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The global AR/VR chip market report includes an in-depth analysis of the major market players such as Qualcomm Technologies Inc., Imagination Technologies Limited, NVIDIA Corporation, Intel Corporation, MEDIATEK Inc., Advanced Microdevices Inc, Spectra 7, Samsung Electronics Co. Ltd, International Business Machine Corporation, and Huawei Technologies Co. Ltd.
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