New York, April 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "AR/VR Chip Global Market Report 2023" - https://www.reportlinker.com/p06443925/?utm_source=GNW
, Huawei Technologies Co. ltd., International Business Machines Corp., Advanced Micro Devices Inc., (AMD), Broadcom Inc., Rockchip Electronics Co Ltd., Advanced RISC Machines Ltd., and HiSilicon (Shanghai) Technologies CO. Ltd.
The global ar/vr chip market grew from $2.79 billion in 2022 to $3.6 billion in 2023 at a compound annual growth rate (CAGR) of 28.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ar/vr chip market is expected to grow to $9.54 billion in 2027 at a CAGR of 27.6%.
The AR/VR chip market consists of sales of AR system comprising of displays, sensors, embedded electronics and VR technology comprising of gesture recognition systems, sensors, and embedded electronics.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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 the real setting.It also allows the real-time integration of digital information with the environment of the user.
The AR/VR chip is used to enable digital manipulation and interaction between the real world and the augmented surroundings.
Asia-Pacific was the largest region in the AR/VR chip market in 2022.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 and Africa.
The main types of chips in AR/VR chip are processor ICS, user interface ICS, and power management ICS.The processor IC is used as computer memory, a microcontroller, an oscillator, a timer, a counter, logic gates, or a processor.
Processor ICs refer to integrated circuits that usually have millions or billions of transistors, capacitors, logic gates, and other components coupled in series to create an advanced digital circuit.The processor ICs are used for long battery life, high-accuracy sensing, and wireless connectivity.
The different device types include head-mounted display, gesture tracking device, projector and display wall, head-up display, and handheld device that are employed in gaming, entertainment and media, aerospace and defense, healthcare, and other end users.
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 chip embedded in smartphones enables 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 the smartphone sales reached 1.30 billion units in 2020, and it grew to 1.36 billion units in 2021. Therefore, the high adoption of mobile devices is driving the growth of the AR/VR chip market.
Technological advancement is a key trend gaining popularity in the AR/VR chip market.Major companies operating in the AR/VR sector are focused on technological advancement to sustain their position in the market.
For instance, in November 2021, Qualcomm Technologies Inc., a US-based company engaged in the manufacturing and development of semiconductors, mobile, networking, Wi-Fi, small cells, wireless power, and augmented reality, launched the Snapdragon SpacesTM XR Developer Platform, a head-worn Augmented Reality (AR) developer kit with proven technology. It is a powerful machine perception technology that is designed for the Next Generation of AR Glasses and is optimized for performance and low power. It can sense the user, intelligently interact with them, adapt to their physical indoor environments, and provide positional tracking and hand tracking.
In September 2022, Meta Platforms Inc., a US-based technology conglomerate partnered with Qualcomm Technologies Inc for an undisclosed amount. With this partnership, Meta and Qualcomm would create specialized chipsets for upcoming editions of its extended reality (XR) platform. Qualcomm Technologies Inc is a US-based company engaged in the manufacturing and development of semiconductors, mobile, wireless power, augmented reality (AR), and AR chips.
The countries covered in the AR/VR chip market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The AR/VR chip market research report is one of a series of new reports that provides AR/VR chip market statistics, including AR/VR chip industry global market size, regional shares, competitors with an AR/VR chip market share, detailed AR/VR chip market segments, market trends and opportunities, and any further data you may need to thrive in the AR/VR chip industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06443925/?utm_source=GNW
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