The Augmented Reality (AR) & Virtual Reality (VR) chips market size was USD 2.78 Billion in 2021 and is expected to register a revenue CAGR of 24.5% during the forecast period, according to the latest analysis by Emergen Research. Growing need for adoption of AR/VR solutions in various applications, such as employee training, is a key factor driving revenue growth of the market. AR & VR offers a cost-effective and efficient solution in training and skill development, as they replicate real scenarios by using AR & VR-enabled solutions. AR and VR solutions find high usage in various industries such as healthcare, defense & security, civil aviation, entertainment, digital manufacturing, and education. For instance, workers in factories or power plants must be able to properly operate machines, as they cannot be allowed to take charge unless they get a solid knowledge of the situation. With the help of VR and AR, training may be done in a risk-free environment, as employers can model their operations precisely, with tools they employ. In addition, new employees can experiment with their acquired knowledge and earn skills through simulation.
However, users can reveal a lot of information about themselves when utilizing AR applications in the real world. When user’s face is displayed, AR apps that enable Snapchat and Facebook filters can collect sensitive biometric information. This includes traits that can be used to uniquely identify us, such as our facial expressions, speech patterns, and even retinal patterns.
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The major companies Covered in the report are:
Advanced Micro Devices, Spectra7, NVIDIA Corporation, Huawei Technologies Co., Ltd., Samsung Electronics Co, Ltd., PHOTONIS, Qualcomm Technologies, Mediatek Inc., IBM, and Intel Corporation.
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The report also presents the country-wise and region-wise analysis of the Emergen Research and includes a detailed analysis of the key factors affecting the growth of the market.
The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the Augmented Reality and Virtual Reality Chips market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.
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The report offers an accurate forecast estimation of the Augmented Reality and Virtual Reality Chips industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Augmented Reality and Virtual Reality Chips market. The report studies the historical data of the Augmented Reality and Virtual Reality Chips market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
Segments Covered in this report are:
- Chip Type Outlook (Revenue, USD Billion; 2019–2030)
- Processor ICs
- User Interface ICs
- Power Management ICs
- Device Outlook (Revenue, USD Billion; 2019–2030)
- Head Mounted Display
- Gesture Tracking Device
- Projector & Display Wall
- Head-Up Display
- Handheld Device
- End-User Outlook (Revenue, USD Billion; 2019–2030)
- Media & Entertainment
- Aerospace & Defense
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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Key highlights of this research report:
- The projector ICs segment is expected to register a significant market revenue growth. Any AR system’s processor IC acts as its brain, managing and interpreting sensor inputs, storing and retrieving data, carrying out tasks of AR application program, and producing correct signals for display. In other words, every augmented reality system includes a computer of some kind.
- The head-mounted display segment is expected to register a substantial growth over the forecast period. A Head-Mounted Display (HMD) is a type of computer monitor that may be either worn on head or built into a helmet. This type of display guarantees that, regardless of direction user’s head may turn, the display is positioned precisely in front of user’s eyes, enabling total user immersion in whatever experience display is designed for.
- The gaming segment is expected to register a moderate growth over the forecast period. In the recent years, number of gamers has steadily increased due to rising demand for augmented reality and virtual reality video games, which in turn, drives industry growth.
- The Asia Pacific market is expected to register a considerable growth during the forecast period. Growing usage of high network technologies, plethora of mobile game developers, and expanding internet service penetration are major factors driving market revenue growth.
The report further examines the Augmented Reality and Virtual Reality Chips market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The Augmented Reality and Virtual Reality Chips report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2028.
According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Augmented Reality and Virtual Reality Chips Market?
How will the Augmented Reality and Virtual Reality Chips Market change in the upcoming six years?
Which application and product will take a lion’s share of the Augmented Reality and Virtual Reality Chips Market?
What is the Augmented Reality and Virtual Reality Chips market drivers and restrictions?
What will be the CAGR and size of the Augmented Reality and Virtual Reality Chips Market throughout the forecast period?
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