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AR/VR device shipments expected to grow 43.9 per cent annually, says report

AR/VR (augmented reality/virtual reality) device shipments are expected to grow up to 14.19 million units in 2022, with an annual growth rate of 43.9 per cent, according to TrendForce research.

According to TrendForce, brands are actively planning for and stimulating product shipment performance driven by the the topic of the Metaverse.

This year ,The growth momentum will be driven by increased demand for remote interactivity stemming from the Covid-19 pandemic, as well as Oculus Quest 2’s price reduction strategy.

Microsoft HoloLens 2 and Oculus Quest 2 take the first spot in terms of market share for AR and VR, respectively.

However, the AR/VR device market has yet to experienced explosive growth, as per the report

Growth trajectory

This is due to two main factors- component shortages and the difficulty of developing new technologies.

“In addition, cosmetic and size considerations have made the more optically and technically difficult Pancake design the first choice for new high-end products,” it said in a release.

“Furthermore, various embedded tracking feedback technologies key to enhancing the user’s immersive experience such as eye tracking and 6DoF further affect the development progress of a new product as a whole. Since there are no new foreboding products on the horizon, TrendForce believes, no other branded products have a chance at supplanting the current mainstream status of Oculus or Microsoft until at least 2023,” it added.

AR/VR shipments are expected to reach 18.81 million units in 2023.

The Oculus Quest 2, which costs between $200 and $400, is currently the most popular AR/VR device in the consumer market.

Oculus is further expected to launch an advanced version of the Quest within two years, reaching a hardware performance equivalent of $700, or down to a retail price of $500 with discounts.

“This product is expected to expand the size of the high-end consumer AR/VR market. The commercial market is dominated by the HoloLens 2 which costs more than $1,000 and upwards of US$3,500. Since the commercial market places more emphasis on the benefits of hardware and software integration, manufacturers that dominate commercial systems, software, and platforms have the advantage,” it said. The Hindu BusinessLine

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