AR/VR Chip Market Size to Reach USD 29.4 Billion By 2032 CAGR: 23.2%. Report By DataHorizzon Research
According to DataHorizzon Research, The AR/VR chip market size was valued at USD 3.7 Billion in 2022 and is expected to reach USD 29.4 Billion by 2032 with a CAGR of 23.2%.
Fort Collins, Colorado, Sept. 25, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "AR/VR Chip Market Size, Growth, Trends, Share, Statistics Analysis Report By Chip Type (Processor ICs, UI ICs, Power Management ICs), By Device Type (HMD, HUD, Handheld Device, Gesture Tracking, Projector & Display Device), By End-User, By Region, And Segment Forecasts, 2023-2032."
*According to DataHorizzon Research, The AR/VR chip market size was valued at USD 3.7 Billion in 2022 and is expected to reach USD 29.4 Billion by 2032 with a CAGR of 23.2%.* The report thoroughly analyzes the global market, providing key insights and actionable information on present and future industry trends. The Augmented Reality/Virtual Reality (AR/VR) chip market has become a rapidly growing industry crucial in facilitating immersive and interactive user experiences. The market encompasses diverse chips and semiconductor components designed to power AR and VR devices such as headsets, smart glasses, and other wearable devices. These process and generate high-quality graphics, track movements, and boost overall performance to deliver seamless and realistic virtual environments.
AR technology is an incredibly sophisticated system that overlays computer-generated data or imagery onto physical objects in real-time, creating a seamless blend of the virtual and real worlds. This cutting-edge technology enhances users' perception and provides valuable information to assist them in performing real-world tasks with greater ease and accuracy. The fundamental components of an AR system are displays, sensors, and embedded electronics, all of which work in tandem to create an immersive experience for the user. Whether for employee training, video conferencing, or other applications, AR technology is widely utilized in various areas requiring enhanced visualizations and interactions.
On the other hand, VR technology takes things a step further by creating fully immersive virtual environments that can simulate real-world experiences with incredible precision. Using computer hardware and software, VR technology allows users to interact with objects and environments as if they were there, providing a level of interactivity and presence that is truly remarkable. This technology comprises various components like gesture recognition systems, sensors, and embedded electronics, which work together to create a realistic and interactive virtual environment.
Overall, both AR and VR technologies are remarkable advancements in visual computing, potentially revolutionizing many industries. They offer a range of benefits, including improved training methods, enhanced user experiences, and increased productivity. As such, these technologies are increasingly being adopted by businesses and organizations worldwide as they leverage the power of these unconventional tools to gain a competitive edge and stay ahead of the curve.
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*Report Snapshot:*
*Report Title* AR/VR Chip Market
Market Size in 2022 USD 3.7 Billion
Market Size by 2032 USD 29.4 Billion
CAGR from 2023 to 2032 23.2%
Largest Market North America
Forecast Period 2023 to 2032
Historic Period 2021
Base Year 2022
Report Scope & Coverage Market size, estimations, competitor analysis, trends, and growth factors
By Chip Type Processor ICs, UI ICs, power management ICs
By Device Type HMD, HUD, handheld device, gesture tracking, projector & display device
By End-Use Gaming, entertainment & media, aerospace & defense, healthcare, manufacturing, retail, education
Region North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered U.S.A, Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among Personal Care
Major Market Players Qualcomm, MediaTek, Nvidia, AMD, Intel, Samsung, HiSilicon, Rockchip, Spreadtrum, Marvell, Infineon, STMicroelectronics, Texas Instruments, and others
*Segmentation Overview:*
The market for AR/VR chip market has been segmented based on chip type, device type, and end-use. Based on type, Power Management Integrated Circuits (PMICs) dominate the market as they are widely used in complex systems requiring multiple power rails and domains. They are cost-effective for implementing complete power supply solutions and can significantly reduce component count and board space. PMICs are ideal for embedded processing in applications like the Internet of Things, edge computing, medical and Industrial IoT, Electric Vehicles, and autonomous vehicles. The System on Modules combines a PMIC with an industrial-grade microprocessor and other devices to simplify development and speed up time to market. PMICs are found in automatic-operating goods and gadgets such as embedded systems, implanted medical devices, remote controls, smart appliances, and automotive engine control systems. They offer the same results as smaller microcontrollers at lower system costs because a single chip contains all necessary components, including memory, a CPU, and input/output peripherals. This lowers manufacturing costs and increases efficiency, benefiting the market.
The gaming industry is a dominating force in the global market. Electronic games compatible with augmented and virtual reality technologies are trendy among millennials. AR/VR technology enables users to experience the gaming world in real life through a digital platform. As a result, manufacturers have prioritized their products' compatibility with AR/VR technology. The AR/VR chip market is propelled by the gaming industry's growing demand for AR/VR chips, the cost-effectiveness of augmented and simulated reality-based solutions, and the rapid adoption of AR/VR technology in various applications.
North America's AR/VR industry boasts a significant market share, which can be attributed to the prevalence of structured cabling systems in the densely populated manufacturing and telecommunications sectors. The region has experienced accelerated growth due to the early adoption of advanced technologies in various industries, such as government, residential and commercial, transportation, and logistics. Additionally, the increased adoption of fiber optic cables and digital services has expanded the market.
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*Key Developments in the AR/VR Chip Market:*
· Infosys and NVIDIA have partnered to boost productivity in multiple industries by creating generative AI solutions. A new center will train 50,000 Infosys employees on NVIDIA's AI technology as part of the collaboration. This alliance underscores their commitment to developing innovative solutions that assist businesses in accomplishing their objectives.
· MediaTek has successfully developed its first chip using TSMC's 3nm technology. The flagship Dimensity system-on-chip is anticipated to be produced in large quantities next year. This accomplishment highlights the strong partnership between MediaTek and TSMC, resulting in powerful and energy-efficient features for devices worldwide.
*AR/VR Chip Market Report Highlights:*
· The AR/VR chip market size is expected to reach a CAGR of 23.2% by 2032. The AR/VR chip market is rapidly growing, providing high-quality graphics and realistic virtual environments for immersive experiences. AR overlays computer-generated data onto physical objects, enhancing perception and assisting users in real-world tasks. VR creates fully immersive environments, allowing users to interact with objects and environments as if they were there. Both technologies offer benefits like improved training and enhanced user experiences, making them increasingly adopted by businesses worldwide.
· Power Management Integrated Circuits (PMICs) are widely used in complex systems needing multiple power rails and domains, making them the dominant type in the market. They can reduce component count and board space, making them cost-effective for implementing complete power supply solutions. PMICs are ideal for embedded processing in IoT, edge computing, medical and Industrial IoT, EVs, and autonomous vehicles. The gaming industry drives demand for AR/VR chips, which are cost-effective and rapidly gaining adoption in various applications. Manufacturers prioritize compatibility with AR/VR technology to meet growing demand.
· North America's AR/VR industry has a significant market share due to structured cabling systems in manufacturing and telecommunications. Early adoption of advanced tech in various industries has led to accelerated growth and increased use of fiber optic cables and digital services.
· Some of the prominent players in the market are Qualcomm, MediaTek, Nvidia, AMD, Intel, Samsung, HiSilicon, Rockchip, Spreadtrum, Marvell, Infineon, STMicroelectronics, and Texas Instruments.
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* AR/VR Chip Market Report Segmentation:*
*AR/VR Chip Market, By Chip Type (2023-2032)*
· Processor ICs
· UI ICs
· Power Management ICs
*AR/VR Chip Market, By Device Type (2023-2032)*
· HMDs
· HUD
· Handheld Device
· Gesture Tracking
· Projector & Display Device
*AR/VR Chip Market, By End-use (2023-2032)*
· Gaming
· Entertainment & Media
· Aerospace & Defense
· Healthcare
· Manufacturing
· Retail
· Education
*AR/VR Chip Market, By Region (2023-2032)*
· North America
· U.S.
· Canada
· Europe
· U.K.
· Germany
· France
· Rest of Europe
· Asia Pacific
· China
· India
· Japan
· South Korea
· Rest of Asia Pacific
· Latin America
· Brazil
· Mexico
· Rest of Latin America
· Middle East & Africa
· UAE
· Saudi Arabia
· South Africa
· Rest of the Middle East & Africa
*About DataHorizzon Research:*
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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