The global AR/VR chip market size reached US$ 3.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.0 Billion by 2028 exhibiting a growth rate (CAGR) of 21.55% during 2023-2028.
Augmented reality (AR) and virtual reality (VR) chips are electronic circuits installed in various devices. AR refers to a technology that seamlessly merges the real world with virtual objects to support realistic, intelligent, and personalized experiences. On the other hand, VR is a computer-generated simulation to facilitate interaction between an artificial three-dimensional (3D) environment. AR/VR chips are manufactured using silicon, plastic, and metal wires to create the layers of the circuit. These chips are widely used in handheld devices, head-up, head-mounted displays (HMDs), gesture tracking devices, and projector and display walls. As a result, AR/VR chips find extensive applications across the gaming, aerospace and defense, education and entertainment, and media industries.
AR/VR Chip Market Trends:
The rising product utilization in the gaming and entertainment industries across the globe is creating a positive outlook for the market. AR/VR chips are widely used in sensor-based games to control electronic signals via a semiconductor. Additionally, the increasing number of gaming features in smartphones and other devices to enhance the overall user interface experience is acting as another growth-inducing factor. Moreover, the widespread adoption of AR/VR chips in the healthcare industry to train students, nurses, and other medical professionals by providing valuable tools for training medical personnel without jeopardizing or endangering one's life is favoring the market growth. Apart from this, the increasing product demand for HMDs and goggles with 360-degree viewing capabilities to offer superior vision, high-resolution visuals, and 3D viewing is providing an impetus to the market growth. Furthermore, the rising product utilization in civil aviation or military applications to establish a virtual environment to train pilots and understand and confront difficulties through strategic mapping is positively influencing the market growth. Other factors, including extensive research and development (R&D) activities, rising expenditure capacities of consumers, and growing product demand in the education industry, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global AR/VR chipmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on chip type, device type and end user.
Breakup by Chip Type:
Processor ICs
User Interface ICs
Power Management IC
Breakup by Device Type:
Head Mounted Display
Gesture Tracking Device
Projector and Display Wall
Head Up Display
Handheld Device
Breakup by End User:
Gaming
Entertainment and Media
Aerospace and Defense
Healthcare
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Advanced Micro Devices Inc., Broadcom Inc., Intel Corporation, MediaTek Inc., Nvidia Corporation, Qualcomm Incorporated and Spectra7 Microsystems.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Chip Type, Device Type, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global AR/VR chip market was valued at US$ 3.6 Billion in 2022.
We expect the global AR/VR chip market to exhibit a CAGR of 21.55% during 2023-2028.
The rising number of gaming features in smartphones and other devices to enhance the overall interface experience of users, along with the growing utilization of AR/VR chips in sensor-based games to control electronic signals via a semiconductor, is primarily driving the global AR/VR chip market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for AR/VR chips.
Based on the chip type, the global AR/VR chip market can be categorized into processor ICs, user interface ICs, and power management IC. Currently, processor ICs account for the majority of the global market share.
Based on the device type, the global AR/VR chip market has been segregated into head mounted display, gesture tracking device, projector and display wall, head up display, and handheld device. Among these, head-mounted display currently exhibits a clear dominance in the market.
Based on the end user, the global AR/VR chip market can be bifurcated into gaming, entertainment and media, aerospace and defense, healthcare, and others. Currently, the gaming industry holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global AR/VR chip market include Advanced Micro Devices Inc., Broadcom Inc., Intel Corporation, MediaTek Inc., Nvidia Corporation, Qualcomm Incorporated, and Spectra7 Microsystems.
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