Report

Global AR/VR Market Insights and Development Trends, Q1 2024

June 13, 2024

Overview: In Q1 2024, global VR headset shipments declined 29% YoY and 51% QoQ. The sequential drop was partially due to seasonality during the post-Black Friday sales period in NAM and the 11.11 Single's Day promotion in China. Despite the entry of Apple's Vision Pro, the global VR headset market remained weak in Q1 2024. Meta's shipments declined, while Sony and Pico faced significant inventory-clearing pressures. The enterprise VR segment demonstrated more resilience compared to the consumer segment.

Global AR smart glass shipments grew 40% YoY in Q1 2024. However, the market declined 45% QoQ, primarily due to the end of the Black Friday sales in NAM and the 11.11 Single’s Day promotion in China. We expect NAM and China to account for nearly 90% of the global AR smart glass market. A noteworthy event in Q1 2024 was the rise of VITURE to the third position in the AR smart glass market with the launch of its VITURE One series glasses in China.

In this report, we have adjusted our forecast for global AR/VR headset shipments. For a detailed analysis of the initial sales performance and application ecosystem of Apple’s Vision Pro, performances of key OEMs in the global AR/VR market in Q1 2024, and our assumptions for our adjusted market forecast, please refer to the full report.

Table of Contents:

Key Takeaways and Themes of the Quarter
Global VR Market Analysis, Q1 2024
Global AR Smart Glass Market Analysis, Q1 2024
Component and Specification Trends, Q1 2024
Industrial Intelligence Update, Q1 2024
Market Forecast Update

Number of Pages (if it’s a PDF): 47

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Author

Flora Tang

Flora is a Principal Analyst at Counterpoint Research, based in Hong Kong. With over nine years of experience in the mobile industry, she specializes in analyzing the consumer electronics market and the Chinese supply chain. Flora has held various roles in the market intelligence and business strategy functions with leading Chinese smartphone OEMs, internet company and telecom operator. She initially joined Counterpoint Research in 2017 but later moved on to play key roles in OPPO’s international business strategy in 2021 and HONOR’s corporate strategy planning in 2022. Flora has since returned to Counterpoint, where she now serves a broader array of global technology players. Academically, Flora holds a bachelor’s degree in International Relations from Sun Yat-Sen University and a master’s degree from The Chinese University of Hong Kong.