Global XR (VR & AR) Market Share | ||||||
---|---|---|---|---|---|---|
Brands | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 |
Meta | 51% | 51% | 52% | 78% | 64% | 74% |
Apple | - | - | - | - | 16% | 3% |
Pico | 7% | 6% | 9% | 5% | 7% | 8% |
Sony | 33% | 29% | 21% | 9% | 4% | 3% |
Others | 9% | 14% | 18% | 8% | 9% | 12% |
• In Q2 2024, global VR headset shipments declined 4% YoY and 28% QoQ, driven primarily by a sharp drop in Sony’s PlayStation VR2 (PSVR2) shipments. However, this decrease was less severe compared to the 29% YoY drop in the previous quarter.
• Apple’s Vision Pro shipments saw a significant sequential decline in Q2 2024, following the initial market hype. Meta was the brightest spot seeing 37% YoY growth in Q2 2024 to capture 80% share in the global VR headset market, driven by the strong sales momentum of the Meta Quest 3. Market consolidation is evident in the global VR segment as the market frenzy cools down, with the top three players accounting for over 90% of the market share in Q2.
• Global AR smart glass shipments declined 13% YoY and 23% QoQ in Q2 2024. This decline marks the end of three consecutive quarters of YoY growth since Q3 2023, indicating a turning point in the development of the AR smart glasses market.
• We expect that market demand for the mainstream video-watching glasses using the Birdbath optical solution has become relatively saturated, as tech enthusiasts have largely tried and adopted these products. Simultaneously, sales for the information-display glasses using MicroLED and waveguide solutions remained niche due to the immaturity of these technologies.
• Global Q2 2024 AR/VR OEM market share rankings (based on shipments):
○ Meta 74%
○ Pico 8%
○ DPVR 4%
○ Apple 3%
○ Sony 3%
○ Others 8%
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