China AR/VR/Smart Glasses Market Analysis, Q1 2023
Overview:
In 2022, China's VR market grew by over 30% Year-over-year (YoY), mainly propelled by the extensive promotion of Pico devices such as Pico 4 and Pico Neo 3. Meanwhile, China’s AR/smart glasses market has seen remarkable growth of 150%, attributed to the commercialization of a variety of consumer AR glasses offered by Chinese OEMs like TCL-RayNeo, Xreal (previously known as Nreal), INMO and Rokid since H2 2022. Nevertheless, VR shipments in China fell 42% YoY in Q1 2023. China’s AR/smart glasses market continued to experience YoY growth in Q1 2023. However, compared to the preceding quarter, it declined by 36%. This report analyzes the market changes, OEMs’ performances, top-selling models, and recent developments within China's AR/VR supply chain and ecosystem during the first quarter of 2023. Additionally, we present our forecast on the growth of China's AR/VR market until CY2024, highlighting the key growth drivers and anticipated challenges.
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Author
Flora Tang
Flora is a Senior 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.
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