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China AR/VR/Smart Glasses Market Analysis, Q4 2023

Overview:

VR shipments in the Chinese market dropped 61% YoY in CY2023, in line with our previous projections. The decline in the consumer segment was notably more pronounced than in the enterprise segment. However, in Q4 2023, VR shipments in China surged by 53% QoQ, fueled by vigorous promotional activities from OEMs during the 11.11 Single’s Day sales and increased demand from China’s enterprise segment. OEMs focusing on the enterprise market, such as DPVR, showed more resilience than their consumer-sector peers.

In contrast to the stagnation in China’s VR market, the AR smart glasses market in China experienced a remarkable 67% YoY surge in CY 2023. This growth was propelled by the strong introduction of new products targeting the Chinese consumer segment. These glasses can be primarily classified into two categories: video-watching AR glasses and information-display AR glasses. A notable development in China’s AR market in Q4 2023 was the release of TCL-RayNeo’s X2, a standalone AR glass based on Qualcomm’s XR 2 Gen 1 SoC, and RayNeo’s self-developed Polychrome Micro LED + Diffractive waveguide solution. Although its FoV remained limited compared to products based on mature solutions, it made progress as an independent lightweight product featuring a complexity of functionalities.

For a comprehensive understanding of the market dynamics, as well as our latest forecast on the 2024 Chinese XR market, please refer to the complete report for detailed insights.

Table of Contents:

  • Key Takeaways
  • China VR Market Analysis
    • Market Outlook Update
    • Competitive Landscape, Q4 2023
    • Top-selling Models, Q4 2023
  • China AR/Smart Glasses Market Analysis
    • Market Outlook Update
    • Competitive Landscape, Q4 2023
    • Top-selling Models, Q4 2023
  • Industrial Intelligence Update, Q4 2023
    • AR/VR OEMs’ Latest Developments
    • Latest Developments- AR/VR Supply Chain and Developer Ecosystem
    • Industrial Applications Update

 Number of Pages: 32

Published Date: March 2024

China AR/VR/Smart Glasses Market Analysis, Q3 2023

Overview:

VR shipments in the Chinese market dropped 66% YoY during the initial nine months of 2023. We forecast full-year 2023 VR headset shipments to decline 60% YoY based on factors such as iQiyi’s departure from the VR market in August and Pico’s reduced investment since October. In 2024, we anticipate the Chinese VR market to deliver modest performance. In contrast to the stagnation in China’s VR market in Q3 2023, the AR smart glasses market experienced a 60% YoY increase during the quarter. It also witnessed a remarkable 62% YoY surge in the first nine months of 2023. Based on the continuous launch of new products and aggressive promotions by AR OEMs to stimulate sales during the 11.11 e-Commerce festival, we maintain our 53% YoY growth forecast for China’s AR smart glasses market in the calendar year 2023 and over 50% YoY growth in 2024.

Within China’s supply chain ecosystem, innovations persist in the optical and display sectors. Goertek introduced a new pancake optical module series on July 29, while it is reported that Apple is seeking BOE and SeeYa Technology for additional supply of its MR headset displays. For a comprehensive understanding of the market dynamics, please refer to the complete report for detailed insights.

Table of Contents:

  • Key Takeaways
  • China VR Market Analysis
    • Market Outlook Update
    • Competitive Landscape, Q3 2023
    • Top-selling Models, Q3 2023
  • China AR/Smart Glasses Market Analysis
    • Market Outlook Update
    • Competitive Landscape, Q3 2023
    • Top-selling Models, Q3 2023
  • Industrial Intelligence Update, Q3 2023
    • AR/VR OEMs’ Latest Developments
    • Latest Developments- AR/VR Supply Chain and Developer Ecosystem
    • Industrial Applications Update

Number of Pages: 28

Published Date: January 2024

Global XR (AR & VR Headsets) Market Forecast, January 2024 Update

Overview:

This report covers the forecast of Extended Reality (XR: AR & VR Headsets) market by shipment and revenue for the period of 2016 to 2027. The report divides the market by top (nearly 25) brands, augmented and virtual reality device types and tethered and standalone form factors for each device type. The report also gives a flavour of the market based on geography and user type.

Data: Brand-level shipments of XR headsets by device type and form factor including wholesale price.

Time Period: 2016 – 2027

Publication Date: January 2024

XR (AR &VR Headsets) Quarterly Model Tracker: Q1 2020 – Q3 2023

Overview:

This is a comprehensive database of Extended Reality (XR) headset model level shipments by quarter including retail price and 30+ specifications and features. It covers tethered as well as standalone Virtual Reality (VR) and Augmented Reality (AR) headset models. We are tracking 40+ XR brands and 100+ headset models by memory variants.

  • Time period: Q1 2020 to Q3 2023 with quarterly granularity
  • By brand (40+) and models (100+)
  • By region: Global
  • Specification and prices (35+)
    • Price bands
    • Chipsets Company
    • Chipset Models
    • Display Size
    • Display Type
    • Internal memory
    • RAM
    • Wi-Fi Type
    • FOV
    • 26+ other specifications

Publication Date: December 2023

ByteDance Scales Back XR Investment with Significant Pico Layoffs

Overview:

ByteDance’s Virtual Reality (VR) arm PICO has publicly confirmed plans to lay off 23% of its workforce, or about 300 employees, after it released an internal notice on November 7, 2023, announcing layoffs and an organizational restructuring. As part of the restructuring, PICO will retain the core hardware R&D team comprising about 500 engineers. The Mobile OS team will be separated from PICO and merged into ByteDance’s middleware platform due to which the team will be excluded from the layoff count. Meanwhile, other PICO departments such as Sales, Marketing, and Content Center are likely to face significant reductions. Consequently, the number of employees leaving PICO will likely surpass the publicly announced 23%. PICO reiterates that the layoffs and restructuring are not a sign of giving up on the XR business, but rather a necessary step to focus on core technologies for sustainable development in the sector.

In this report, we will analyze the factors influencing PICO’s decision and provide a forecast for its near-term development.

Table of Contents:

  • Background
  • Analysis of Factors Contributing to PICO’s Decision
  • Forecast of the Near-term Development

Number of Pages: 9

Published Date: November 2023

XR (AR &VR Headsets) Quarterly Model Tracker: Q1 2020 – Q2 2023

Overview:

This is a comprehensive database of Extended Reality (XR) headset model level shipments by quarter including retail price and 30+ specifications and features. It covers tethered as well as standalone Virtual Reality (VR) and Augmented Reality (AR) headset models. We are tracking 40+ XR brands and 100+ headset models by memory variants.

  • Time period: Q1 2020 to Q2 2023 with quarterly granularity
  • By brand (40+) and models (100+)
  • By region: Global
  • Specification and prices (35+)
    • Price bands
    • Chipsets Company
    • Chipset Models
    • Display Size
    • Display Type
    • Internal memory
    • RAM
    • Wi-Fi Type
    • FOV
    • 26+ other specifications

Publication Date: September 2023

Apple Vision Pro: A Trillion-dollar Insurance Policy

Overview:

The Apple Vision Pro is probably the most complex consumer electronics device ever made. But why is Apple launching this product when the XR market is struggling for sustained growth?

This report analyses the Apple Vision Pro – both the product and Apple’s likely motivation for launching it. The report also provides three scenarios for AVP’s possible sales volume in its first few years.

Number of Pages: 13

Published Date: August 2023

Global XR (AR & VR Headsets) Market Forecast, June 2023 Update

Overview:

This report covers the forecast of Extended Reality (XR: AR & VR Headsets) market by shipment and revenue for the period of 2016 to 2027. The report divides the market by top (nearly 25) brands, augmented and virtual reality device types and tethered and standalone form factors for each device type. The report also gives a flavour of the market based on geography and user type.

Data: Brand-level shipments of XR headsets by device type and form factor including wholesale price.

Time Period: 2016 – 2027

Publication Date: July 2023

 

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